rallyboy

good point from MlG. Experts in the field may be able to advise whether this understanding has a legal basis... A CVA is an aspect of insolvency, any change to a CVA is an event. Surely a CVA failing can be regarded as an event within insolvency. So the FL don't have to make up rules this time, it's there in black and white, the penalty will be imposed in League Two.

so FF has moved swiftly from being worried about the company that people keep, to the confession that he has regularly supped from the furry blue goblet of skate. FF? That's familiar... Fortress fatpipes? Coincidence? In the spirit of the pompey online inquisition that made the Spanish one look like a doorstep survey, we will suspect everyone! Gather a mob, order some pitchforks and burning torches, The Threadfather has some questions to answer...

as we said a million pages back, the creditors voted to be raped, and got raped. I have little sympathy with those who believed the obvious lies and allowed the criminality to continue. By voting yes, those creditors sanctioned the next stage of the deception. As for the taxman and those that opposed the CVA, they are the real victims. At CVA1 I said that if a company owed me £10,000 and offered me £400 a year for five years, less their own expenses, I would have voted to liquidate and danced on their corporate grave. So what are we talking now for that debt? The actual scale of the theft is astonishing. By my maths they have converted £10,000 into £40, less expenses, and you had to wait three years for it! And still they voted yes. Mugs. I still reckon doing a little jig would have been way more fun. And anyone who says that getting about £30 instead of your £10,000 is better than nothing - well I have lots of investment opportunities especially for you....

I just heard the interview and as you can imagine, I listened very carefully. He stated quite clearly that they had an agreement with the FL that the deduction would come off this season. Then when pushed, he changed that to 'should', and admitted that they hadn't spoken to FL for several days and their lawyers would be on the phone this morning now that they have been relegated. He was clearly just quoting the statement from last year when they told the league they were about to exit admin. He topped that little U-turn off with the rather surprising - if we have the deduction next season it will be devastating.

We'll rip up League One they said, we'll see you next season. We'll bounce straight back. Yeah, I remember how easy it was to overcome a deduction, or how easy it was to shake off Huddersfield when they pushed us all the way. Promotion from the lower divisions takes money and good management. They have neither. Anyone still think that Redknapp, Storrie, Grant, Cotterill, Lampitt, Appleton and Whittingham are legends? It's been teamwork and continuity all the way - they have all chipped in en route to this evening. Harry and Pete laid the groundwork, their suicidal transfer policy was damaging, but Avram took up the reins and plunged the club straight through the first trapdoor. Was that where Cotterill and Lampitt took over? That dynamic duo really upped the stakes, they drove the train over a second cliff before England manager-in-waiting UnAppy got hold of it and finished the job. He spent the last few pennies they didn't have and presented Whittingham with an overpaid squad that was lingering in midtable. The Corporal wasn't going to be outdone when the baton was handed over, he managed to close that gap on the bottom four and steered his plucky brave troops all the way to the bottom of the league pyramid. And everyone of these heroes has been cheered all the way by the little blue army. Well tonight Hampshire stands as one, red and blue together - we join the few and salute all of the above! They have all done their bit to get the club back where they belong. Anyone in Portsea still think the overspending on the cup runs was a shrewd investment and worth the hassle? Thought not.

Any sign of the takeover detail being published yet? That's the the trouble with transparency, you can't see it. So was this pitch invasion the fault of the Brentford supporters, or the police? I've seen both excuses, and I can't for the life of me think of anyone else to blame. And I'm not sure that I buy the £13K bar bill story - sounds like yet another Portsea myth, and what sort of drinks are they serving at Fatpipes that could cost that much? Has it turned into a cocktail bar and strip joint - or have they go all prawn sandwich on us?

just when you think it's all been explained I ran into a thick dinosaur tonight who tried to tell me that Man Utd and Real Madrid are EXACTLY the same as pompey because they have debt too. Skatosaurus followed up that gem with Saints wrote off millions as well and even if a few businesses got raped by pompey, it isn't the fans fault at all. This from a bloke who has been all over the cup win and the 4-1 like Avram at a prossie convention. I give up. Some people are simply beyond educating. It's like trying to explain the 2nd phase of offside to a tree.

The club can't have bankrupted all local building companies, there must be one or two left. They should drop everything and get down there immediately. Chop-chop. Community spirit, owned by the fans, fully-funded, taken the keys, biggest in world football, rubber-stamping exercise, transparent business plan, deal done, everyone else jealous etc.

Despite local reports and street parties for the dim, the club is still in administration. Fact - or so I thought... Pompey fans celebrated in style at Brentford as the team played for the first time since the club was bought by its supporters. The News, Saturday. It was the first game since last week’s news at the High Court that the Trust WILL be gaining control of the club. The News, Monday. Is that an intentional step back towards the reality, or an example of sloppy reporting? Ditto the Mirror. What a pointless piece that was. Especially as it tried for no reason to link Thatcherism with pompey - totally disregrading the fact that government policy on football in her time was influenced by people who randomly ran onto pitches and threatened violence. That's the only link I can see. Far from congratulating the few I think she'd have been banging them up and fencing them in. Though in the new era of transparency I see that the Trust is saying that the pitch invasion was both of a friendly celebratory nature, and was in response to provocation. Which is it? Make your mind up. An observer might suggest that it looks like a fanbase out of control, and who may in the future have access to the boardroom. But no deal has been done yet, and some media need reminding.

Little things that annoy me? - how long have you got? Gravy on your knife handle. Coasters that stick on the bottom of glass/cup until they get nearer to your face. People that don't thank you - in a car or on foot, or generally. Breakfast television, or any tv that caters for the thick. Cowell etc. People who listen to commercial radio with it's playlist of ten songs and who think that they must buy one of them. Men who have the musical taste of eight year old girls. Cold callers. People who say 'absolutely' because they have nothing else to say - that single word is not a proper response in ANY situation. Anyone who is interested in any aspect of celebrity culture. Any music outlet that gives 'recommended listening' - I don't go around the manager's house and tell him what to have for tea, I'll choose my music, not you. Cereal and milk that leave the spoon just prior to making it to your face. Men who walked to SMS yesterday clutching little old lady umbrellas, blocking pavements, and taking people's eyes out. Hot breakfast served cold. A fly buzzing around when you are trying to sleep - ditto a beeping phone that needs charging. Banks. Drivers blocking the whole road when turning right. Hotel toast served limp and untoasted - that's called warmed bread. Drivers not indicating. Barclaycard. Waiters in New York giving you pickles that you don't want, and thinking this act deserves a tip. A small stone that appears in your shoe once you have put it on. People who on hearing a really good joke, just stare blankly. The general public. Insurance companies that sell through fear. Burglars. Companies that make you wear a security tag even if you have worked there for fifty years - they just want to own your soul - so don't wear it when you go out for lunch, free yourself for an hour. Pedestrians who wander across cycle lanes without looking. Clients - could apply to any business that has to deal with people. The keyboard that fails to mention that you HIT THE CAPS KEY ACCIDENTALLY HALFWAY THROUGH. The failure of pompey fans to recognise truth. Myself for spending far too much time trying to educate them through a blend of ridicule, facts and humour.

ticker tape welcome! It reminded me of Buenos Aires in 1978, check it on youtube if too young, it's very similar. Did I miss the club being bought out of administration? as the team played for the first time since the club was bought by its supporters. When did that happen?

that was one of my serious posts! Interesting quote tonight re completing the deal - Mick Williams, trust board member, said: ‘We will be pushing to get it done ahead of the final game of the season against Sheffield. ‘We need that gate money to come to us, rather than go to Portpin.’ I'm not sure why the gate money would be going to Portpin, but that means that all those people rushing to buy tickets at the moment are just chucking cash at Mr Birch and Mr Chanrai, not the Trust. Whoops!

once they leave the safe haven of administration they'll have to do those things that proper businesses do, like file some accounts. And I suspect the taxman will be down there the next day if they miss a payment from now on. BUT we are getting ahead of ourselves. The other day they were given the opportunity to complete a deal. Despite being fully funded and ready to go they are now talking today about 'further negotiations'. Nor have they released the detail of the agreement that was enough to make Chinny walk away - an oversight perhaps, another computer glitch? That detail could be interesting, especially if it still gives him guarantees that the FL are not happy about. As pointed out above, this brave new era of transparency is working out really well. But on a lighter note, I expect them to get officially relegated tomorrow.

just a minor point before we sweep the last few years of criminality under the biggest debt-free, fan-owned carpet in world football - the actual result in figures, how much did the taxpayer and local businesses lose? Firstly congratulations to Andronikou, he did more for them than anyone in this heist, converting £80M of unsecured debt into £16M, which was then seasonally-adjusted to zero. £80M owed, not a single penny paid. Wow, step forward AA, hero status. If we then add in the £16M of their owed £24M, surrendered by the players, and see how the next batch of debt was downgraded, minus the costs to Chinny and the pitiful CVA2, I reckon they've got away with writing off up to £135M.* That's IF they pay the football debt and the other add-ons. Anyone else want to have a bash at the maths and see the actual value of the crime that the media won't bother to print? *I realise of course than Saints and pompey's admins were identical and that we are jealous.

I just feel relieved and pleased for the local businesses and economy. The club was bringing £300M a year into the city when they were struggling, so now that the crowds are all back that figure must be closer to £500M - that's £20M for EVERY home game. Fantastic news. And if anyone feels the same as Essruu you can send me the cash and I'll burn it for you. In fact Lord T can give me his money too and I'll go buy a share. Honest I will.

phew, I thought that was Avram in the director's box there for a mo. Was that the launch of the free tickets for seaman initiative? Quantity over quality. The new regime does look like a professional set-up, nice bedsheet with the club crest on, at least they've saved a few quid. And the details of the deal make good reading. Or they will do, if the Property Developing Trust ever embraces transparency, rather than just promising it. Is the honeymoon over yet? If so, the only ones that got a good seeing too were the creditors.

Let's just lift the lid a little on this glorious victory for the people. I didn't like to be too scathing on their big day, it would have seemed rude. So they have paid off Chanrai, he pushed their offer and readily accepted their cash, but they also have to pay his legal fees. Ouch! In reality the Trust now has a 50% stake in an opportunity to secure Fortress Fatpipes, a deal that has to be completed immediately. Individual fans have paid a £1000 donation, which gives them no power. The property developer will have access to a massive chunk of land, and has a deal from Tesco on the table. Nice. Now we hear that the Trust's journey back to the Premier League will be plotted by a man who steered Bury to the edge of liquidation. To me his appointment hints of an attempt at sensible prudent stabilising in the lower leagues, rather than a dramatic return. At least he won't lie about the lowest wages in the division, according to Bury he signed players on £100-£200 a week. I can cope with that prudent approach, but can the few? In the meantime can we just point out a few home truths to the gobby ones who have leapt back upon the rickety bandwagon. 1. The wagon has no wheels, just an agreement to buy some wheels, approx three. 2. Penny is prettier when she has a bun in her mouth, it prevents all that 'look at me' back-slapping, vote-harvesting drivel spilling out. 3. Some of the Trust have worked very hard and deserve praise - should they complete, and make the figures work. 4. Most fans have no understanding of what has occurred and are celebrating something that hasn't happened. 5. No one said they couldn't afford £3M between them all, but most of us think they can't afford to run the club. 6. If they complete, the club will not be fan-owned. 7. We have to accept that most media will be too dim to understand and too lazy to research, they will sweep the £150M debt under the carpet and run with the fairytale of the 250K fans who never gave up. 8. The claim of being debt-free is bonkers. 9. 'Add-ons' - what a great little phrase, right up there with 'less expenses'. 10. Couldn't think of ten, but did enjoy seeing that footage of Storrie again - 'Are you aving a larf mush?' - deserves to be in any top ten. So forget that plucky child with the single tear on his little rosy cheek, brace yourselves, the facts are about to be washed away in a media river of sick and spin. The biggest and bestest myth shop in world football is open for business - history rewritten, as it happens, while you wait!

So by my reckoning, if we ignore that little phrase 'add-ons', it seems that they have pluckily battled hard and purged their club of Chanrai, the glorious few have stood firm and hounded him out.... by paying him what he wanted. That showed him! They made him an offer, he asked for more, they agreed to pay it. Plucky indeed. Sounds like he tried to shaft them with the small print as well, or Birch just doesn't know what he's doing. They just need to make sure that their increased offer doesn't breach the FL regs on the carrying forward of debt. Well done to Birch, fantastic job, I believe he's now a hero. Until they see his final invoice. Now we can ask the question again, only louder - if this is the biggest fan buyout in sporting history, why isn't it being funded by, err, fans? There's always an elephant in the room and the big fat trumpety one to concentrate on now is not the Greggs' pin-up girl for April-May, spilling into June, but the myth of community ownership. pompey are leading football into a new era.... Are they indeed? As Penny pointed out, against all odds they bravely paid Chinny off, a great and inspiring victory. Is it possible to rewrite history before it has even happened? Now all we need the fully-funded bid to do is actually put the cash on the table and complete.... Go on then, let's see the colour of your money....chop chop, cough it up! No more excuses, tis an open goal - nothing can go wrong. It's a great day for property developers.

agreed in principle? Sounds a bit fragile to me, with the potential to not be agreed, in principle. No time for any vagueness, it has to be sorted, now - in fact, within 48 minutes! Without seeing detail we have to assume that the Trust has upped it's offer to Chinny, perhaps committing more money that they don't have. Will that stop Portsea declaring a fantastic victory and partying like a former PM has just died? I fear not. Sensible folk will await the detail.

I reckon Chinny has a bit of paperwork to confuse them, but I suspect the judge will be lenient towards the Trust. Most likely? Trust given go ahead with conditions, and spiteful, defeated, and robbed loan shark shrugs and just laughs it off.... Or appeals, and delays them all the way to oblivion. Either way I will predict that the outcome whether good or bad will be sold to the fanbase as a glorious victory for the plucky underdog. Probably in short paragraphs. That don't flow. At all. And Penny will pop out of Greggs for a photo. When she sees that votes are at stake. So get the sick bucket ready, and make it a big one.

I think the Withdean is more their scene, though it might be a bit big for them. They could claim to have the biggest UK football ground formerly used for athletics... I'm not sure pompey would want to travel as far as Brighton - I'm just amazed that no one has suggested Moneyfields before, that would be ideal.

funny how they've been selling the ludicrous property-developing dream under the sales slogan of Trust or Bust and at this late stage they now admit that it's b0ll0x. Nice touch, just a few days before heading into court. Anything else been made up that we should know about? The projections? The business plan? The promises to the council? The £3M in Escrow? The agreements with football creditors? The assurances to investors?

The last over-developed minnow, now returning to be a small fish in a puddle. If Chinny has to justify an appeal I think he could produce quite a few reasons now that several groups have seemingly offered more money. The commercial value of the land is higher than if it just has a large rickety shed on it. The fact that a property developer has bought next door and is desperate to get his hands on it speaks volumes, and scuppers the Trust claim that it's not much use to anyone. One of the other problems the Trust has is that they can't see beyond a football club. They just value the land as a ground, and are understandably obsessed with a Golden Share, something you don't need if your plan is to build a mix of retail and residential. A judge will look at the big picture but just focus on the value and the question, he won't be interested in all the spin. Unless of course he's from the same Lodge that surely must have gently helped them and Harry walk away from previous court cases! I can't believe how courts have let them off in the past, so nothing will suprise me this week.

yep happy David Norris day, perhaps one day he might even get paid for his day. Was that the goal that stopped the scummahs going up? Give it a year or two and that myth will become reality. It was the goal that didn't change our league position nor halt their relegation, just gave the few the opportunity to have a show of strength on Southsea Common, all 15 of them. Norris, caught between hero status and the role of dirty judas villain who wouldn't leave - or is he just another man who will never get paid? Ditto Sol Campbell and Kanu - thanks for the cup.... What's that, you want your wages? Go f@ck yourselves!

when a man is tired of this thread, he is tired of life... Trousers has just become caught up in the minor distraction of being 50 odd places above them, beating the Champions of Europe, winning away at our NEW local rivals, thus securing survival and the accompanying massive financial boost. This has left him disinterested in a mindnumbing 0-0 draw at home to Stevenage - a town which I wasn't aware had a football team, let alone one who would be playing 'their cup final' in Hampshire. A season where we survive but there's the potential for Redknapp to go down, take Cotterill with him while coaching genius Appleton relegates both Blackburn and pompey, could be considered a minor distraction from a takeover that still hasn't completed satisfactorily. So the T man is excused for the moment.