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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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doddisalegend

doddisalegend

Posted
Posted

I see on the beeb that

 

Trevor Birch says no offers to buy Portsmouth have been made

Portsmouth administrator Trevor Birch has said that no offers have been made to buy the club, and that liquidation is still a possibility.

 

http://www.bbc.co.uk/sport/0/football/17677437

 

Do you think interested buyers are waiting to see what league the skates will be in first or......is there nobody, who can actual afford to buy the club, interested

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trousers

trousers

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[TD][Comment From Jonesy Jonesy : ]

What question would you ask Trevor Birch in his webcaht this Friday if you weren't a Portsmouth News journalist? [/TD]

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Wednesday April 11, 2012 14:18 Jonesy

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[TD]Neil:

What does he really think of Chainrai and Andronikou! They've done their best to discredit him!!! [/TD]

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Wednesday April 11, 2012 14:18 Neil

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trousers

trousers

Posted
Posted

Derek's quite good too....

 

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[TD][Comment From Derek Derek : ]

I've just realised that Southampton have lost twice to Bristol City this season.....they could end up contributing to our relegation this season! Dislike them even more now! PUP! [/TD]

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Wednesday April 11, 2012 14:21 Derek

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;)

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trousers

trousers

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[TD][Comment From OldfieldBlue OldfieldBlue : ]

Shocking list of creditors again - Poppy Appeal? So much for the FA's ex Head of Integrity eh? Beginning to think we deserve all we get... [/TD]

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Wednesday April 11, 2012 14:21 OldfieldBlue

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trousers

trousers

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[TD][Comment From JamesPFCtrue JamesPFCtrue : ]

How do you feel about the club owing the same sort of people...including schools, St Johns ambulance money STILL..yet we continue to extend players loan agreements. I do not believe for one minute that these players come at no cost to PFC [/TD]

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Wednesday April 11, 2012 14:25 JamesPFCtrue

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[TD]Neil:

Morally it is wrong, however the club still has to keep fulfilling its fixtures. These are young lads on low wages whose cost are being largely suplemented by their parent club.

 

 

Still doesn't help the local businesses who continued to be treated appallingly. They haven't even been paid for the last CVA. [/TD]

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Thedelldays

Thedelldays

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[TD][Comment From JamesPFCtrue JamesPFCtrue : ]

How do you feel about the club owing the same sort of people...including schools, St Johns ambulance money STILL..yet we continue to extend players loan agreements. I do not believe for one minute that these players come at no cost to PFC[/TD]

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Wednesday April 11, 2012 14:25 JamesPFCtrue [/TD]

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[TD]Neil:

Morally it is wrong, however the club still has to keep fulfilling its fixtures. These are young lads on low wages whose cost are being largely suplemented by their parent club.

 

 

Still doesn't help the local businesses who continued to be treated appallingly. They haven't even been paid for the last CVA.[/TD]

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:)

 

.

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trousers

trousers

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[TD][Comment From Olga Olga : ]

Do you have any sympathy or empathy with the Daily Echo who have suffered similar bans at St Mary's in recent years? [/TD]

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Wednesday April 11, 2012 14:42 Olga

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[TD]Neil:

Definitely. Why is a club doing as well as that banning local press? It doesn't make sense.

 

 

In fact there isn't any need for it. [/TD]

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trousers

trousers

Posted
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[TD][Comment From NorthamptonChimes NorthamptonChimes : ]

Thought last night was something of a surrender. Going down without so much as a whimper. I expect Appy to want a major-league clear out in the summer. But you can't rely on loanees to keep you up. They will shrug their shoulders and go back to their parent clubs. [/TD]

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Wednesday April 11, 2012 14:51 NorthamptonChimes

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[TD]Neil:

The Sheffield United chairman last season blamed the amount of loanees they had for their relegation.

 

 

Pompey haven't had a choice. Although the majority have been decent it is fair to say.

 

 

Certainly a class above Dicko and Sonko! [/TD]

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Wednesday April 11, 2012 14:53 Neil

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"Didn't have a choice"?! No academy players to call upon then....? Sigh

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standy

standy

Posted
Posted
It appears the list of creditors is a combination of those from the initial CVA and new creditors so it is almost certainly the same 40k.

 

I spoke to the headmaster of KES and he assured me that for the first (?) admin that he was not so stupid to allow PFC any credit and had always insisted on 'cash up front' so were not owed anything by them. I wonder what has changed

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trousers

trousers

Posted
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[TD][Comment From Stever Stever : ]

Hi Neil. I know this is going over old ground but I just can't believe after half a billion went through PFC whilst we were in the Prem that nothing was done to even secure a training ground. Surely that was a bare minimum that could have been pumped back into the club but alas nothing.[/TD]

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Wednesday April 11, 2012 14:54 Stever [/TD]

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[TD]Neil:

Pompey had the chance to buy the training ground under Redknapp. They spent the money on players instead.

 

 

Stoke are currently upgrading their training ground by spending £6m.

 

 

Makes you think doesn't it.[/TD]

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Erm.....no....it didn't make Pompey fans "think"....for years....

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trousers

trousers

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[TD][Comment From Stocker from Stamshaw Stocker from Stamshaw : ]

Just to lighten the mood a little, lets ask some smaller questions! Have we resolved the issue of the fat in the pipes which prevents us from having hot water? And, will the clock be fixed? [/TD]

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Wednesday April 11, 2012 14:57 Stocker from Stamshaw

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[TD]Neil:

Actually, you have just reminded me. Dubov recently in an interview spoke of his pride at what CSI had achieved at the club - a Pompey app.

 

 

Thanks for that. [/TD]

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pedg

pedg

Posted
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[TD][Comment From Stever Stever : ]

Hi Neil. I know this is going over old ground but I just can't believe after half a billion went through PFC whilst we were in the Prem that nothing was done to even secure a training ground. Surely that was a bare minimum that could have been pumped back into the club but alas nothing.[/TD]

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Wednesday April 11, 2012 14:54 Stever [/TD]

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[TD]Neil:

Pompey had the chance to buy the training ground under Redknapp. They spent the money on players instead.

 

 

Stoke are currently upgrading their training ground by spending £6m.

 

 

Makes you think doesn't it.[/TD]

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Erm.....no....it didn't make Pompey fans "think" for years....

 

Now if the building firms had done a deal where redknapp got 10% of the contract it might have been different...

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holepuncture

holepuncture

Posted
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[TD][Comment From Stocker from Stamshaw Stocker from Stamshaw : ]

Just to lighten the mood a little, lets ask some smaller questions! Have we resolved the issue of the fat in the pipes which prevents us from having hot water? And, will the clock be fixed? [/TD]

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Wednesday April 11, 2012 14:57 Stocker from Stamshaw

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[TD]Neil:

Actually, you have just reminded me. Dubov recently in an interview spoke of his pride at what CSI had achieved at the club - a Pompey app.

 

 

Thanks for that. [/TD]

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Gutted I didnt manage to get anymore in other than my favourite fat in the pipes, only caught the chat right at the end!

 

Its been a while, but I think on this magnificent day these will be quite fitting:

 

Moneyfieldstrain.jpg

 

Moneyfieldsstand.jpg

 

I remember Corp having a go at me for constantly bombrading him with Moneyfields pictures... shalala

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dubai_phil

dubai_phil

Posted
Posted
Gotta hurt ain't it.

 

 

NavyPoster_450x300.jpg

 

Not that I understand these things, but according to Twitter it is Happy Hump Day today.

 

Now does that refer to what is happening to PCFC, your legendary poster, what I better do to FDMP this evening or is it just some Eurovision thingy?

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holepuncture

holepuncture

Posted
Posted
God bless HMRC.

 

And God bless Lord Andronikou of UHY for his £200k fee for gobbing off to the press once or twice before Birch got the gig.

 

God bless Birch for doing the skates for £318 per hour.

 

God bless the good man Chainrai.

 

God bless the russian mafia who promised the skates he would write off their £10.8m debt, only for that to be legally impossible in admin, and for them to sit proudly at the top of Birches £59m unsecured creditors list.

 

God bless Tal Ben Haim, it goes without saying.

 

God bless Lampit and Cotteril and quality over quantity - the second highest spenders in the league!

 

Not really into god bothering, but we have a number of people who are due a blessing for their services to SFC.

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suewhistle

suewhistle

Posted
Posted
Knew it was someone regular from here but after going back 60 pages in a valiant attempt to re-quote I gave up & went direct to You Tube:)

 

No probs, I'm feeling magnanimous.;-) Earnt a bit teaching this morning, skied fresh powder under blue skies then came home to the first class entertainment this thread represents - it constantly gets better in a succession of laughs, dropped jaw in amazement and wicked chuckles at Pompey's plight. A quick snooze and I'll be ready for footie training tonight: what a perfect day.:-)

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dubai_phil

dubai_phil

Posted
Posted

Again from Matt Slater

 

.....but #pompey seem to have not paid a hotel bill for some time.

 

It is just Incredulous.

 

And yet even Birch admitted in the statement "getting a balance between "my word - gambling" to stay up and cutting costs

 

Even HE couldn't resist it - pay the players sod the poor Hotels/Taxi Drivers/Coach Companies.

 

TBH I am now at the point where Liquidation is no longer good enough for them SURELY there must be SOME laws against this. People deserve JAIL time

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dubai_phil

dubai_phil

Posted
Posted
Sky Sports ‏ @SkySports

Rangers administrators have been forced to delay the announcement of a preferred bidder for the Ibrox club . More on site soon.

Hmmm, wonder what's going on up there...maybe one of the bidders has seen Pompey's administration report and decided they're a much better proposition.... :lol:

 

There seems to be some kind of deal on the table from SFA - ban from Europe etc etc or relegation to Div 3

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FarehamRed

FarehamRed

Posted
Posted
And God bless Lord Andronikou of UHY for his £200k fee for gobbing off to the press once or twice before Birch got the gig.

 

God bless Birch for doing the skates for £318 per hour.

 

God bless the good man Chainrai.

 

God bless the russian mafia who promised the skates he would write off their £10.8m debt, only for that to be legally impossible in admin, and for them to sit proudly at the top of Birches £59m unsecured creditors list.

 

God bless Tal Ben Haim, it goes without saying.

 

God bless Lampit and Cotteril and quality over quantity - the second highest spenders in the league!

 

Not really into god bothering, but we have a number of people who are due a blessing for their services to SFC.

 

Don't forget the one and only Peter Storrey. Saints legend?

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trousers

trousers

Posted
Posted

Adrian Durham (TalkSport) just read out the administrator's announcement about the possible liquidation. He obviously hasn't been made aware of the new list of creditors yet otherwise he would have gone ballistic.

 

Then Darren Gough said "They've still got a decent stadium though".

 

To which Durham replied: "You're joking!? It's the pits!"

 

:lol:

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Gemmel

Gemmel

Posted
Posted

Well I just read the report and might have to take back my prediction this morning they won't be liquidated.

 

Outside of the higher than expected debt, a few nice snippets, but basically the whole document is one big dig at the secured creditors.

 

1) Baker Tilly seem to have dibs on the parachute payments - Birch still looking into this.

 

2) Chinny - he's trying to go for the parachute payments - Birch looking into whether this is possible

 

3) Some 4 million pounds might have been magiced from the old co, but guess what - Birch is looking into this.

 

But when you add it all up, the message to BT, Chinny and Gaydamak (Unless I am being very stupid) is that you will get a tiny amount from a CVA and most likely nothing from liquidation. But looks like all three of them have dropped Birch and are going straight for the gold parachute payments.

 

What I do think (No idea if this is even legal) is that there is strong possibility the FL agreed to give new co the Golden Share last time round on the basis that the parchute payments were assigned to Baker Tilly.

 

 

As noted at paragraph 3.23 the receipt of future payments is subject to compliance withPremier League rules. Certain Parachute Payments otherwise due to the Company arepotentially subject to an assignment in favour of OldCo. Our solicitors are investigating theCompaniesposition in respect of the assignment and we are unable to comment any further

at this stage.

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sotonjoe

sotonjoe

Posted
Posted
It appears the list of creditors is a combination of those from the initial CVA and new creditors so it is almost certainly the same 40k.

 

I don't think it is. Portpin / the OldCo are owed £16.5m on this new list for the CVA which was arranged as the partial repayment of the old debts. The remaining £24m of the total £40m would appear to be new.

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Gorgiesaint

Gorgiesaint

Posted
Posted
Adrian Durham (TalkSport) just read out the administrator's announcement about the possible liquidation. He obviously hasn't been made aware of the new list of creditors yet otherwise he would have gone ballistic.

 

Then Darren Gough said "They've still got a decent stadium though".

 

To which Durham replied: "You're joking!? It's the pits!"

 

:lol:

 

You could tell that Durham was almost lost for the right words - I was waiting for the expletives to come out!

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sotonjoe

sotonjoe

Posted
Posted
There's a lot of the creditors from the old list who are not on the new list PLUS Portsmouth City Football Club Ltd (in LIquidation) - OldCo - are on the new lost, to the tune of £16.5m.

 

These are new creditors and new amounts chaps.

 

Correct. That's how it seems to me after having read through the whole report.

 

The report even makes it clear that the current admin are unclear how much of the £16.5m debt will remain payable once the liquidation of OldCo is complete. In other words, they're hoping they can erase a lot of the old £16.5m debt which will take a big chunk off the total £40m currently owed.

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Pedro

Pedro

Posted
Posted

Just looked at the creditors list. This is not bad luck or a shortfall due to CSI downfall, this has manifested itself over a longer period. Just look at how many football clubs are listed, even S****horpe, a huge slice to Wembley etc. This has been a deliberate act in my opinion because they have not intended to pay any of those hotel bills that must refer to every away game including some from last season (Marriot in Swansea) so IMO this has been a fraud and the directors, especially Lampitt, should be banned for years from ever being a director again.

 

There should be no chance of them having the opportunity to trade again "as is" and should be liquidated just as any other company would be in that situation.

 

Not just toast but burnt toast.

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