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buctootim

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Everything posted by buctootim

  1. Good article explaining new parachute plan here. http://www.telegraph.co.uk/sport/football/leagues/premierleague/7641526/Football-League-clubs-at-odds-with-each-other-over-Premier-League-payment-plan.html
  2. Not according to the Times. Just asked for more detail http://www.timesonline.co.uk/tol/sport/football/football_league/article7112021.ece
  3. Thats my understanding too. In that case I cant understand, since the administrator is duty bound to act in the best interest of all the creditors, how he can choose to pay off one set and give the finger to the rest - the majority.
  4. Great. The more they **** off the PL, FA and other clubs the better imo.
  5. AA just doesnt sound very bright or on top of his brief. Lucius Pett their operations directors seems a bit more plugged in.
  6. The players are no more liable, but no more special or deserving either. They should stand in the creditors line along with the schools, HMRC and everybody else.
  7. AA wants the CVA payments spread over 4-5 years exactly because he wants to use the parachute payments to pay off creditors. There will be bugger all left for Lloyd get his hands on.
  8. to the extent of making the directors personally liable or criminally negligent?
  9. surely he is duty bound to call the meeting as soon as he possibly can, to minimise incurring further debts - not hang around for a good news day?
  10. I fear it will be too late to stop pompey getting away without meaningdful punishment. I'm damned sure there will be action to stop the whole stinking mess happening again though, whichever party wins the election.
  11. Accountant Nick O'Reilly of Vantis, who had prepared the financial statement that Pompey had to submit to the High Court in February, said Pompey's business methods had gone "against all good governance". "I came away not knowing who controlled what," said O'Reilly. http://news.bbc.co.uk/sport1/low/football/teams/p/portsmouth/8628604.stm
  12. You're right in that nobody will buy them for more than the value of the assets, so Chanrai will stay as owner and sort out a deal with Gaydamak that sees them getting the most back out of the club that they can - and will do whatever is necessary. I really can see Poopey still being around in some form - but with Fratton sold off and all decent players gone.
  13. Running up £100m of debt at a club pompey's size and turnover is criminal - or at least it ought to be.
  14. Seems to me the PL have done some nifty footwork to avoid the accusation that they killed Pompey by not allowing sales. If the sales are allowed and dont raise enough to cover their cashflow needs till the end of the season it makes clear it is Pompeys mismanagement not the PL's. Besides the PL seem to have extracted a price for this support. Wonder what it is.
  15. I think the current owners reckon they persuade creditors to take a small slice of what they are owed, then buy the club out of admin, sell the ground and players, recoup as much of what they owed as possible, then walk away. I guess the club will survive in some form but royally you know whatted for years.
  16. That Telegraph interview sounds like Storrie in "come and get me. I'll spill all the beans to save myself plea" to me.
  17. How can AA be very confident of agreeing a CVA if negotiations havent even commenced yet? Nonsense. Asked by The News how confident he was about reaching a Company Voluntary Arrangement (CVA) with creditors before this season ends, Mr Andronikou said: 'I'm very confident. 'It's our absolute focus. We are looking for the CVA to be in place around May or June time.' Negotiations with all the club's creditors are close to commencing.
  18. Read this in the Times the other day. Sums it all up really. "What’s changed since the Premier League broke away from the Football League in 1992? Everything. If you won the First Division title, you were the best team in England. If you win the Premier League, you owe someone £500 million."
  19. Taxman lacking sympathy as Portsmouth lose points Revenue dropped a winding-up petition against Portsmouth in the High Court this week, having challenged Balram Chainrai’s right to take the club into administration, but the taxman is determined to play hardball over their debt — which is understood to be higher than the widely publicised figure of £12.1 million — having run out of patience with the football industry over its financial excesses. Despite its acquiescence in the High Court, Revenue has warned Portsmouth in the starkest possible terms that their debt must be repaid in full. N
  20. This quote from AA made it for me "I would also say that in the last few months that I believe he has exercised his judgement to try to save the club at all costs". I reckon you could well read that to mean "he has acted dodgily /illegally to get out of the mess he has helped create".
  21. Actually from that distance it looks like a half decent stadium in a wasteland. Its only when you get close up you realise its a ****hole in a wasteland!
  22. I hope you guys are right. Too many twists and turns to come to be sure of anything yet IMO.
  23. Worst outcome would be if the creditors agree some pence in the pound agreement this Summer and pompey start off next season debt free and with guaranteed £11m parachute payments for three years in the CCC. That would just perpetuate the unfair advantage they've already had.
  24. Anyone who concentrates on winning support without having got round to the tedious business of actually tabling a bid is more than a tad suspect.
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