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Pompey Takeover Saga


Fitzhugh Fella

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They're a fickle lot aren't they? It wasn't so long ago they loved Storrie - and even complained when we took the **** out of him in the Cup game!

 

Yeah and even with their club on the edge of the edge that they have been on the edge of for a long long time now they still resort to mentioning us with their highly amusing St Fairys Stadium quip.......****s.

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Most if not all of the pitches are owned by the RN. This has got to be bull****.
actually I think the United Services ground is owned by the Crown, to which surplus revenues go directly to the HMRC. Maybe HMRC wil get their money back after all then in the form of rent. It's ******** by the way.
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Wish I had some of the interviews from BBC South Today and ITV when they won the cup...

 

"Redknapp, Storrie and Gaydamak have transformed this club"

 

"Gaydamak is a legend"

i did enjoy watching Meridian at 6 today. was great watching slaphead Fred read out that his beloved club is fooked.

you could see in his eyes he was crying on the inside :D

was strange it wasn't mentioned on BBC or did i miss it ?

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On fratton park being unused....;

 

 

 

Isn't already practically unused apart from fortnightly visits from a few crackheads?

 

Couldn't it be used as a Greyhound Stadium? (I don't think the one at Tipner is there anymore)

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Stewart Carnegie ‏ @Stewartcarnegie

 

If Pompey do go out of business then we would still have as much chance of winning a major trophy as the scummers #pompey

 

 

 

Ouch! That really hurt....:lol:

 

Such a staggering lack of understanding of the laws of probability. But then, they've never been good at maths have they.

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Couldn't it be used as a Greyhound Stadium? (I don't think the one at Tipner is there anymore)
very good idea, maybe a speedway track? Tipner track is still there, though not for long, but long since closed.
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i did enjoy watching Meridian at 6 today. was great watching slaphead Fred read out that his beloved club is fooked.

you could see in his eyes he was crying on the inside :D

was strange it wasn't mentioned on BBC or did i miss it ?

 

You missed it, it was lead story in news section.

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http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

Chainrai claims the club owe him £29 million.

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

"We’re trying to protect the club and them.”

 

 

:lol::lol::lol::lol:

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http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

Chainrai claims the club owe him £29 million.

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

"We’re trying to protect the club and them.”

 

 

:lol::lol::lol::lol:

 

 

Why would they want it with b*gger all parachute payments left?

 

Unless they hate skates and want to torment them forever.

 

I think I'm starting to like BC

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http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

Chainrai claims the club owe him £29 million.

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

"We’re trying to protect the club and them.”

 

 

:lol::lol::lol::lol:

 

Where did £29m come from? AA up to his creative best again (allegedly)?

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Can Birch legally liquidate PFC2010 without having to 'ask permission' of its creditors and/or parent company?

 

In other words, does AA, on behalf of CSI's creditors, have the authority to stop Birch doing what Birch thinks is best for PFC2010's creditors?

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So, if they go bust, do not finish the season, reform, get back into the FL in say 6 years time, does the minus 10 points that did not contribute to their relegation await them on their return?

 

No because they went into Admin before the 4th Thursday in March, which is the cut-off for points deductions definitely counting in the same season.

 

Also, if they go bust and reform they have no link to the former club.

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http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

Chainrai claims the club owe him £29 million.

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

"We’re trying to protect the club and them.”

 

 

:lol::lol::lol::lol:

 

Er, here's the attendance table from this season, find out the price of admission, count how many times they've been on Sky and work it out for yourselves : http://soccernet.espn.go.com/stats/attendance/_/league/eng.2/english-league-championship?cc=5739

 

Just don't forget that they're tied to some ridiculous contracts they can't get rid of for at least 2 months and don't add any parachute payments in because they don't get any.

 

FEBRUARY 25, 2012

Team Total Average

1 West Ham United 485,929 30,370

2 Derby County 414,622 25,913

3 Southampton 433,266 25,486

4 Leeds United 371,623 23,226

5 Leicester City 371,065 23,191

6 Cardiff City 333,389 22,225

7 Nottingham Forest 375,564 22,092

8 Brighton 321,726 20,107

9 Hull City 299,529 18,720

10 Birmingham 313,615 18,447

11 Ipswich Town 276,464 18,430

12 Reading 311,777 18,339

13 Middlesbrough 300,972 17,704

14 Crystal Palace 225,753 15,050

15 Portsmouth 220,833 14,722

16 Coventry City 249,774 14,692

17 Burnley 241,142 14,184

18 Bristol City 214,879 13,429

19 Watford 213,318 12,548

20 Blackpool 200,516 12,532

21 Millwall 189,393 11,140

22 Barnsley 177,574 10,445

23 Doncaster Rovers 145,265 9,684

24 Peterborough United 134,830 8,988

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http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

Chainrai claims the club owe him £29 million.

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

"We’re trying to protect the club and them.”

 

 

:lol::lol::lol::lol:

 

Comment on that article from a Skate.

 

''fredp

18 minutes ago

 

Why, in this story, does everybody, including the journalists, overlook the real reasons for the mess?

 

The club has been bought by a succession of foreign investors for 1 reason and 1 reason only. It is the same reason that the previous investors are still so heavily involved.

 

Fratton Park is situated right in the middle of one a prime pieces of land in the second most densely populated part of Britain. It is, in short, a gold mine. The club is just an excuse to them to get the city council "on side", by making token gestures to the club they are hoping to get popular support for planning processes.

 

This problem could be made to go away really easily. How? Get Portsmouth City Council to make Fratton Park and all the land surrounding it only useable for sporting purposes or recreational purposes. No houses, no business parks and no shops. Land instantly worthless.

 

Next (and I am a Pompey fan and an ex season ticket holder), wind the club up. Yes I did say that. Wind the club up. Then Gaydamak, Chanrai and all the others trying to asset strip our famous old club will be millions out of pocket and it will serve them right for being greedy.

 

Next, either start up an "AFC Portsmouth" selling them the now worthless land or get the fans to support Havant and Waterlooville Hawks, who, not being based on the island, will have much more room to grow and develop. Yes we'll have to start at the bottom but it will be worth it when we make it back to the championship in 10-15 years.

 

Hopefully all this will have a sobering effect on any other "investors" trying to do this to either our, or any other, club.''

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go out for the evening and miss four pages. :(

 

I would say that something significant has happened while I've been out reminding myself why I don't go to Andover more often....

 

Earlier I thought that some mad pompey fan would drag some money together and bankrupt themselves, but I reckon the last chance for that just exited stage left.

Not only has the Howe gang pulled out, but they have also labelled the business as f+cked.

 

So by my reckoning that was the last mad person in the universe likely to take it on.

Tis over.

 

 

 

Probably.

 

Let's just hope they can make it to St Mary's.

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This problem could be made to go away really easily. How? Get Portsmouth City Council to make Fratton Park and all the land surrounding it only useable for sporting purposes or recreational purposes. No houses, no business parks and no shops. Land instantly worthless.

Except that land already has such a covenant. If there is no football club, the council has the option of either letting the existing stadium rot like Plough Lane in Wimbledon did for years or removing the covenant and allowing development and regeneration of the area. Tough choice.

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As Steve says above, without a club the covenant is pointless. It really is a futile gesture by a council that can't be maintained long term. At some point the land will be developed for housing/offices/supermarket etc just a matter of time.

 

Plough Lane in 2012...

 

plough_lane_london_10815416.jpg

 

Fratton Park in 2014...?

Edited by Matthew Le God
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As Steve says above, without a club the covenant is pointless. It really is a futile gesture by a council that can't be maintained long term. At some point the land will be developed for housing/offices/supermarket etc just a matter of time.

 

Plough Lane in 2012...

 

plough_lane_london_10815416.jpg

 

Fratton Park in 2014...?

 

gypsy_1592437c.jpg

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I loved this from one of the Telegraph posters!: :D

 

"As a resident of Portsmouth, I would very much like to see the club gone. The town is a traffic stand still when they play at home; and the vile, loud mouth supporters seems to believe behaving like animals after every game is justified.

 

I have always wondered how the Southampton lot earned the name 'scum'. It is a name more apt for Pompey fans.

 

The stadium seems to be 'revered' because of some bizarre nostalgic sentiment. Utter crap. It is simply an embarrassing shed that most fans wouldn't give a backward glance at if another stadium was built. I'll never forget how those scum went on a wrecking spree in their home town.

 

Begone PFC - your time was over years ago."

 

So brilliant and true, I'm sure it must have been one of us!

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The forum will be reset and your post count expunged.

That would be a disaster for Phil! In desperation he may have to get together with some of his Dubai millionaire golfing buddies to form a consortium to take over Cheats FC. Is Tiger down there at the moment?

 

If not, maybe Gold and Sullivan would be willing to chip in to help with this rescue mission.

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The League would be in deep mire if they propped up Pompey with say an advance of the TV money for this season, which in itself might not bring a points penalty. Pompey beat the drop and are bought at the eleventh hour and three other clubs are relegated. The only thing the League can do is leave it to the Administrator and if they liquidate carry out the League rules.

 

It's not going to happen. Trevor Birch has made clear that he has exhausted all possibilities of cash advances and the PL and FL have said no, essentially because that gives Pompey an unfair advantage that would be crucified in a court. It is really tick tock time before Birch has to fold the club.

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That would be a disaster for Phil! In desperation he may have to get together with some of his Dubai millionaire golfing buddies to form a consortium to take over Cheats FC. Is Tiger down there at the moment?

 

If not, maybe Gold and Sullivan would be willing to chip in to help with this rescue mission.

 

I just looked at the stats. I have posted more than Coripy. I feel sad now.

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This soap opera needs one last twist:

 

- Pompey last until April haemorrhaging players and money

- We spank them out of sight at our place

- Pompey liquidate before end of season.

- All season's results made void

- They reform in the lower leagues

- We rib them that their club has no history now as it is a different club

- They rib us that our win never happened so the 4-1 is unavenged

 

These arguments could form the basis of a new, real disagreement which would put the old S.C.U.M nonsense to shame.

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In David Conn's Guardian article quoting Trevor Birch:

 

"We will make contact with anyone we believe could be a serious bidder for the club," Birch said. "They will need to be prepared to make a major investment, because the wages of the players taken on means the club will lose between £8m and £10m next year. This is what it has come to: Portsmouth could go into liquidation."

 

I would imagine there is complete disarray among the Pompey players about whether to agree to play for free for a while or argue that they are guilt-free because of the contracts signed. Clearly Kanu could do them a favour by retiring but it hasn't happened. Norris only signed for them after a deal was offered that made Ipswich say, "what is that about"...

 

I think there may be some honest gents amongst the players but the disarray will cause them real on field hassle against Middlesboro on Saturday.

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In David Conn's Guardian article quoting Trevor Birch:

 

"We will make contact with anyone we believe could be a serious bidder for the club," Birch said. "They will need to be prepared to make a major investment, because the wages of the players taken on means the club will lose between £8m and £10m next year. This is what it has come to: Portsmouth could go into liquidation."

 

I would imagine there is complete disarray among the Pompey players about whether to agree to play for free for a while or argue that they are guilt-free because of the contracts signed. Clearly Kanu could do them a favour by retiring but it hasn't happened. Norris only signed for them after a deal was offered that made Ipswich say, "what is that about"...

 

I think there may be some honest gents amongst the players but the disarray will cause them real on field hassle against Middlesboro on Saturday.

 

Let's not forget Tal Ben Haim is still there. The same Tal Ben Haim who a certain Jose Mourinho fought tooth and nail for at Chelsea. Footballers have CVs like the rest of us, and I suspect that fact is the only thing on Ben Haim's sheet of A4 - he's done **** all else in his career but still earned a hell of a lot of money. He'll be earning a decent Premier League salary despite being a Championship player that can't seem to settle anywhere.

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Some really crazy comments from Andronikou in the Telegraph also:

 

http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

 

Chainrai claims the club owe him £29 million.

 

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

 

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

 

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

 

"We’re trying to protect the club and them.”

 

Utter clusterfick as entirely aligned against Trevor Birch and clearly an attempt to prevent whatever minimal chance PKF has of selling distressed Pompey to another interested party.

Edited by TopGun
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Some really crazy comments from Andronikou in the Telegraph also:

 

http://www.telegraph.co.uk/sport/football/teams/portsmouth/9116030/Portsmouth-may-fold-before-the-end-of-Championship-season-says-administrator-of-cash-strapped-club.html

 

However, a source close to Balram Chainrai, the former Gaydamak business partner to whom Portsmouth defaulted after a previous insolvency, confirmed to Telegraph Sport that his Portpin vehicle is ready to assume control again rather than to see Pompey liquidated.

 

Chainrai claims the club owe him £29 million.

 

The validity of those claims is the subject of a legal challenge but even if the valid debts are reduced he is certain to remain a significant creditor.

 

Andronikou, who works as administrator to the club’s parent, Convers Sports Initiatives, said: “This club has got a better income than most of its competitors.

 

"You can’t say it isn’t sustainable. We control 80 per cent of creditors and so we won’t allow them to trash the club.

 

"We’re trying to protect the club and them.”

 

Utter clusterfick as entirely aligned against Trevor Birch and clearly an attempt to prevent whatever minimal chance PKF has of selling distressed Pompey to another interested party.

 

Is that the cavalry coming over the hill to rescue them??? Could Chanrai and AA be coming to save them??

 

I suppose its a bit like finding that the only doctor who responds to a call of "is there a doctor in the house??" if you collapse at the cinema turns out to be Harold Shipman.

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I wonder where the pet skates are. I am sure that Ho and pfc can throw some light on the current situation.

 

Ho claims to be working out his Christmas Budgets. Based on his track record on here I am willing to bet that there will be loads of Barbie dolls going cheap early in 2013 as shops find that they have been sent much more stock than they wanted!!,

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