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Pompey Takeover Saga


Fitzhugh Fella

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Pompey in trouble

Portsmouth’s battle this summer to avoid liquidation will draw fresh attention to the scandalous transfer that highlights the serial mismanagement of the troubled club.

 

Pompey were already on their knees financially when it was somehow agreed by then chief executive Peter Storrie, on transfer deadline day at the end of August 2009, to pay Israel defender Tal Ben Haim a basic £8m over four years plus image rights. Ben Haim, whose agent is Pini Zahavi, has turned down an offer of £350,000 to leave the stricken Fratton Park club with a League One season remaining on his ludicrous deal.

 

 

http://www.dailymail.co.uk/sport/article-2152412/Avram-Grant-join-England-squad-Auschwitz--Charles-Sale.html#ixzz1wQyAo4P3

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and let's not forget that any unsustainable signing they made wasn't an unfortunate misjudgement, these signings were completed to beat off competition from other clubs.

 

They outbid rivals to prevent them from getting players.

They paid over the top to gain a sporting advantage.

 

Signings like Ben Haim were not unfortunate errors, there was a deliberate policy to gain an advantage in an underhand way, a form of cheating that could have been put down as a mistake, until it was repeated.

 

And that's why they deserve punishment not sympathy.

 

 

Poor plucky pompey with their greedy players is actually greedy underhand pompey trying to get Bristol City or Millwall relegated instead by giving contracts they could never pay.

Any fan who cheered Norris, Kitson, Lawrence or Varney and didn't question the funding has to take it on the chin.

 

The carcass wasn't savaged by the nasty league or the world recession, it was self-harming all along.

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Interesting to read a few of the posts this morning and there seems to be a tilt that many now are coming to terms that Pompey have indeed got away with it. The FL/FA and authorities seem to be all in the old boys club and just say to Pompey 'never mind old chap, you are a bit of a scallywag but carry on'

How about a poll, Have/will Pompey got away with it

It's not just the League though, all the other clubs have a big say in what will happen.

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Interesting to read a few of the posts this morning and there seems to be a tilt that many now are coming to terms that Pompey have indeed got away with it. The FL/FA and authorities seem to be all in the old boys club and just say to Pompey 'never mind old chap, you are a bit of a scallywag but carry on'

How about a poll, Have/will Pompey got away with it

 

So far it's been a thoroughly enjoyable tale with them tumbling into League One. If an additional penalty is not forthcoming with the failure of CVA1 then I agree, they haven't been punished enough, but we are not there yet and the FL may surprise us.

 

At least the condition of the financies and infrastructure at club makes it highly unlikely promotion is on the cards soon.

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pompey in transfer policy U-turn shock!...how about this bombshell from financial guru Appy...

 

You have to be realistic, we have a budget which I am sticking to. :o

 

Finally, after years of painstaking investigation through the debris of two administrations, someone has spotted where it all went wrong.

Appy and his shrewd team of scientists from the University of Insolvency have discovered that pompey....spent more than they earned...:scared:

 

This startling confession should be enough to satisfy the league that the leopard has changed it's spots and that all fixtures can be completed - the future looks rosy.

No, not the manky jetsetting tax-avoiding mongrel that sh!t on the beach.

 

You don't know what the "budget" is yet.

 

He said that he had to be realistic in sticking to the budget. He didn't say that the budget itself was realistic...

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Really ?? How ??

 

They have all been very quiet so far

It's an AGM.

 

The Board will be lined up along the top table, and the CEO's or Administrators of the 72 clubs will be the "shareholders" voting on each resolution.

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It's an AGM.

 

The Board will be lined up along the top table, and the CEO's or Administrators of the 72 clubs will be the "shareholders" voting on each resolution.

 

Fair enough, but they didn't do a lot when Pompeys debt was circa £140 Million, and it was clearly obvious even to Ken Dodds Accountant that they were trading INSOLVENT .......... so what makes you think that they will act when the debt is only a paltry £50 Million (circa)

 

Don't forget, Portsmouth has a long Naval history. When the UK had a Navy, Pompey's Naval base was always filled with discharged semen. Someone at the FA/FL is still trying to keep them Top of the Pile

 

Doesn't always work though. The Romans ruled most of the known world 2000 years ago. Now WE go to their villas for holidays

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Fair enough, but they didn't do a lot when Pompeys debt was circa £140 Million, and it was clearly obvious even to Ken Dodds Accountant that they were trading INSOLVENT .......... so what makes you think that they will act when the debt is only a paltry £50 Million (circa)

 

Don't forget, Portsmouth has a long Naval history. When the UK had a Navy, Pompey's Naval base was always filled with discharged semen. Someone at the FA/FL is still trying to keep them Top of the Pile

 

Doesn't always work though. The Romans ruled most of the known world 2000 years ago. Now WE go to their villas for holidays

 

The clubs in League 1 (and 2) operate on totally different budgets to the Premier League and even the Championship so I would expect there to be some very strong 'reminders' to the Football League Board about having an unfair advantage, level playing field, integrity of the competition, all that sort of thing. The point is that the Footbal League operates on behalf of its members, it is not an independent body.

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The clubs in League 1 (and 2) operate on totally different budgets to the Premier League and even the Championship so I would expect there to be some very strong 'reminders' to the Football League Board about having an unfair advantage, level playing field, integrity of the competition, all that sort of thing. The point is that the Footbal League operates on behalf of its members, it is not an independent body.

 

OK, thanks for that. It's a pity the likes of Luton and Darlington cannot "remind" the FL what they did to them

 

Bournemouth can though

 

In Pompeys case it certainly time for a great many chickens to come home to roost

 

It is wrong for a poor Businessman to go to the wall for being owed a few thousand pounds by the Skates, when the so called Skate "Business" is allowed to rack up (1st time) circa £140 Million, and (2nd time) circa £50 Million

 

AND STILL BE ALLOWED TO TRADE

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OK, thanks for that. It's a pity the likes of Luton and Darlington cannot "remind" the FL what they did to them

 

Bournemouth can though

 

In Pompeys case it certainly time for a great many chickens to come home to roost

 

It is wrong for a poor Businessman to go to the wall for being owed a few thousand pounds by the Skates, when the so called Skate "Business" is allowed to rack up (1st time) circa £140 Million, and (2nd time) circa £50 Million

 

AND STILL BE ALLOWED TO TRADE

My pleasure.

 

I have a competitor who has wound up his company at leat twice owing hundreds of thousands and he is still trading in the same business, offering 5-year warranties that are worth nothing.

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Sick of it now. Points deduction might be irrelevant, their future is fcked regardless, but as keeps getting pointed out, it's the principle of it, not to mention a deterrent to other clubs. How the hell can you not punish a club for paying nothing towards a CVA then agreeing a far better deal for themselves, having extended debt even further?

 

There are 2 outcomes for the FL to consider.

 

1) PFC are fcked, but the FL doesn't act and other clubs realise they can get away with the same

2) PFC are fcked, but the FL does act and this sort of cheating begins to get stamped out the game

 

 

3) PFC are fcked, but the FL doesn't act against them as their get out clause is their rules dont cover it... they then change their rules and close the loop hole to prevent this - as nearly always happens .... the pompey donkey has long since run to the hills before the FL even realised the stable door was left ajar...

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@pn_neil_allen: Appleton has solution to #Pompey goalkeeping conundrum. http://t.co/wC3729i0

 

I'll play! Okay, I may be the wrong side of 40 now, I'm only 5'8" and I'm not actually any good... but it's better than nothing.

 

And picking me would be the honourable thing, too - because if the Football League don't hit them with a big points penalty, then putting me in goal instead will have about the same effect ;)

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I feel sorry for the lesser paid footballers. Like the rest of us, not having any money go into the bank at the end of the month is cause for pain when money comes out at the start of the following month.

 

That said, it is a free market and they are entitled to go and work somewhere else. Perhaps the wages are a bit less, but at least you get paid on time.

 

Pretty bad timing I would suggest for the imminent FL AGM.

 

Shame.

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This is big news surely (though am wary of extrapolating from a single twitter comment).

 

If, with the protection that admin gives, they still cannot pay their running costs as they fall due, then there is no clearer indication that they are insolvent.

 

They are now racking up more debt - which is what admin is specifically designed to prevent - and therefore every day that passes makes the creditors' position worse.

 

Liquidate the DFCSBs.

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Not paying the players wages...means one of three things is about to happen.

 

1. The club isn't being financed anymore through the Admin process, so needs yet more of Baloo's money to continue until a takeover takes place.

2. The club isn't being financed anymore through the Admin process, so needs to be sold immediately.

3. The club isn't being financed anymore through the Admin process, so needs to be liquidated.

 

Meanwhile...

 

The Pompey Pages ‏@Pompey_Pages

The Daily Star are claiming Tal Ben-Haim wants £2m to tear up his contract, which still has a year remaining - the same amount he'll earn!

 

Surprised face.

Edited by gaz
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So two days before they have to convince the league that they can make it through the season financially... the players haven't been paid...

 

Sounds about right.

 

It started today and finishes tomorrow.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-administrator-confident-as-football-league-meeting-starts-1-3901641

 

So they haven't paid the wage bill on the very day they have to convince them they can make it financially! :D

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Not paying the players wages...means one of three things is about to happen.

 

1. The club isn't being financed anymore through the Admin process, so needs yet more of Baloo's money to continue until a takeover takes place.

2. The club isn't being financed anymore through the Admin process, so needs to be sold immediately.

3. The club isn't being financed anymore through the Admin process, so needs to be liquidated.

 

Meanwhile...

 

The Pompey Pages ‏@Pompey_Pages

The Daily Star are claiming Tal Ben-Haim wants £2m to tear up his contract, which still has a year remaining - the same amount he'll earn!

 

Surprised face.

 

Nice to see he is dedicated to the Pompey cause then! Instead of bleeding blue blood for pompey, he is bleeding them dry! ;) haha

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It started today and finishes tomorrow.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-administrator-confident-as-football-league-meeting-starts-1-3901641

 

So they haven't paid the wage bill on the very day they have to convince them they can make it financially! :D

 

Unfortunately I doubt the people in that meeting who need to know player/or players? Are not getting paid probably will have no idea.

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Whilst at the same time as not paying their players

 

Meanwhile, free agent Kelvin Etuhu has been offered a permanent two-year contract to stay. A new 12-month deal has been tabled to Marko Futacs on reduced terms, too.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-boss-calls-for-swift-conclusion-to-ownership-bid-1-3899724

Edited by pedg
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It started today and finishes tomorrow.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-administrator-confident-as-football-league-meeting-starts-1-3901641

 

So they haven't paid the wage bill on the very day they have to convince them they can make it financially! :D

why is the FL meeting in Portugal??? oh the gravy train, not a case of spending that money on grass roots
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Surely when administration is used to put a failing company back on track & the administrator is then responsible for loading more debt onto the company. Have we if these rumours are true about players not being payed, has this point not been reached? Time to do your job Birch put a stop to this farce shut the DFSCB's down.

It does seem to have some legs here, with the Pravda site's comment pages down.

But hey Appy carry on regardless go out look at players, offer deals you can't complete. In fact just carry on cheating as it appears that their is no one who has the balls to stop you.

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Pompey Online's reaction... http://www.pompeyonline.com/forums/index.php?threads/lewis-stockford.61017/

 

"What is sad about it exactly? He will get no sympathy from me."

"agreed - isnt he out of contract next month??"

"Have I missed something about this lad? He's probably only on a very low wage."

 

 

Bunch of geniuses.

not surprised at those comments. typical of the "f*ck everyone else,i'm ok " attitude shown by the DFCSB's

Edited by latter day saint
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