Pompey Takeover Saga

Chanrai has stated he will not let the club be liquidated... think he will step in at last minute and string this out - get a CVA that starts in 2017 by which time he will have the Parachute 14 mil to pay himself off as a secured creditor.... and sold the club and remaining debt for £1... possible?

Yes, that's exactly what is going to happen. BC has said that he will step in if no one else buys the club. His motivation for that is to ensure that the remaining parachute payments are paid out to whatever is left of the club. He should know that there is no chance of getting back to the Prem now without major investment so he'll go into asset stripping mode, getting as many of the big earners off the books as he can without a care for the impact on the playing side of things. Once he's got the PPs he'll sell the club to anyone who will take it off him.

it's really boring when they just sit there going slowly but steadily bankrupt.

 

 

I miss Avram with his big serious grave-digger face, funny speeches, and his wayward genitals' club-financed outings.

And Cotterill was funny too, always saying they were the better side - and charity begins at home Lampitt - the quality over quantity duo!

What became of Storrie mush....and AA signing autographs - and all the hilarious claims they used to make about the future - those funny little things that used to spill out of their naughty mouths when they opened them.

I also miss the woman on the mobility scooter, I believe she ran over one of the car park owner's finest, and just like Cardiff, she probably lost both legs.

 

 

 

They've become a boring nothing club - even the media have moved on.

 

pompey is the club that time forgot, and then everyone else did too.

 

Come on Birchy, we demand to be entertained!

Yes, that's exactly what is going to happen. BC has said that he will step in if no one else buys the club. His motivation for that is to ensure that the remaining parachute payments are paid out to whatever is left of the club. He should know that there is no chance of getting back to the Prem now without major investment so he'll go into asset stripping mode, getting as many of the big earners off the books as he can without a care for the impact on the playing side of things. Once he's got the PPs he'll sell the club to anyone who will take it off him.

 

If chinny takes the club on, then he will be unable to move any of the big earners because they will know their wages are safe. He will have no choice but to pay up EVERY week. He is buggered,that's why Trev is trying to move them out now so he can get a buyer,any buyer.

 

I believe they are well and truly heading for the cliff. Chinny isn't going to cough up £10,000,000 next year for some PP's. And it doesn't stop there.

 

Include, trying to agree a CVA when the creditors will think "this chap has got some dough,we can get more of our money back now"

 

I think chinny said what he said to flush out a buyer. He does not want liquidation,but he will probably have to accept that.

 

Will he end up with the ground ? I have no idea but the ground will not dissapear and someone will end up with it/or the land beneath it. The carpark "land" will also be worth loads and we all know who owns that. This pair could walk away with a tidy sum at the end of the day. Only time will tell.

 

God bless HMRC.

Chortle alert...put your coffee cup down on the desk....

 

@pn_neil_allen: Anyone else have memories of 2008 come flooding back while watching this Man City victory parade? A great #Pompey day never to be forgotten.

Chortle alert...put your coffee cup down on the desk....

 

@pn_neil_allen: Anyone else have memories of 2008 come flooding back while watching this Man City victory parade? A great #Pompey day never to be forgotten.

 

That ultimately will cost you your club. Thicko.

If chinny takes the club on, then he will be unable to move any of the big earners because they will know their wages are safe. He will have no choice but to pay up EVERY week. He is buggered,that's why Trev is trying to move them out now so he can get a buyer,any buyer.

 

I believe they are well and truly heading for the cliff. Chinny isn't going to cough up £10,000,000 next year for some PP's. And it doesn't stop there.

 

Include, trying to agree a CVA when the creditors will think "this chap has got some dough,we can get more of our money back now"

 

I think chinny said what he said to flush out a buyer. He does not want liquidation,but he will probably have to accept that.

 

Will he end up with the ground ? I have no idea but the ground will not dissapear and someone will end up with it/or the land beneath it. The carpark "land" will also be worth loads and we all know who owns that. This pair could walk away with a tidy sum at the end of the day. Only time will tell.

 

God bless HMRC.

 

Flush out a buyer, they couldnt even flush the fat out of the pipes.

Gotta love The Snooze. They know that they can't compete with us on football pitch any more, so they now think that the bestest will beat us in the boating stakes!

http://www.newsnow.co.uk/A/570425252?-

Gotta love The Snooze. They know that they can't compete with us on football pitch any more, so they now think that the bestest will beat us in the boating stakes!

http://www.newsnow.co.uk/A/570425252?-

Reading the comments, it would seem like yet another "Fantasy Island" feature.

http://www.channel4.com/news/premier-league-the-alternative-results-table

 

An article where a financial guru gives comment on Man City "buying" the title...

 

"But football finance expert Dr John Beech is not quite so impressed - and not just because he is a Portsmouth fan."

 

It's just a shame that this p*rtsmuff fan/finance expert couldn't have passed on his expertise to his cheating club a few years back when they were "buying success" with money they didn't even have.

http://www.channel4.com/news/premier-league-the-alternative-results-table

 

An article where a financial guru gives comment on Man City "buying" the title...

 

"But football finance expert Dr John Beech is not quite so impressed - and not just because he is a Portsmouth fan."

 

It's just a shame that this p*rtsmuff fan/finance expert couldn't have passed on his expertise to his cheating club a few years back when they were "buying success" with money they didn't even have.

 

TBF he did. He's been on about their finances for ages.

TBF he did. He's been on about their finances for ages.

 

Fair enough then. But maybe he should have shouted a bit louder ;

@pn_neil_allen: Anyone else have memories of 2008 come flooding back while watching this Man City victory parade? A great #Pompey day never to be forgotten.

 

Of course you can't compare winning the Premier League (which nobody really cares about) to winning the FA Cup (a competition which grows in stature every year). Face meet palm.

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mp-seeks-football-finance-transparency-1-3835152

 

Penny, you dont need a new bill for that, I can give the answers for free;

 

Chanrai

Chanrai

King Edwards

Chanrai / Gaydamak

 

And as for all creditors getting the same amount, that's what pompey have been doing for years.... They all get fook all.

 

Can't help but thinking your time could be better spent on other projects.

 

Silly cow just doesn't get it. Just pay the ****ing bills and don't spend what you haven't got.

Good grief! What was this thread doing languishing down about 10th in the list? Are we so convinced they are disappearing that we've already lost interest?

 

Come on -- there's still hours of fun to be had yet from their futile hope.

I wonder whether Appleton emerges as favourite based on the poll results where we played a major part in getting him to the top of the votes?

 

If so, absolutely delicious irony.

Not so good if our voting gets them a good severance payout and allows them more time

funny how Appy seems to be favourite for the West Brom job.

 

Wasn't he on about 4% before the newspaper poll was hi-jacked?

 

West Brom fans must be bemused - asking their mates and struggling to find anyone who wants him.

 

What can we vote on next?

Shall we force Greece to stay in the Euro, just for a laugh?

@pn_neil_allen: Gilbraltar - here come the #Pompey fans. http://t.co/NWfkR0VP

 

"Michael Appleton’s men face Gibraltar on Friday, July 20 as part of a 10-day Spanish training camp.

 

Taking place from July 16-26, their stay is expected to include an as-yet unconfirmed second friendly, this time on Spanish soil.

 

For Gibraltar, Pompey’s arrival is something of a coup as they maintain their push towards Uefa recognition.

 

The country remains in the international wilderness, not yet allowed to compete against their peers, instead lining up a series of friendlies against the Faroe Islands, Bury and Rochdale."

 

A 10 day Spanish training camp...? Which charities are paying for this one...?

Not so good if our voting gets them a good severance payout and allows them more time

 

I would think that Birch is shoo-ing Appy out the door to get his hands on the compo.

 

As Appy is reported to be on around £100,000 a year, the three years left on his contract will just about cover TBH's wages for ten weeks.

Gotta love The Snooze. They know that they can't compete with us on football pitch any more, so they now think that the bestest will beat us in the boating stakes!

http://www.newsnow.co.uk/A/570425252?-

 

Can't compete with us on or off the pitch!!!

 

Deluded or what?

 

Portsmouth South MP Mike Hancock said: ‘I hope it’s the start of a great relationship to have regular boat shows in our city.

 

‘Southampton has had the market for a long time.

 

‘But there’s more going for us than there is in Southampton. Like what Mr Hancock????

Surely West Brom would be best to wait a wekk or two to see if they can pick up appy on a free, just like with the players?

It really has all gone very very very quiet , hasn't it? Considering we are days/hours away from certain oblivion - does it mean resignation to the enevitable or..something afoot?

It really has all gone very very very quiet , hasn't it? Considering we are days/hours away from certain oblivion - does it mean resignation to the enevitable or..something afoot?

 

Few players leaving, no news on new owners, no press releases from the trust bigging up their chances of taking over, no info coming out of camp chainrai, no comments from the admin. I would say that in the reverse of the normal saying "No news is bad news"

http://www.portsmouth.co.uk/sport/pompey/pompey-past/ward-next-to-go-but-no-offers-for-team-mates-1-3840557

 

They just can't ged rid and no money left to pay any compremise agreements so they have to stay......

 

May be Mr Birch, you should have sold him to Ipswich when you had the chance, instead of gambling on staying up.

 

Seems like they all fall under some strange spelll down there

It seems every time this thread goes quiet something BIG is just around the corner.

Hopefully not long to wait for more excitement!.

http://www.sportingintelligence.com/2012/05/14/where-the-money-went-premier-league-prize-and-tv-payments-for-2011-12-150501/

 

Interesting to finally get an exact figure on the parachute payments for this year. And what next years will be....

Can't compete with us on or off the pitch!!!

 

Deluded or what?

 

Portsmouth South MP Mike Hancock said: ‘I hope it’s the start of a great relationship to have regular boat shows in our city.

 

‘Southampton has had the market for a long time.

 

‘But there’s more going for us than there is in Southampton. Like what Mr Hancock????

 

League 1 football if they are lucky

http://www.sportingintelligence.com/2012/05/14/where-the-money-went-premier-league-prize-and-tv-payments-for-2011-12-150501/

 

Interesting to finally get an exact figure on the parachute payments for this year. And what next years will be....

Bolton, Blackburn and Wolves will all get the same as Birmingham, Blackpool and West Ham. The new TV deal that has been put out to tender recently is for 2013-2016.

 

That said, because one of either Blackpool and West Ham will be going straight back up, the parachute payments that they would have received will be distributed evenly among next season's Championship clubs instead.

£41,349,647 for staying up! QPR did have a couple more live games which meant more cash so that figure is based on the equal share from the Premier League, Overseas TV Money, your Merit payment (ie where you finish) and 10 live games (the minimum).

 

If Saints succeed next year and stay in the league we can expect that as a minimum payment...quite incredible sums of money.

£41,349,647 for staying up! QPR did have a couple more live games which meant more cash so that figure is based on the equal share from the Premier League, Overseas TV Money, your Merit payment (ie where you finish) and 10 live games (the minimum).

 

If Saints succeed next year and stay in the league we can expect that as a minimum payment...quite incredible sums of money.

 

Sure is, but in reality meaningless as everyone else gets teh same or 20 mil more for winning the darn thing - thos eta the top also have CL moneys (20-30 mil) + usually rich benefactors pumping in 200mil+ to supplement wages/transfers... or if like Manure, multi-millions in commercial revenues and sponsorship, so despite what looks like a fair sum, 80% of which will go on wages - its no advantage really.

Parachute payments are supposed to help bridge the gap between Premier and Championship levels. So how come Portsmouth will still receive them having dropped to League 1 (if they're lucky)? Surely they have had time to sort out their finances, and having dropped another league yet still receiving pp creates an uneven playing field for the rest of the league?

It seems every time this thread goes quiet something BIG is just around the corner.

Hopefully not long to wait for more excitement!.

 

Its the calm before (the next) storm... I thought today was the skate trusts deadline to raise another 1000 pledges so that they can formalise the share proceedings... they raised well under half of those required pledges, which included skates reneging on their mortgages, so im not sure where they can go from here.

 

Perhaps the quiet is the realisation that it really is all over, those nutjobs on scummerzweb called it right all along... time to hitch the caravan and head for moneyfields.

 

Remember the posts made by somebody in the corporate area of the arena with sponsors, and Lampitt was drunkenly saying how its all over, we will fight to the very death... its funny how these signals normally get ignored until the inevitable hindsight kicks in...

 

I can only assume Cardiff are still thinking about squads as I have not heard anything.

 

‘I would like to think they might be interested in him, but as it stands there has been no feedback. I’m still regularly speaking to his agent and just seeing how it goes.

 

‘Liam is still contracted to Cardiff until the end of May.

 

Poor old Trev, nobodies talking to him! Terrible news that Liam is being paid by Cardiff for the next two weeks though, that would have been a nice present for the month of May.

 

Clubs are taking a little post season break at present, hence Trevors firesale currently resembling a tealight... So far he has shaken off promising young defender Pearce for half a million, with young skate Ward looking to go today or tomorrow. Two of the lowest wage earners in the squad, attracting the only interest so far!

 

As we have done in the past, the only players you pick up in this situation is the best young talent before somebody else nicks them. Eg, Surman and Dyer from us, Stephens from Plymouth etc. Clubs will not be bothering to take anything other than lower earning talent off their hands before the FL AGM on June 2nd.

 

After which point they will know whether they can mop up the players post liquidation, or they will offer Chinny some loan deals for a % of the wages.

 

Tal Ben Haim is not going anywhere!

 

The big earners are in it for the long haul, like chinny, my position is secured, I will get my money back

http://www.portsmouth.co.uk/sport/pompey/pompey-past/ward-next-to-go-but-no-offers-for-team-mates-1-3840557

 

They just can't ged rid and no money left to pay any compremise agreements so they have to stay......

 

May be Mr Birch, you should have sold him to Ipswich when you had the chance, instead of gambling on staying up.

 

Seems like they all fall under some strange spelll down there

 

It is noticeable that their two best young players are on the lowest salaries and are the only two to attract any interest. They are worth paying for to secure, but the rest of them quite literally can't even be given away. Every day that goes by without anything happening really does make liquidation seem the only outcome.

We've all seen enough westerns - It's quiet, too damned quiet out there.........

Edited 15 May, 2012 by sidthesquid
I hate bad spelling

So the supposed firesale has so far failed to materialise, the players seem reluctant to go as they know their wages are covered by parachute payments. Liquidation brings them free transfers & add on's in signing on fee's! The trust buyout is just pure fantasy, surely they should be getting the money in place now, for the FL meeting at the end of the month, as they will have to guarantee & show they have the finances in place to back up the guarantee's. Not still trying to get pledges in. It's hard cash the FL will need to see, not bravado, pipe dream's & pledges.

Feels as though we are sat in the eye of the storm at the moment.

Edited 15 May, 2012 by Under Weststand

Since the end of the season this has been the only thread worth looking at. I really could use a fix of news from this thread now!

Can't compete with us on or off the pitch!!!

 

Deluded or what?

 

Portsmouth South MP Mike Hancock said: ‘I hope it’s the start of a great relationship to have regular boat shows in our city.

 

‘Southampton has had the market for a long time.

 

‘But there’s more going for us than there is in Southampton. Like what Mr Hancock????

 

Not deluded at all IMO....Southampton has Mayflower Park and its derelict skate ramp and a kiosk....Portsmouth has Gunwharf and all its shops, bars and restaurants...yeah a tough choice isn't it.

Can't find anything news on that court case between Neuman's and AA. Maybe they reached an out of court settlement?

Clearly someone on the skates OS thinks there's at least some possibility they might still be trading come June 3rd -

 

Season tickets for Pompey’s 2012/13 season are scheduled to go on sale by early June.

 

Members of the Supporters Conference will be consulted by the club before the new prices are set.

 

While the future of the club remains uncertain, income from season ticket sales will be ring-fenced in a trust bank account controlled by the administrators, ensuring supporters’ monies are protected.

 

Perhaps 'ring-fenced' & 'protected' have different meanings down the eastern end of the M27 ?

 

http://tinyurl.com/c6j569t

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-web-chat-with-mick-williams-1-3843962

 

Don't judge a book by its cover and all that, but he doesn't look like he is at the cutting edge of business finance :)

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-web-chat-with-mick-williams-1-3843962

 

Don't judge a book by its cover and all that, but he doesn't look like he is at the cutting edge of business finance :)

 

I've had a few conversations with him on twitter, he is actually a good guy. I am not too sure about his business acumen but he does want to save the club and realises the sins of the past (which is rare with the skates).

Normally when it goes super quiet there is a bombshell around the corner .....

Normally when it goes super quiet there is a bombshell around the corner .....

 

Like this?

 

Ian Darke ‏ @IanDarkeESPN

Hear there MAY be slight cause for optimism over Pompey future. Put it no stronger than that. See what happens next few days

 

https://twitter.com/#!/iandarkeespn

I've had a few conversations with him on twitter, he is actually a good guy. I am not too sure about his business acumen but he does want to save the club and realises the sins of the past (which is rare with the skates).

 

Same here. He is as far from the typical skate as you can imagine.

Not deluded at all IMO....Southampton has Mayflower Park and its derelict skate ramp and a kiosk....Portsmouth has Gunwharf and all its shops, bars and restaurants...yeah a tough choice isn't it.

 

Not a Boat Show exhibitor then?

 

I've exhibited at Southampton Boat Show every year for the past twenty odd years and the skate ramp and kiosk delivers a boat show...complete with marketing, customers, people who pay an entrance fee of around £16 because they are genuinely interested in boats and come for the spectacle and the variety rather than buying socks and deodorant (scrub the latter it's in P*mpey)

 

What was on offer at the shopping mall you can see any day of the week at most South coast marinas for free...it's not even worthy of comparison but as the article was in the fact-vacuum that is the Noose you can expect the accountability to be on a par with their toilet fc's.

 

Happy to help:facepalm:

Not deluded at all IMO....Southampton has Mayflower Park and its derelict skate ramp and a kiosk....Portsmouth has Gunwharf and all its shops, bars and restaurants...yeah a tough choice isn't it.

Mayflower Park is a decent sized area to have it. Where is the spare ground where it can be accommodated at Gunwharf? There isn't any. And what of the ferries, Brittany, Isle of Wight and Gosport that have to be allowed for? Proximity of decent large hotels? Southampton has two, right opposite the venue. Gunwharf? Just the small Holiday Inn. Road access to bring the boats and the general public to the venue? Excellent for Southampton, a bit of a nightmare for Portsmouth. Proximity of the City Centre? Again, Southampton wins, with plenty of Bars, Restaurants and shops within walking distance. And any member of the family who doesn't wish to look at the boats, can visit Ikea instead. Historical precedence giving good know-how of how these events are organised? Well, that's Southampton too.

 

So yeah. It really is a tough choice.

and their hotels are all fully booked up with squirrel-munching, bicycle-riding West Brom reserve players.

 

Also Gunwharf will only be any good for the first year, by next summer the compulsory purchase of the dockyard and harbour front will have started and foundations for the Harbourdome will be going in.

The only hope would be that Cala could accomodate all the Boat Show stands inside one of his undersea casinos, maybe Mr Clive or the Saab dealership could sell exhibition space too.

It might work.

Portsmouth has made more of its coast than Southampton anyway. I think our Premier League city deserves more. Where's that FCKING ice rink?

 

 

Perhaps we should open a Cold Case File ...........

Like this?

 

Ian Darke ‏ @IanDarkeESPN

Hear there MAY be slight cause for optimism over Pompey future. Put it no stronger than that. See what happens next few days

 

https://twitter.com/#!/iandarkeespn

he is a Skate and so may ask around and get info a bit more than your normal journo

"May" be "slight" cause for optimism.

 

Well, I'd be reassured by that if were a fish fiddler.

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

"May" be "slight" cause for optimism.

 

Well, I'd be reassured by that if were a fish fiddler.

 

That statement alone will no doubt be enough for the Management at Nott Arf Krap to make bids for Tevez, order the new clock and some containers for the training ground and to bring in 4 out of contract PL players this week "so they have time to bed in with the team dynamic"

 

They will also of course halt the fire sale and will leverage that Statement into a 15 billion Eurobond issue