Jump to content

Recommended Posts

There is no way birch is going to declare a buyer whilst he is on $9K per day and there are funds to settle his fees. With Mr. Whippy in the background trying to prove funds he has another golden opportunity to postpone his 'deadline' for another fortnight at least. Why wouldn't he? No resolution this weekend. Move along, nothing to see here.

 

I'm was confused, but perhaps your post explains everything. Chanrai put a bid in and it was accepted by the creditors yonks ago. Chanrai later pulled out. Chanrai back in, but this time Birch says bid unacceptable. Was the bid lower than before? Is that why it was not accepted. But `unacceptable' to who? Birch? How long can he stall for?

Link to post
Share on other sites

From POL about PKF's report and squad finances....

 

I'll start the ball rolling!

 

The document states this

 

5.10 Players’ wages for the current squad are 83% lower than at the Appointment Date.

 

Can anyone accurately recall what the wage bill was when PKF were appointed?

I had a quick search on the April 2012, pkf document and can find no reference to the total players wage bill. I thought it was mentioned in the past that it was circa £10m pa.

 

 

Lets assume those figures to be correct (as of the date of PKF's report, 16th August 2012). So, at that time, Pompey's player wage bill was 83% lower than £10M, or £1.7Mpa. Working on a first team squad of 20 players, that's £1,634 per player per week. Hey, congratulations Pompey, that's around about the League 1 average!! well done!!

 

Oh, but hold on. As I said, PKF's report was published 16th August 2012; so it wouldn't include details of any players signed after that, would it? As of 16th August, Pompey had released all of the high wage earners and signed 10 first team players either on loan or on 1 month contracts (cut and paste from BBC online says that on 16th August itself Pompey signed Kieran Djilali, Mustapha Dumbuya, Jon Harley, Brian Howard, Izale McLeod, Lee Williamson, Simon Eastwood, Jack Compton, Luke Rodgers and Liam Walker). Do PKF's figures include those players? Well, lets assume they do.

 

However, since then (and after PKF's report cut off date of 16th August) Pompey have signed (either on loan or 1 month contract): Mikkel Andersen, Kevin Long, Josh Thompson, Paul Connolly, Jordan Obita, Connor Clifford, Gabor Gyepes, Jonny Ertl and Darel Russell. Some of those players didn't arrive at the club until (according to BBC) August 31st, so there's no way they can be included in PKF's report figures. Players that left Portsmouth since 16th August are Sam Magri (youth) and Kieran Djilali.

 

So in total another 9 players joined the club, with 2 leaving, so an additional 7 players. I'd say that puts a little bit of a dent in the theory that Pompey are paying average wages. £1.7M was paying for 10 incoming senior players, plus whatever is being paid to the youth teamers (in fairness, not a lot). It's fairly clear to see then that the addition of 7 extra players blows the budget well above the average of League 1 (£1.5k - £2K per player).

 

Link to post
Share on other sites
@pn_Rory_McKeown: PKF says a decision on preferred bidder will be made 'depending on what bidders come back with', so it's not yet certain when that will be.

 

Hang on; you mean Tricky Trev is going to miss another deadline, and extend the process even further?

 

I'm genuinely shocked at this revelation.

Link to post
Share on other sites

Wahay, the wage bill rises ever further.

 

Pompey have signed Slovakian defender Lubomir Michalik on a one-month deal.

 

Ľubomír Michalík (born 13 August 1983) is a Slovakian footballer who is nicknamed "The Giraffe" and who played most recently as a centre back for Carlisle United. He left the club in June 2012 after rejecting a new contract offer from the club.

One of the smallest wage bills in the division.........

Link to post
Share on other sites
Wahay, the wage bill rises ever further.

 

 

One of the smallest wage bills in the division.........

 

Rejects small offer from Carlisle (smal because its within their means) an accepts a short term contract at Pompey.... will be because of their fans surely, as we all know short term contracts are cheaper than full time ones... :rolleyes:

Link to post
Share on other sites
Rejects small offer from Carlisle (smal because its within their means) an accepts a short term contract at Pompey.... will be because of their fans surely' date=' as we all know short term contracts are cheaper than full time ones... :rolleyes:[/quote']

 

Its definitely because of the fans Frank; the club can't afford to pay competitive salaries, remember, they've got the lowest wage bill in the division....

 

If Chinny gets in and imposes his £1.5K per week player average there's going to be a few departures from Fortress Fatpipe. Until then it seems like the natives are happy for Tricky Trev to continue to rack up his own bills (nearly £2M now including legal fees) and have a wage bill which exceeds either of the bidding party's wage ceilings. Short term gain for long term financial turmoil; now where have I heard that before......

 

Good work Trevor.

Link to post
Share on other sites
So many fans are loosely saying they want the club to be on an even footing.

 

You watch the natives go mental of chinny comes back and actually make them live within their means...

 

They would be calling in talksport by the shed load crying about how hard done by they are

 

They're not even loosely saying it, DD. Loads are saying that they don't want the Premier League, they don't want to throw money at it like the fackin scummahs are doing, they just want a financially stable club.

 

That sentiment will last around 1 or 2 games, after which the inevitable heavy defeats incurred under Chinny's financial austerity will finally hit home, and the clamour for "investment" will start up all over again.

Link to post
Share on other sites

It strikes me that much fun can be had pretending to be pol posters on this thread. If they really are that fascist that they are banning people that step out of line or appear to be saints... if you have a pol login. Time to start play acting :)

Link to post
Share on other sites
What happened? :lol:

 

Not entirely sure; but I think one of the posters there lifted a bit of info from the post I made on here about Pompey's wage budget perhaps not being as low as they keep claiming; he then posted similar info on there, Frattoniser put 2 and 2 together and made 458, and promptly banned him. After which he had a hissy fit, claimed it was me, said I told him he'd never find me on there and wasn't he great for finding me.

 

So some poor Pompey fan has had his account terminated because Frattoniser is a bit paranoid; that'll be confusing for the poor soul when he tries to log in next :lol::lol:

Link to post
Share on other sites
I've actually got a login of my own now Hypo, so you're not at risk :toppa:

 

Ah fair enough. Well you know where I am if you need me.

 

You can do what you like on your scummer saintsweb site mate, but on there of course you are known as "Kraken" and you threw down the gauntlet by saying on there that I'd never find you - well now I have, you see we have people on there keeping an eye out too but no matter how hard you try, I promise you that you will
NEVER
find me on there. You're banned now mate!

 

Lol. Not you! Any chance of a PM with your real name?

Link to post
Share on other sites

We'll never find him, to be fair he is correct. As we operate an open forum that doesn't require users to sign in :facepalm:

 

It's a bit like a man who has committed no crime waving a banana shouting "you'll never take me alive" at a bemused copper who is about to knock off for lunch and really couldn't give a ****.

 

Frattoniser, you are more than welcome to read our thread - you might learn something.

Link to post
Share on other sites

Hi Frattoniser, welcome to Saintsweb. We don't discriminate here. :)

 

In fact welcome to all Skates who may be taking a look, sign up! Join in the debate, if we are so wrong i'm sure your flawless arguments will carry weight and be impervious to any contrary views.

Edited by Colinjb
Link to post
Share on other sites

PST BID ON TRACK AND WITH ADMINISTRATOR

 

PST's bid to buy Portsmouth Football Club is with Administrator Trevor Birch and still on course to be successful.

 

But in a move welcomed by PST, Mr Birch has given both the Trust and rival bidder Portpin additional time to finalise their bids, notably to satisfy the Football League on a number of issues.

 

'We have said all along that our bid is robust and credible, and the best option for the creditors and the football club,' said Colin Farmery spokesperson for PST

 

'To all intents and purposes our bid is submitted but, given Pompey's recent history, we fully understand and support the need for this process to be as thorough as possible and welcome this decision by PKF. We will continue to work to the timetable set out by the administrators.

 

'We are pleased that Trevor Birch thinks we are capable of concluding a deal and will work round the clock to agree and finalise the deal as soon as we can.

 

'In the mean time we would urge all Pompey fans who are able to attend the match at Fratton Park against Walsall on Saturday and give Michael Appleton and the team their full support,' he added.

Link to post
Share on other sites

 

‘Significant progress has been made over the past two weeks, and both Portpin and the Pompey Supporters’ Trust (PST) are continuing to work with the Football League, which must agree that they can take ownership of Portsmouth Football Club, and the Professional Footballers’ Association, which represents the players owed money by the club.

 

So, the PFA want the PST to pay the full amount on the compromise agreements and the Football League want Chainrai to hold less secured debt. How long have they had this deadline and they still can't sort out the most obvious problems with their bids?

Link to post
Share on other sites
So, the PFA want the PST to pay the full amount on the compromise agreements and the Football League want Chainrai to hold less secured debt. How long have they had this deadline and they still can't sort out the most obvious problems with their bids?

 

By his own admission Chainrai submitted his bid last week, so it must be in a pretty poor state if it still doesn't tick all of Trev's boxes. The Trust have supposedly upped their bid since they initially offered only part payment of the player deferrals, but obviously they're still some way short of where they need to be.

 

I'd be massively worried by Birch's actions if I were the Trust. PKF's fees plus legal bills is fast approaching £2M now, and there's various other creditors highlighted in PKF's report who still have sums outstanding. That will have to be paid, and will be done so from the existing bank account which has been funded by the parachute payments (the same parachute payments which the Trust need to actually function).

 

So the longer it all goes on, the PKF keep billing at their average of £299 per hour, the less operating cash the new owner will have to keep the club afloat if/when they finally get over the line.

 

I'm very surprised Birch hasn't faced any sort of challenge from creditors; there's surely an argument that the amount of cash in the bank is more than the value of the club were they to liquidate.

Link to post
Share on other sites
Funny aren't they over on scumweb - they are still copying and pasting stuff from this thread on there but being the really thick, knuckle dragging pony fiddlers that they are, they really don't realise that the more they are doing that then the more they are giving us mods/admin all the details and info we need. Thanks scummers, you are making our work so much easier! And by the way, we've got exactly the one we wanted

 

:facepalm: :facepalm:

Link to post
Share on other sites
By his own admission Chainrai submitted his bid last week, so it must be in a pretty poor state if it still doesn't tick all of Trev's boxes. The Trust have supposedly upped their bid since they initially offered only part payment of the player deferrals, but obviously they're still some way short of where they need to be.

 

I'd be massively worried by Birch's actions if I were the Trust. PKF's fees plus legal bills is fast approaching £2M now, and there's various other creditors highlighted in PKF's report who still have sums outstanding. That will have to be paid, and will be done so from the existing bank account which has been funded by the parachute payments (the same parachute payments which the Trust need to actually function).

 

So the longer it all goes on, the PKF keep billing at their average of £299 per hour, the less operating cash the new owner will have to keep the club afloat if/when they finally get over the line.

 

I'm very surprised Birch hasn't faced any sort of challenge from creditors; there's surely an argument that the amount of cash in the bank is more than the value of the club were they to liquidate.

 

Indeed. And why, seemingly, aren't HMRC rattling any cages? Surely they will recoup more money for you and I (the Great British taxpayer) if they were to press for liquidation, now that the coffers are relatively healthy?

Link to post
Share on other sites
Hi Fratts. :lol:

 

I'm still there, my old son. Not sure who you banned in your fit of pique, but it wasn't me :smug:

 

Hahaha. Clueless. There is no way they know who it is, they just look for the location and if it's in Southampton they guess it is us and hit ban. Wonder how many of their own they have removed?

Link to post
Share on other sites
Hi Fratts. :lol:

 

I'm still there, my old son. Not sure who you banned in your fit of pique, but it wasn't me :smug:

 

You'd think with their club on the verge of being sold to a HK loan shark, a Fake Sheikh or The Village People they would have more to worry about. It's like a modern day McCarthyism.

Edited by St Chalet
Link to post
Share on other sites
Indeed. And why, seemingly, aren't HMRC rattling any cages? Surely they will recoup more money for you and I (the Great British taxpayer) if they were to press for liquidation, now that the coffers are relatively healthy?

 

How much of the current unsecured debt is owed to HMRC? Do they have enough clout to push for liquidation? Major threat for liquidation is if the Football League don't give the green light for Chinny's terms. If he wants to pull the plug, the club's finished.

 

Also, in liquidation, all of the proceeds would go to Chinny and Trev, HMRC would get nothing.

Link to post
Share on other sites
How much of the current unsecured debt is owed to HMRC? Do they have enough clout to push for liquidation? Major threat for liquidation is if the Football League don't give the green light for Chinny's terms. If he wants to pull the plug, the club's finished.

 

Also, in liquidation, all of the proceeds would go to Chinny and Trev, HMRC would get nothing.

 

In liquidation the players would get feck all, unless the Prem paid them out of the reaming £8m PP.

Link to post
Share on other sites
In liquidation the players would get feck all, unless the Prem paid them out of the reaming £8m PP.

 

Are you suggesting that the Football League should allow Chainrai to drive a coach and horses through the conditions they laid down in granting them a Golden Share?

 

Chinny's got them over a barrel. It's his terms or liquidation.

Link to post
Share on other sites
×
×
  • Create New...

Important Information

View Terms of service (Terms of Use) and Privacy Policy (Privacy Policy) and Forum Guidelines ({Guidelines})