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Pompey Takeover Saga


Fitzhugh Fella

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Despite it being perfectly playable for next season in League One, Pompey whilst in administration are relaying their pitch at the moment!

 

181862_395152337195234_157014954342308_1068683_1531656542_n.jpg

They might be assisting Tescos planning permission application, Trying to turn it in to a brown field site.

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Was on a stag recently with a Championship player I'd never met before but turned out to be a sound bloke. Currently on £10k a week & out of contract this summer wanted by the Skates and offered "good money" through his agent. Obviously I laughed when he told me this and reminded him how much he loves getting paid. Every month. On time. In full.

 

He ain't going there (Skates have got a shocking reputation at the moment but I also really rubbed it in). And how the f*** can they offer "decent money" to someone on £10k a week (who's idea of "good money" will therfore be pretty high)?

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Was on a stag recently with a Championship player I'd never met before but turned out to be a sound bloke. Currently on £10k a week & out of contract this summer wanted by the Skates and offered "good money" through his agent. Obviously I laughed when he told me this and reminded him how much he loves getting paid. Every month. On time. In full.

 

He ain't going there (Skates have got a shocking reputation at the moment but I also really rubbed it in). And how the f*** can they offer "decent money" to someone on £10k a week (who's idea of "good money" will therfore be pretty high)?

 

I have highlighted the operative word for you. OFFER . Not necessarily the same as PAY in that neck of the woods

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I have highlighted the operative word for you. OFFER . Not necessarily the same as PAY in that neck of the woods

 

Ah!! I see what you mean. "Offer" as in: I can offer Andrew Lloyd Webber a BJ, but it's not like he's ever gonna get one.

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-weighing-up-paynter-move-1-3869981

 

"Pompey are eyeing up a move for Leeds striker Billy Paynter.

 

The former Swindon man was put on the transfer list earlier this month.

Despite a year remaining on Paynter’s contract, Leeds boss Neil Warnock is believed to be open to letting him leave for nothing in a bid to remove him from the Elland Road wage bill.

The situation has alerted the Blues, with Michael Appleton seeking to rebuild his squad.

Pompey’s manager is eager to recruit 18 new players this summer. And with his proven scoring pedigree in League One, Paynter fits the bill."

 

Did I read that correctly....? 18?!

 

600full-carry-on-regardless-poster.jpg

 

When we played at Leeds I had the pleasure of sitting amongst the home fans. At times it was so difficult to keep quiet but that is another story.

 

When Billy Paynter came on as sub, the home fans sitting near me (think of Pompey fans with just a little bit more intelligence) went mental. To paraphrase what they were saying

 

He is not a very good footballer and they would be pleased if he did not play ever again for them!!

 

Seems perfect for Pompey then!!

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Ah!! I see what you mean. "Offer" as in: I can offer Andrew Lloyd Webber a BJ, but it's not like he's ever gonna get one.

 

Are you seriously suggesting there isn't a price at which you would fellate said musical maestro?

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Was on a stag recently with a Championship player I'd never met before but turned out to be a sound bloke. Currently on £10k a week & out of contract this summer wanted by the Skates and offered "good money" through his agent. Obviously I laughed when he told me this and reminded him how much he loves getting paid. Every month. On time. In full.

 

He ain't going there (Skates have got a shocking reputation at the moment but I also really rubbed it in). And how the f*** can they offer "decent money" to someone on £10k a week (who's idea of "good money" will therfore be pretty high)?

 

Sounds like that Billy Paynter.

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Are you seriously suggesting there isn't a price at which you would fellate said musical maestro?

 

A late night chat regarding this matter concluded in £500,000/£1,000,000 to complete the "job" (none of us were gay)

 

A squaddie mate of mine then walked in and declared £10,000 and i,ll do the lot of you. It is just a state of mind,won't kill you,and i get a new car.

 

God bless my mate Scottie,

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Was on a stag recently with a Championship player I'd never met before but turned out to be a sound bloke. Currently on £10k a week & out of contract this summer wanted by the Skates and offered "good money" through his agent. Obviously I laughed when he told me this and reminded him how much he loves getting paid. Every month. On time. In full.

 

He ain't going there (Skates have got a shocking reputation at the moment but I also really rubbed it in). And how the f*** can they offer "decent money" to someone on £10k a week (who's idea of "good money" will therfore be pretty high)?

 

Sounds like Brian Howard.

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A late night chat regarding this matter concluded in £500,000/£1,000,000 to complete the "job" (none of us were gay)

 

A squaddie mate of mine then walked in and declared £10,000 and i,ll do the lot of you. It is just a state of mind,won't kill you,and i get a new car.

 

God bless my mate Scottie,

 

It's posts like this that that make it a vital daily need to read ALL the posts since your last visit:scared::lol:

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IIRC he's still got a year left on his contract but Warnock is looking to shift him on a free.

Leeds will pay someone to take him off their hands...and might need to, or at least a percentage of his wages.

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lots of players without clubs.

 

Ergo, desperate players.

 

It's surely not an attractive proposition to join a club with a history of not paying on time, "requesting" wage deferrals, teetering on the brink of liquidation, facing a possible points deduction if they do survive, playing in a crap ground, with training facilities that are distincly non-league and so much uncertaintly about club ownership and team management in the immediate future.

 

And on top of that, you've got 'Appy telling you that you'll need to wait a bit before you can sign, but it will all be alright in the end, honest, and that you should reject offers from other clubs who are waving a pen under your nose.

 

Hmmm....

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Ergo, desperate players.

 

It's surely not an attractive proposition to join a club with a history of not paying on time, "requesting" wage deferrals, teetering on the brink of liquidation, facing a possible points deduction if they do survive, playing in a crap ground, with training facilities that are distincly non-league and so much uncertaintly about club ownership and team management in the immediate future.

And on top of that, you've got 'Appy telling you that you'll need to wait a bit before you can sign, but it will all be alright in the end, honest, and that you should reject offers from other clubs who are waving a pen under your nose.

 

Hmmm....

 

Yeah, but you get to play in front of the bestest fans in the whole wide world ™ !!

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Unless the FCR is overturned - with that issue still to be resolved players should now be thinking long and hard about whether a contract they're signing will be honoured.

 

And, of course, even £14m doesn't go far when you have 8 players on £20k+ a week.

Edited by Torres
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Makes no difference, the football League will pay the players directly, without the cash even going to Portsmouth. The rule change (if it happens) would only affect the players once the money was in Portsmouth's hands.

 

At the moment the rules state that the club MUST pay football creditors first, it doesn't say anything about the League paying them fro withheld prize money. The league will effectivly take the decision and action out of the clubs hands, meaning the law change would have no effect.

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Joey is right, as long as you have the magical signature of Storrie or Lampitt you will get every penny - at some point.

Presumably Birch will now be dishing out the never-never coupons and when the PPs run out it'll be down to one of the football authorities to fund the implosion.

 

Guesstimate time again -

 

Parachute payments were down to about half of the £14M via creditors and advances.

Deferred wages must have been running at £300K a month.

So the wagebill alone could wipe out the initial £14M completely by about October. :scared:

 

Based on 5,000 season tickets and 12K gates I reckon Chinny could take about £3M on the door before Christmas.

Chuck in £1M in TV and sponsorship and he could have £4M.

Over the same period he has £8M in wages to pay.

 

Presuming he uses the PPs to pay them he could have a £2M profit by Christmas.

 

But January will be a whole different ball game....the losses pop up again - it's a season of two halves!

 

So if he wants to sell, at the end of the year he could disguise the business to look nearly profitable, just gloss over debt repayments due - if the club is up the top of the table as well he might find a greater fool.

 

Sleeping giant, making money, Championship riches around the corner...

Though a points penalty would drive a bus through that plan. :?

 

If he doesn't sell (rent!) lets guess he offloads some players in January and reduces the wagebill a bit.

By June 2013 I reckon he would be running at a hefty loss AND out of external funding.

 

Without him putting in more money they can't start 2013/14.

 

All these guesses assume the debt will be left untouched.

 

 

Two things have remained constant through 1260 pages.

The only answer is fresh investment, not loans.

The figures don't stack up.

 

 

And the biggest factor of all, whether it is the Trust of Chinny trying to save a terminally insolvent business - every player must go, or take a massive paycut.

 

Without that change there is no future.

 

 

I cannot see how Birch will take on any players with the accounts in this state.

 

 

 

Likely scenario?

 

League buys their vague business plan next week and says Carry on Regardless.

Admin III coming to a cinema near you - and remember to do the polite thing and look surprised when it happens.

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We know the figures do not add up.

 

We know the wage bill continues to be astronomical during the summer with no income.

 

We know they are trying to sell the club.

 

The BARRIER to all of that is the FL Meeting.

 

Now taking that into consideration to get past the FL Meeting they need "a plan". They need "positive movement on finding a buyer". They need some "positive spin"

 

After all if the High Court could fall for a Spin, so could the FL

 

Now look back at what has been happening in the media the past week or so.

 

There is no logic financial or otherwise for Chinny to buy the club WITH the current wage bill. They won't leave voluntarily, so the simple maths do not add up.

 

HMRC will be pretty aggressive IF they decide to struggle on and have NOT shown a cash flow forecast that actually PAYS them this time - one week delay and WUO instantly is my guess.

 

So are we seeing actually PROGRESS?

 

Or are we seeing Spin designed to support a Hail Mary pass to the FL to give TB an extra month to TRY and flog a dead horse?

 

Starting to think that financial logic indicates the latter is what is happening

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Without him putting in more money they can't start 2013/14.

 

All these guesses assume the debt will be left untouched.

 

 

Two things have remained constant through 1260 pages.

The only answer is fresh investment, not loans.

The figures don't stack up.

 

League buys their vague business plan next week and says Carry on Regardless.

Admin III coming to a cinema near you - and remember to do the polite thing and look surprised when it happens.

 

The skates are squabbling over the figures and how they can stack them up...

 

Gone are the days of them hailing Birch and celebrating getting rid of chainrai and andronikou... their stranglehold has never been strong.

 

Absolutely, they have not said that that they will liquidate the club after 3 years. They have (Deepak has been quoted as saying) said that they intend to get their £18m back (plus, I suppose, further interest) and get out in 3 years. The conjecture, following this, is that if they do that, the club will again be a worthless hulk with the probable conclusion leading to liquidation.

 

(psst... its been a worthless hulk for over a decade at least, do try to keep up)

 

you are missing the point again.....

 

if the trust are stating that it will take 3 years to get the club into a position were it is living within its means (therefore stating that it will run at a loss until that time) i bemused how posters are thinking that they will be able to extract £18m in that period.....cause the maths dont work.....

 

bas is right, the math dont work... its going to be a big effort by Chinny to get his money back; 10yr CVA MKII, bare bones squad, limited tea bags and hot water (inc fat), no pack the park discounts, tax deferals, raping charities, Cortese tax, training on the common... its going to be a rough ride but Balu WILL get his money back.

 

Bring it on!

 

Sces.jpg

 

 

 

Ive been banging on about it for a long time now, but there is only one clear solution for the skates... Plan B, Moneyfields in the Wessex

 

1278190_db57cfd3.jpg

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Makes no difference, the football League will pay the players directly, without the cash even going to Portsmouth. The rule change (if it happens) would only affect the players once the money was in Portsmouth's hands.

 

At the moment the rules state that the club MUST pay football creditors first, it doesn't say anything about the League paying them fro withheld prize money. The league will effectivly take the decision and action out of the clubs hands, meaning the law change would have no effect.

I don't think any of that is right. First, and although it makes no difference, the payments in question here are from the PL, not the FL.

 

More importantly, the PL rules, as they stand at the moment, certainly do say that if any club is behind with payments to football creditors, the PL will withhold payment due to the club and pay the football creditors directly. It's in Section C., around 60 and upwards from memory.

 

As I understand it, that is exactly the point of the recent case. HMRC's argument is that it is unjust that, due to a "Gentlemen's agreement" from a private member's club, some creditor's are paid in full from money that should otherwise come to the Company to be distributed among all the creditors in accordance with insolvency law.

 

I think what HMRC are looking for is, in case of an insolvency, all the parachute payment money due to a club will be handed over to the administrator or liquidator to be distributed fairly in accordance with the law of the land.

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I don't think any of that is right. First, and although it makes no difference, the payments in question here are from the PL, not the FL.

 

More importantly, the PL rules, as they stand at the moment, certainly do say that if any club is behind with payments to football creditors, the PL will withhold payment due to the club and pay the football creditors directly. It's in Section C., around 60 and upwards from memory.

 

As I understand it, that is exactly the point of the recent case. HMRC's argument is that it is unjust that, due to a "Gentlemen's agreement" from a private member's club, some creditor's are paid in full from money that should otherwise come to the Company to be distributed among all the creditors in accordance with insolvency law.

 

I think what HMRC are looking for is, in case of an insolvency, all the parachute payment money due to a club will be handed over to the administrator or liquidator to be distributed fairly in accordance with the law of the land.

 

I presume only what they would be entitled to in the financial/football year mind and in the event of liquidation the remianing would be redistributed? - This is where it gets complex, as a relegated club could risk 48mil in the NPC on promotion, if it fails and they go into admin, collect the remainder and avoid liquidation?

 

Ironically, if what you suggest is possible, HMRC winning could have been Pompeys salvation - were they given 14mil now, chinneys share woudl have been about 6mil... which he would just have had to accept or take what he was due form a liquidation sale... but at least what was left would have been rid of chinney...although ont sure how his charge on the 'stadium' (if it can be classed as such) fits into that.... and the surrounding land is still owned by the child maimer... Jeez my brain cant cope with the speculative permutations... comedy gold for sure, if what they have dones was not so utterly dispicable.

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there is no way the FL will give them a points penalty in the position they are in. It would almost certainly mean the club goes pop, although Bc would be in a difficult position if he wants his money back. TB will be telling the league that BC will not take over if there is a points penalty and we know how toothless they are now Malwhinney has gone.

I can't see how they are going to wriggle out of the high contracts , and that is the big thing that AA or TB have been unable to do amongst all the other sidestepping.

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@pn_neil_allen: Appleton in no rush to sign duo. http://t.co/dYLq1RvJ #Pompey

 

POMPEY have put any potential moves for ex-triallists Gabor Gyepes and Tom Williams on hold.

 

The free agents spent the final six weeks of the season training with Pompey trying to catch the eye.

 

For Michael Appleton it was an opportunity to assess their talents from close range as he prepared for the possibility of life in League One.

 

The Blues boss has not ruled out bringing in the duo, who were both left without clubs from the middle of last season.

 

But for the time being, Appleton insists he is pursuing other targets.

 

He is attempting to bring in up to 18 new players.

 

The Pompey boss said: ‘With Gabor, I have not had any contact with him since the end of the season.

 

‘But I don’t expect to make any contact with either of them until the start of pre-season.

 

‘I’m thinking about rebuilding the squad to take the club forwards for a couple of years and there are other options I will look at during the summer.

 

‘I won’t be pursuing the two lads before pre-season.

 

‘I am in no rush. I have got a lot of other things I need to concentrate on and work towards at the moment.

Edited by trousers
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@pn_neil_allen: Appleton in no rush to sign duo. http://t.co/dYLq1RvJ #Pompey

 

POMPEY have put any potential moves for ex-triallists Gabor Gyepes and Tom Williams on hold.

 

The free agents spent the final six weeks of the season training with Pompey trying to catch the eye.

 

For Michael Appleton it was an opportunity to assess their talents from close range as he prepared for the possibility of life in League One.

 

The Blues boss has not ruled out bringing in the duo, who were both left without clubs from the middle of last season.

 

But for the time being, Appleton insists he is pursuing other targets.

 

He is attempting to bring in up to 18 new players.

 

The Pompey boss said: ‘With Gabor, I have not had any contact with him since the end of the season.

 

‘But I don’t expect to make any contact with either of them until the start of pre-season.

 

‘I’m thinking about rebuilding the squad to take the club forwards for a couple of years and there are other options I will look at during the summer.

 

‘I won’t be pursuing the two lads before pre-season.

 

‘I am in no rush. I have got a lot of other things I need to concentrate on and work towards at the moment.

 

Nothing to do with their inability to sign anyone due to the transfer embargo then???

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there is no way the FL will give them a points penalty in the position they are in. It would almost certainly mean the club goes pop, although Bc would be in a difficult position if he wants his money back. TB will be telling the league that BC will not take over if there is a points penalty and we know how toothless they are now Malwhinney has gone.

I can't see how they are going to wriggle out of the high contracts , and that is the big thing that AA or TB have been unable to do amongst all the other sidestepping.

 

They will get a points deduction.

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They are playing a glamour home friendly on 4th August. I'm sure their best fans in the world will be flocking to Fratton for the visit of high-flying Bolton.

 

Likely to be their only home friendly according to Solent on twitter.

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I hope your confidence in this proves to be correct.

 

Me too, but I am convinced there is no other option. There was also a telling comment on the trust web cast, where they said they were in discussions with the FL over this issue. The only way there won't be a deduction is if it is not on the agenda. The fact that the trust are in "talks" over them, means it is on the agenda.

 

Also I bet the FL would like to stutch chinny up a bit after all the grief he has caused them and the reality is , the lower the league they are in, the lower their cost base will become and eaiser for them to survive / live within their means.

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Ergo, desperate players.

 

It's surely not an attractive proposition to join a club with a history of not paying on time, "requesting" wage deferrals, teetering on the brink of liquidation, facing a possible points deduction if they do survive, playing in a crap ground, with training facilities that are distincly non-league and so much uncertaintly about club ownership and team management in the immediate future.

 

And on top of that, you've got 'Appy telling you that you'll need to wait a bit before you can sign, but it will all be alright in the end, honest, and that you should reject offers from other clubs who are waving a pen under your nose.

 

Hmmm....

all is true but aren't football contracts covered by the FA or PFA? So once you get a contract signed you know you will paid at some point by someone. That has to be better than no club at all.

 

Edit: I see that was answered before. They won't have a problem finding players.

Edited by Chez
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Me too, but I am convinced there is no other option. There was also a telling comment on the trust web cast, where they said they were in discussions with the FL over this issue. The only way there won't be a deduction is if it is not on the agenda. The fact that the trust are in "talks" over them, means it is on the agenda.

 

Also I bet the FL would like to stutch chinny up a bit after all the grief he has caused them and the reality is , the lower the league they are in, the lower their cost base will become and eaiser for them to survive / live within their means.

 

This is another glaring example of how the trust continue to mislead their supporters/members...

 

They constantly lie and bleat about pledges, deny plan B/moneyfields, deny points penalties, deny chinnys rock solid secured and preferential status...

 

The delusion is there for all to see, the stench of denial is rife.

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Re the points deduction.....

 

 

Who actually makes the decsion? Is it a small executive group, or a big meeting of lots of other clubs' chairmen? Because if it is the latter , I can't see Leeds and the like having much sympathy after the punishments they got. And of course if you are the chairman of a L1 club that is a bit worried abut relegation, having one of you rivals start the season on -15 points wouldn't be a bad thing

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the Trust assured a meeting that the FL will bend over backwards to help the club survive, 'the FL are not in the business of seeing members go to the wall'...

 

We are still to see how far they will go to help.

Sporting sanctions cannot be be dependant on the state of the business - if offences have been committed, punishment will follow.

 

I'd like to think that the days of AA threatening a court or football authority that if they aren't let off they will go pop, are behind us.

 

A modest points penalty wouldn't financially damage the business to a great extent - unless they intend to build a promotion bonfire out of creditors' corpses.

Mounting another spending spree on the foundations of theft from charity and small business wouldn't look good.

 

I'm sure all those tax office jobs are safe - have they made the connection yet?

That must have been a fun day at HMRC - where shall we close an office?.....mmmm, let's see....

 

 

 

It maybe time for plucky little bestest pompey to shut up, keep a low profile, and accept that settling in League One is better than getting treated as other clubs have been.

 

And if they do start wittering on about a level playing field again, the FL should present them with the P!sstaking Club of the Year - and the accompanying minus 35pts.

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This is another glaring example of how the trust continue to mislead their supporters/members...

 

They constantly lie and bleat about pledges, deny plan B/moneyfields, deny points penalties, deny chinnys rock solid secured and preferential status...

 

The delusion is there for all to see, the stench of denial is rife.

 

I'm with you on this one HP. The trust guys that post on forums - simply won't respond to ay questions on this issue - Try the news and any thread where oldred eye posts, or fans online and the riddle.

 

May be they think that they will lose pledges if people think there is a chance of a points deduction and by default relegation.

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Re the points deduction.....

 

 

Who actually makes the decsion? Is it a small executive group, or a big meeting of lots of other clubs' chairmen? Because if it is the latter , I can't see Leeds and the like having much sympathy after the punishments they got. And of course if you are the chairman of a L1 club that is a bit worried abut relegation, having one of you rivals start the season on -15 points wouldn't be a bad thing

That's how I see it. The Football League is not an independent body, it is made up of the clubs within it and there must be many who would sit a lot easier if -15 were awarded, always providing it didn't set a precedent that mighty affect them, of course. I see that Luton missed out on promotion again. How much longer in the wilderness for them? Yes, I know they're not Football League any more. I also don't see that -15 would threaten the existence of the club. There are plenty of 'big' clubs who have ended up in the fourth division.

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