pedg

So he has been negotiating with these people for at least a week and only now, 24 hours before he thinks the deal will be sealed does he get to see if they can walk the walk? As with everyone else I cannot see the normal business case for buying pompey. fizzy pop almost guaranteed, immediate return not guaranteed (going to likely be some 'big' clubs coming up from League 1 plus 2 other clubs with parachute payments coming down) but likely no reasonable return on investment till back in the PL. On top of that the court cases could inflict point losses that could easily have them in League 1 in 2 years time.

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QPR? ish?

Think the worrying thing for pompey is its supposedly a consortium and generally this appears to mean when buying football clubs that its a group of people each not rich enough to buy the club by themselves and that these groups tend to expand only until they have just enough money between them to do the minimum needed.

http://www.newsoftheworld.co.uk/sport/734267/GRANT-REJECTS-TWO-JOB-OFFERS.html However, after an emergency meeting with the struggling club's fourth owner of the season, Balram Chainrai, last Friday, the Israeli is now convinced there is no salvation in sight. Pompey's request to sell players outside the transfer window to ease £60million worth of debt before their March 1 winding-up order was rejected by the Premier League. But Grant still held a glimmer of hope the owner was moving towards a solution when he was summoned to the Hilton Hotel on London's Park Lane. That hope was dashed when he left the hotel two hours later ashen-faced with news that there was no new investment in place and that Chainrai was adamant he would not be throwing more good money after bad.

Am I the only one that line does not make sense to? Surely they are either a consortium or a company you can have both surely?

Well they definitely grate!

If the statement of account had FP as an asset and the loan as a debt what value was placed on FP in the statement? If it was more than 10M then they are worse off now than before.

Actually I think the club still owns the ground but one of Chainrai's loans is against it so he would have first dibs at the money if the sold it. By the sounds of the guardian article (or was it the telegraph one?) they are looking at finding someone to buy the ground for 10 million and they would then pay 1.4M a year rent. The money raised would go to chainrai so would not help their immediate cash flow problems. --- Got that a bit wrong but similar. Portpin would buy FP for 10 million whch would then go to portpin to pay some of the money owed to chainrai. Same result as above but without the third party Next is the proposal that Portpin, the company owned by the current proprietor, Balram Chainrai, will be sold the freehold to Fratton Park for £10m, which will be subtracted from the £14m he is owed.

Invest in pompey and get 12% return.. that is you will only get 12% back if you lucky.

You should eat more often

Any sign of this response yet? (or is it not publically announced?)

Let me guess, it was all a mixup and actually they are trying to turn FP into a tobacconists?

They might get a bit from the sale of assets (players walk free on liquidation). Their main aim is not to get pompeys money but to scare the begesus out of other clubs to pay their tax bills on time.

Think the third comment is also of interest... I have heard from a normally reliable source that certain people connected with this club who are going through tax court proceedings are in deep trouble. Allegedly they were taking cuts of almost every transfer deal done & ongoing wage payments as well. HMRC have the details but cannot prove these were other than 'gifts.' Therefore, the lack of tax paid on these 'gifts' is the only chargeable offence likely to stick. So rather than being a small charge of forgetting to pay a small amount of tax - it is a lot more serious. As said this is only speculation and is not proved or my opinion, but does come from creditable viewpoint

I think the other thing that the PL should consider is that by letting pompey continue till the end of the season then they are likely to be front page news for almost the whole time till then. Every week at the moment there is an embarrassing story (or 3) about pompey going round the globe and maybe they should balance out that long term drip feed of bad publicity against a short sharp solution now.

Short answer: Not today for the judge. Longer Answer: As I understand it HMRC should say today before 4pm if they will abandon the WUO order because of the information in the SoA. The judge will not rule till the 1st.

I hate arguments like this one off the BBC page: "The argument put to Fifa would say it's the integrity of the competition at stake here - if Portsmouth go under all their points would be cancelled and the league table would be falsely affected," said Ferquhar That's like saying those caught cheating with drugs in athletics should keep their medals because otherwise the results would be falsely affected. Sooner they realise that keeping pompey in the tables is more falsely affecting the table than having them removed the better (not that I hold out much hope).

I think someone said that it has to be something like a 16 to 6 majority or there abouts to agree something like this so a few objectors could still be overruled. Many would want to protect the brand for the sake of their long term foreign TV deals and to do that they would prefer pompey to play all their games this season and then disappear. Giving them the money as long as they take a penalty would achieve those aims.

Page says: The Premier League will ask the other 19 clubs before making a decision. My guess is that to get the majority then need to approve it the other clubs would insist on pompey taking a penalty which would probably kill the idea dead as that's something they appear to be desperate to avoid.

I don't think there has been any clarification as to if they would get a penalty in exchange for permission. They should do but if pompey are desperately holding on to the possibility of PL survival then they might not then take them up on the offer.

http://soccernet.espn.go.com/news/story?id=743842&sec=england&cc=5739 Though nothing we did not already know really.

I think pompey and the PL are playing a high stakes game of chicken. The PL want pompey to survive till the end of the season and pompey don't want to take the 9 point penalty as the only way they are anywhere near saleable with their level of debt is to be sold as a club that will be in the PL next season.

Must say this bloke keeps a low profile for a 'billionair' (apparently part of the "Enlightened Billionairs" group on linkedin). According to his profile: Director Fidco Global Limited (Privately Held; 1-10 employees; Financial Services industry) March 2008 — Present (2 years ) Fidco Global Limited is a privately held trustee company. Currently holds around six billion euro of assets under management. Expect to see that increase by another six billion euro in the 2008 / 9 year. Wow 12 Billion euros in assets!! Yet strangely a search on "Fidco Global Limited" appears to only bring up results for his linkedin page, i.e. the only reference on the whole internet (till this post) to "Fidco Global Limited" with its billions in assets is the blokes linkedin page!

Must say there is an incredibly small amount of info to be found online about this endeavour plan. There are listings in places such as linkedin by the man himself saying how wonderful it is and there is the bit from 7 years ago where he had a run in with the NZ authorities but besides that just about ziltch, and yet we are to assume he is in a position to both take over and clear the debts of pompey not to mention start making a profit for his investors?