dubai_phil

Kelvin Davis was in the Premiership with West Ham not long ago and now look at him really not in it Wycombe taters opinion

FFS Solent keeps dropping out have had to switch to Wycombe taters - BOY do they have annoying squeaky voices

Currently 25C and clear here today, was a little windy yesterday, expecting a high of around 30C tomorrow, worrying reports that there may be one white puffy cloud passing over for about 15 minutes in mid afternoon. Now what happened to the Muffins?

Apparently Hamster is the expert on providing those (from last year's forum match) meanwhile our manner of performance has to be got to grips with... Dave you are our hero - you obviously read this thread duing the games as you clearly have your new cliche book open tonight Will we get through the game without a conceding.... Looks like Wotton may have to come on Hammond off

YOU HAVEN'T HEARD YET! FFS 8 pages since 4:30 today :smt033

Blue Dragon Penang Curry Paste, Coconut Milk and a splash of Brandy in the sauce, but the trick is to marinade the meat in Jerk Pork Marinade for a couple of hours Finally the football is starting to sound more interesting than my dinner

Well, you know how it is, now I'm a football manager again I have to ensure I am fully conversant with the whole Thai Culture thingy Sounded like we strung some passes together and RL got a cross in that the keepr dropped

C'mon Saints get the ball down and start playing football or we'll have to go back to the takeover thread Wycombe corner

Fair comment, my end is a bit dodgy but I put that down to my home cooked Thai Red Curry.

Rubbish pitch rubbish start, Wycombe bright & purposeful have an edge about them Sort of what we half expected

OK, so Solent are not at SMS today... So why the fook are they clicking out every so often... Oh and wow technology the taters posted a picture of the pitch on twitter

With apologies to Mama Cass...... Once I believed that when doom came to pompey It would come with rockets, bells and poetry But with this thread it just started quietly and grew And believe it or not Now there's something groovy and good Bout whatever they get And it's getting better Growing wronger warm and wilder Getting better everyday, better everyday I don't feel all turned on and starry eyed I just feel a sweet contentment deep inside Reading you at night just seems kind of natural and right And it's not hard to see That it isn't half of what it's going to turn out to be Cause it's getting better Growing wronger, warm and wilder Getting better everyday, better everyday And just like a flower that takes time to bloom This death of theirs is taking time to grow Ba da da da da da da da da da da da And I don't mind waitin', don't mind waitin' Cause no matter how long it takes The two of us know That it's getting better Growing wronger, warm and wilder Getting better everyday, better everyday Match Thread time

To have to read this from the start you'd not be late St Landrew, you'd be The Late St Landrew

:chain: Which is what I've been saying for the past 30 hours or so! This will get WORSE for them, not better!

Oops. Now THAT could be really funny.. But Mr Chanrai, you must have noticed that while you were doing Due Dilligence? So what you are saying Peter is that you could never give me the stadium as security for my loans in the first place? Well Balou, maybe not exactly, I'll check it and get back to you in say 48 hours?

And finally... 4 consortiums in meetings all day. Let's change the wording and call them what they were - Groups of people with an interest in affairs at PCFC. What are the objectives of interested parties? The Directors - Allegedly to try and cover their tracks but maybe to try and find a new owner HMRC - 1) Try to get paid their dues 2) Stop future losses 3) Teach Football a lesson The FAPL - To keep PCFC running to the end of the season to avoid a complete mess of the PL and the expunging of results Chanrai et al - 1) To avoid having to pay out any more money 2) To get a profit from the land that they hold Now with the WUO as the nuclear option, nobody in that group gets anywhere near to a satisfactory solution. So, potentially another idea can emerge. A deal can be carved out. Administration COULD work IF the FAPL can find a vehicle that does not let them pay the TV revenue in advance BUT allows the Administrator to keep the club running even with Academy players. There will have to be a balance there, they will have to show some form of competitiveness or teams who dropped points may complain Administration saves the FAPL's ass. Administration allows HMRC to have the HOPE that a buyer could be found (same motivation as the Directors) so that SOME of the due money will be recovered. WITH a vehicle to fund the club to the end of the season the HMRC will also gain more income. This could be shown to be a good deal for them Where does that leave the "owners" we saw with Saints they will be at the bottom of the hand out pile, so for them their BEST outcome remains the club is bought with new owners building a new ground on council land OR the club dies at the end of the season when they can build the squash court apartments and Tesco's. So tick tock again, the takeover charade can continue until the day they are relegated. We've all analysed the maths a takeover seems impossible, so as Sherlock says, when you are left with the impossible then that is the answer. Admin brushes the mess under the carpet People get the chance to get money back and (lol) sell the club So the question remains - who could the 4th group have been? Buyers or some form of financing operation? I smell a deal being done. If it has been then I don't see this as a victory for the few in their fight for survival. And don't worry "Indignant" of West End may not have to wait too long for the final curtain

TCWTB and the bestest fans in the world. It will now come down to this. What will be the best deal? Crystal Palace or Portsmouth? Pompey MAY be able to avoid borrowing BOTH their parachute payments, but other than that it is a close run thing then

GM an excellent post and one that I agree with. Although I am not sure that Saints would want to be the #1 slub in the south If I were to critique the outcome as we see it and defend the burn the witch faction, I still believe and hope that karma and The Law make their own retribution on the people that caused all this, from the star of their fake rise to the demise of their fake sheiks. Hopefully one day the "little guys" who have been hurt by these imbeciles frauds and possibly downright crooked fools who have run the club will be able to sit down and say that'll teach you, you b**std. That would be the right ending and as you say, years of enjoyment for us.

Oh no, we've been given enough ammunition to keep winding you lot up for decades!

Lol beauty sleep my arse! I was cooking a fantastic Pork Thai Red Curry (I'll save the actual recipe for the promotional tour and book signings when FF has time to get back on here after beating up big business.) Last 24 hours has been some sort of weird "Being John Malkovich" type moment, except it was Storrie teller (arrrgghh). It just seemed every move and every play has been so obviously choreographed, some of the press links/leaks coming less than an hour after we discuss an issue on here - fecking freaky. Next hot bet has to be the "Return of the sympathetic but hamstrung Premier League"

So the next question What will admin REALLY cost the club? We've seen how the costs of running the club to the end of the season are high (the SoA estimated 26mil IF relegated. Where will that money now come from? How much can be cut from that figure? It is all very well to talk of cancelling players contracts, but what if the players union advise their members not to accept "being thrown on the scrap heap"? So where is the cash flow coming from? That means the rest of this season's PL TV revenue - around 14mil will now have to be borrowed or "factored" likely at an interest rate approaching 20% so that gives them only half what Storrie estimated. Either they find an Ocean Finance or Chanrai extracts more based on lending at high rates of interest. I would imagine that the PL will do everything they can to help out here BUT they will not and cannot be seen to be giving them the money in advance. Next up to keep going to the end of the season would be to mortgage the parachute payments (if not already done). The likely outcome is that the club can get through to the end of the season, however for a buyer they would be having to ensure that HMRC do not block a CVA - the cash outflow still comes to 25-30 million to get to that stage. So, 25-30 mil outgoing for no assets and in all probability another season of losses.... Saints were a good deal in the CCC at that price - but - nada. Then there is the other minor issue. The SoA is still lodged with a court. Sure, the administrator can have the WUO removed, but the SoA is now lodged and legally binding. Did that show any wrong doing? Can Terry the builder demand access to take out a civil action against the Directors to get his money back? That angle may have some more mileage in it yet, for sure the administrator will face a barrage of questions from the disappointed creditors, IF local companies fold you can expect to see local politicians wading into the fray defending little Terry losing his family home while the big cheeses get away with it. They may have a way to get to the end of the season, but it is quite possible that there will be nothing left when they do. It may just delay the inevitable.

So, for the late comers. A summary of the consensus Admin is probably not an option as the running costs vs the operating expenses mean there is no cash flow to keep the club going If you cannot admin then you are liquidated, wound up, Norwegian Blue They had one person on Friday ready to go on Monday, this afternoon they are talking to 4 consortiums. The word takeover is no longer used in statements Storrie hasn't made any public statements for a day Nobody knows for sure even IF thay can be placed in admin Nobody knows for sure whether the court will hear the SoA even IF they are in admin to prove insolvency and possible other charges Administrators have to guarantee the running costs cash flow of the business as well as earning suitable fees for their time from any project. With no ST sales possible at best until June the only income is the TV revenue or the parachute payment. None of which will pay the wages due on Friday The only assets lest in the business are the players who cannot be sold until the middle of May at the earliest. Rumours have been posted that staff have been warned they may not get paid again on Friday. Anything else? (the edits) Chanrai talking to consortiums but acknowledges they lack credibility - foxstone Hmmmmmmmmm

And we ALL know what has to be done one dark night while they are digging the foundations don't we...... Oh no that plan was for their new stadium, what a shame we'll never get that chance now

If it was Storrie et al of course theywould try, but an administrator - unlikely. I used the point more along the lines that with those COSTS when linked with "non-negotiable debts" and the only income source above the future Sky Money (which may have been secured already) means that actually running them in admin is not going to be easy let alone the price that a bidder would have to pay. The book values of SLH's assets were around 30/40mil depending how Staplewood & Jacksons Farm were valued. Accepted we were by then in League 1, but from 32 expressions of interest we had only TWO "firm:D" offers before the final ML last minute bid was accepted. Most guesses show that to have been at around 14mil. The running costs and non-negotiable debts for PCFC look to be much higher than 14mil and there is nothing else, nada nicht nowt in the form of assets apart from players on contracts. How easy did we find it to get rid of our high wage earners? Thomas, Rasiak, Saga we sold our kids for not a great deal. I hope they can sort it out but forgetting the legals it isn't going to be very easy

OK, so I try not to get inbvolved in discussions about admin v liquidation etc as I have no idea about UK laws these days. But, what I recall from our and other experience. Enter admin receive Points Penalty. On Entering Admin you lose your "Golden Share" in our case or your "Playing Licence" but can continue for a set period I believe To exit Admin you need an agreement from the Creditors To be accepted back after admin with the playing licence you MUST pay your footballing debts in full. HMRC will not accept any agreement unless they get full payment. So, taking out the Gaydamark & Chanrai money which they seem to have secured against the land. Entering Admin will Wipe out the HMRC debt? No HMRC won't accept their exit from Admin under a CVA - more points penalties will follow I believe Wipe out the footballing debts - to agents & clubs? No You have to pay those in full. Wipe out Chanrai & Gaydamark's debts - No not entirely as they own the property So, in reality, the ONLY benefit that admin can bring is to screw ALL the local businesses and suppliers who are owed money and also to impact in the redundancy expectations of the staff. And in OUR admin, if you recall, we had two major D Days - where the wages had to be paid - on one of those we had help from Leon. For the other(s) we sold Surman Dyer & DMG Put where would the Pompey income for the administrator come from? No sales of players they need 3.1mil on Friday, then in March then in April then in May, probably about 2mil in June when you could FINALLY sell some season tickets. So to get out of admin 12 mil to HMRC, the footballing debts are what now? 4mil? and 12mil for the wages/op ex during admin. So a CCC club in admin with no assets that needs 28 or so mil spent on it. And yet Saints could not be sold for 30 mil after 3 years of asking.