Gemmel

Barclays pulled the plug??? They agreed a reduction program on the overdraft, which lowe knew would take effect when he regained control (If he couldnt manage it, he shouldnt have come back) and the fact that his very being here was affecting reveunes). Lowe went past that and effectively called their bluff. He played chicken and lost over a cheque for less than 4 grand. We should also remember than in the January Transfer market we didnt ship out anymore players and in fact bought in one more, increasing our liabilities. Without any knowledge, or facts, my personal opnion is that was straw that broke the camels back. The working relationship with Leon and Barclays was strong and there is no way he would have let us go into admin on his watch and i don't think that Barclays would have put us under the same pressure as they did rupert. They irony is of course, without that sequence of events, we would never have had Marcus, so in many ways I am grateful to lowe. I think we have seen from the way other clubs have been run, that lowe wasn't the complete ogre that some of us thought he was, but he should never have come back and lets not forget he did it at the time we were fighting relegation.

Cheers JRM

Is anyone going by train? The best i can see is 80 quid return - Are there any offers out there I'm missing

I really can't be arsed to go into this all again, but it was not Barclays that put us in Admin. We put ourselves in admin,, in order to protect the Directors for becoming personally liable. Lowe got his sums wrong and issued a cheque to Keith Granger that bounced. He played chicken with Barclays and lost.

Here's another one..... I don't think MLT and Rooney will ever be best mates http://www.express.co.uk/posts/view/207574/Le-Tissier-up-in-Arms-over-greed-in-football

Yes. The storrie case is different to mandicks and arry's because their cases were for personal gain. Storries, case is against him in his capacity as CEO for the club and the precedent here, is Watford..... who were a new entity, new board and they took the evidence themselves to the FL..... who then whacked them with a points deduction. The key here was the fact that it was club business and they will make you pay.

Storries tax case will get you a points deduction if he loses it.

Yes, Lampitt was claiming he knows nothing about them selling, but it's the logical step now for chanarai. He remains the secured creditor, so that money is protected and now he can pocket another 10 million quid or so by flogging it off. There is going to be an investigation, but ........ its being done by andriod. However, HMRC aren't done yet and will go after gaydamak and Storrie (IMO) so we might get to find out a little more about any dirty dealings. Today in the commons someone tabled a proposal to govern football clubs and their finances as they (Football clubs) were incapable of self regulation. I only caught a snippet on the news, so hopefully will see the full thing later on

Knockdown as in free? The CVA, and the interim report, made no mention or allowances for funds raised from the sale. Chanerai was never going to stump up a wedge for the club, but now its his without the debt he can sell it on (SSN believe that is already happening) and make some more dosh. What I dont understand (And posted about last week) was that if anybody else offered andriod cash for the club, then he would have been duty bound to take the best deal for the creditors....... although he didnt exactly encourage potential buyers.

I think this is where an "off the record" conversation would work best. Tell HR what he wants and the reality of not getting it would mean he would be off sick for the foreseable future and cost the company more money in the long run.

Well my friends the time has come…………………. From Duncan’s very first post we have had 5 owners to laugh at (Gaydamak, Al Fahim, Al Faraj, Administrators and chinchanarai) all of which gave and contributed unconditionally to our entertainment. Whilst I expect the sixth new owner to be in place inside four months, the actual “takeover saga” has, like all good things, come to an end. There will of course be twists and turns ahead and the 24 million pounds worth of debt, still needs to serviced and wages (Including Tax and NI) need to be paid. No doubt other threads will spring up and highlight their shortcomings, but the ride is over and it is time to close down this “Thing of beauty” and lock the thread. So from the broken bank files, Thai prostitutes and dodgy calculators through to court cases, European appeals and seized car parks……. And everything in between, a huge thankyou for the laughs. A special mention for Peter Storrie (Whose still working 24/7 in a hotel in London, trying to convince the South Africans to buy) Without which, the thread, entertainment and belly laughs simply wouldn’t have been possible. Quite possibly the funniest businessman I have ever seen or heard and we can only hope that with his 25 years football experience, he finds his way back to fratton park in the very near future. So with a heavy heart, goodbye “pompey takeover saga” and I can’t wait for the book.

rockandrollman were you down the alfred telling everybody that 6 players had to pull fonte off of pardew? What was that about the real world???

LMFAO .... pes, that made me laugh, good luck fella

LMFAO .... pes, that made me laugh, good luck fella

Might be worth chucking a little conspiracy theory in here..... What if HMRC are pushing Gaydamak to take this stance, in reward for not going after him personally (Which they have threatened to do).

Might be worth chucking a little conspiracy theory in here..... What if HMRC are pushing Gaydamak to take this stance, in reward for not going after him personally (Which they have threatened to do).

Indeed he would, the problem is that both gaydamak and chinchanrai have charges against the same assets. They both own the stadium and they both own the land..... according to andriods interim report.

Indeed he would, the problem is that both gaydamak and chinchanrai have charges against the same assets. They both own the stadium and they both own the land..... according to andriods interim report.

http://www.fansonline.net/portsmouth/mb/view.php?id=306976

http://www.fansonline.net/portsmouth/mb/view.php?id=306976

As others have said, it wont happen (Them being liquidated) but a worthy addition to the thread and heart warming story ahead of a night on the lash

Portsmouth Football Club is extremely disappointed to report that it has not yet managed to achieve the exit from Administration, despite the extensive efforts of the Football League, NewCo, the Administrators and their various legal advisors. The process has been extremely complicated and there has been a team of people working night and day to get the deal done. The most difficult aspect has been trying to achieve agreement with Alexandre Gaydamak after the remaining parties have agreed the deal and executed the necessary documents, namely the new owners, the Administrators, the Football League and the creditors. Unfortunately, despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Mr Gaydamak and this has now made the deal impossible to complete. Put simply, despite being offered full payment for the secured part of his debt in accordance with the financial plan approved by the Football League, this morning Mr Gaydamak has demanded a very significant upfront cash payment in order to allow the deal to proceed by releasing his security. All this is in spite of his lawyers going to Paris this morning specifically for the purpose of witnessing his signature to the document agreed yesterday. It is neither in the interests of the club nor its unsecured creditors for such a ransom payment to be made, particularly where the payment is being demanded by one of the authors of the club’s current circumstances. In addition, and equally importantly, all of the business plans submitted and approved by the Football League would be fundamentally damaged by such a requirement placed on the club by Mr Gaydamak. We will provide further information as soon as possible. However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club. We would like to thank the Football League in particular for their support and assistance through this difficult process. All other parties had managed to reach agreement. This has now been undermined by the self-interested actions of one individual. Mr Gaydamak has provided confirmation several times that terms were agreed. However, he has continually changed his position in an attempt to exploit the goodwill of the other parties to the transaction. By now doing this he has shown complete disregard for the supporters, the club and the City of Portsmouth. His earlier comments when the club went into Administration about doing everything possible to save the club’s future do not appear to reflect his current actions.

Ok if Tom Lever puts 16 million on the table to buy the club from the administrators, doesnt andriod have to listen? I'm pretty sure Chanari is just retaking control and not paying anything for it......isnt android duty bound to take the best offer? If chanarai takes control for nothing and then sells the club on straight away, does that mean the adminsistrators have been errrr. whats the word ........

stanleys dune not alpine