Gemmel

We have plenty of debt..... but it wont stop us buying Jack Cork

Any news on the court case. Adjourned for sentancing is what I'd like to see

We are in debt, I have the accounts if anyone is interested. But in a way it is irrelevant. It is the structure of the debt, the intent to call it in and the views of the family that count most. At this point in time, the investment from Markus is doing very nicely.

I am no tax expert and as said previously, I am sure there are ways around it, but what you have written isn't quite true

Tax. At the moment we can inject money into the club through Directors loans, which then can be turned into equity and neither party are subject to tax (It can even be deductable for the person / company loaning). If money comes in as revenue, its taxable - which at best is 33%. Its not quite as simple as has been suggested as to buy something from the shop or sponsor this or that for huge amounts of money. That said, I am sure there are some ways around it.

I cant remember if it was on here or the old Saintsforever, but here was a picture thread and some of them were amazing

http://news.bbc.co.uk/sport1/hi/athletics/13708993.stm

Absolutely as I see it. And you are right - "Wiping Out" wasn't the correct terminolgy.

The total purchase price was somwhere in the region of 15 million as stated by the adminsitrator. During that period Andrew Surman was sold, so we can only guess that the sale price was reduced from the asking price to make it around 13 million. All creditors were paid in full* with the exception of Barclays and Aviva, who were by a country mile the lion share of the debt. Companies house lists the liquidataion, with those two creditors as "Terms agreed with the Barclays and Avia at significantly reduced rates, agreed by all parties" ... That's not the exact wording, but the general gist. As we didn't need a CVA (Due to the set up of the Holding company) I have no idea if Markus settled all other outstanding debts in full as a gesture to local businesses or if it was a pre-requiste from the FA, based on their being no CVA. * There were a number of newpaper reports at the time and thereafter that all debts were settled in full. I was very dubious as it didn't make any sense, but from what I can work out and verified on here a couple of times by creditors or relations of creditors with the exeception of the two big debts (Which must have amounted to about 99.9% of the debt) it seems as though thsi was the case. As far as wiping out all the debt, it was of course replaced with new debt through loan notes, which still stand and if taken at the word of the chairman, will ultimately be exchanged for equity or wiped out. I read the accounts (Could be wrong) as the cost to buy the club and continuing trading losses amounts to around 24 million. Which if you paid 13 million or so up front, spent a big wedge on players and then paid them big wages, would be about right..... So i guess the question is, are we worth more than 24 million here and now. If pompey really were sold for 15, then you would have to say a big fat yes.

http://www.bbc.co.uk/news/uk-england-hampshire-13694883 I have to say that is a pretty poor. No reason why he couldnt have got another flight or made his way home another way. If it meant getting it out of the way before the season starts, even if it meant a nights travelling, it would have been worth it.

Totally stupid.... The only people to lose out would be the club. As an aside, I think I read on here that the new company actually orginated the ride side of Hampshire.

Try it again trousers, it still works for me. Basically it says that Peter Storrie is making a return to football, suggesting pompey. He then qualifies it by stating he didn't say what club.

http://www.fansonline.net/portsmouth/mb/view.php?id=351916 http://twitter.com/#!/pn_jordan_cross Now this I have to see

It's all a bit quiet, not sure why clotterill hasn't snapped up his three players who were just waiting in the wings and ready to sign. I am sure it is just logistics as he hasn't even met the russians yet. I wouldn't read to much into that though, 60 miles up the A3 is long drive and they are all very very busy people. True to form, though, the natives are getting restless..... no no, not about the distinguished pasts of their new owners or indeed where the money is coming from.... They justy want the money and want it now.... they could lose out on kaka at this rate.

That is total cases, so some get not guilty, some get fines and some go to nick, but if it is his first offence, he should be fine.

30% of all ABH charges result in community service. He is pleading not guility, which will go against him if it proved against him, but as long as he hasnt got any previous he should be fine in avoiding prison.

Its ABH - He wont get a custoidial sentance

Absolute tosh. Keep it to a single page

Keep it to a single page.

Phil you ******* idiot. I have 4 hours and 22 minutes to finish and submit a $3 million RFP and you come up with this little gem. "HI" I'm after an extension on the RFP "Why" "Phil reckons the pompey takeover is slightly flawed" "No problem, crack on and report back"

A good example being; Chris Marsden - When we were in the Prem, he coudlnt get a game for Birmingham in the division below. He came to us and well (Apart from being shockingly **** for the first few matches) the rest is history

Taken from pompey site CSI are just the front men. There is some very big money behind these guys with Middle Eastern Connections (Fahim may or may not be involved). Not sure

Saints in battle with pompey for Howard http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/pompey_set_for_battle_with_rivals_for_howard_1_2737754

Translated; Guys, Before we answer any awkward questions on the structure of the deal like; Who still owns what?, What charges does chanarai still have on the club? Did we manage to buy the land of gaydamak? What interest rates are we charging on our loans that we put into the club? How will the CVA impact us moving forward etc etc, Can you just start behaving as thick as you look and celebrate the fact that you have new owners who only have the best interests off the club at heart and get yourselves of to the ticket office and buy those season tickets. Once we have reached the required number, we will hold a press conference and let you all down gently.

I don't think anyone (Lumpitt included) really knows what exactly the russians are bringing to town. But what we do know (As pointed out by Rallyboy) is that yet again they have been taken over by people that have been troubled with accusations and stories of; Money laundering, fraud, connections to the russian mafia, assasinations and who have been refused financial services licenses to name but a few..... When google offers you 18 pages of potential wrong doings, you could be forgiven for thinking that one of them might be true. But as that seems to be par for the course for most of pompeys owners, we should not be surprised nor dwell on it, the juicy stuff is in the detail. The detail in this case being - How is deal structured? Has Gaydamak sold him the land (Don't think so, last week he opened a funfair on it with the staff dressed a s clowns (I kid you not) ) Does Chanarai still have any stake or ownership to the ground, players etc. What is happening with the CVA? - Why now (This is the killer one for me) ? Chanarai was / is secured to the tune of 22 million, from the original 17 he lent them, he already had a 4 million back in January of last year. Which is a decent return. BUT, the club was simply passed back to him from administration (Subsequently confirmed by the administrators) without cost. Why didn't the russians buy it out of admin for a fraction of the cost - dubrov has said they have been looking at it for over a year. - Why portsmouth? the investment needed, the debt, the intial buying price etc etc. produce a total that could buy you half the championship and a half a dozen prem teams, all with better facilities, infrastructure and larger, more loyal fanbases. So it is full circle and as per normal, more questions than answers. There is however one thing I am sure of; Anyone that thinks this is just a run of the mill football takeover, with a clean slate and sustainable long term future, should seek medical advice right away.