Jump to content

Pompey Takeover Saga


Fitzhugh Fella

Recommended Posts

@pn_neil_allen: The sun is shining, the birds are singing and #Pompey set to sign 10 players before Bournemouth match. A rare good news day! More later.

 

 

What the fuketyfuk ??? HOW !!

 

Also How are the FL allowing this to happen given the likleyhood of them not being able to fulfill their fixtures

Link to comment
Share on other sites

 

So this Skate can't understand the reasons why we have spent 3 years and nearly 1500 pages discussing the riches to rags saga down the other end of the M27?

 

Perhaps he ought to have a little look at this passage from the Guardian written by his fellow Skate Farmery to give him a little clue, as he is obviously short of the imagination required to provide an explanation:-

 

The reasons for Pompey's implosion in the last three years are varied and complex. It is not the boom-to-bust, riches-to-rags stereotype as is often portrayed. Instead there is intrigue and plot and a cast of characters fit for a John le Carré thriller.

 

Sons of alleged arms dealers, fake sheikhs, convicted fraudsters running the finances and invisible Arabs with no money have all populated a narrative it simply would not be possible to make up. The last Russian owner found himself arrested and facing extradition on embezzlement charges in Lithuania, which he denies.

 

There it is, summed up very succinctly in a nutshell.

 

The thread has all the twists and turns, intrigue and suspense of a crime/spy novel, but also the traits of the best soaps, with all the accompanying reasons for following them. There are characters who we have grown to love, or love to hate. At one time there is held up the prospect of them being owned by the type of mega-rich characters from South Fork or the Colby's and yet they end up nearing the inevitability of being carted away by Steptoe and Son.

 

It is like the addiction that a soap provides, where curiosity requires one to tune in the next night to see what happens next, but also like the good novel you can't put down because you need to know how it all ends. As has been said many times, it is the gift that keeps on giving.

 

Life at Pompey is but a stage and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages, to paraphrase the Bard.

 

Naturally, the one man playing many parts must refer to Chainrai, but also the Android and Storrie fit the bill well as supporting cast.

 

And just to nail the final hypocrisy in his parting shots, does he really believe for one second that if the same happened to us, they wouldn't have a similar thread, and that he wouldn't be a contributor?

Link to comment
Share on other sites

I guess the questions are:

 

Why have the FL imposed an "embargo" on them?

What are the conditions of this "embargo"?

What is required for it to be lifted?

 

The other questions are:

 

Are the currently holders of a FL Golden Share?

If not, how can they play on Saturday?

If they are, why have they not yet been deducted 10 points?

If the deduction will occur when they exit Admin, what's to stop them staying in Admin all season?

Link to comment
Share on other sites

Nutjobs get your rulebooks out

 

"Birch gives green light to sign 10 players on month long contracts" is the rumour on twitter.

They have found a way around the leagues rules yet again? I suspect many other clubs chairmen might be a tad unhappy with this. Also if they stay in admin does this mean the -10 is not applied. Perhaps BC has a plan
Link to comment
Share on other sites

I'm suspecting it'll be 10 players that other clubs in league one don't want.

 

Don't limit it to league one, these are players no any other semi-professional club or above appear to want.

Edited by pedg
Link to comment
Share on other sites

RESULT!

 

GET IN!

 

They are signing 10 players today on a one month contract WOO HOO!

 

C'mon gang just think about it. They are in Admin, they have no owner and no real prospect other than the trust.

 

The Trust have no money, but the club has SOME money.

 

They are just about to pump 10 players worth of that cash for a month. That means even LESS for the PST to use when they reallise teh U-18's are all they can actually afford.

 

 

Keep it Trevor. Spend more. Make sure you get Howard in - Get that 3mil cash down towards 500k as quickly as possible. You know you can do it and become yet another PTS hero!

 

We want MORE players signed NOW!

Link to comment
Share on other sites

So it seems that a few things will happen today:

 

* Portsmouth possibly sign 10 non-contract players to get around the embargo. Obviously they will be some of the triallists and other free agents so probably a rag-tag lot but I think we want to know the terms on which the FL has allowed them to sign these individuals.

* News is reporting the PST have until December to turn pledges into cash so they will definitely enter the new season in admin if FL and PKF allow it it. So no 10 point reduction yet either.

* Birch to get more fees if admin continues.

Edited by TopGun
Link to comment
Share on other sites

RESULT!

 

GET IN!

 

They are signing 10 players today on a one month contract WOO HOO!

 

C'mon gang just think about it. They are in Admin, they have no owner and no real prospect other than the trust.

 

The Trust have no money, but the club has SOME money.

 

They are just about to pump 10 players worth of that cash for a month. That means even LESS for the PST to use when they reallise teh U-18's are all they can actually afford.

 

 

Keep it Trevor. Spend more. Make sure you get Howard in - Get that 3mil cash down towards 500k as quickly as possible. You know you can do it and become yet another PTS hero!

 

We want MORE players signed NOW!

there is no way that TB will be allowing this unless there is some type of backer or hope of money coming in. TB is part of a large company and they will not be wishing to be seen as messing up. When they played the kids the other night, most people would have thought that at long last they are cutting their cloth accordingly. This new event must have motive and costing behind it.

I may be really wide of the mark but does it cost much more staying in Admin and funding the club through the backdoor and not getting the -10 and wait for any PP left,than to take the club on?

Iam sure there will be massive holes in this but thinking on the hoof i do wonder.

Link to comment
Share on other sites

To be fair (I know, I know) the embargo was in place until they got the high earners off the wage bill. They've now done that.

 

If the administrator wants to reduce creditor funds further by spending on wages that's his choice.

 

Afterall, he's only spending the money of one particularly dodgy secured creditor anyway!

Link to comment
Share on other sites

there is no way that TB will be allowing this unless there is some type of backer or hope of money coming in. TB is part of a large company and they will not be wishing to be seen as messing up. When they played the kids the other night, most people would have thought that at long last they are cutting their cloth accordingly. This new event must have motive and costing behind it.

I may be really wide of the mark but does it cost much more staying in Admin and funding the club through the backdoor and not getting the -10 and wait for any PP left,than to take the club on?

Iam sure there will be massive holes in this but thinking on the hoof i do wonder.

 

1) We know there is 3mil in the club (most likely ST money released on a game by game basis) - TB as you say will have worked out the maths (he will have been the first person to do a Cash Flow forecast for at least 5 years) that will cover the costs of his fees and the salaries.

2) We know the PP's have "vanished"but we do not know whether ALL the PP's have gone. TB is secured and this means that IF there had been any more left he has now agreed to spend them.

 

They are sustainable on a day to day basis. They are not a going concern medium term due to the CVA costs and the FCR/Payoffs to players.

It does give the Trust a chance to find some more cash - and collect their 75% :lol: pledges. But it also burns the little cash they had.

 

The reality is to survive and go down this season to be ready next year with battle hardened kids that could get them out of L2. Their DELUSION means they will burn funds to try and stay up

Link to comment
Share on other sites

Now that the trust bid is centre stage hopefully some journo will take a look at their bid and, taking into account the money committed to paying compromise agreements and the difficulty in quickly (or feasibly) renegotiating them, will come to the same conclusion as we have on here. That being it has more holes in it than a sign in texas saying "Shoot me".

Link to comment
Share on other sites

MP calls on administrator to work with fans’ group

 

 

Published on Thursday 16 August 2012 07:36

 

PORTSMOUTH North MP Penny Mordaunt says the Pompey Supporters’ Trust bid is the ‘only answer’ to ensure the club’s future.

 

Ms Mordaunt has been a staunch supporter of the trust since it launched its community share scheme in March.

 

She is calling on the administrators to work with the trust and save the club.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mp-calls-on-administrator-to-work-with-fans-group-1-4166562

 

Thought there was a FIFA ruling about Politicians keeping their noses out of football affairs!

Link to comment
Share on other sites

MP calls on administrator to work with fans’ group

 

 

Published on Thursday 16 August 2012 07:36

 

PORTSMOUTH North MP Penny Mordaunt says the Pompey Supporters’ Trust bid is the ‘only answer’ to ensure the club’s future.

 

Ms Mordaunt has been a staunch supporter of the trust since it launched its community share scheme in March.

 

She is calling on the administrators to work with the trust and save the club.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mp-calls-on-administrator-to-work-with-fans-group-1-4166562

 

Thought there was a FIFA ruling about Politicians keeping their noses out of football affairs!

 

If the trust is the only answer someone is obviously asking the wrong question.

Link to comment
Share on other sites

MP calls on administrator to work with fans’ group

 

 

Published on Thursday 16 August 2012 07:36

 

PORTSMOUTH North MP Penny Mordaunt says the Pompey Supporters’ Trust bid is the ‘only answer’ to ensure the club’s future.

 

Ms Mordaunt has been a staunch supporter of the trust since it launched its community share scheme in March.

 

She is calling on the administrators to work with the trust and save the club.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mp-calls-on-administrator-to-work-with-fans-group-1-4166562

 

Thought there was a FIFA ruling about Politicians keeping their noses out of football affairs!

 

This is just a barely veiled demand of little consequence that Birch keeps his bills down between now and December. He's going to have plenty to do and he isn't going to reduce his hourly fees. Porky Penny adding nothing to the issue but getting a bit more publicity.

Link to comment
Share on other sites

PKF, the players and Portpin all came to Pompey to make a lot of money. Time to wake up and smell the coffee. Money's gone. All that's left of Pompey is the fans, a fine young manager and some young braves preparing to do the football equivalent of the Charge of the Light Brigade.

 

Makes you feel sick, reading crap like that.

Link to comment
Share on other sites

Rate:

PST in it to win it

8:48 AM on 16/08/2012

On the PFA website there are currently almost 400 out of contract pros. How about we try and persuade the following to turn out on Saturday for free on a non-contract basis...

 

James

Sonko

Hreidarsson

Daio

Davis

Bouba-Diop

Cotteril (David not Steve!)

Webber

Fuller

 

Could they???? I mean could they be so bold???

Link to comment
Share on other sites

MP calls on administrator to work with fans’ group

 

 

Published on Thursday 16 August 2012 07:36

 

PORTSMOUTH North MP Penny Mordaunt says the Pompey Supporters’ Trust bid is the ‘only answer’ to ensure the club’s future.

 

Ms Mordaunt has been a staunch supporter of the trust since it launched its community share scheme in March.

 

She is calling on the administrators to work with the trust and save the club.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mp-calls-on-administrator-to-work-with-fans-group-1-4166562

 

Thought there was a FIFA ruling about Politicians keeping their noses out of football affairs!

 

I think FIFA mean politicians with real power rather than just a local one.

Link to comment
Share on other sites

I think it might have been Matt Scott from the Guardian on TS this morning.

 

He mentioned he thinks the PST have a short fall of about £6 million over the agreed pay off to players (something like that). Hence why he thinks they will go pop.

 

He's at the Telegraph now after the Guardian laid a bunch of staff off a while back.

 

From his twitter earlier (come on trousers, where are ya?)

 

Matt Scott ‏@diggermattscott

 

Telegraph today: Portsmouth Supporters' Trust rescue bid underfunded, putting Pompey on the brink of liquidation http://soc.li/21Jx1s

Link to comment
Share on other sites

Phil's right, if this is true about signings then nothing has changed, Birch has taken the sticky baton from Storrie and Lampitt and is running with it in the hope of sporting success.

He'll justify this by saying a League One club is easier to sell than a League Two...

Perhaps, but an MOT-failure Metro without a spare wheel is the same value as one with - we ain't talking Ferrari money here Trev.

All he's done is shuffled his garden bench on the lawn so it's closer to the sun.

 

 

For the potential new owners the current league position isn't a massive factor as they want to stabilise over several years - does he think the Trust will pull out if the club is in the bottom half of the table?

 

The playing squad is irrelevant, as are results.

Their aim should be to start the season, then break-even while seeking funding.

In the grand scheme it matters not a jot whether they beat Bournemouth or not - there is a much bigger picture, and if the administrator can't see that then there is a problem.

 

So the more money wasted on short term fixes to gain a sporting advantage over the likes of Crawley and Stevenage is damaging the few future.

Sign them up Trev!

If he offers enough contracts they will be spending cash faster than the Trust can get pledges. :o

 

 

After witnessing literally years of insolvent trading there was a part of me that said, they have finally cut their cloth, they are playing kids - they are not getting away with it, and behind all the abuse we dish out, you have to begrudgingly admit that they are at last doing the right thing.

 

IF they do sign players today, we will have to accept that after a decade of cheating, the brave new era of frugal spending and sensible accounting lasted exactly 95 minutes.

Future generations will remember that great time when they were financially sensible - that single night in Plymouth will be known as the austerity game.

 

 

 

And they wonder why we're so interested in them?

Putting aside the hilarious PR campaigns about battling plucky hero/villain players, young braves (!) and cartoon storylines that rewrite history as we go along, and ignoring the ridiculous portsea pub myths peddled by the thick to the even dimmer, and I know this is the most alien of concepts to them but ....they only have themselves to blame for our obsession.

 

 

Any normal club wouldn't have got into bed with loan sharks, arms dealers, people on the run from war crimes, the mafia, banned directors, potless arabs, money-launderers, people who don't even exist, or illegal football agents.

What is there not to be interested in?!

 

A proper club wouldn't have paid someone to drive their manager to a brothel, or ignored their own wagecaps and treated every greedy player as a loyal hero.

They wouldn't have boasted about hosting the World Cup at a fantasy sea-based stadium that required compulsory purchase of a billion quidsworth of harbourfront estate.

Call me a nutjob but yes, I am interested in undersea casino projects, and a cash-rich saviour from the midlands who sells leather jackets in the street, it amuses me.

 

This thread has been fuelled by the insane soap opera script and just when you think it can't get any madder, they launch a new cycle of overspending.

Yes, we are obsessed.

But it's the script writers at fortress fatpipes that have made us this way.

If they stopped doing crazy things we would stop watching - it's car crash telly, I can't help myself, and when someone chips in amid this chaos telling you that they are about to sign Riqueleme and Maradona is in town - well that is just the Barbie-pink icing on the cake.

 

So I plead guilty to Nutjobbery, but on the grounds of diminished responsibility - it's their own fault for being so interesting.

Link to comment
Share on other sites

It would be interesting to know in the players compromise agreements how far the commitment to pay them from the parachute payments goes. i.e. is it just an agreement between the club and the player or is there explicit agreement from the premier league as well? If the latter then if pompey do go pop I would guess the players would have a stronger case to the remaining parachute payments than before their agreements, even though as football creditors they probably would have been high in the queue?

Link to comment
Share on other sites

IF they do sign players today, we will have to accept that after a decade of cheating, the brave new era of frugal spending and sensible accounting lasted exactly 95 minutes.

Future generations will remember that great time when they were financially sensible - that single night in Plymouth will be known as the austerity game.

 

I loved Appys quotes in The News last night. On the one hand saying how proud he was of the kids who played at Plymouth, but in the next breath stating that by Saturday he hoped to have signed enough players better than them that one or two might make the bench if they were lucky.

Link to comment
Share on other sites

Or maybe, just maybe Birch is trying to bluster the FL that everything is really hunky dory down at Fratton Park since Chainrai walked, and they've got absolutely nothing to worry about.

 

Is Birch actually saying any of this , or is it just Appleton and Allen?

Link to comment
Share on other sites

So it seems that a few things will happen today:

 

* Portsmouth possibly sign 10 non-contract players to get around the embargo. Obviously they will be some of the triallists and other free agents so probably a rag-tag lot but I think we want to know the terms on which the FL has allowed them to sign these individuals.

* News is reporting the PST have until December to turn pledges into cash so they will definitely enter the new season in admin if FL and PKF allow it it. So no 10 point reduction yet either.

* Birch to get more fees if admin continues.

 

 

 

December???? TB's fees will be over 3m by then, that's an extra 1m+ the trust will have to find.

Link to comment
Share on other sites

Phil's right, if this is true about signings then nothing has changed, Birch has taken the sticky baton from Storrie and Lampitt and is running with it in the hope of sporting success.

He'll justify this by saying a League One club is easier to sell than a League Two...

Perhaps, but an MOT-failure Metro without a spare wheel is the same value as one with - we ain't talking Ferrari money here Trev.

All he's done is shuffled his garden bench on the lawn so it's closer to the sun.

 

 

For the potential new owners the current league position isn't a massive factor as they want to stabilise over several years - does he think the Trust will pull out if the club is in the bottom half of the table?

 

The playing squad is irrelevant, as are results.

Their aim should be to start the season, then break-even while seeking funding.

In the grand scheme it matters not a jot whether they beat Bournemouth or not - there is a much bigger picture, and if the administrator can't see that then there is a problem.

 

So the more money wasted on short term fixes to gain a sporting advantage over the likes of Crawley and Stevenage is damaging the few future.

Sign them up Trev!

If he offers enough contracts they will be spending cash faster than the Trust can get pledges. :o

 

 

After witnessing literally years of insolvent trading there was a part of me that said, they have finally cut their cloth, they are playing kids - they are not getting away with it, and behind all the abuse we dish out, you have to begrudgingly admit that they are at last doing the right thing.

 

IF they do sign players today, we will have to accept that after a decade of cheating, the brave new era of frugal spending and sensible accounting lasted exactly 95 minutes.

Future generations will remember that great time when they were financially sensible - that single night in Plymouth will be known as the austerity game.

 

 

 

And they wonder why we're so interested in them?

Putting aside the hilarious PR campaigns about battling plucky hero/villain players, young braves (!) and cartoon storylines that rewrite history as we go along, and ignoring the ridiculous portsea pub myths peddled by the thick to the even dimmer, and I know this is the most alien of concepts to them but ....they only have themselves to blame for our obsession.

 

 

Any normal club wouldn't have got into bed with loan sharks, arms dealers, people on the run from war crimes, the mafia, banned directors, potless arabs, money-launderers, people who don't even exist, or illegal football agents.

What is there not to be interested in?!

 

A proper club wouldn't have paid someone to drive their manager to a brothel, or ignored their own wagecaps and treated every greedy player as a loyal hero.

They wouldn't have boasted about hosting the World Cup at a fantasy sea-based stadium that required compulsory purchase of a billion quidsworth of harbourfront estate.

Call me a nutjob but yes, I am interested in undersea casino projects, and a cash-rich saviour from the midlands who sells leather jackets in the street, it amuses me.

 

This thread has been fuelled by the insane soap opera script and just when you think it can't get any madder, they launch a new cycle of overspending.

Yes, we are obsessed.

But it's the script writers at fortress fatpipes that have made us this way.

If they stopped doing crazy things we would stop watching - it's car crash telly, I can't help myself, and when someone chips in amid this chaos telling you that they are about to sign Riqueleme and Maradona is in town - well that is just the Barbie-pink icing on the cake.

 

So I plead guilty to Nutjobbery, but on the grounds of diminished responsibility - it's their own fault for being so interesting.

Pure poetry :lol:

Link to comment
Share on other sites

Is Birch actually saying any of this , or is it just Appleton and Allen?

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-targetting-10-player-swoop-before-weekend-1-4166058

 

Birch is saying it.

Is it me or there really some alternative universe going on in the island in the swamp? Even now, staring oblivion in the face & all they are worried about is being 'competitive,' busily signing up players they clearly can't afford. Normal rules of logic, justice & even nature just cease at the M275 junction.

Just as we think finally, finally they are getting their just desserts, they slip from our grasp and go off to start all over again like some horror-movie baddie.

And that is why we are obsessed - because it is a complusive mix of drama, comedy, nightmarish horror (think TCWTB & Little Avram) and with more twists and turns than a twisty-turny thing.

Link to comment
Share on other sites

Obsession is quite a strong word and slightly misleading.

 

The reason why I keep returning and posting is simply because the whole saga is so entertaining. Yes, it is bad that they have shafted charities, local businesses and the taxman, however watching them reel from one crisis to another, watching every glimmer of hope being cruelly snuffed out at the 11th hour is funny as fuk.

Link to comment
Share on other sites

"I am getting lots of phone calls from players and agents of players who want to come here for nothing"

 

Now that really is living within their means !

 

"But it remains to be seen whether all players offered terms will accept."

 

If they're willing to come for nothing, where's the problem ?

Edited by badgerx16
Link to comment
Share on other sites

×
×
  • Create New...