pedg

Given that SA are 211 for 8 I think you can put your cheque book away for now.

That is a good article. The line "Some will want to add corruption to this co cktail (and I may, one day, be able to say something about this)" sounds very conspiratorial

My favourite was the last line. "Portsmouth currently lie bottom of the Premier League and are, effectively, screwed. "

Funny in places http://www.thespoof.com/news/spoof.cfm?headline=s6i69527#this

Ah, I see, so it will probably be down to pompey lite to buy the hammerite to stop the stands collapsing.

Some contradictory evidence that the PL will help pompey out?? http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7039197.ece Portsmouth were told by the Premier League last night that there is no way it can bail out the financially-stricken club. Also guess who is trying to keep their job? Peter Storrie, Portsmouth's chief executive, confirmed the club had already begun talks with an administrator and that he is prepared to take a substantial pay cut to improve the club's financial fortunes. Storrie is one of the highest-paid chief executives in the Premier League. "I have already spoken to the administrator and he wants to keep things settled, which means me staying on,"

Just wondering about the rent that Chainrai can charge on FP. If you rent a house then maintaining it is usually an expense for the owner. If Chainrai owns FP and rents it back would he then be required to pay for its maintenance, etc (After all the paint you can apply direct to rust does not come cheap!). Could mean that though he may charge 1M a year he may well not see all of that?

makes it with 3 balls to spare

On 199, one over to go but can't get the strike at the moment.

Tendulkar about to get 1st 200 in ODI's

That was while they were competing on an even playing field. Now they have accepted administration and all but certain relegation then one would expect that the PL chairmen would look more kindly on advancing them money, or at least making it easier for them to borrow now against future parachute payments.

Oh well so much for my prediction that nothing much would happen yesterday! Do you think I should try predicting the same for today? How will admin affect the court case from Campbell? I assume the case will be cancelled and he will join the list of creditors? He did say in his interview the other week that he was not alone in that situation so may see other creditors appear. Hopefully each will be ticked of against the SoA to make sure vantis included them? Talking of the SoA if it assumed they were going to be 17th then its now something of a work of fiction in places I assume?

What happens to the 10% that may (or may not) be held by their supporters trust? If they go into admin I assume it becomes worthless and they will not end up with any fraction of the club post admin assuming it makes it out.

I think we have all been aware that going into admin would stop the WUO since the order was first issued. What's surprising is that it has not happened sooner, afterall there was possibly enough evidence to proceed with the winding up at the last hearing.

"Mr Hall said the takeover talks were taking place with four consortiums." Well theirs your problem. Maybe as a consortium is just a group of people they could persuade them all to join into one super consortium?

Though possibly not paying tax on all of it which probably helped!

You already have 3 people associated with PFC up on tax evasion charges and you want a 4th???

Rather a risky game as they would not know if it would have bought them more time till the court case on Monday.

Strangely when the phrase considerable fortune I somehow don't think of a football club. Well not unless you put 'lose' in front of it.

"Cattermole insists his interest in buying the club is genuine." What do you expect him to say.. "Well actually I am a chancer with a dubious financial past, don't care for the club at all but in the chaos thought I might be able to make some money at someone else's expense"

More detail on the news website... http://www.portsmouth.co.uk/frattonlatest/Time-is-running-out-to.6095049.jp Pompey's takeover talks with a South African consortium almost collapsed last night when the bidders missed a crucial deadline. Current owner Balram Chainrai had set the consortium a 4.30pm deadline to produce enough evidence it has the financial clout to invest in Pompey in the long-term. The News understands the consortium did not satisfy Mr Chainrai's demands, throwing a spanner in the works. ... But The News has been told failure to strike a deal with a bidder by the end of today could see the club choose to go in to administration rather than face possible extinction at the High Court on Monday. This is despite Mr Chainrai's pledge to pump in his own cash if he can't find a buyer.

Its fairly obvious than none of the 3 alleged parties have enough money to completely drag pompey out the mire. At the moment it looks like chainrai and co are having difficulty even getting one of them to confirm they have enough money to pay off HMRC let alone take the club forward.

There is some (to put it mildly) debate about this. I think.. The company itself cannot put itself into admin but a secured creditor can. Some debate over whether Chainrai is still a secured creditor or not now. They can also apply to the court to be put into admin I believe. As to why choose admin then gady has not say in the running of the business (allegedly), Chainrai has the ground now so given the choice between pompey being in admin and surviving or going completely phut there are some advantages to Chainrai to go into admin as more chance he will get his rent on FP then if they are bought up. Main risk with admin is that there is a good chance that it may not be sustainable till they get a buyer in which case it goes phut anyway.

So what to we reckon for any major events today in the continuing saga of a football club that has gone to the dogs*? My bet is nothing. (* this phrase reminded me of the muppets and the first link could not have been more appropriate to the situation at pompey: http://muppet.wikia.com/wiki/Veterinarian%27s_Hospital Dr. Bob (played by Rowlf the Dog), Nurse Piggy (Miss Piggy), and Nurse Janice confer over a series of patients, telling an endless series of bad jokes and failing to effect any cure. Insert your favourite comedy pompey characters above)

Escalation alert. 48hours has been upped to 96 hours. http://www.skysports.com/story/0,19528,11661_5973144,00.html Portsmouth are in discussions with three separate parties as they attempt to secure a rescue package to solve their financial crisis, but it might be the weekend before a deal is concluded, according to a spokesman for owner Balram Chainrai. Bit odd that on one hand there are lots of meetings going on: When I left them 10 minutes ago, two meetings were going on in one London hotel and (chief executive) Peter Storrie was meeting another group in another location. "So they certainly could not try harder to try and put a deal together." yet apparently: He continued: "They have absolutely insisted that no negotiations will go further unless there is proper proof of funds. Make your mind up, either you are discussing it with people or you are waiting for then to show you the money, you can't have it both ways.