Gingeletiss

Nice article again by David Conn. I dragged this little snippit out... The Premier League rejects the idea that this is a major embarrassment that should prompt a bout of soul-searching. Portsmouth's collapse is due to rank bad management and overspending, they say. That is true, and it is the administrator's job to decide whether the problem results from even worse practices than that. But as far as we know, Portsmouth did nothing against any rules; they followed the accepted Premier League model for a club – overspending, beyond the club's true means, financed by loans from an owner and banks. Portsmouth's core problem at the end of Sacha Gaydamak's ownership last summer was that he, who had passed the fit and proper person test and satisfied the league he owned the club rather than his father, the now convicted gun-runner Arkadi Gaydamak, had become simply not rich enough. Then the overspending became unsupportable and Pompey, three owners later, have collapsed. The latest, Balram Chainrai, loaned money, apparently £17m, into the club in return for mortgages on Fratton Park and the club itself, and it should be noted that this gives him priority to be repaid first and, most likely, emerge again as Portsmouth's owner. The players have to be paid in full for the club to be allowed to continue, and the "ordinary" creditors, again, will be paid a fraction of what they are owed. That is what infuriates HMRC about football clubs, and the tax authorities are certain to be left short again. The above in Red has already been discussed on here. As to Chainrai ending up as owner...lol, we have said that for the past fortnight. The bit in green, is my main point. Who in their right minds, will want to do buisness with Poopey now. Local firms have been stung twice by these cheats, I would think they would find it hard to operate, short of 'cash in hand' contracts IMO.

Come on you IT wizards...the picture on this link, must be good for a caption competition http://www.telegraph.co.uk/sport/foo...are-found.html My take...'let me tell you a storrie'

Bare in mind this small fact. The football creditors will be getting paid of bit by bit, thus reducing their share of the debt. HMRC will not (unless someone wins the lottery), thus they will be increasing their share of the debt;)

Should be e-mailed to the PL.......transparently my r's, a word that they have failed to adhere to regarding Poor smouth.

Surely if reversed, it would be a 'p'.......

Ummmm!!!......Mr Fry said that when we went into administration, did he not??

Interesting fact just given to me, as it happend here at our firm. That is, Customs and excise, can at any time, give notice that they are coming to see your books, and they come mob handed. So maybe, just maybe, Storrie may get a phone call!!!!!!!!!!!!;), one which could well change his life forever.

There is a sh1t load of shreding to be done, you know!!!

Oh, but they will Mero. If, as some suspect, this is a pre-packedged administration, then you may well find that some croney of the gunrunner, will be the lucky new owner, and your ten year cycle of corruption will begin again.

PES, as Graffito said, trying for the moral highground, is a big fail IMO. You come across as a well reasoned bluenose, trouble is, you are a minority, not a majority. Just look on your forums, contrite...no!!!, ashamed.....no!!, embarrased ....no!!, instead we see gloating. We see 'now lets win the FA cup, a cup in which you have cheated, by the letter of the law, but the FA have dismissed this, and like the PL, burried their collective heads in the sand, in the hope it will go away. We see the 'all our debts have gone now' postings, we see the 'we will storm the championship next year' postings, we see the 'lets sue the PL league postings. Why PES, even your very own post above, has failed in any way, to indicate shame or sorrow. Instead you have a go at us, so let me tell you friend. I didn't have a go at Leeds, or Luton, nor have I had a pop at Bournmouth Leicester etc, I feel sorrow for Chester, and empathy for Crystal Palace. Your cheating lot however, I wish the worst for, and I believe strongly, that this train crash called Poor smouth, is still coming off the rails. This will run and run IMHO.

You me, a few other Saints fans, and.............. Previous Thread | Top Of Board | Start New Thread | Next ThreadArsenal_Away_1970 Posted on 26/02/2010 11:09 Sounds Familier? Email Message To A Friend | Reply To Message Devaud said Gaydamak and Falcone had built a "secret organization" with multiple fictitious enterprises to hide the flow of money resulting from the debt renegotiation, to the detriment of Angola and the Russian Federation

So now we wait!!. If and when some of the top earners have their contracts torn up, the loanies go back (I hope), they will be a very weak team indeed. Mayhap then, other teams who have played them and lost (Liverpool!!!), make take the PL to task, as they will be giving teams yet to play them, a big advantage. Personally, I think this storrie:D has yet to finish. HMRC will be seething, I fully expect a legal investigation of the shenanigans that has taken place. I wouldn't want to be in Storries shoes come his day in court, or twitchy either.

.....and isn't he talking a load of sh1te!!!. Same old same old 'great community..great fans...big club), lol, he is just droning on and on, 'arry great manager etc etc.

I really really thought, that the HMRC had a trick up their sleeve. This is really a dark day for football, it's a green light for all clubs to run up un-sustainable debts, then clear them with the courts blessing. POOR SMOUTH, you shame all well intentioned football fans.

Why not???...as the only way they can come out of administration, is by being taken over!!

1030 hrs so I believe.

I think that what badgerbadger posted, was a quote from a skate on quay radio from yesterday...........I may be wrong!!

That's an over 50's perspective for you!!

I'm sure it will be fine, he's had two phone calls about this, and an e-mail!!

I've heard that it should be built in 48 hours.......

Yeh....skate boards hailing Chainrai as a hero, for paying them on time......methinks the PL whom they have slagged off big time, may have claim to that hero status IMO.

Not for the first time nick, that this has been mentioned. Look at the club that will be Poor smouth. No Ground, no training facility's ( many of those used this season will lose moneys owed ), no parachute payments ( paying football debts/wages for the rest of the season ), minus points will be dealt out in the Championship ( if they get their Golden share ), investigation by fraud squad ( I hope;) ), and most of their team transferred or given away.....now seriously, who but a crook, would buy them:smt036:smt036

See Weston, this is what I'm hanging my cap on. Chainrai, who, due to his not being a secured creditor, but is in fact the 'owner' or not as the case may be:smt103:rolleyes:. May find, that the original application for WO, means that he has no say whatsoever in what happens to Poor smouth, and this may be the Trump card for the Goverment:smt036

Ummmm!!!!!...........we'll see. I'm not saying you're wrong, but I have believed all along, that they will get their come-upence, and I still believe that. I will be rooting for HMRC, I think they will have something left to say on this.

Round and round and round she go's, where she stops nobody knows.... Weston Saint, it is my understanding, that they have to apply for administration. I asked this question before, could not the courts prevent administration, based on the facts that a) they are insolvent, and B) they have no assests to make administration a viable proposition. Answers on a postcard please!!!!!!!