Gemmel Posted 12 November, 2012 Share Posted 12 November, 2012 An intresting explanation of how the property developer role will work.taken from a forum.... The devil is in the detail, and the detail of this property developers role is to act as a 'bridging owner' of the ground whilst the Community Club raises the funds to buy the ground off of him. The deal is for a 10 year lease to the club with an option to buy it back for a similar value to which it is bought within 5 years. In the meantime a rent for the ground will be charged starting at a peppercorn rate and rising, but still under market rentals for such property. What's in it for the developer? Well if he gets all the land around Fratton Park, it gives him an 'in' on the major planning stumbling block to developing that land. If he doesn't get the surrounding land he gets his money back within 5 years with interest covered by the rent. There's a bit more to this than my simple summing up, but there's more than enough room for all parties to make this a viable solution to getting Fratton Park owned by the club whilst getting rid of the noose that is the charge Link to comment Share on other sites More sharing options...
The Kraken Posted 12 November, 2012 Share Posted 12 November, 2012 There's a bit more to this than my simple summing up.... Yes, there is. But, in this best case scenario, the PST only have to raise £3M within the next 5 years to buy their ground. Shouldn't be too hard..... Link to comment Share on other sites More sharing options...
saint si Posted 12 November, 2012 Share Posted 12 November, 2012 Yes, there is. But, in this best case scenario, the PST only have to raise £3M within the next 5 years to buy their ground. Shouldn't be too hard..... It's so inevitable. 4 years and 6 months of spunking money on players and wages. Then with 6 months to go, they'll plead poverty and seek another whip-round of £1000 a time from those plucky plucky fans... Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 12 November, 2012 Share Posted 12 November, 2012 bust up in the p*mpey dressing room at half time on saturday...... Link to comment Share on other sites More sharing options...
eurosaint Posted 12 November, 2012 Share Posted 12 November, 2012 bust up in the p*mpey dressing room at half time on saturday...... The new manager told them to be a bit more nasty, so maybe they thought that meant they should have a punch up between themselves ? Link to comment Share on other sites More sharing options...
suewhistle Posted 12 November, 2012 Share Posted 12 November, 2012 bust up in the p*mpey dressing room at half time on saturday...... I can imagine someone told someone else to p*** off, and the latter replied not to worry, I'm only on a month's contract anyway... Link to comment Share on other sites More sharing options...
rallyboy Posted 12 November, 2012 Share Posted 12 November, 2012 sorry to touch on the old sensitive subject about the figures not stacking up, but let me get this right.... A property developer who has £3M sat around can either start a new project that could double his money in two or three years, or out of the goodness of his heart he could give a really low interest loan to a football club? In this bizarre scenario the third best outcome for him is that they pay their 'peppercorn' rent and buy the ground back off him, meaning he makes bugger all. The second best outcome is that he has to cough up more for the adjacent land, but gets a piece of the redevelopment action should the Trust stumble across £50M. But the best outcome for him is that they go pop, and he had free rein to develop the site. Doesn't that make it a little dangerous getting into bed with someone who is better off with you liquidated? Are they still pretending that it's a trailblazing fan buyout, the likes of which football has never seen, paving the way for lesser clubs to follow etc? All they seem to be doing is moving the charge from Chanrai to a new loan shark. I'd like to see their definition of 'peppercorn' too. We've been told before that pre-season holidays haven't cost the club a penny, loan players haven't cost a penny, and that the manager on a pittance has the lowest paid squad in the division. All of that was blatant b0ll0cks designed to fool the few - I suspect this new claim of cheap rent and low interest will be similar. There doesn't seem to be much of an incentive for the property developer in the version being spun - so I go for Frank Muir's version.... Link to comment Share on other sites More sharing options...
Jimmy_D Posted 12 November, 2012 Share Posted 12 November, 2012 It's worth remembering that Appleton, for all his tactical failings once the players were out on the pitch, was able to attract those decent players in the first place, considering Pompey's position. Some of them will have been there for the money(!), by the look of it, but others will have just lost the main reason they were there at all. Oh look, they've not been tied to a long term contract, and there's a transfer window about to open. Link to comment Share on other sites More sharing options...
trousers Posted 12 November, 2012 Share Posted 12 November, 2012 @pn_neil_allen: Oh dear, Portpin's stock keeps shrinking. According to The Sun they are officially not fit and proper owners. #Pompey http://t.co/Yj025Xvl Keep up Mr Allen...only 9 hours behind the times today... Link to comment Share on other sites More sharing options...
dingbattigger Posted 12 November, 2012 Share Posted 12 November, 2012 @pn_neil_allen: Oh dear, Portpin's stock keeps shrinking. According to The Sun they are officially not fit and proper owners. #Pompey http://t.co/Yj025Xvl Keep up Mr Allen...only 9 hours behind the times today... Now, now trousers, one mustn't expect miracles Link to comment Share on other sites More sharing options...
Gruffalo Posted 12 November, 2012 Share Posted 12 November, 2012 http://www.express.co.uk/posts/view/357813 Mark Jacob fined - the first of many ? Interesting final paragraph also: The case came as insolvency specialists Baker Tilly, the firm appointed to liquidate the old company that owned Pompey in 2010, revealed that it has sent out legal letters warning several people that it intends to take court action to recover money. Link to comment Share on other sites More sharing options...
carljack Posted 12 November, 2012 Share Posted 12 November, 2012 http://www.express.co.uk/posts/view/357813 Mark Jacob fined - the first of many ? Interesting final paragraph also: Its about to get very messy! or was that riquelme ? I dunno. Link to comment Share on other sites More sharing options...
Gemmel Posted 12 November, 2012 Share Posted 12 November, 2012 http://www.express.co.uk/posts/view/357813 Mark Jacob fined - the first of many ? Interesting final paragraph also: Hmmmmmmmmmmmmm Very intresting, I wonder who has recieved their letters? Some good news for Portpin....... Despite being executive director of Pompey and representing the Ali Al Faraj-led consortium, it has also been claimed that Mr Jacob also represented Portpin. But the tribunal rejected an accusation of conflict of interest today after finding that the allegation had been "inadquately pleaded". The solicitors were also cleared of acting recklessly. After the verdicts were handed down, Mr Ryan turned to Mr Jacob and said: "That's a great result for you." The case came as insolvency specialists Baker Tilly, the firm appointed to liquidate the old company that owned Pompey in 2010, revealed that it has sent out legal letters warning several people that it intends to take court action to recover money Link to comment Share on other sites More sharing options...
trousers Posted 12 November, 2012 Share Posted 12 November, 2012 http://www.express.co.uk/posts/view/357813 Mark Jacob fined - the first of many ? The Express beat top local journo to Pompey news exclusive? Surely some mistake... Link to comment Share on other sites More sharing options...
saint si Posted 12 November, 2012 Share Posted 12 November, 2012 Financial irregularities? How many points deducted for that then? Link to comment Share on other sites More sharing options...
trousers Posted 12 November, 2012 Share Posted 12 November, 2012 Financial irregularities? How many points deducted for that then? Whatever Luton got for the sane offence one would imagine. Can't see the Football League wanting to be seen to be inconsistent....oh...might be worth someone dropping them an email for clarification.... Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 12 November, 2012 Share Posted 12 November, 2012 What would be the odds on a nice -15 for this season - financial irregularities - followed up with a nice -10 to start next season once they finally lumber out of admin? Link to comment Share on other sites More sharing options...
benjii Posted 12 November, 2012 Share Posted 12 November, 2012 They can't start next season in admin, can they? I thought there was an FL rule about starting consecutive seasons in admin. Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 12 November, 2012 Share Posted 12 November, 2012 I still think that Feb is the deadline that anyone wanting to buy the club must be working towards. I really can see the judge refusing permission for an extension of admin and saying "bad luck everyone, you did all you could but it just wasn't to be" As much as I would like this to happen I am afraid that judging by how "Courts" have fallen over backwards to help them in the past I really can't see a judge refusing them this time. Link to comment Share on other sites More sharing options...
aintforever Posted 12 November, 2012 Share Posted 12 November, 2012 The -10 has to come off this season. Link to comment Share on other sites More sharing options...
Gemmel Posted 12 November, 2012 Share Posted 12 November, 2012 Financial irregularities? How many points deducted for that then? And a nice little twist, with this latest good news. If the FL, sanction the trust takeover, they know there will no margin for error with the day to day running costs...... What better way to ensure their overheads are further reduced, than sending them down a league, where transfer fees and salaries are much less. Dig out the Luton file and re-apply Link to comment Share on other sites More sharing options...
badgerx16 Posted 12 November, 2012 Share Posted 12 November, 2012 They can't start next season in admin, can they? I thought there was an FL rule about starting consecutive seasons in admin. To be accurate, they cannot start next season in the same admin. Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 12 November, 2012 Share Posted 12 November, 2012 The -10 has to come off this season. The -10 WILL come off this season if they exit admin before the end of the season. The -10 will come off in the close season - ready for next season - if they exit admin after the end of this season and before the beginning of next. The -10 is irrelevant if they don't come out of admin between now and the beginning of next season as the rules state they cannot start two consecutive seasons in the same admin. Link to comment Share on other sites More sharing options...
sidthesquid Posted 12 November, 2012 Share Posted 12 November, 2012 In some ways the -10 coming off next season would be even better as promotion looks beyond them this season already. Better still if they can contrive to get relegated without the -10 (not impossible....) and start in league Two on -10. Link to comment Share on other sites More sharing options...
aintforever Posted 12 November, 2012 Share Posted 12 November, 2012 The -10 WILL come off this season if they exit admin before the end of the season. The -10 will come off in the close season - ready for next season - if they exit admin after the end of this season and before the beginning of next. The -10 is irrelevant if they don't come out of admin between now and the beginning of next season as the rules state they cannot start two consecutive seasons in the same admin. I thought the wording from the FL was "deducted 10 points for the 21012/13 season". Link to comment Share on other sites More sharing options...
Sheff Saint Posted 12 November, 2012 Share Posted 12 November, 2012 I believe you can only be in admin for 12 months. If they're not out by Feb, they're gone. Sent from my GT-I9100 using Tapatalk 2 Link to comment Share on other sites More sharing options...
trousers Posted 12 November, 2012 Share Posted 12 November, 2012 @pn_neil_allen: Have Michael Appleton attempting to lift the lid on the manner of his #Pompey exit in tomorrow's paper. @pn_neil_allen: As for claims he criticised Trust on Radio Lancashire and recent Tweets saying he was abused in a phonecall, Appy says 'rubbish'. #Pompey Link to comment Share on other sites More sharing options...
badgerx16 Posted 12 November, 2012 Share Posted 12 November, 2012 I believe you can only be in admin for 12 months. If they're not out by Feb, they're gone. They can go back to court after the 12 months to ask for an extension. Link to comment Share on other sites More sharing options...
Pamplemousse Posted 12 November, 2012 Share Posted 12 November, 2012 The toaster's heating up, the next few weeks should be very interesting for us nutjobs Link to comment Share on other sites More sharing options...
Colinjb Posted 12 November, 2012 Share Posted 12 November, 2012 The toaster's heating up, the next few weeks should be very interesting for us nutjobs Get that toaster nice and warm for Christmas. Link to comment Share on other sites More sharing options...
JackFrost Posted 12 November, 2012 Share Posted 12 November, 2012 To be accurate, they cannot start next season in the same admin. I believe a period of administration has to be automatically approved by a court to carry on beyond a year, so the league would have to class this as the same admin otherwise it makes their rule of not being able to start a second season in admin a complete irrelevance. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 12 November, 2012 Share Posted 12 November, 2012 So have the Trust released the prospectus yet or are they still very close to doing so? Link to comment Share on other sites More sharing options...
badgerx16 Posted 12 November, 2012 Share Posted 12 November, 2012 I believe a period of administration has to be automatically approved by a court to carry on beyond a year, so the league would have to class this as the same admin otherwise it makes their rule of not being able to start a second season in admin a complete irrelevance. You are correct, ( go up 3 posts to #77228 ), however I was being slightly facetious and alluding to their potential to extend their lead in the 'how many admins has your club had ?' stakes. Might be a bit cruel in only giving the PST that long though. Link to comment Share on other sites More sharing options...
Saint Keith Posted 12 November, 2012 Share Posted 12 November, 2012 played golf yesterday with a pompey mate of mine who used to be close to the club back in the MM days, he was pretty sure there would be no more Portsmouth in 2 months time. played golf today with a different pompey mate, who said exactly the same thing. not sure what they were basing it on, but both were convinced they were gone by the end of January. that timing seemed a little odd to me given the parachute money that ios due ( February?) but they are not selling any tickets for their Christmas games apaprently Link to comment Share on other sites More sharing options...
St Jim Posted 13 November, 2012 Share Posted 13 November, 2012 http://www.express.co.uk/posts/view/357813 Mark Jacob fined - the first of many ? Interesting final paragraph also: Love this quote - "He said to me that Portsmouth Football Club at this stage was like a carcass and there were vultures circling it and he saw it as his job to keep those vultures off the football club," Link to comment Share on other sites More sharing options...
Dark Munster Posted 13 November, 2012 Share Posted 13 November, 2012 Will they be able to do that as their twelve month's in admin will be up in February, and the season finishes after this. Which coincidentally is when their next parachute payment is due. I doubt they'll go pop before then. I also doubt they'll last much longer after that. Link to comment Share on other sites More sharing options...
dubai_phil Posted 13 November, 2012 Share Posted 13 November, 2012 played golf yesterday with a pompey mate of mine who used to be close to the club back in the MM days, he was pretty sure there would be no more Portsmouth in 2 months time. played golf today with a different pompey mate, who said exactly the same thing. not sure what they were basing it on, but both were convinced they were gone by the end of January. that timing seemed a little odd to me given the parachute money that ios due ( February?) but they are not selling any tickets for their Christmas games apaprently Similar sentiments being expressed in the IP industry, if not earlier. One comment was that TB may only have 2 more weeks to nail everything shut or somebody "tougher" may be parachuted in. TB's achilles heel is likely to be the fact that he has refused to enter any communications with any other looney bidders circling and as such, while they may be a joke, he has not covered his ass by "going the last mile".That leads some to believe only one course of action is really likely Link to comment Share on other sites More sharing options...
Red and White Army Posted 13 November, 2012 Share Posted 13 November, 2012 Similar sentiments being expressed in the IP industry, if not earlier. One comment was that TB may only have 2 more weeks to nail everything shut or somebody "tougher" may be parachuted in. TB's achilles heel is likely to be the fact that he has refused to enter any communications with any other looney bidders circling and as such, while they may be a joke, he has not covered his ass by "going the last mile".That leads some to believe only one course of action is really likely Any updates on your ballcocks from 6th Nov Phil http://www.saintsweb.co.uk/showthread.php?14620-Pompey-Takeover-Saga&p=1518681#post1518681 Hahahahahahahahahahaha Oh Bless Hahahahahaha You read it here first. Hahahahahahaha. More to follow needs clarification from a second source. But Oh if true........ The gift that keeps giving I remember you said Mate. Something just came in from a local source but who could just possibly know some details. The person I need to check in with to get a bit more detail is currently in UK on the tube, it's midnight and I have a 6am start tomorrow & am even missing the game on telly 2night so unless he answers his phone in the next 20 mins it will have to wait until tomorrow. Tomorrow has been and gone, in fact a week has been and gone.... and you're still posting your oblique BS posts pretending to know something while never actually revealing anything. Can you put up or shut up? Link to comment Share on other sites More sharing options...
LGTL Posted 13 November, 2012 Share Posted 13 November, 2012 That was about Appy looking for a move I believe. Link to comment Share on other sites More sharing options...
Red and White Army Posted 13 November, 2012 Share Posted 13 November, 2012 That was about Appy looking for a move I believe. What, something that has been widely reported for weeks? I don't think so. Link to comment Share on other sites More sharing options...
goneawol Posted 13 November, 2012 Share Posted 13 November, 2012 http://www.portsmouth.co.uk/sport/pompey/portpin-budget-antics-rank-as-appy-s-lowest-pompey-point-1-4469794 Link to comment Share on other sites More sharing options...
saint si Posted 13 November, 2012 Share Posted 13 November, 2012 Poor poor Appy. It's a real riches-to-rags story. The football league should clamp down hard on those that promise one amount of money and then deliver another. No place for that in football. Link to comment Share on other sites More sharing options...
dronskisaint Posted 13 November, 2012 Share Posted 13 November, 2012 http://www.portsmouth.co.uk/sport/pompey/portpin-budget-antics-rank-as-appy-s-lowest-pompey-point-1-4469794 His 'Highlight was an away draw with Southampton that felt like a win' Yes, well although it felt like robbery to us that's a pretty damning indictment of a year in the mire of Portsea Island! How the fark did he get the job at Blaclpool? Clone value? Link to comment Share on other sites More sharing options...
trousers Posted 13 November, 2012 Share Posted 13 November, 2012 His 'Highlight was an away draw with Southampton that felt like a win' Whilst fielding a team of players they couldn't afford having diddled creditors to the tune of £150m. Yeah, great achievement...something to be really proud of... Link to comment Share on other sites More sharing options...
Torres Posted 13 November, 2012 Share Posted 13 November, 2012 http://www.portsmouth.co.uk/sport/pompey/portpin-budget-antics-rank-as-appy-s-lowest-pompey-point-1-4469794 I hear there's another two News articles about Appy in the pipeline. Later this week we have the delightful "Appy, my favourite KFC meal since Antonov was arrested" then later there's "Appy, my favourite Top 100 single in the 364 days I was at Pompey". What's that barrel-scraping noise emanating from the News Centre...? Neil Allen, Sports Journalist of the Year, Ladies and Gentlemen.... Link to comment Share on other sites More sharing options...
goneawol Posted 13 November, 2012 Share Posted 13 November, 2012 (edited) No mention of relegation, just disappointed he didn't spend more Edited 13 November, 2012 by goneawol Link to comment Share on other sites More sharing options...
rallyboy Posted 13 November, 2012 Share Posted 13 November, 2012 Though lacking in actual managerial skills I think UnAppy displayed some honesty and integrity at times, but you have to think he is quite dense. When a loan shark with record of ripping off all and sundry says he 'might' take on a business with a really small income, and tells you that IF he does take it on there will be a £4.5M budget for wages - what do you do? a. You ask your three-year-old to look at the projected income and they tell you that he's dreaming and there is no way the business could sustain that level of spending. b. You rush out and buy the biggest shiniest thing you can find with no regard for the facts that are punching you in the face. The fact that he actually organised a free holiday for other clubs' signings to do a sunny pre-season just added to the comedy. Especially as 'it didn't cost the club a penny' - but it did shaft a loyal fan who thought he was helping the glorious promotion push. Link to comment Share on other sites More sharing options...
trousers Posted 13 November, 2012 Share Posted 13 November, 2012 Though lacking in actual managerial skills I think UnAppy displayed some honesty and integrity at times, but you have to think he is quite dense. When a loan shark with record of ripping off all and sundry says he 'might' take on a business with a really small income, and tells you that IF he does take it on there will be a £4.5M budget for wages - what do you do? a. You ask your three-year-old to look at the projected income and they tell you that he's dreaming and there is no way the business could sustain that level of spending. b. You rush out and buy the biggest shiniest thing you can find with no regard for the facts that are punching you in the face. The fact that he actually organised a free holiday for other clubs' signings to do a sunny pre-season just added to the comedy. Especially as 'it didn't cost the club a penny' - but it did shaft a loyal fan who thought he was helping the glorious promotion push. I truly thought 'they' were starting to 'get it' a few months ago but I should've known better than dishing out 'benefit of the doubt' tokens on anyone connected to our friends in the east. Same old Pompey, always cheating (and proud of it to boot) Link to comment Share on other sites More sharing options...
trousers Posted 13 November, 2012 Share Posted 13 November, 2012 (edited) http://m.portsmouth.co.uk/sport/pompey/honest-appy-defends-blackpool-exit-denials-1-4469790 MICHAEL APPLETON shrugged off fans’ criticism over the manner of his Pompey departure and insisted: You won’t have had a more honest manager than me. Yep....transparent to the core... In addition, Appleton held talks with prospective owners, The Pompey Supporters’ Trust, on October 26 over their future plans. He declined to comment whether that meeting influenced his decision to leave. Edited 13 November, 2012 by trousers Link to comment Share on other sites More sharing options...
dubai_phil Posted 13 November, 2012 Share Posted 13 November, 2012 Any updates on your ballcocks from 6th Nov Phil http://www.saintsweb.co.uk/showthread.php?14620-Pompey-Takeover-Saga&p=1518681#post1518681 I remember you said Tomorrow has been and gone, in fact a week has been and gone.... and you're still posting your oblique BS posts pretending to know something while never actually revealing anything. Can you put up or shut up? 1) Appy was desperate to get out as he saw no future (well, my source was unsupported and had no clear links directly to pcfc. Now to be fair we all guessed he would be off asap but we did not forsee the blast at PST, so I gave them that one) the other comment was that once he goes then the house of cards of month long contracts would also collapse - well, Jury is out on that one. 2) The Case against Jacobs implying Financial Irregularities and legal letters being served. My info was "looks like news will come out from the Industry that will hurt them" 3) The issue as I have now quoted that TB may only have two weeks, I have now had that from two sources and posted it above yours. They may be wide of the mark but events & BDO imply something might happen 4) The issue of the forgotten people who tried to make offers for the club, no further public comment on that one (apart from this and a previous comment) they do not intend to sit idly by. I would speculate that while they may not be in a position to affect the outcome at Nottarf they COULD be in a position to harm "those that ignored them". (Oldnick take a chill pill it's not gonna go like you worried about) 5) A speculation that possibly the PST bid might not stay at Nottarf even if they go ahead that has not had a back up. This could be the icing on the cake Why else would IP industry people know in detail that there is a problem with rare worms in Farlington Marshes which is a site of SSI? (Open to alternative speculation on that one - perhaps that is where the bodies are buried?) Link to comment Share on other sites More sharing options...
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