Weston Saint

But it will be based present value in the open market without planning blessing.

Say you have a mortgage charge of £100,000 but the property market collapses or something happens in your area to reduce the property value. You go bust. The Mortgage company take your house back, sell it for £80,000. You still owe them £20,000 so they become an unsecure creditor for the rest. Their security is only on your house, not its contents or other assets you might have.

But no supermarket will get planning. The Council say it has to be used for leisure purposes so any value will reflect that. Tesco's will not purchase it to run it as a football stadium!

As I understand it, Chanrai has a charge on certain aspects of the club for £17m. The Administrator can look at the "market value" of that aspect of the charge. Say it is only valued at £10m on the open market, that is the extent of Chanrai's charge as a secure creditor. The other £7m is unsecure and he takes his chances with the rest. Suddenly the club looks a little more saleable!! Conspiracy theory - AA was looking after Chanria's interest only rather that all the creditors!! If the value of his charge proves to be less that £17m it may have legs. Thoughts from our resident experts.

He is a decent intelligent guy who lives and works in Birmingham. I have been out for a few beers with him when we used to have a charity get togethers with Saints/Pompey fans. There are just as many good Pompey Supporters out there as there are Saints or any other club come to that. For most it is just good rivalry not to be taken too serious.

The day Thou gavest, Lord, is ended Eternal Father, Strong to Save O God, Our Help in Ages Past

You are on life support at present Ho. Birch might yet turn it off. Don't get too smug!

So if you were interested in buying a football club with a FL Golden Share what are the positives/negatives of considering PFC. Positives One city team with a decent fan base of 14,000 a game and the potential of more if marketed properly. Some further parachute payments due Negatives Run down ground with a capacity which will limit growth No own Training facilities No Academy to speak of Previous CVA debts Chanrai and Gaydamac Players on wages not in keeping with division let alone income v expenditure balance

Sharp was not up with the pace and looks overweight just like Lambert was when he first came to us. The club will sort him out. He is an important cog but well done to Adkins for the half time change. Lallana was man of the match by a mile. Good goal too. Lee Tadanari's pace and play gave Derby all sorts of problems and to my mind changed the game. We had more pace and options. Also, what a goal! We were untidy at times particularly leading up to half time and at the start of the second but once Martin scored we settled into a nice attractive form of football.

Trevor Birch is, in my opinion, the best thing that has happened to Portsmouth Football Club for years. They are now entering the end game. They will come out of this stronger and fitter with just the stability they need BUT only if Birch can find them a buyer. Birch understands football. He will cut them to the bone with the minimum damage to their playing prospects. He has the contacts and the respect. For Portsmouth Football fans, this is their Christmas.

Just got a toast reference in

You are looking in the wrong place http://www.justice.gov.uk/guidance/courts-and-tribunals/courts/hearing-lists/list-cause-rolls.htm

Come on Dame Sonia do the right thing.

Trousers, there is a formal legal process when filing a notice of intent. It has to be served on interested parties. PFC have not undertaken that process so under FA rules they do not yet get the points deduction. They have gone for a straight application for Administration. If it is accepted by the Court they will get their -10. If it is not the WUP will be heard on 20th and if successful, which it will be if Admin previously refused, they will lose all their points and their golden share. Rangers filed a notice of intent on their interested parties. That is the fundemental difference. Be patient. It will come. No get on with some work!!!!!

Someone will no doubt correct me but I am assuming to give notice that you might seek Administration gives the same protection as being in Administration, hense the short period from notice to Admin. PFC's hand were already tied by the WUP. They were trying to get the bank account freeze lifted so they could pay their outstanding supplier bills so they did not have the notice protection. Therefore they so not attract -10 until Friday at least. Any advance on that thought?

Yep, season ticket holder and friend. Sits next to me at SMS.

The Air Captain who glided a plane full of passengers with no engines for 14 minutes before bringing them safely down. He is also Sky's air expert as well as appearing on other media

http://www.portsmouth.co.uk/sport/pompey/pompey-past/appy_to_seek_league_s_assistance_1_3521505

Another reason to give him a pat on the back then. We are stronger for it. It was all rumour he used his influence with Barclays. The Lowe camp have no knowledge of such things.

They are only going into Administration to protect themselves from a winding up order. They are insolvent if you include the debt. However, to consider Administration the debt is ring fenced. They only need to show they have the funds from Friday's potential Admin moving forward. So it is income (including anyone funding them) less expenditure. It is unlikely their income exceeds expenditure without selling players or being funded by a benefactor. They cannot sell outdide of the window so benifactor seems the only way. Enter, Chanrai? There does not appear anyone else. One factor mentioned previously is that Lampitt took the decision as they were not a going concern and he has a fiduciary duty. Just like Lowe did for Saints. Our benefactors were Drew Surman and Leon Crouch. Without Crouch in particular I am told we would not have survived Administration. That information came direct to me from the Lowe camp.

Situation seems to be that they are applying for a pre admin validation order to release some of the funds! On Friday their application to enter Administration will be heard. There is the risk it will be opposed but Portsmouth FC think they can convince the court it would in the Creditors best interest as the alternative is they would get nothing. I suppose it will all come down to whether they can convince the court that they will have the funds during the Administration period for the club to be "a going concern" after ring fencing the debt. The club will suffer a 10 point deduction as that is the FL rules. Any additional deduction will only be considered if and when they exit Aministration and dependent on a satisfactory CVA. The club will survive in the short term.

Yes, I go along with your Schneiderlin comment but he does it every time not just when the situation is tight!

Good performance. Back to our early season form and style. Disappointed with Burnley. A lot of high balls which our centre backs dealt with at ease. Full backs did well. How anyone can say Harding is any where near Fox's ability puzzles me. Sharps movement and pace was just what we have been looking for. Lallana was back to his lively best and Connolly looked good when he came on Lambert was man of the match for me. Absolute class. Davis had a good game. Caught everything and the throw out to Sharp almost on the halfway line wide right should encourage him to do it more. Guly had a good game tracking back and helping win the ball back in our half. Cork had a particularly good last 20 minutes Only negative for me was Schniederlin. Completed pass rate was very high but all short sideways and back. His negative play means out forward thrusts are often negated giving the opposing defence time to compose themselves. I would bring Hammond back and have him on the bench.

Yes toasters on hold. Chanrai knows there is no buyer on the horizon. He will see his money disappear on the 20th so to protect his position he has to gamble. Put the Poo into liquidation to give him time to find a buyer to try to recover some of his money. He will have to fund AA and his team. Glimmer of hope!! Chanrai does not appear to me a good businessman. After all he was conned by the alleged gun runner, sued him, won, used the money as an investment in the Poo, lost it potentially when they went into Administration, thought he had got it back when he sold on to CSI only to potentially lose it again when they went pop. Still it was not his money in the first place. It was the "gun runners" The Toaster may be back in the box at present but it is still plugged into the mains. At some stage Chanrai must walk away. As for the poor tax payer and the local businessmen.....shafted again by all that is bad about football.

Why would you bring forward parachute payments to a club who are no where near finding a new owner, have a WOP galloping up the rails and no present prospect of avoiding an Order. Surely it would be like throwing bank notes into a fire!