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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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JackFrost

JackFrost

Posted
Posted
The creditors gave him a big thumbs up (and a few extra fingers), he can do what he wants, idiots.

 

I did say 500 pages back but it's worth repeating -

as a businessman, if a random company ripped me off and owed me a few grand, then were forced into court and offered me a feeble 3p in the pound while living it up,

I would consider the loss of a a couple of hundred quid as a bargain price for the pleasure of dancing on their filthy corporate graves and watching the crooked directors lose their jobs, cars, expenses and reputations.

 

Sensible businessmen can see right through a dodgy CVA and would not accept such a deal that is so obviously unworkable.

 

On a completely different case - any creditor who voted for the Pompey CVA deserves the shafting they are getting, so they had better not whinge when it goes awry.

It was never viable.

 

if they don't get what they are owed in the CVA, can they not apply for a winding up order?

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COMEONYOUREDS

COMEONYOUREDS

Posted
Posted
Ok Nick if you say so. Storrie could well be proven to be a criminal in the not very near future, NC is a completely different kettle of fish (Excuse the choice of words here). I know my clubs short comings and if many Pompey fans didn't most recognise them now. Southampton are a well run club, certainly by comparison, but I would not be smug in the slightest about SFC's long term prospects with NC at the helm, ironically as a Pompey fan I'm party to the odd bit of ITK and heard the concerns regarding NC from the first day he showed up at SFC. I thought it was bais, but now I can clearly see the things I was told unfolding as predicted. Funny 'cos there's a bit of money (Never as much as some of the muppets on here seemed to think) at SFC but it amuses me no end that NC is pulling the strings, the fact that most of you lot can't see it makes me chuckle. It also amuses me to see the posters who maybe party to the same info I am regularly getting slaughtered on the Main board! If only you guys knew how right they are!......So is this the ramblings of a Bitter Skate? Yeah very probably. :)

 

 

So are you suggesting the chairman is pulling the strings? Correct me if I am wrong but isn't that how it's supposed to work?

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JackFrost

JackFrost

Posted
Posted
Pompey will continue to live beyond their means in admin. Will almost certainly go to court again and flick the V's at everyone and get away with it again. Portsmouth's businessmen must be total muppets. Then again if you breed with your own gene pool.....

 

For a judge to proceed with a winding order it'll need Pompey to go down 2/3 divisions yet and/or a load of negative PR directed at them. Until that happens the high court judges will continue to bottle it

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holepuncture

holepuncture

Posted
Posted

so the 21yr old cant get FSA-unregulated brigding loans to front his takeover.

 

Poor lad. he has £200k, which is enough security to pay the two new boys wages for a whole month! Bet Ali Al Faraj never had to do that?!

 

I hope he secures the major funding at major lending rates he needs to assume control of a load of liabilities and an unsustainable business model.

 

How did that Aldershot take over go with the college graduate 10-20 years back?

 

Glad to hear they have whacked another couple of mil on the wage bill too.

 

Hows that stadium on the sea coming along, the £500m one?

 

When is storrie releasing his book?

 

Dr 'Ice Cream' Sulamin Al Fahim has gone quiet too, what happened to his £100m/bn land flipping deal?

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Wes Tender

Wes Tender

Posted
Posted

Originally Posted by PES:

Ok Nick if you say so. Storrie could well be proven to be a criminal in the not very near future, NC is a completely different kettle of fish (Excuse the choice of words here). I know my clubs short comings and if many Pompey fans didn't most recognise them now. Southampton are a well run club, certainly by comparison, but I would not be smug in the slightest about SFC's long term prospects with NC at the helm, ironically as a Pompey fan I'm party to the odd bit of ITK and heard the concerns regarding NC from the first day he showed up at SFC. I thought it was bais, but now I can clearly see the things I was told unfolding as predicted. Funny 'cos there's a bit of money (Never as much as some of the muppets on here seemed to think) at SFC but it amuses me no end that NC is pulling the strings, the fact that most of you lot can't see it makes me chuckle. It also amuses me to see the posters who maybe party to the same info I am regularly getting slaughtered on the Main board! If only you guys knew how right they are!......So is this the ramblings of a Bitter Skate? Yeah very probably.

 

You're just ****ing in the wind. You know nothing at all about NC and neither do the wind-up merchants who claim to be in the know about him. Put up or shut up. Because your club is a cesspit and has been associated with the dodgiest characters in British football and has become an embarassment, you're jealous that we have decent honest people running us properly snf efficiently without debt.

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Jimmy_D

Jimmy_D

Posted
Posted

 

I'm actually amazed now.

 

I mean, I know it's Pompey, but for over a year now, I actually can't remember a single week without a bad story about them.

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rallyboy

rallyboy

Posted
Posted

you shouldn't knock them, it's a huge improvement on their start last season.....and they have got two goals now in six games.

And that Palace side are going to be promotion contenders!

 

As Dean Wilkins would say, perhaps they lost the game in both boxes, but mainly their own.

 

Pompey can't be far off a good side, if Chanrai wants to wave goodbye to another £10M in the transfer market, and if they ever exit admin and file accounts, and avoid tax evasion charges and resultant penalties - they could be challengers!

 

Come on Cotterill, spin that result into something positive!

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dubai_phil

dubai_phil

Posted
Posted

Was surfing for obscure 80's hits for my daugter's engagement party next week and came across Animotion. They actually had a great song (for old farts that move their necks when dancing like fat old people and still pull) that I'd never heard of called I Engineer which is fast becoming a fav...

 

However for the regular readers on here they also had this as a their main hit. Which is sort of appropriate seeing we have made it into territories uncharted by reaching The Devil's page

 

 

8)

 

And come on, who remembers dancing to this without a beer gut?

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Dark Munster

Dark Munster

Posted
Posted (edited)
If I were a creditor I'd be seething with this news. So that's actually 1m extra that could be going back into the pot. Excluding win bonuses, ni etc on those wages. Fecking disgrace.

Any creditor who voted for the CVA (i.e. everyone except HMRC, Hart and one or two others) is getting exactly what they deserve (which is probably SFA).

 

666-b.jpg

Edited by Dark Munster
Forgot Hart
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Weston Super Saint

Weston Super Saint

Posted
Posted

So, no new[sic] owner ratified by the FL.

 

No wins for the few, and only two[?] goals scored.

 

For one that was so vocal a few weeks ago, trumpeting the new dawn etc etc, Mr Ho seems to have gone very quiet. Unlike him to only come here when it looks like things are going well only to skulk away again when they don't....oh...

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Saint_John

Saint_John

Posted
Posted
I think you're being too generous about AA: he'll round it down to 0p.

 

If AA's CVA dated 28th May is to be believed we will find out later this month.

That report said they are due to pay creditors £2M in Sept 2010.

 

 

IMO it will be "sorry creditors but that money has been spent on K & L wages".

? I've also heard that rocha & kanu have just signed deals on similar wages.

I wonder what the FL will do if that payment is not made ?

 

CHEATS.

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Jimmy_D

Jimmy_D

Posted
Posted
If AA's CVA dated 28th May is to be believed we will find out later this month.

That report said they are due to pay creditors £2M in Sept 2010.

 

 

IMO it will be "sorry creditors but that money has been spent on K & L wages".

? I've also heard that rocha & kanu have just signed deals on similar wages.

I wonder what the FL will do if that payment is not made ?

 

CHEATS.

 

At the moment, Pompey are still in administration, so they're protected from a winding up order etc. and bills like that fall to the administrator to pay, if Pompey can't cover it themselves. If the Administrator is not willing to pay it they can wind the company in question up and distribute assets to the creditors.

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rallyboy

rallyboy

Posted
Posted

that's a worrying indicator of where the finances are if they were happy to pay £12K a week to offload their 'star striker'....

 

They then take the odd decision to overpay two Prem rejects.

 

We have been in a similar squad situation and the only answer is the clear the deadwood not add to it - Kanu?!

 

And they must have at least eight players operating above their fantasy wagecap, a limit that the likes of Blackpool must be trying to run with Prem money coming in.

Can we see the figures of how many Prem clubs are operating with a wagebill lower than Pompey's?

I do hope Storrie is off the bonus structure by now, though on current form it won't be a great saving.

 

The house of cards must be rocking again soon, and not in a good way.

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FloridaMarlin

FloridaMarlin

Posted
Posted
Looks like Nugent will is possibly off to Blackpool on loan (Didn't think premier league clubs could take loans?) with pompey still paying HALF of his £24K PER WEEK wages

 

http://www.tribalfootball.com/blackpool-boss-holloway-will-try-again-portsmouth-striker-nugent-1117201?

 

Presumably on the basis that it's more economic to pay £12,000 a week to get another £12,000 a week off the wage bill.

 

Is that at last some sort of tacit admission by AA that the current wage bill is incompatible with being able to service the CVA?

 

Or more likely, will the £12,000 saved be used to sign another player.

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seaempty

seaempty

Posted
Posted
We have been in a similar squad situation and the only answer is the clear the deadwood not add to it - Kanu?!

I imagine they couldn't wriggle out of Kanu's verbal agreement re the one year extension. Probably gave him the 3 year contract, but reduced his weekly wage.

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tony13579

tony13579

Posted
Posted
So when are the 'p*mpey-three' back in court for tax evasion, must be soon?

 

Quote of the day: Chris Moyles, Radio One Breakfast Show, approx. 8.05am today.

 

"...Harry Redknapp must be one of the most honest men in football..."

 

He was being deadly serious.

Harry , to be fair, achieves his goals as long as you keep funding his adiction to overpriced player requests

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