Torres

I'm assuming that the Trust jump into bed with Chinny and he lets them buy the club in return for a committment to pay him a lovely lot of rent for FP, and that the FCs are paid over time from PPs.

The equations haven't changed at all. What works out best for Chinny? Option 1 - He buys them. He gets: Parachute Payments (£14m) - Football Creditors (£5m?) - Purchase Price (£500k) - Running Costs for 2 years (???) plus he has to reduce his charge on all PFC assets(!) to a level decided by the FL which will probably be far closer to what those assets(!) are actually worth than the £17m he reckons. Option 2 - He buys them and sells "the club" minus Fratton Park to the trust He gets: Enough "rent" over the next few years to satisfy his lust for money. In return, the club/trust get all the PPs, from which they must pay the FCs and run the club, plus pay Chinny what he's already owed and the £500k+interest for his purchase. Option 3 - The trust buy them If, as GM has claimed, the trust have £700k then they can match Chinnys £500k offer and pay the creditors the same root of f-all. The trust are then the new "owners" but Chinny still has his charge on all assets - if he's not the new owner, can the FL insist on a reduction of his security? - and he hits them up for payment of that. Maybe he plays nice and lets them pay him back at £2m p/a. The trust now get the PPs but have to run the club and pay off the FCs as well as paying Chinny. That £14m isn't going to last long. Option 4 - Liquidate Chinny gets: Everything that doesn't breathe once sold, after Trevor gets his payment. He doesn't get any PPs but then he doesn't have to pay any FCs and doesn't have to run a football club. Trevor has done everything he can to save the club, Chinny has done everything he can to save the club, the Trust have done everything they can, so have the council, and the MPs, and the plucky heroes who have already given up millions(!) but a couple of pantomime villains ("King" Kanu and TBH) have stuck the knife in and nobody can save them. It's too late to reform this year and Fratton will fall into disrepair (stop giggling at the back) over the next year so there's no way the phoenix club can play there in 13/14. Rather than leave it derelict, the council agree it can be developed into retail and/or housing. Should the economy pick up over the next couple of years (as predicted by the Treasury) how much will all that land be worth in 2014? Whatever it is, that's what Chinny gets, and that seems to get him a greater return than option 1, 2 or 3. But can he wait another 2 years before getting a penny back?

So they've managed to get some of the high earners "off the books" and the club is now saved, I read. Hmmmm. Other than Leeds having paid off Pompey's outstanding debts to Derby, all that really seems to have happened is that they've managed to slow the rate at which the debts to football creditors is growing. Sure, they've don't have to pay Norris/Huseklepp/Varney next week's wages but how much of the deffered wages from the past 6 months have those guys given up? Any? Or have they simply agreed to Pompey repaying them over the next 2 years? Doesn't seem that a huge amount has changed. Anything owed to these guys will be classed as football debts and the FL will insist it's paid under the FCR. However much the tribunal decide "King" Kanu is owed will be a football debt and the FL will insist it's paid under the FCR. However much they still have to pay Liam "Ticket Office Manager" Lawrence and Nutjob Hero Tal Ben Haim will be classed as football debt and the FL will insist it's paid under the FCR. The FL will demand clarification of all these deals and will know exactly what has been agreed with whom and how much they are owed. A large chunk of the parachute payments will still be directed straight to the football creditors before it even touches the PFC books (like they keep any, lol) and before Chinny has the chance to trouser it for himself. So the question still stands from a few ago, despite all this "good news" from Trevor - do the sums still add up for Chinny's bid? I suspect the answer is yes, but only just, and is that enough?

I'd be really interested to know on what grounds Birch is fighting the Kanu claim given that we now know he served his 14 day notice - as Birch told us a few weeks ago he was entitled to do due to reach on contract by PFC.

Might be in for that! It'll pretty lol-worthy.

That's because the author's name is Balram Chanrai.

If you really pushed me for an answer on this, I'd probably just about say No.

Interesting that Kitson's said the TB has not actually offered him any compromise, especially after Halford told us last week that nothing was being done to sell him to another club. It's almost as if Birch knows the game is up no matter what happens but wants the players to take the blame and save his professional reputation...

I wonder why on earth anyone from the Football League would answer that question over the phone.

More essential equipment

I just scratched an itch on my left ear lobe and the guy sat opposite me has got angry at my goading of him.

Aren't the trust bid and the bust bid the same thing?

Laugh, loudly. And yet you still were relegated and would have been even without the points deduction. If it wasn't because the players weren't good enough, could it possibly have been the fault of the manager?

I will be absolutely gobsmacked if the player agents haven't been in contact with the PFA, Football League and Premier League throughout all of this and I will bet most things that I own that they know exactly where they would stand in the event of liquidation. The fact that so few of them have left is very, very telling.

@greghalford Greg, how do you spell your own name?

http://www.portsmouth.co.uk/sport/pompey/pompey-past/royals-boss-confirms-keeper-loan-move-to-pompey-1-4076482 Actual quote from McDermott: Sounds like a done deal to me

Dunno either.

A new, new, new low. **** the bed.

Mcleod on his way to Fratton to sign that contract:

OK, simple question to ponder: Why would Chinny complete his purchase if he has to relinquish a large part of his secured debt?

Assuming that Chiniy doesn't change his mind, of course.

It's also dead easy for every to walk to from town. Stoneham is ideal, yeah.

Expect rabid, foam-the-mouth hatred from the blue few...

Shows how little faith Plymouth have in ever getting any money from the cheats. I suspect most clubs will be doing this next season, should they make it that far.

*lumpsonpompeypromotion*