pedg

Guess that pompey have either done some walcott type deals to get less money early on the outstanding transfers or they have already borrowed against the transfer payments?

Leslau took part in the Channel 4 programme Secret Millionaire, Not another one?!

Also not forgetting that one or two people might be due their cut of the transfer fee!!

Neither article really gives any details though. Wonder if the reasons for the fines will come out at all?

The fine will come out of their next batch of TV money so it will make them £1M less attractive to buy and as tesco says 'every little helps'.

Can you access this one? http://www.skysports.com/story/0,19528,11661_6046085,00.html

According to random post on the news website About the fine. I did hear a rumour that this is to do with the fuglers account. As PFCs bank account was frozen due to the winding up petition any money going out had to be approved by HMRC as the club used fuglers to bypass this rule to pay other creditors(pay Gaydamak) this is against premier league rules as the account isn't registered with the premier league. As I said this is only a rumour but makes sense to me but will have to wait and see what comes out.

When pompey get wound up can we have corps ID set to 'Discorporeal Ho'?

At least Mogadishu has a stadium that will hold 35,000 http://en.wikipedia.org/wiki/Mogadiscio_Stadium

The Commotions?

I wonder how long it will be before those in charge at the PL realise that a 'short sharp' winding up might have been less damage to their brand than having Comical Avi and the rest of the roadshow carry on till the end of the season?

I think the link is a mistake and if you read the comments further down the chap appears happy that he was the first to report the HMRC's position on Chainrai. One might guess that the position on whether Chainrai was a secured creditor or not might be open to a number of legal interpretations and that once they had the documents HMRC considered that it was possible he was not a secured creditor but that this could be hard to prove. So for now they play the waiting game.

Where does the creditors meeting coming soon fit into this? If there is no sign of any bidders can the creditors have any feedback about what they want to happen after all the administrator is supposed to be running the club for the eventual benefit of the creditors I believe?

Should we start the 'relegation confirmed' sweepstakes? I reckon that, somewhat comically, their relegation will be confirmed at the end of their match against spurs on the 27th.

Very cunning by Sullivan. Not paying the money and when the players complain he tells them to go and clarify the situation with HMRC. Are any of the players going to instigate a test case that could see all the other players or their clubs liable for tax on the image rights payments? Personally I hope HMRC get stuck into the image rights thing as, was shown by the sol campbell case, you have people being paid for their image rights but the amount the club are then making from using their images is considerably less. Hard not to come to the conclusion that if the club are making a lot less from the images than they are paying in image rights that it is a complete tax dodge.

One thing that gets me is why is the admin asking for a £3M non-returnable deposit before any negotiating? I can understand that he might want them to punt up £3m in deposit to show they are serious but why make it non-returnable?

Wonder how this might tie in with the bit in Matt Slaters blog about the court case with the little reported part that HMRC are still reserving the right to challenge Chainrai's position as a secured creditor if they want to? Guess they are working on the assumption that if the club is sold, as is, then they will hold out against the CVA as per normal with the hope of getting all the money if a rich idiot takes over but that if its wound up they may then go back to court to try and level the playing field between creditors?

50%

further confirmation, as if it is needed. http://www.sportingintelligence.com/2010/03/17/official-portsmouth-docked-nine-points-for-entering-administration/

http://www.bbc.co.uk/blogs/mattslater/2010/03/taxman_beats_tactical_retreat.html The importance of these documents is that they should make the Hong Kong-based investor a "secured" creditor, placing him at the front of the queue, alongside the players, for whatever cash Andronikou can squeeze out of the club. I say "should" because buried in the subtext of Tuesday's deal between HMRC and Chainrai/Andronikou was some devilish detail: the taxman is reserving the right to challenge Chainrai's secured status ("that may have to be decided by a court at a later date", as Gregory Mitchell QC so expensively put it).

Getting back on topic, sort off, when the judge said they had to hold a creditors meeting within 10 days, is that going to be working days? i.e. will it be middle of next week or the monday of the week after?

The only chance of them getting money from a hedge fund is if three idiots called Privet, Hawthorn and Box decided to have a whip round.

They can spin it how they like but the fact that they have to pay the court costs and that the creditor meeting will have to be a lot earlier than would have happened otherwise makes it appear that HMRC got more than the admins had hoped for.

Any 'wilde' guesses about who this reminds me of? http://www.liverpooldailypost.co.uk/ldpbusiness/business-local/2010/03/12/tv-s-secret-millionaire-gets-lifeline-for-property-group-92534-26016161/ He founded Eatonfield while living in a caravan in North Wales in 1998. Last December, the company reported a pre-tax loss of £5.69m on revenues of £8.45m, for the year to June. Year-end debt was £30.5m.

ITV HD from the 2nd April on virgin http://pressoffice.virginmedia.com/phoenix.zhtml?c=205406&p=irol-newsArticle&ID=1401852&highlight= and Sky http://corporate.sky.com/investors/press_releases/2010/HD_channel_milestone