sidthesquid

And this great thread runs for at least another three fun-filled months.......

Ooh-err Betty... http://www.portsmouth.co.uk/frattonlatest/Administrator-believes-HMRC-will-lodge.6416705.jp

2nd round of the League Cup???

Probably not as he must be well past sixty. He has probably retired.

I saw the headline on Newsnow & never read it. I imagined it had sneaked in by mistake and his dream move was to St Albans!!

Would I be right in assuming that Palace don't owe the taxman £30 odd million, though?

Have you been reading Handy Andy's 'Players for Sale' brochure as compiled by master negotiator Peter Storrie again?

I can see those fans in San Diego, fresh from the excitement of the World Cup, feeling a little short changed by this squad full of stars from South Africa Stewart, Ward, Mullins, Hughes, Wilson, Pack, Cowan-Hall, Brown, Nugent, Ritchie, Smith. Not an exciting prospect when the biggest name on the team-sheet is Hayden Mullins....

From The Skate News Makka, 12/07/2010 11:17:43 Lintonblue : HMRC will appeal at the last minute as thsy did with Leeds,mainly because Chanrai is getting the club back. If a new owner appears than HMRC wont challenge,but as AA is putting up barriers so Chanrai can keep the club this wont happen. Then we exit admin without a CVA and a large points deduction. The CVA is then worthless and Chanrai can pay creditors as little as 1p in the £,and do what he wants with any income,so he wont put in a penny but take money out ,then the club will be finished once the parachute payments have gone,only this years are earmarked for football creditors. Interesting point. Is that actually the case if the CVA is refused?

Do keep up at the back there.... Handy Andy declared that to give the creditors their magnificent fourpence in the pound this year he needed to raise £15million in player sales this summer. So far he has reached the heady heights of £415000.

In other news... http://www.portsmouth.co.uk/frattonlatest/Cotterill-keen-to-convince-The.6407838.jp?CommentPage=2&CommentPageLength=10 Handy Andy's mate Steve wants to keep Nugent, James & Mokoena for next season. That wont be much change from £100k/week, or £5 mill a year. Doesn't leave much for the rest of the squad to earn, does it? Or is this and other tales just to keep those season tickets selling to the deluded few?

My 16 year old lad came back fom Chichester this afternoon convinced he had seen Ali Al Faraj selling the Big Issue outside Boots. Maybe he hasn't had his first 4p in the pound from Handy Andy yet.....

That's £165,000 towards the £15 million they need to raise in player sales. Only another £14,835,000 to go, then..... http://www.portsmouth.co.uk/frattonlatest/Hamburg-close-in-on-Sowah.6402102.jp

Pretty certain I read somewhere that only one player had the relegation clause in his contract & it wasn't Nugent. (Maybe Webber or Smith)

Has Cotterill worked out yet that good though he may be he will cost him a quarter of his already optimistic wage-bill. (Allegedly $40/week I believe). Never mind, reality is out there with honesty and integrity as imponderable theoretical concepts on Portsea Island. http://www.portsmouth.co.uk/frattonlatest/Cotterill-Nugent-wants-to-stay.6398719.jp

Ouch! Just renewed my car-parking. No choice really, we live away beyond the dark side and are always pushed for time, but a doubling of the price and being bumped along to Y from B (opposite the ground) doesn't leave me feeling very happy. And looking at the prices for Bournemouth in the League Cup those cheap Cup nights of last season are a thing of the past

Oh, but we are, my fishy one. Imagine we are two families. Family A lives reasonably modestly but successfully and decides to move into a bigger house. The finances are stretched but manageable until a financial crisis occurs and forty percent of their income is wiped away at a stroke. They struggle to adjust, maybe make a slightly rash investment to try to regain their lost income. They struggle on, cutting costs but paying their taxes and other debts, until the bank calls in the overdraft and the mortgage holder repossesses the home . Compare this with family B. They are serial bad payers with a history of financial recklessness. Rather than invest in a new home they carry on in their old caravan, living the high-life, maxing out on every credit card they can get, running up debt and not paying their taxes, claiming to be solvent to get more credit until, it goes t1ts-up. They sell the Mercedes but still expect to replace it with a BMW. They don't see why they can't still have three holidays a year and they claim they are being persecuted and it's not their fault. They go to court, they say we're skint and there is nothing you can do about it, then laugh all their way back to the caravan park having had all their debts wiped off ready to start all over again. Not exactly the same in my book.

Note, AA is not saying - could we sign an emergency loan from league two as cover. Rather it's - we expect to be given special dispensation to sign England's world cup keeper on the biggest salary in the championship. The man's an Rse.

This is where the prospect of raising £15 million in income falls down. They HAVE to get him off their wage bill. They will probably end up subsidising his wages either on a free or as a loan, otherwise his contract will cost them somewhere about £6 mill over the next two years. Therefore they would be happy to shed it for £3mill, but that starts the route to £15 mill of income with a good minus three. Oh the fun is only just starting.

Can someone give us the highlights or print it out in another form. Everytime I try to access this my computer disconnects from the internet. Knows a dodgy, infected site when it sees one, I guess. http://www.uhy-uk.com/media/download/turnaround-and-recovery/17.06%20Creditors%20meeting.pdf

But he was shady from the off, wasn't he? Twenty-something son of a notorious criminal oligarch with nothing but a series of failed businesses to show for himself turns up claiming he has personally made enough money to fund the dream for Poopey. You believed what you wanted to believe. (Ditto Al-Fahim when we could all see he was dodgy as feck). Nothing I have yet seen suggests that Liebherr is anything other than a respectable businessman whose family have biult up a large & respected global business, who could see a bargain on offer to have bit of fun with and maybe live the dream. But he is not pouring in mega-millions, but steadily building up the team & infrastructure to take us back to the Prem. Where we go in the future, who knows, but as of today he seems a man of integrity, and I don't think anyone outside Portsea Island ever thought that of the Gaydy's.

Once a CHEAT always a CHEAT as far as I am concerned

Calling all experts. I thought there had to be a vote by 'non-associated' creditors - has this happened? It wasn't that surprising the CVA passed. Football debt is classed as unsecured even though it gets paid in full. Add that to the Gaydy/other shady ex-owners debt and you are over halfway there. Most of the rest of the creditors would just take it on the chin. Talking to our accountant at work about someone who has gone t1ts up on us I was surprised how relaxed he was about it & I guess that was the case with Terry the builer & the rest. His £50 grand debt sounds a lot but, as I understand it with a bit of creative accounting, he can claim all the VAT back - £8750, he can set the loss against taxable income - £15000, and he gets up to £12500 back from Poopey, meaning his total loss is under £15k. Mentally it is written off by now, plus there is the promise of more work to come versus the nasty little threat of being named & shamed by Handy Andy. I know administration has always been a murky world, but in my naivety I imagined an administrator as a neutral overseer of the process, and the power to reject potentially spurious claims as necessary, but it is extraordinary that he can cut a demand by HMRC just because he feels like it

What about the vote by 'non-associated' creditors?

Feck'em, I say. Cheats never prosper & karma gets you in the end (I hope.....)