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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Fowllyd

Fowllyd

Posted
Posted
Trevor Birch is on record as saying the decision had to be made mid-week, which presumably means tomorrow (Wednesday) if not today.

But there again, he has cried Wolf a couple of times now so the novelty is wearing off

 

True, but this time there's an externally imposed deadline to consider - the Football League's date to hand over (or not) the golden share.

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patred44

patred44

Posted
Posted

we could use their demise as the Olympic closing ceremony..

 

Demolishing Fratton Park live on TV

 

the bulldozzing.. It would be more symbolic of closure

We could have Dinege commentating as a large LIEBHEER CRANE SWINGS THE DEMOLITION BALL.

 

It could include shots of John Westwood and Harry Redknapp crying, that would be a nice touch..

 

 

the whole world could join in the celebrations.. Would be lovely, fireworks, all linking arms singing Auld lang syne.

 

 

 

Danny Boyle, who needs him :lol:

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Waterside.saint

Waterside.saint

Posted
Posted
we could use their demise as the Olympic closing ceremony..

 

Demolishing Fratton Park live on TV

 

the bulldozzing.. It would be more symbolic of closure

We could have Dinege commentating as a large LIEBHEER CRANE SWINGS THE DEMOLITION BALL.

 

It could include shots of John Westwood and Harry Redknapp crying, that would be a nice touch..

 

 

the whole world could join in the celebrations.. Would be lovely, fireworks, all linking arms singing Auld lang syne.

 

 

 

Danny Boyle, who needs him :lol:

I'd love to know how Westwood plans to explain those awful tattoos after they've been wound up:

-Hey what's that mess you've got all over you?

-Oh I had a bizzarre accident with a bottle of ink and a rabid porcupine

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badgerx16

badgerx16

Posted
Posted
70,000 posts.

 

Jesus f*cking christ.

 

If kismet is truly bestowed upon the Isle of Portsea on Fiday then we may get most of the way remaining to 100K in one day. Does anybody know what the Olympic record is for posts on an Internet forum in one day ?

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Lazlo78

Lazlo78

Posted
Posted
Hotting up nicely..

 

http://tinyurl.com/croz6n3

 

"The likes of Greg Halford, David Norris, Erik Huseklepp and Dave Kitson have sacrificed money owed to them by leaving Pompey in recent weeks. And Birch also pointed to the local businesses and non-football creditors who have effectively written off the debts to try to keep Pompey afloat.

 

He said: ‘Many of his (Ben Haim’s) former team-mates were in the same situation, yet made big sacrifices and showed the club is more important than any individual.

 

‘Many non-football creditors, some small local businesses, have also told me that they’d be willing to take a personal financial hit in order to keep the club going."

 

What a travesty. So when the clubs creditors are forced into the most scrappy CVA ever, they are also being used to showcase how much they love the club and want to fight for it?

 

Please, this is sickening...

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Matthew Le God

Matthew Le God

Posted
Posted (edited)
Portapin takeover deal all but completed is the rumour I'm hearing.

 

If true, this thread still has a long way to go as Chainrai milks the club for every penny he can get his hands on over the next few years. Mr Appleton won't be getting the budget he thinks he deserves to be "competitive" any time soon. If we think the national budget is austerity, wait till Appleton sees what Chainrai gives him!

Edited by Matthew Le God
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dronskisaint

dronskisaint

Posted
Posted
we could use their demise as the Olympic closing ceremony..

 

Demolishing Fratton Park live on TV

 

the bulldozzing.. It would be more symbolic of closure

We could have Dinege commentating as a large LIEBHEER CRANE SWINGS THE DEMOLITION BALL.

 

It could include shots of John Westwood and Harry Redknapp crying, that would be a nice touch..

 

 

the whole world could join in the celebrations.. Would be lovely, fireworks, all linking arms singing Auld lang syne.

 

 

 

Danny Boyle, who needs him :lol:

 

More poetry, more poetry...that is music to my ears indeed...the Liebherr crane is your industrial revolution moment!

 

And we could wheel out McCartney to croak 'Back in the USSR', ...'Penny Shame', 'Money', 'Taxman'...haven't got time to add more but feel free!

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FarehamRed

FarehamRed

Posted
Posted
If true, there is still a lot of legs left in this thread as Chainrai milks the club for every penny he can get his hands on over the next few years. Mr Appleton won't be getting the budget he thinks he deserves to be "competitive" any time soon. If we think the national budget is austerity, wait till Appleton sees what Chainrai gives him!

 

Since when has not having a budget effected their transfer activity? As far as I can tell, they'll look at this as the green light to spend another £30million - unless the FL finally grows some balls.

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trousers

trousers

Posted
Posted
If true, this thread still has a long way to go as Chainrai milks the club for every penny he can get his hands on over the next few years. Mr Appleton won't be getting the budget he thinks he deserves to be "competitive" any time soon. If we think the national budget is austerity, wait till Appleton sees what Chainrai gives him!

 

Or.....Chainrai goes for the full circle option..... he takes over....ploughs MORE money into the club to try and get them back-to-back promotions (yes, I know, ridiculous in the extreme but bear with me momentarily).... gets them back to the premier league on more leveraged funds.....pockets the premier league membership money.....THEN disappears off into the sunset leaving another trail of inflated contracts, another tainted FA Cup win and yet more debt in his wake.....

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angelman

angelman

Posted
Posted

The FL are being very spineless. There are 11 days to go to the first league game. Poopey have 1 senior player. and as we know they seem to refuse to use anything but senior players. So 11 days to sort out their **** and sign a whole new squad. The FL should turn around to them and demand to know whether they will be in a position to start the season. If they cannot give a definite "yes" (which they can't), then they should drop down to the bottom of the league and let someone else take their place.

 

What happens if we get to next week, a week before the season starts, and they say they can't fulfil their commitments? Too late to reschedule everything and get another team in to replace them.

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trousers

trousers

Posted
Posted
thank heavens they tightened the FPPT then Lol

 

In all seriousness, I assume the Pompey fans will be writing in their hundreds, nay thousands, to the Football League to insist that Chainrai's financial affairs are investigated thoroughly? They wouldn't want to be accused of being wise after the event yet again (when Admin 3 comes along) would they?

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The Kraken

The Kraken

Posted
Posted
Since when has not having a budget effected their transfer activity? As far as I can tell, they'll look at this as the green light to spend another £30million - unless the FL finally grows some balls.

They need to actually have some money in order to be able to spend it. They don't have anything. The bank account will be pretty much empty; season ticket money getting released on a match by match basis. And an owner who will have lost millions of pounds off the value of what he is claimed he is owed. Getting the high wage earners off the books is the first step in Chainrai running the club on a shoestring, plundering the parachute payments and spending only the very bare minimum for transfers (free) and wages.

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buctootim

buctootim

Posted
Posted
Or.....Chainrai goes for the full circle option..... he takes over....ploughs MORE money into the club to try and get them back-to-back promotions (yes, I know, ridiculous in the extreme but bear with me momentarily).... gets them back to the premier league on more leveraged funds.....pockets the premier league membership money.....THEN disappears off into the sunset leaving another trail of inflated contracts, another tainted FA Cup win and yet more debt in his wake.....

 

That thought has crossed my mind too. Not sure he would bankroll them all the way to the PL - but enough to get them into mid table championship and marketable as a PL club in the making, ots a definite option for him.

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Fowllyd

Fowllyd

Posted
Posted
The FL are being very spineless. There are 11 days to go to the first league game. Poopey have 1 senior player. and as we know they seem to refuse to use anything but senior players. So 11 days to sort out their **** and sign a whole new squad. The FL should turn around to them and demand to know whether they will be in a position to start the season. If they cannot give a definite "yes" (which they can't), then they should drop down to the bottom of the league and let someone else take their place.

 

What happens if we get to next week, a week before the season starts, and they say they can't fulfil their commitments? Too late to reschedule everything and get another team in to replace them.

 

It's already too late to reschedule everything; in fact, it has been for quite some time. If the League refuse to hand over the golden share they will have to run League One with 23 teams. And, if the League aren't satisfied that their conditions have been met, and that Pompey will be able to complete their fixtures, then they will indeed withhold the golden share. In other words, the League are doing pretty much exactly as you'd wish them to do.

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andysstuff

andysstuff

Posted
Posted
It's already too late to reschedule everything; in fact, it has been for quite some time. If the League refuse to hand over the golden share they will have to run League One with 23 teams. And, if the League aren't satisfied that their conditions have been met, and that Pompey will be able to complete their fixtures, then they will indeed withhold the golden share. In other words, the League are doing pretty much exactly as you'd wish them to do.

 

Got to agree wholeheartedly with this. FL have been very quiet since the ten point penalty as handed out. I have a sneaky feeling in my water that we haven't heard the last of them yet.

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Doctoroncall

Doctoroncall

Posted
Posted
They need to actually have some money in order to be able to spend it. They don't have anything. The bank account will be pretty much empty; season ticket money getting released on a match by match basis. And an owner who will have lost millions of pounds off the value of what he is claimed he is owed. Getting the high wage earners off the books is the first step in Chainrai running the club on a shoestring, plundering the parachute payments and spending only the very bare minimum for transfers (free) and wages.

 

I think the big test is to see LL leave rather than the rumoured negotiating a new contract, the standard of players coming in and whether the FL standby their commitment of financial restrictions.

 

Also if Chainrai sets up another company to transfer the ground, then that would be a clear indication he's syphoning off the money, however, nothing has happened yet so it's still not clear what Chainrai game plan is.

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OldNick

OldNick

Posted
Posted
I think the big test is to see LL leave rather than the rumoured negotiating a new contract, the standard of players coming in and whether the FL standby their commitment of financial restrictions.

 

Also if Chainrai sets up another company to transfer the ground, then that would be a clear indication he's syphoning off the money, however, nothing has happened yet so it's still not clear what Chainrai game plan is.

AA being TBH's rep is also a bit odd. There are so many unanswered questions, why be surprised when it has to do with them i suppose.
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Fowllyd

Fowllyd

Posted
Posted
Or.....Chainrai goes for the full circle option..... he takes over....ploughs MORE money into the club to try and get them back-to-back promotions (yes, I know, ridiculous in the extreme but bear with me momentarily).... gets them back to the premier league on more leveraged funds.....pockets the premier league membership money.....THEN disappears off into the sunset leaving another trail of inflated contracts, another tainted FA Cup win and yet more debt in his wake.....

 

That thought has crossed my mind too. Not sure he would bankroll them all the way to the PL - but enough to get them into mid table championship and marketable as a PL club in the making, ots a definite option for him.

 

I really can't see this happening. It's clear that Chainrai is only interested in getting as much money as he can out of Pompey; he'll know full well that trying to up the price by funding a charge up the league would be a long and risky process. They start next season on -10, which will be nigh impossible to overcome; so that means at least two seasons in League One. He'd be very likely to spend far more than he'd have any chance of getting back, and he's not going to do that.

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SO5 4BW

SO5 4BW

Posted
Posted
Word on the street is that it's this Friday, the 10th August. Which just happens to be the day I chose in the sweepstake - and also the day I get married... :)
Now the demise of the skates really would be the icing on the cake - and would certainly help to make up for having to move to a PO post code! ;)
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buctootim

buctootim

Posted
Posted
AA being TBH's rep is also a bit odd. There are so many unanswered questions, why be surprised when it has to do with them i suppose.

 

Very clever move by TBH imo. AA is a slimeball with no ethics who knows where the bodies are buried. Who better to fight your corner?

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eurosaint

eurosaint

Posted
Posted

My bet is that Chinny will linger long enough to get his dirty mitts on the PP's and then (miraculously!) come up with a new found saviour from the underworld of eastern Europe or Asia !

It is part of his modus operandi and if next time he manages to get his dosh out before they go t!ts up then he'll be on his bike quicker than Bradley Wiggins !

No doubt the plucky few will be naive enough to expect him to become philanthropic all of a sudden but, for us, the fun and frolics will continue apace as we head gallantly towards post no. 100,000 !!

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badgerx16

badgerx16

Posted
Posted (edited)
There are 11 days to go to the first league game.

 

Don't forget they need to have sufficient first team players to field a squad of at least 14 for the 14th when their League Cup game is due to be played - failure will attract sanctions in accordance with FL rules.

Edited by badgerx16
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Torres

Torres

Posted
Posted (edited)
The Chief Executive has written to the Premier League to gain assurance that the Premier League would consent to the 2013/14 parachute payments being assigned to the City Council in order to repay the loan (this letter is attached at Appendix 1). The Premier League (PL) has responded that it is not in a position, currently, to provide any such assurance. This is because the PL considers that it can deal only with the Club and at this time, Mr Trevor Birch, the Administrator, represents the Club. Without his consent, the PL says that they cannot discuss or disclose confidential matters.

 

And it never will either - it would critically undermine their very own FCR.

 

Plus, Birch cannot allow the PCC to deal direct with the PL while he is the Administrator because it would critically undermine his own position.

 

Whoops.

 

Reading on:

 

5.6 The PL further considers that it cannot give an answer on the possible assignment because it is too early. It could only do that now if it was the Club (Trevor Birch) seeking to do an assignment. As it is not, the PL must bear in mind that Mr. Birch could, if he wished, seek to assign future parachute payments between now and any exit from Administration. Such an assignment, if approved, could render any theoretical assignment by a possible future owner of the club impossible.

5.7 In response to the Chief Executive‟s letter, the PL legal adviser has seen Mr. Birch and he has confirmed to the PL that he does not consent. What he does say, however, is that the Trust and other interested parties should communicate with him.

The Chief Executive considers that, notwithstanding Pompey‟s current plight, there remains significant funding within the „football family‟ without recourse to scarce public funds. Whilst a charge on Fratton Park gives some security, the City Council would have to sell the ground to recoup its funding and were the City Council to consider providing a loan to the PST, it remains in the City Council‟s interests to secure an assignment of the parachute payments in order to reduce the risk to public funds. He has responded to the PL and will endeavour to obtain a robust position from the PL and Mr Birch on this matter prior to the Council meeting.

 

Double whoops.

Edited by Torres
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Torres

Torres

Posted
Posted
Share scheme – PST are assuming that on average each pledge amounts to £100 and therefore 1,670 pledges have been made. NB - to secure the £1.5m a 90% conversion rate of pledges to shares of £1,000 would need to be achieved.

 

:lol: :lol:

 

Call the undertaker. This bid is dead.

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Gruffalo

Gruffalo

Posted
Posted
In the event that the Club defaults on any loan provided then the City Council would be left with a loan that will need to be repaid but without any income stream to repay it. In these circumstances, the City Council would need to make equivalent savings from core City Council services to fund the repayment..

 

That, on its own, should trigger alarm bells throughout the schools, hospitals, taxpayers and critical services within the council's catchment area.

 

Bearing in mind the council has already stated that savings of £56m need to be made, never could there have been a worse time for a bunch of hopefuls to be waving a begging bowl at Town Hall.

 

Wildly optimistic cash projections, huge under-estimations of likely spend (ie £30k per annum 'maintenance' on Fra**on Park) and absolutely zero contingencies all point to one inescapable conclusion - the Trust is dead..

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70's Mike

70's Mike

Posted
Posted
Or.....Chainrai goes for the full circle option..... he takes over....ploughs MORE money into the club to try and get them back-to-back promotions (yes, I know, ridiculous in the extreme but bear with me momentarily).... gets them back to the premier league on more leveraged funds.....pockets the premier league membership money.....THEN disappears off into the sunset leaving another trail of inflated contracts, another tainted FA Cup win and yet more debt in his wake.....

 

no one has ever ploughed money into the club other than the creditors who lost there money

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