derry

Fratton Park, BC would only get the value not the £17m in the charge.

Tony Husband on South Today clarified that the assets can be sold at market value by the administrators with court approval.

Is that more serious than 'we' expected. Now comes, If we don't fill the ground and bring in more income we won't last the season, then, If we don't get a buyer by the end of the season we will be in trouble, then, If the next parachute payment isn't released to us we will have to liquidate, then, if all the parachute payments aren't released to us we will liquidate, then liquidated. I don't think there is much time left as the dire situation is sinking in fast.

It's easy to see the unfairness of the football creditors rule. The only people certain of their debts being settled are the past, present and future football creditors from £16m of parachute payments still due. It is nothing but fraud that £100m has been written off in the first administration, (Does anybody really think it will ever be paid?) and now a second administration. The Football League, if it had any moral courage, would take the golden share and close them down.

Didn't the £17m go to Falcondrone who defaulted, then the PFC shares held by Falcondrone taken by Chanrai when he seized Falcondrone. Portpin were the original lenders. Anybody remember?

This is why I think unless he can find a sentimental idiot TB will soon find that he has nowhere to go.

They either get a buyer in quickly, alternatively they get the high paid off the payroll and bring in cheap replacements, or TB won't need to do anything but liquidate them before he is toast. If he can't make them solvent, he has to shut them down it's not a choice.

TB either gets a buyer PDQ, ruthlessly cuts expenditure to make income exceed expenditure PDQ or he works out in ten minutes on the back of a small envelope that there is nothing he can do but liquidate PDQ.

PFC own Fratton Park. It is registered to them but has a charge on it. PFC wouldn't have to pay rent but would have to pay interest/repayments I presume. BC/Portpin are just creditors and the administrator controls FP.

And me.

I think PFC own Fratton Park but there is a charge on it. Now it is in Administration that is another debt that can't be actioned until there is a final reckoning. The CVA could be a bunfight.

Surely the administrator of PFC is effectively now the independent owner of PFC and the shareholders have now lost control. If there is a sale then if there is a balance available it will go to the administrator of CSI. Initially there will have to be a CVA and a sale with the present debt cancelled, or no CVA and the probable liquidation of the club unless a buyer takes the debt on?

The football club was still trading out of administration. It was the club they were talking about and the only bit that mattered.

Leon Crouch and Mary Corbett stated at a meeting I was at, that we couldn't go into administration, as soon as the club ran out of money it was only liquidation that could be considered. And that was very close. We had run out of time, it was either ML or liquidation.

ML was ready to write out a cheque at that time. If he had walked away we were done for.

That included the mortgage, overdraft, debts paid off plus working capital.

He's flushing AA out????

He knocked back Markus Leibherr and gave preferred bidder to Mickey Fialka and the borrowed deposit from LC. Really smart there. Mike Osman told me about the rich blue chip Swiss and that the Pinnacle bid had no funds as the original backers had walked before that happened.

:lol:

Over the last 60 years there was hardly any rivalry to speak of as we were rarely in the same division. I couldn't care less whether they survive or disappear.

Look, it's simple. Taylor was sent off for aggressively manhandling an opponent. Nit picking about chest, throat, going down etc is just garbage. Taylor grabbed Sharp by the throat, he deserved to be sitting on his backside spitting his front teeth out. In this instance he was sent off, he can appeal and if the FA agree that he was unfairly sent off the red card will be rescinded. Anybody want to quote the odds for that and whether they will even bother appealing.

I think all the streams quoting Saints are audio only.

Remind me someone, didn't they win everything last year? Sorry, realise now, they were relegated.

Possibly but will HMRC prove that they can't fund administration with current income.