Pompey Takeover Saga

[Clapham Saint]

What a load of crap! Wild, pie in the sky assumptions when in reality NONE of us mere mortals knows what's actually going on. You're just hoping we're about to go pop....

 

 

No, you are just hoping that you don't.

 

Ok. I haven't seen your management accounts or any figures, however you have been entirely reliant upon loans from your current owner for a number of years. You have been operating with a wage bill in excess of your turnover.

 

If you are not going to get any more money from Gaydamak where is it going to come from?

 

Do you honestly beleive that a bank will let you run up an overdraft?

 

Gaydamak is also (in my opinion and experience) showing all the signs of an owner who can see the writing on the wall and is trying to extract every penny that he can before it all goes tits.

 

If it makes any difference I really hope that you don't go out of business. Especially after what we have just been thorugh.

[hypochondriac]

Based on what?

 

Based on the fact that you have no players and a very short time to get it all sorted. Before you start on about saints, league one is miles easier to do well in than the prem. Even if you get some players in, it is likely that you will have a poor start and they are historically very hard to overcome.

[hypochondriac]

i would love it if they went out of business..I have been to pomepy so many times (with work) and hate the place and the people and the fact even in fareham nearly getting filled in for no reason than saying I was from southampton..

 

yes I know we all have these morons following us..but could you imagine OUR morons chanting during a minutes silence at fratton..?

 

neither can I..

 

They will never go out of business and I wouldn't want them to completely or I would have no one to gloat to when we are on top.

[pfc123]

i would love it if they went out of business..I have been to pomepy so many times (with work) and hate the place and the people and the fact even in fareham nearly getting filled in for no reason than saying I was from southampton..

 

yes I know we all have these morons following us..but could you imagine OUR morons chanting during a minutes silence at fratton..?

 

neither can I..

 

Am I right in thinking that you were/are 'Grumpydelldays' from other forums?

[Thedelldays]

They will never go out of business and I wouldn't want them to completely or I would have no one to gloat to when we are on top.

 

 

I hope they go through alot of pain and grief with their horrible club if they survive

[Thedelldays]

Am I right in thinking that you were/are 'Grumpydelldays' from other forums?

no mate..

 

I am Thedelldays on there too...just dont bother after the infestation after you finally beat us..it ruined the place

[pfc123]

no mate..

 

I am Thedelldays on there too...just dont bother after the infestation after you finally beat us..it ruined the place

 

ok, fair do's...

[Huffton]

Based on what?

 

Better ground, own training facilities, gym etc, academy, infrastructure, nicer area, bigger catchment for new supporters.....

[hypochondriac]

I hope they go through alot of pain and grief with their horrible club if they survive

 

I wholeheartedly agree. People saying now we have gone through it I hope that never happens to them, well frankly I do hope it happens to them. We are in this situation primarily because of our stadium debt. They are in their situation because they massivly overspent and must now take the medicine. They deserve what they get now whereas we didn't at all.

[EastleighSoulBoy]

Better ground, own training facilities, gym etc, academy, infrastructure, nicer area, bigger catchment for new supporters.....

 

Our ponies being more attractive than their sisters?

[pfc123]

No, you are just hoping that you don't.

 

Ok. I haven't seen your management accounts or any figures, however you have been entirely reliant upon loans from your current owner for a number of years. You have been operating with a wage bill in excess of your turnover.

 

If you are not going to get any more money from Gaydamak where is it going to come from?

 

There are plenty of people willing to buy a Premiership club, especially one with a good history of actually winning things.

 

Do you honestly beleive that a bank will let you run up an overdraft?

 

Er, yes. See above- all the time we're a Premiership club, we have value to an investor. It's only when you fall out of the Prem that the cracks start to appear, wouldn't you say?

 

Gaydamak is also (in my opinion and experience) showing all the signs of an owner who can see the writing on the wall and is trying to extract every penny that he can before it all goes tits.

 

If it makes any difference I really hope that you don't go out of business. Especially after what we have just been thorugh.

 

But you're forgetting- we've been through this ourselves already 10 years ago. You seem to think you have a monopoly on suffering. Jeez, we suffered for 40 odd years until Milan came in.

 

With that in mind, and comments like "rightful place above you", and "natural order re-establishing itself", is it any wonder that a few you get filled in whenever you go shooting your mouths off east of Titchfield?

[bridge too far]

pfc123

 

Yes you do have an overdraft. But isn't part of your problem that you have to pay a huge, huge chunk of it off next month?

[Clapham Saint]

There are plenty of people willing to buy a Premiership club, especially one with a good history of actually winning things.?

 

Except that you won't be a premiership club. If your takeover doesn't happen and you go into administration you will have 14 players and -10 points. You will be a championship club in the 2010/11 season and this will be reflected in the interest shown in you.

 

Er, yes. See above- all the time we're a Premiership club, we have value to an investor. It's only when you fall out of the Prem that the cracks start to appear, wouldn't you say?

 

Er, see above. Your whole argument is based upon your premiership status. Mine is that you will not be able to maintain it without significant investment in new players. This becomes even more unlikely if you go into administration and suffer -10.

 

No banker in his right mind will lend pompey any additional money now unless fully secured. What security do you have to offer? Er.. none other than future revenue streams, which if you go into administration will not be received.

 

But you're forgetting- we've been through this ourselves already 10 years ago. You seem to think you have a monopoly on suffering. Jeez, we suffered for 40 odd years until Milan came in.

 

With that in mind, and comments like "rightful place above you", and "natural order re-establishing itself", is it any wonder that a few you get filled in whenever you go shooting your mouths off east of Titchfield?

 

I've never said anything about anybody's "rightful place". All I said was that I didn't want you to go out of business completely. Now (i.e. in the middle of a global recession) is not a good time to go into administration if you expect to come out of it with the ability to continue to compete at even close to a high level.

[pfc123]

Except that you won't be a premiership club. If your takeover doesn't happen and you go into administration you will have 14 players and -10 points. You will be a championship club in the 2010/11 season and this will be reflected in the interest shown in you.

 

 

 

Er, see above. Your whole argument is based upon your premiership status. Mine is that you will not be able to maintain it without significant investment in new players. This becomes even more unlikely if you go into administration and suffer -10.

 

No banker in his right mind will lend pompey any additional money now unless fully secured. What security do you have to offer? Er.. none other than future revenue streams, which if you go into administration will not be received.

 

 

 

I've never said anything about anybody's "rightful place". All I said was that I didn't want you to go out of business completely. Now (i.e. in the middle of a global recession) is not a good time to go into administration if you expect to come out of it with the ability to continue to compete at even close to a high level.

 

I didn't say you personally have said those quotes, but they're littered all across this site- the arrogance is unbelievable!

 

All your doom and gloom for Pompey is purely based on the fact that you're absolutely convinced we're going down. We haven't even started playing yet FFS!!

[sotonjoe]

i would love it if they went out of business..I have been to pomepy so many times (with work) and hate the place and the people and the fact even in fareham nearly getting filled in for no reason than saying I was from southampton..

 

yes I know we all have these morons following us..but could you imagine OUR morons chanting during a minutes silence at fratton..?

 

neither can I..

 

portsmouth really is a godforsaken place.

[Clapham Saint]

I didn't say you personally have said those quotes, but they're littered all across this site- the arrogance is unbelievable!

 

All your doom and gloom for Pompey is purely based on the fact that you're absolutely convinced we're going down. We haven't even started playing yet FFS!!

 

As things stand you are going to struggle.

 

If you go into admin and lose 10 points then you are going to go down.

[Gingeletiss]

As things stand you are going to struggle.

 

If you go into admin and lose 10 points then you are going to go down.[/quote]

 

 

Those are football league rules.......what are the Premier league rules, they have a different governing body!!!

[saint_stevo]

dont want them to go bust, i want them to struggle and get mocked and be absolute dump for as long as possible.

 

in bred bunch of hobo's

[Clapham Saint]

As things stand you are going to struggle.

 

If you go into admin and lose 10 points then you are going to go down.[/quote]

 

 

Those are football league rules.......what are the Premier league rules, they have a different governing body!!!

 

Ok then, 9 points. They'll still go down.

 

Sporting Sanction

 

60.

Upon a Club suffering an Event of Insolvency:

60.1 the insolvent Club shall thereupon suffer a deduction of 9 points scored or to be scored

in the League competition; and

60.2 the Board shall forthwith give written notice to the insolvent Club to that effect.

 

Taken from page 94 of the league rules

[Clapham Saint]

dont want them to go bust, i want them to struggle and get mocked and be absolute dump for as long as possible.

 

in bred bunch of hobo's

 

I want them to go into admin. I don't want them to dissapear for ever.

[Elmore]

Better ground, own training facilities, gym etc, academy, infrastructure, nicer area, bigger catchment for new supporters.....

 

... kit supplier...

 

http://www.guardian.co.uk/sport/2009/jul/15/digger-canterbury-kits-owen-gibson

[Amesbury Saint]

I dont want them to go into admin or bust.

 

But I am quite happy for them to gain just 5 points next season.

[Jimmy_D]

wonder what odds you can get at the moment for Pompey ending up on negative points next season...

[RedArmy]

Let's not get carried away, they are the jammiest cvnts known to man and will somehow come out of this better than before.

[Jimmy_D]

Let's not get carried away, they are the jammiest cvnts known to man and will somehow come out of this better than before.

 

Reckon Saints are up for that award at the moment!

 

A team in league one, on -10 points, and hours away from going out of existence, to being richer than Man Utd, Liverpool, and Arsenal?

 

Even if their takeover does go through, doesn't look like they'll match that...

[mack rill]

Let's not get carried away, they are the jammiest cvnts known to man and will somehow come out of this better than before.

 

Well done RedArmy thats whats needed a bit of positive thinking:smt023

And for all those who think Gayman will lose mega bucks on us,,,,,,like fook he will,:mad:,,,,,,My view of it is He paid for us with a 30mill bank note, spent 12 mill on 3 yidds and has been clawing it back ever since, Bag puss had already started to put together a top ten side and after the FA win Gayman had started to asset strip, Making big profits on the likes of Muntari, Deara, the mucky midget, Mendez, Johno, and quite possibly Crouch, Calamity, Disstan, Leaving him the wad to pay off the note, and ride off into the sunset with a nice little wedge, Our wage bill must only be fraction to what it was We will have no dept, So unlucky my pony fiddling friends NO administration, Of coarse the down side is we will more than likely be on para shoot payments from next season:mad:

[Gingeletiss]

Well done RedArmy thats whats needed a bit of positive thinking:smt023

And for all those who think Gayman will lose mega bucks on us,,,,,,like fook he will,:mad:,,,,,,My view of it is He paid for us with a 30mill bank note, spent 12 mill on 3 yidds and has been clawing it back ever since, Bag puss had already started to put together a top ten side and after the FA win Gayman had started to asset strip, Making big profits on the likes of Muntari, Deara, the mucky midget, Mendez, Johno, and quite possibly Crouch, Calamity, Disstan, Leaving him the wad to pay off the note, and ride off into the sunset with a nice little wedge, Our wage bill must only be fraction to what it was We will have no dept, So unlucky my pony fiddling friends NO administration, Of coarse the down side is we will more than likely be on para shoot payments from next season:mad:

 

Mack rill...that's how I see it.....you are down even if Dr No takes you over. The up side is, that by binning these players, you may be/have paid of your debt, therefore making you sellable. I would like to see you taken down a peg or two, but like Many other Saints fans I know, I wouldn't wish for you to not exist. Banter is one thing........reality is another.

[Clapham Saint]

Well done RedArmy thats whats needed a bit of positive thinking:smt023

And for all those who think Gayman will lose mega bucks on us,,,,,,like fook he will,:mad:,,,,,,My view of it is He paid for us with a 30mill bank note, spent 12 mill on 3 yidds and has been clawing it back ever since, Bag puss had already started to put together a top ten side and after the FA win Gayman had started to asset strip, Making big profits on the likes of Muntari, Deara, the mucky midget, Mendez, Johno, and quite possibly Crouch, Calamity, Disstan, Leaving him the wad to pay off the note, and ride off into the sunset with a nice little wedge, Our wage bill must only be fraction to what it was We will have no dept, So unlucky my pony fiddling friends NO administration, Of coarse the down side is we will more than likely be on para shoot payments from next season:mad:

 

I think we're going to have to accept that we disagree. We'll see I guess.

 

I think though that you are probably underestimating the losses that have been made during the period of Gayman's tenure which will have soaked up a lot of cash. Cash which was most likely lent to the club by him and is not being taken back out.

 

Do you trust him to leave behind enough working capital to operate for the rest of the season (high or low wages)?

[Corporate Ho]

I think we're going to have to accept that we disagree. We'll see I guess.

 

I think though that you are probably underestimating the losses that have been made during the period of Gayman's tenure which will have soaked up a lot of cash. Cash which was most likely lent to the club by him and is not being taken back out.

 

Do you trust him to leave behind enough working capital to operate for the rest of the season (high or low wages)?

 

The Quay radio station (which is part owned by PFC) is reporting this morning that the takeover should be finalised either today or tomorrow. My understanding is that the loans Gaydamak took out are secured at least in part against him rtaher than 100% against the club. Proceeds from the sale of players such as Johnson, Crouch etc are going to Gaydamak to pay these loans rather than PFC and this is one of the things that's held the deal up as Al Fahim negotiated on the price he'd pay. I've also been told that a large part of the finance Al Fahim had in place has fallen through and that he won't have anywhere near the amount of money to spend on players and infrastructure that he planned. How much exactly will, I guess, become apparent quite quickly once/ if he takes ownership (radio reporting it's just waiting for the PL to ratify his FAPPT).

[Clapham Saint]

The Quay radio station (which is part owned by PFC) is reporting this morning that the takeover should be finalised either today or tomorrow. My understanding is that the loans Gaydamak took out are secured at least in part against him rtaher than 100% against the club. Proceeds from the sale of players such as Johnson, Crouch etc are going to Gaydamak to pay these loans rather than PFC and this is one of the things that's held the deal up as Al Fahim negotiated on the price he'd pay. I've also been told that a large part of the finance Al Fahim had in place has fallen through and that he won't have anywhere near the amount of money to spend on players and infrastructure that he planned. How much exactly will, I guess, become apparent quite quickly once/ if he takes ownership (radio reporting it's just waiting for the PL to ratify his FAPPT).

 

We'll see. I still think it will fall through but not doubt you are looking forward to reminding me of this if it doesn't.

[OldNick]

I've also been told that a large part of the finance Al Fahim had in place has fallen through and that he won't have anywhere near the amount of money to spend on players and infrastructure that he planned. How much exactly will, I guess, become apparent quite quickly once/ if he takes ownership (radio reporting it's just waiting for the PL to ratify his FAPPT).

I thought Gaydamek would not sell to anyone who couldnt invest in the stadium etc?

[Joey-deacons-left-nut]

This feels more and more like pinnacle each day... all we need now is this fellas spokesperson to come out and say there are a couple of legalities prevengint them from signing that they need ironing out with the Pl....

[Smirking_Saint]

I thought Gaydamek would not sell to anyone who couldnt invest in the stadium etc?

 

Think he just wants out now, there is obviously a firesale going on and like other people have said, players and staff do not jump ship if they believe things are going to come out rosey.

 

Like many other saints fans however i would not want to see the club go out of business, i much prefer the banter and the fact that like the scottish against the english you have this unrivalled massive infactuation with us.

 

Nethertheless, i believe that soon things will be back to normal and both teams will be in their rightful place, saints in the PL and the skates in league 1.

[Weston Super Saint]

T(radio reporting it's just waiting for the PL to ratify his FAPPT).

 

That'll be the next stumbling block then

 

Mind you, they ratified the gun running, money laundering, drug dealer, so a property scammer shouldn't be a problem for them, just as long as they get their 'cut'

[Sheaf Saint]

Think he just wants out now, there is obviously a firesale going on and like other people have said, players and staff do not jump ship if they believe things are going to come out rosey.

 

Like Surman and DMG you mean?

 

I do agree with the previous poster though. This has a ring of deja vu about it regarding Pinnacle. Just a few legalities that need ironing out. what if they can't be ironed out? There still seems to be some doubt about where the actual finance is coming from, so I can't see the PL approving the deal. They can't carry out a FAPPT if they don't know who the main investor actually is.

[Master Bates]

According to someone on the main board, an MUFC forum is suggesting admin for the skates today, however I found this http://www.portsmouth.co.uk/frattonlatest/Al-Fahim-insist-takeover-is.5474373.jp

[Clapham Saint]

That'll be the next stumbling block then

 

Mind you, they ratified the gun running, money laundering, drug dealer, so a property scammer shouldn't be a problem for them, just as long as they get their 'cut'

 

Allegedly obviously

[Clapham Saint]

Like Surman and DMG you mean?

 

I do agree with the previous poster though. This has a ring of deja vu about it regarding Pinnacle. Just a few legalities that need ironing out. what if they can't be ironed out? There still seems to be some doubt about where the actual finance is coming from, so I can't see the PL approving the deal. They can't carry out a FAPPT if they don't know who the main investor actually is.

 

A few legalities that couldn't possibly have been dealt with any earlier in the 3 month process. Definately not.

 

Oh.

[Clapham Saint]

According to someone on the main board, an MUFC forum is suggesting admin for the skates today, however I found this http://www.portsmouth.co.uk/frattonlatest/Al-Fahim-insist-takeover-is.5474373.jp

 

"He insisted Al Fahim remains as committed as ever in his pursuit of the club and that progress continues to be made."

 

Oh dear... poor skates.

[Corporate Ho]

Like Surman and DMG you mean?

 

I do agree with the previous poster though. This has a ring of deja vu about it regarding Pinnacle. Just a few legalities that need ironing out. what if they can't be ironed out? There still seems to be some doubt about where the actual finance is coming from, so I can't see the PL approving the deal. They can't carry out a FAPPT if they don't know who the main investor actually is.

#

 

Correct. Therefore, as the PL have had Al Fahim's application paperwork for 10 days now (confirmed by the PL themselves) that paperwork must have stated who the main investor/ investors are wouldn't it?

 

Can't imagine this paperwork would have been submitted if there was a possibility of anything being uncovered to stop it going through. The problem I've heard is how much cash is available once he takes ownership.

[Weston Super Saint]

#

 

Correct. Therefore, as the PL have had Al Fahim's application paperwork for 10 days now (confirmed by the PL themselves) that paperwork must have stated who the main investor/ investors are wouldn't it?

 

Can't imagine this paperwork would have been submitted if there was a possibility of anything being uncovered to stop it going through. The problem I've heard is how much cash is available once he takes ownership.

 

LOL.

Does he still live with his Mum

[Clapham Saint]

#

 

Correct. Therefore, as the PL have had Al Fahim's application paperwork for 10 days now (confirmed by the PL themselves) that paperwork must have stated who the main investor/ investors are wouldn't it?

 

Can't imagine this paperwork would have been submitted if there was a possibility of anything being uncovered to stop it going through. The problem I've heard is how much cash is available once he takes ownership.

 

Is there a reason/rumour/opinion/whatever on the Pompey boards as to why the sell off is happening if the deal is still going ahead?

 

Surely if the deal was going to happen Gayboy wouldn't need the fire sale as every departure will have a direct impact upon the amount that Al Fahim will eventually pay.

 

The most obvious reasons for the fire sale are that either Al Fahim cannot afford to pay for a team with more than 14 players (in which case I suspect he also wouldn't be able to pay for any new signings at all), or Gayboy knows that the deal is not going to complete and so is extracting as much cash as he possibly can before the administrators are called in.

 

I know this sounds argumentative but I'm genuinely interested in the Pompey take on this.

[Corporate Ho]

Is there a reason/rumour/opinion/whatever on the Pompey boards as to why the sell off is happening if the deal is still going ahead?

 

Surely if the deal was going to happen Gayboy wouldn't need the fire sale as every departure will have a direct impact upon the amount that Al Fahim will eventually pay.

 

The most obvious reasons for the fire sale are that either Al Fahim cannot afford to pay for a team with more than 14 players (in which case I suspect he also wouldn't be able to pay for any new signings at all), or Gayboy knows that the deal is not going to complete and so is extracting as much cash as he possibly can before the administrators are called in.

 

I know this sounds argumentative but I'm genuinely interested in the Pompey take on this.

 

The Quay radio station (which is part owned by PFC) is reporting this morning that the takeover should be finalised either today or tomorrow. My understanding is that the loans Gaydamak took out are secured at least in part against him rtaher than 100% against the club. Proceeds from the sale of players such as Johnson, Crouch etc are going to Gaydamak to pay these loans rather than PFC and this is one of the things that's held the deal up as Al Fahim negotiated on the price he'd pay. I've also been told that a large part of the finance Al Fahim had in place has fallen through and that he won't have anywhere near the amount of money to spend on players and infrastructure that he planned. How much exactly will, I guess, become apparent quite quickly once/ if he takes ownership (radio reporting it's just waiting for the PL to ratify his FAPPT).

 

Can't you read?

 

I was told at the weekend that Gaydamak has accepted a greatly reduced price from Al Fahim but is taking the proceeds from player sales in lieu of payment, along with part of the SKY payment which is due at the start of August. It was this re-negotiation that held up the deal. Gaydamak just wants out and is being crippled by the loans he took out.

 

The question is just how much funding Al Fahim has to pump into PFC once he takes over. I can't believe, given how important status is in the Arab world, that he'd go ahead with the deal if he had no cash to spend on the team resulting in relegation. Surely he'd just walk away. Similarly, if the club WERE on the brink of administration, again, why wouldn't he have just walked away before now. Why would his spokesman be saying that they're just waiting for the PL to ratify the FAPPT? If he was pulling out how come he's staying at the Meon Valley Country Club near Wickham with a full entourage right now? All the signs seem to be that the takeover will happen. Rumours about administration seem to have come from a Man Utd messageboard (and we all know how reliable messageboards are, don't we?). If there were any truth in it I'd have expected the media to pick up on it by now. The question is, what happens after the takeover.

[Smirking_Saint]

Like Surman and DMG you mean?

 

I do agree with the previous poster though. This has a ring of deja vu about it regarding Pinnacle. Just a few legalities that need ironing out. what if they can't be ironed out? There still seems to be some doubt about where the actual finance is coming from, so I can't see the PL approving the deal. They can't carry out a FAPPT if they don't know who the main investor actually is.

 

Exactly like that actually, as before things did not look good and everyone was fearing for saints, then the pinnacle deal collapsed.

 

Luckily the swiss rolled in and saved us big time.

[Clapham Saint]

Can't you read?

 

I was told at the weekend that Gaydamak has accepted a greatly reduced price from Al Fahim but is taking the proceeds from player sales in lieu of payment, along with part of the SKY payment which is due at the start of August. It was this re-negotiation that held up the deal. Gaydamak just wants out and is being crippled by the loans he took out.

 

The question is just how much funding Al Fahim has to pump into PFC once he takes over. I can't believe, given how important status is in the Arab world, that he'd go ahead with the deal if he had no cash to spend on the team resulting in relegation. Surely he'd just walk away. Similarly, if the club WERE on the brink of administration, again, why wouldn't he have just walked away before now. Why would his spokesman be saying that they're just waiting for the PL to ratify the FAPPT? If he was pulling out how come he's staying at the Meon Valley Country Club near Wickham with a full entourage right now? All the signs seem to be that the takeover will happen. Rumours about administration seem to have come from a Man Utd messageboard (and we all know how reliable messageboards are, don't we?). If there were any truth in it I'd have expected the media to pick up on it by now. The question is, what happens after the takeover.

 

I can indeed, however your points contradict each other and raise the question of why Gaydamak needs to take money from payer sales "in lieu of payment" if there is any significant finance available at all.

 

If there is not significant finance available, as would appear to be the case, then your second comment comes into play.

[Clapham Saint]

Exactly like that actually, as before things did not look good and everyone was fearing for saints, then the pinnacle deal collapsed.

 

Luckily the swiss rolled in and saved us big time.

 

I like what you did there... :-)

[dubai_phil]

The Quay radio station (which is part owned by PFC) is reporting this morning that the takeover should be finalised either today or tomorrow. My understanding is that the loans Gaydamak took out are secured at least in part against him rtaher than 100% against the club. Proceeds from the sale of players such as Johnson, Crouch etc are going to Gaydamak to pay these loans rather than PFC and this is one of the things that's held the deal up as Al Fahim negotiated on the price he'd pay. I've also been told that a large part of the finance Al Fahim had in place has fallen through and that he won't have anywhere near the amount of money to spend on players and infrastructure that he planned. How much exactly will, I guess, become apparent quite quickly once/ if he takes ownership (radio reporting it's just waiting for the PL to ratify his FAPPT).

 

 

Al Fahim doesn't have as much money as was expected....

 

Wow that's a HUGE shock.....

 

Another tick in the I told you so's column for DP

[dubai_phil]

Can't you read?

 

I was told at the weekend that Gaydamak has accepted a greatly reduced price from Al Fahim but is taking the proceeds from player sales in lieu of payment, along with part of the SKY payment which is due at the start of August. It was this re-negotiation that held up the deal. Gaydamak just wants out and is being crippled by the loans he took out.

 

The question is just how much funding Al Fahim has to pump into PFC once he takes over. I can't believe, given how important status is in the Arab world, that he'd go ahead with the deal if he had no cash to spend on the team resulting in relegation. Surely he'd just walk away. Similarly, if the club WERE on the brink of administration, again, why wouldn't he have just walked away before now. Why would his spokesman be saying that they're just waiting for the PL to ratify the FAPPT? If he was pulling out how come he's staying at the Meon Valley Country Club near Wickham with a full entourage right now? All the signs seem to be that the takeover will happen. Rumours about administration seem to have come from a Man Utd messageboard (and we all know how reliable messageboards are, don't we?). If there were any truth in it I'd have expected the media to pick up on it by now. The question is, what happens after the takeover.

 

Now that IS an interesting comment, which PR agency made that up?!

 

He is NOT important in the Arab World, he ran a legitimate quasi Government Real Estate Company in Abu Dhabi and pandered to his OWN ego. There are a trail of "issues" relating to the developments including Hydra Village.

 

He is not a part of any of the "Royal Families" which means he is simply a businessman. There are a lot of those down here and at this time as I believe I HAVE mentioned quite often, there IS no money for "Grandiose" overseas projects UNLESS it is "Personal Sovereign Wealth Funds"

[Clapham Saint]

Now that IS an interesting comment, which PR agency made that up?!

 

He is NOT important in the Arab World, he ran a legitimate quasi Government Real Estate Company in Abu Dhabi and pandered to his OWN ego. There are a trail of "issues" relating to the developments including Hydra Village.

 

He is not a part of any of the "Royal Families" which means he is simply a businessman. There are a lot of those down here and at this time as I believe I HAVE mentioned quite often, there IS no money for "Grandiose" overseas projects UNLESS it is "Personal Sovereign Wealth Funds"

 

You could have told us this earlier!!

[dubai_phil]

You could have told us this earlier!!

 

:cool:

 

From the day his name was announced.

 

The only time I felt he could have pulled it off was when there were rumours of one of the family giving him backing. Happily my sources indicated that it was just that, rumours, but they did thank me for pointing it out and did give me an upgrade on my trip back from Glasto

 

IF it finally goes wrong I PROMISE to let the blue few have a little laugh about it all though, but I wouldn't be so nasty right now as my boys are enjoying themselves too much at the moment.