Gemmel

Assumming the creditors meeting this week hasn't happened yet. Does anyone know if the creditors can pass a motion (And if it actually means anything) of no confidence? Just thinking out loud....

Soccer Sauce ‏@soccer_sauce Southampton bid for Jason Steel now imminent we understand#SAINTS #SAINTSFC #MFC #BORO

An intresting post from the news site; Overthehill makes a very good point, if Wellington where charging £500,000 per annum then surely the valuation of FP at £2.75 million is way out? If we work off the £500k figure, which is 50% of the figure BC wanted to rent FP, then the gross yield would be 18% at the Trust's valuation (36% at BC's valuation).

If Chanrai can prove that pkf haven't acted in the best interests of the creditors, then it is a mucky road ahead.

[quote=FloridaMarlin;1575504 http://www.portsmouth.co.uk/sport/pompey/university-deliver-pompey-training-ground-blow-1-4654496 ‘It is entirely my decision and also has not involved the Trust. We need to run the club as economically as we can Anyone else find it scary that it has taken birch - an administrator to work that out

I've seen us lead against man city, man utd, arsenal and chelsea. Yes we are competitive, but as a curve ball to this thread, do not believe we are fit enough.

I'd go along with that. The amount of the shortfall (Picked up by the hnw) would have to be based on a definatve date. Birch knows how much is the bank, how much the wages are, how much is coming in from the next PP, how much is committed to ex player compromises, how much his fees our and roughly the ticket income inbetween. So unless there is a commitment from the hnw's (Which based on this cost cuttting excercise, would appear not) that they will pick up ALL running costs, then there has to be a date to which Birch is running to. My guess would be a week or so after the PP is a made and whilst it is still guess work before now and then; 1) They need to go to court and win 2) The trust need to convert around another 45% 3) Chanrai needs to walk away without a fight That's a lot of asks.

Joe Michalczuk ‏@joemichalczuk Too many people tweeting me something factually incorrect. Portpin have not failed FAPP test -anyone who says they have are liars/misguided

Joe Michalczuk ‏@joemichalczuk Are we as Pompey fans - as followers of a club of our stature in league one - going to accept asset stripping and cost cutting like this?

The budgets will be trimmed to get them to the next parachute payment in Feb. Every last penny is accounted for. The ex players will get their money, PKF will get theirs and the pdt will have to have raised another 800k, just to take over an empty bank account, no stadium and about 3 contracted players.... and that's if the judge even gets to hear the case before then. 1600+ pages and my personal take on it, is this is as close as they have ever been to liquidation. I have said the whole time, they would never get wound up, but I am really not sure at all now.

Nicely done Agent Howard-Your work is done http://www.portsmouth.co.uk/sport/pompey/harley-heads-list-as-quartet-leave-1-4654312 That dumb buy has copped it as well

I think it was Seaman that said the worse place for tapping up players was the England dressing room.

We know we do it because Bart, said in the fans forum how Burley had told him not sign for anyone as he was getting the Saints job and Burley joked "Ignore that comment" or something along those lines.

Just won a free holiday to Anguilla in February - Happy Holidays :)

Of course we do (And should)

Yes - But only because of the Chamberlain money

Apart from the fact that we have taken out a loan for an unknown amount with a charge against ALL assets, you could be right. We are in debt.

That's a really good point.

Hi Clapham - If the shortfall between what the court agrees fp should be sold for and the 17 million pound charge, became unsecured debt (So lets say around 10 million) would such a material change allow for a creditor with 0ver 70% of the debt, to force a new vote or take any other action? Just trying to see what is open to Chanrai

I think we could see some developments this week. This creditors meeting could provide a few laughs - Might also reveal something about this 2 million pound floating charge.

With 30 million spent in the summer another 20 million on the training ground and the latest two players we are linked to, could be another 20 million, we are spending some serious cash - And that's before the wages! I'm sure it's fine, but I am a bit thrown by the loan, the incidents at the training ground and non contested court case. I have confidence in Cortese and I guess that should be enough, but there are plenty of examples out there of clubs that have overspent. May be we are still being bank rolled by the Family and all is well or even if we are not, we our within our means, but it still seems wierd to see players we have bought and those that we are linked to, for such vast amounts (I'm not complainig). This is probably the single most important year ever to stay up and, I just hope that isn't clouding judgement.

Nope.... It's business as usual http://www.portsmouth.co.uk/sport/pompey/pompey-keene-on-bringing-striker-back-1-4651194

Not a chance. I am convinced, that the coverting of the 33 million pounds into equity, was final gesture from the family. I believe we will now need to be self sufficient and the loan that we have taken out, will (I hope) be based on the Premier money we get in June. I think people are kidding themselves if they think there is a 300 million war chest, that was left alone in favour of a high intrest loan secured against ALL assets, because of some tax benefit.

The Creditors meeting is an intresting one. If the court case goes in the favour of pkf, then the dynamics of the creditors changes completely. Chanrai would almost have more power. - Actually more power is not the right words, he would be in a position to block a cva