Jump to content

Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
in Golden Posts

 Share

Recommended Posts

OldNick

OldNick

Posted
Posted
Big Sam is certainly looking to have a massive squad. is he buying those 2 only to help keep Pompey alive or are they PL quality????

 

As for Tiny Tears Ho and his remarks, i have not been wrong during this saga, he cant say the same. What was it Tesco are going to pay £20m for the ground but Chanrai etc would get none of it Lol

Link to comment
Share on other sites
Jimmy Gabriel's Halo

Jimmy Gabriel's Halo

Posted
Posted

...and just to pee off the skates even more the train service between Portsmouth and Brighton is severely disrupted today because of engineering works so the journey time from Fratton is about 2 and a half hours just to Brighton plus the journey to Falmer. Extra buses are being laid on where the line is closed but I really wouldn't want to be doing that journey myself... :lol:

 

Which is why I have to drive to Southampton today and not have a beer or three in The Angel... :(:cry:

Link to comment
Share on other sites
Colinjb

Colinjb

Posted
Posted

Chatting to Barnsley fans on the train from Winchester.

 

"Portsmouth should be thrown out the league for what they done, cheating scum."

 

Straight from the mouth of a northerner. It's not just us, everyone now sees them for what they are.

Link to comment
Share on other sites
marc_saint

marc_saint

Posted
Posted

If they do manage to survive into next season, they may need this.........

 

http://maps.google.co.uk/maps?saddr=Fratton+Park,+Portsmouth&daddr=shrewsbury+town+football+club,+Shrewsbury&hl=en&ll=51.76104,-1.906128&spn=1.988959,4.938354&sll=52.062623,-1.829224&sspn=1.975648,4.938354&geocode=FWUXBwMdL8Tv_yEnuk2itUpK3w%3BFVFEJAMdWhPW_yEolymPLzuwjw&oq=Shrewsbury+football&mra=ls&t=h&z=8

Link to comment
Share on other sites
dubai_phil

dubai_phil

Posted
Posted
"We fall of the club at the end of the season" "The club needs an extraordinary amount of money" Birch on Solent interview

 

 

OK.....

 

So I tried google translate and that said

 

我々はシーズンの終わりにクラブの秋

 

So that hasn't helped either

 

Anyone got a clue?

Link to comment
Share on other sites
Gingeletiss

Gingeletiss

Posted
Posted

13

BrianLancing

Saturday, March 10, 2012 at 06:09 PM

HI I'm a Brighton fan and was at the match today. I wanted to say what great support you have and I truly hope you still have a football club to follow next season. Supporters like you do not deserve what is happening at your club. I was also disgusted at the club stewards today who ejected your No 1 fan because he was ringing his bell. They nearly started trouble where there wasn't any today. I hope we see you back at the Amex again soon

 

Loving it!!! :lol:

Link to comment
Share on other sites
aintforever

aintforever

Posted
Posted
If the club is liquidated the liquidator sells the assets they do not revert to Chainrai

 

If that's the case it makes way more sense for any potential owner to wait to liquidation then get a debt free club and ground. Even if it's non-league it would be a better buy than a League 1 club, ridden with debt and no ground.

Link to comment
Share on other sites
Weston Super Saint

Weston Super Saint

Posted
Posted
If that's the case it makes way more sense for any potential owner to wait to liquidation then get a debt free club and ground. Even if it's non-league it would be a better buy than a League 1 club, ridden with debt and no ground.

 

It's not the case.

 

Chainrai holds a charge over the stadium - much like the bank/mortgage company holds a charge over your house - if the club goes kaput, Chainrai gets the stadium!

 

The rest of the land is owned by Gady.

 

Any potential new owner would have absolutely nothing to buy if the club were liquidated. Well, maybe a shredder or two, but who would want those as they're very well worn now!

Link to comment
Share on other sites
Weston Saint

Weston Saint

Posted
Posted
It's not the case.

 

Chainrai holds a charge over the stadium - much like the bank/mortgage company holds a charge over your house - if the club goes kaput, Chainrai gets the stadium!

 

The rest of the land is owned by Gady.

 

Any potential new owner would have absolutely nothing to buy if the club were liquidated. Well, maybe a shredder or two, but who would want those as they're very well worn now!

No that is not what Birch said. He stated that Chainrai does not get the stadium.

 

http://audioboo.fm/boos/705674-part-one-of-pompey-administrator-trevor-birch-talking-to-solentsport-before-brighton-game?playlist_direction=reversed

 

http://audioboo.fm/boos/705676-part-two-of-pompey-administrator-trevor-birch-talking-to-solentsport-before-brighton-game?playlist_direction=reversed

 

http://audioboo.fm/boos/705679-part-three-of-pompey-administrator-trevor-birch-talking-to-solentsport-before-brighton-game?playlist_direction=reversed

Link to comment
Share on other sites
sidthesquid

sidthesquid

Posted
Posted (edited)
It's not the case.

 

Chainrai holds a charge over the stadium - much like the bank/mortgage company holds a charge over your house - if the club goes kaput, Chainrai gets the stadium!

 

The rest of the land is owned by Gady.

 

Any potential new owner would have absolutely nothing to buy if the club were liquidated. Well, maybe a shredder or two, but who would want those as they're very well worn now!

 

According to Birch, Chainrai does not get the stadium if they get liquidated - that was why he was desperate not to let it happen. He has a charge over it, but Birch said that the liquidator sells it for what he can get and the money goes to Chainrai. A very different scenario. I've always agreed with Ho on one point - I don't believe Chinny ever put £17 million into Poopey. He was owed that sum by Gaydy senior, and an Israeli court upheld it, but as he'd done a runner and had all his cash frozen, and I reckon he gave him Poopey as payment for that debt. That was why Chinny put a charge on it - because he reckoned he could then sell it on & get his cash out. But the fall from the prem & the spectacular failure of quality over quantity has scuppered his chances. He is right when he said he was always a reluctant owner - he just wanted to cash his chips in, but it hasn't worked out that way.

 

Two other unrelated thoughts - one, to be fair to Voldy, he didn't say the refs were unfair to Poopey, only that his players had to assume they'd get nothing from them & not use bad decisions as an excuse.

Also, it looks like four of their 'quality' squad are going to top-eight clubs on loan - it really reinforces how pitifully they have underperformed in the last two seasons.

Edited by sidthesquid
Link to comment
Share on other sites
aintforever

aintforever

Posted
Posted
If they go into liquidation, form a new club and then carry on in L1 there will be uproar at every other club and rightly so

 

They can't offload £130m of debt in 2 administrations culminating in a liquidation and carry on as though nothings happened

 

Never happen, you have to remember that 'every other club" IS the football league.

Link to comment
Share on other sites
rallyboy

rallyboy

Posted
Posted

anyone who still thinks that they are getting away with it should have a look at the league table tonight.

 

You may have noticed that I've been annoyed at how they've flicked the Vs and dodged justice in the last few years, but with the illegally assembled squad now being scattered to the four winds and the form dipping, I think we are getting there. :)

 

All building nicely towards Judgement Day at St Mary's...

 

Invitations are out to anyone who thought -10 in Southampton was funny, all those who laughed when we nearly went under, anyone who still pretends that pompey relegated us, and especially any of the cheery little souls who sang along at Fratton, laughing at the scummers going down, what a funny day that was, cuddling their sisters and trying to focus the crossed-eyes on the scum - yes, even the toothless heather-peddlers, you are all invited to this special event!

 

You've had your little trips to London, you drew a European match, which was nice, bad news is....that's all ancient history!

 

So please come to SMS and see what a proper fricking farewell party is like. :scared:

Looking forward to seeing you there.

 

RSVP, smart casual, no clown hats or bells.

Don't bring a bottle.

Link to comment
Share on other sites
aintforever

aintforever

Posted
Posted
Paul ‏ @P_Collin

 

if #pompey are relegated by more than 10 points, do they start with -10 next season like #saintsfc did? probably not. #notalevelplayingfield

 

 

Erm....What?

 

Don't think he realises that pompey went into admin before the cut-off date, whereas Lowe waited until a few days afterwards meaning our points carried over to the next season.

Link to comment
Share on other sites
Highfield Saint

Highfield Saint

Posted
Posted
According to Birch, Chainrai does not get the stadium if they get liquidated - that was why he was desperate not to let it happen. He has a charge over it, but Birch said that the liquidator sells it for what he can get and the money goes to Chainrai. A very different scenario.

 

So = Chanrai can afford to offer £17m for it and then do what he wishes. He would get his own money back and then be in absolute control of the asset

Link to comment
Share on other sites
sidthesquid

sidthesquid

Posted
Posted
So = Chanrai can afford to offer £17m for it and then do what he wishes. He would get his own money back and then be in absolute control of the asset

 

What would be the point? His problem is that the 'asset' is now worth about a tenth of what he valued it at when he acquired it. Pompey as a Prem club might have got him the cash back, even in the Champ, if they could have sold it, he'd have got something. But Poopey as a going concern are less than valueless and if it comes to liquidation the ground is likely to be sold to the council - the only one who might even want to buy it - for maybe £2million & that is all he gets because that is all it's worth. He took a gamble to get his money from Gaydy senior & it has failed.

Link to comment
Share on other sites
Fowllyd

Fowllyd

Posted
Posted
Which is why I think Birch is trying to negotiate a 'liquidation lite' option with the football league and the local council...

 

Why would he do this? Would the creditors gain anything from it? I suppose that if the club were able to continue as a League One outfit post liquidation, the asking price would be greater than it would be for a level eight or lower club, thus making more for the creditors. In which case you could say that the scenario you suggest is exactly what Birch should be doing - after all, his duty is to the creditors of PFC, nobody else.

 

However, the asking price for a League One club, with no players or staff and a ground in need of serious work, isn't likely to be all that high - in effect, any buyer would be paying for the stadium and having to fork out lots more to obtain players and other staff, not to mention all the work needed on the stadium itself. Given this, I'd suggest that the potential value of Fratton Park is far greater to Tesco or whoever than the potential price of the whole shooting match as a football club, whatever the level of competition it might be in. Plus, of course, Tesco would actually have the money available to buy it - how's the Supporters Trust bucket collection coming along?

 

So, if Birch is doing what he's supposed to be doing (and I've yet to see anything to suggest otherwise), I can't see your scenario happening at all.

Link to comment
Share on other sites
Doctoroncall

Doctoroncall

Posted
Posted
What would be the point? His problem is that the 'asset' is now worth about a tenth of what he valued it at when he acquired it. Pompey as a Prem club might have got him the cash back, even in the Champ, if they could have sold it, he'd have got something. But Poopey as a going concern are less than valueless and if it comes to liquidation the ground is likely to be sold to the council - the only one who might even want to buy it - for maybe £2million & that is all he gets because that is all it's worth. He took a gamble to get his money from Gaydy senior & it has failed.

 

If there is no club, there is according to the Councillors, no covenant to keep a ground on it therefore ready for development?

Link to comment
Share on other sites
Chez

Chez

Posted
Posted

so is West Ham providing the skates with a "significant fee" for a reserve keeper that won't even get in their bench their way of ensuring the skates survive till May and the 6 points stay on their tally? Clever move.

Link to comment
Share on other sites
Brizzie Saints

Brizzie Saints

Posted
Posted

 

Just listened to part 3, TB says at the end 2:00 minutes on "if some one can buy the club free from debt".

 

He talks about saving the club but surely this comment would have to suggest liquidation?

Link to comment
Share on other sites
 Share
Go to topic listing
×
×
  • Create New...

Important Information

View Terms of service (Terms of Use) and Privacy Policy (Privacy Policy) and Forum Guidelines ({Guidelines})

  I accept