Gruffalo

een well publicised, League 1 clubs will fall under the Football League's 'Salary Cost Management Protocol' scheme for 2012 / 2013 with player wages required to be not greater than 65% of club turnover. Does anyone know if there is permissible variation or leeway to this 65% to account for the [likely] higher wage bills of the newly relegated clubs ?

Another WebChat today - this time with Mick Williams about the Trust's proposed 'takeover'.. Hope to see some familiar posters there.. http://tinyurl.com/6qeuhn2

Clearly someone on the skates OS thinks there's at least some possibility they might still be trading come June 3rd - Perhaps 'ring-fenced' & 'protected' have different meanings down the eastern end of the M27 ? http://tinyurl.com/c6j569t

Seem to recall reports of Huseklepp being on closer to £30k per week.. His return to the campsite will serve as another happy reminder of the days when they were 'comfortable to push the boat out a little..'.

Admissions like this provide heartwarming evidence of the [Money]penny finally dropping amongst the few and the collective realisation that the Trust's proposal is little more than a [fat filled] pipe dream.. With justice continuing to be served, May 2012 has all the makings of a cracking month..

So, Lawrence returns, Mullins is on his way back and, if the lashers see off Birmingham tonight, Erik the Viking will be rolling back down the M275 in his Hummer. That's going to leave Birchy having to dig deep to stump up an additional £76k per week in wages alone (reported £20k, £26k & £30k, respectively).. They really need to start shifting playings out, and double quick - shame most are tied up on contracts that no other club will be interested in matching.. Reap. Sow..

Hope the GFA has a Plan B in place.. http://footballgibraltar.wordpress.com/

Bloody MPs - have they nothing better to do than trying to think of new ways to blow £millions of public money ? http://tinyurl.com/ckjbfoy

For the princely sum of £260,000 (because it will be paid up front), according to The News..

He refused to answer any questions from Izgorio Kruh on the 'saga', or indeed the 65% wages / turnover cap they might be facing next season - perhaps his Croatian is better than I thought.

It's effectively a licence which allows a club to participate in the FL / PL. Without it, it's non-league football only.

Because nothing else Birchy has on the horizon is anywhere near as viable as the [plainly ludicrous] PST proposal ? Give me a 'T'. Give me an 'O'.... WTFILN..

Surely even the most wildly optimistic amongst the few must realise that the bell is tantalisingly close to tolling when the future of the club rests on the outcome of a few begging letters circulating around the terraced streets of Portsea Island ? And as for Birchy's interview - the notable pauses when certain [straightforward] questions were posed does indeed speak volumes, IMO.

Original debt, or CVA(1) reduced debt ? If the latter (or the former), have the original creditors been given the opportunity to vote on their acceptance of material changes to CVA(1) ? Or has Admin Andy's folding and re-booting of PFC companies basically voided any say that the original creditors should have had ?

This one ? http://www.uhy-uk.com/assets/media/download/portsmouth%20reports/Completion%20report.pdf

I emailed Gerald Vernon Jackson with that very question over a year ago. He said there wasn't.

Actually started now..

Peter Storrie coming up on TalkSport with Keys & Gray this afternoon - 12:30-13:00.

Mrs Justice Proudman has shown in the past that she is not averse to handing out bankruptcy orders, even to parties who are not 'hopelessly insolvent'.. http://bankruptcyandinsolvency.blogspot.com/2010/06/grounds-for-presentation-of-petition.html COYMJP..

Were the terms of the CVA re-written ? UHY's Completion Report indicated that Gaydamak (as the lone secured creditor) would be paid from proceeds of the sales of other assets - whatever they may have been, or not (as the case may be). And, as I understood it, the schedule of repayments to unsecured creditors stood completely separate from that of the secured creditors. When those mystical assets failed to materialise, was the club then able to shift the burden of reimbursing Gaydamak from the monies earmarked for local businesses, schools, etc ? and.. I suspect that pivotal to what happens next is how their current debts are allocated, and whether HMRC has enough of the vote this time around to effectively block a CVA, assuming another trip into administration is granted by the courts.

There's an old club statement (from the last time) which has been doing the rounds this morning.. Seems like it's not just HMRC who are on a wind-up..

Robbing Peter to pay Paul would simply prolong the inevitable. Tick tock..

Quite so, although the point being that the council couldn't necessarily rely on rigid and enforceable covenants to decline planning applications ad infinitum, even if there remained a 'PFC' (in one guise or another)..

I emailed Gerald Vernon Jackson with that very question over a year ago.. His response then was that there were no restrictive covenants in place (not in the legally enforceable sense, anyway) and, absent redevelopment of the current 'stadium' by the club, the council policy would be in support of the re-housing of PFC before permission was granted for any other development on the land currently occupied by Fratton Park.