Winchester Red

Rich We went into Admin with a mortgage and a single overdraft to Barclays which only became a problem because they cut it from £6m to £4.4m. We didn't owe anybody else anything PFC are taking HMRC (that's all tax payers) for nearly £20m (you could fund several schools or a small hospital for that) and local business for even more. But don't worry, Chainrai and the football creditors will get their money and those guys will probably still end up quids in It's not so much that it's Pompey that is making peoples blood boil (though I don't doubt it helps!), it's been their blatant disregard of the rules for so long, and all the fans were well aware they were being funded with blood money

You can stay in admin as long as you can pay the administrator, but you must convince the FL that you are able to fulfil your fixtures. More interestingly, you have to have your CVA by the end of this season to avoid starting next season with the penalty. June is no good

SSN again reporting what SWF had worked out ages ago Chainrai was conned into putting the money in. Tey didn't tell him about football creditors priority

I bloody hope so - Step forward Tanya

True, but he's also a c*nt if you're a human being :mad:

Storrie.... YOU B*STARD 'Once the sale is complete, I will tender my notice to the new owners as set out under the terms of my contract.' That means: I will leave only with a big payoff that Sasha promised me C*nt

Good tactic from Mr Android Yesterday MA: Yes Peter, of course we want you to stay on, we need you. You've worked hard, have a lay in tomorrow, come in at about 10am and we'll have a chat about what I need you to do. Today - PS turns up at 10am to find his office empty . PS: Hello Mr Android, what would you like me to do, am I moving into your office with you MA: I'd like you to f*ck off now I've had a chance to remove all of your files before you can shred them. Just sign this letter of resignation and my friend in the uniform here will escort you back to your car. You can have another chat with your friend in the car park on the way.....

That would be more like it.... He's been paid about £10m and his contribution has been worth about 5% of that. Mr Android, I think I know where you can recoup some quick funds.... :cool:

Administrator News Conference at 3pm Should be a laugh Bl**dy hell - It's sad when you're slower then a tractor!!! (but still quicker than a Skate)

If the FA had any balls they would repossess it they've been trading beyond their means for a very long time

Tony Gale on SSN just refered to PFC buying the FA Cup First time I've heard someone on national TV actually say what everyone else thinks

Even if they accept the 20 point penalty for no CVA they only save the HMRC and some small debt. All the rest has to be paid How is this wiping the slate clean? Different people have different motives.... Chainrai wants his cash back. Maybe that will involve buying the club back to get what's left of the parachutes and letting it go bust next year. Who knows? Storrie, well who knows (other than avoiding the books being passes to the revenue). He lives in cloud cuckoo land anyway Sasha. Is there a debt there or not Pompey are going to plummet, if they survive yep, they're getting away with it....

I think Avram might be needing that service more, not less

Rumoured to be the deal they struck with Chainrai to keep the club going to the end of the season 'we can't forward you any money' (because we think it might disapear) 'but we will use your future revenue to pay football creditors directly'. That includes players - Chainrai sure as hell wasn't going to do it for 4 months

PL paying the wages. They are football creditors. That is the deal

75% of unsecured isn't it? Chainrai is secured and I think Gaydamak is to so they can't vote CVA won't be that easy to avoid

Yea, he came across as an articulate, intelligent, well spoken individual.... I didn't know Saints fans had infiltrated the PFC Supporters Trust already :D:D

True, but they will pay football creditors directly - think I read that on here earlier

Ahhh, stand corrected He's a money lender that's fallen in love with this club's money Let the asset stripping comence.....

That really is the best way forward. Don't support the fresh out of admin PFC. Show some balls and walk away. Start a new club and give them your money. You might not be able to keep the parachute payments out of C&G's hands but you can rid yourself of **** owners for ever. Use the Barcelona 1 share/vote per person model

That's my point. Nobody that matters to us is getting away with it - businesses, fans, nobody. Call me cynical but I'm used to people like C&G walking all over people and getting away with it. Nobody seems to be able to do anything about that. Owners f*ck up football clubs, not fans, and owners somehow need to be held to account. I'm still hoping HMRC can be my hero!

...

Can someone explain to me, in the context of the PFC supporters who enjoyed the stolen FA Cup victory, how the following scenario is 'getting away with it' C&G organise a prepack, re-buy the team themselves using dodgy Storrie as a front man purely to get 2 x £16.5m of parachute money and then disapear. C&G will always walk away from any situation. If it gets bad enough you just disapear to a different country. Ask daddy. But we are football fans and taunting / bantering PFC fans is what it's all about. How is anything that's occuring going to mean they are 'getting away with it' - I still think it's going to be a 5 year horror story, unless somehow they get put out of their misery and they reform as AFCP The only thing they can potentially look forward to is C&G stitching up Storrie as they shut the door and turn out the lights in a couple of years

It's only the late timing of admin that makes me think that pre-pack is a possibility. Create enough time to organise the takeover and announce it 10 minutes after admin. I say again though, any smart accounting will be for the benefit of Chainrai, not football. If Chainrai can make £1 more of his money back, he'd accept another 10 point penalty for the football team. He's just a money lender FFS

I wouldn't assume for 1 minute that this includes the tax man