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Pompey Takeover Saga


Fitzhugh Fella

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If you are selling a club would you get more for one in league 2 with no points penalty or one in league 1 with a 10 point penalty? Wonder if chinnys plan is that he realises that if the takeover happens now they are all but consigned to league 2 where as if he can prolong admin (with a much cheaper admin I would guess) then as long as he can get permission in feb for admin to continue then there is a reasonable chance they can avoid relegation at which point he (or rather his tame admin) would sell the club for more that the PST are able to rustle up.

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and we were thinking that it was the Trust who were the poor relations of the deal, looks like their £1M will buy them full control - of nothing in particular.

 

IF Robinson is potless, as a property developer I'm sure he can raise some funding for a deal that might net him a couple of million.

 

I reckon he must have a few million squirreled away, but if he hasn't, what sort of person is likely to take a punt and lend him money at an alarming interest rate?....

 

 

Though that interest rate will rise a percent with every abusive comment in the courtroom corridors.

 

 

The high court is definitely their second home now, could even be their first home soon.

Has the nasty league restricted their support squad to 14?

That is unfair.

 

 

With all that's going on today I can see why they think we are all jealous.

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and we were thinking that it was the Trust who were the poor relations of the deal, looks like their £1M will buy them full control - of nothing in particular.

 

IF Robinson is potless, as a property developer I'm sure he can raise some funding for a deal that might net him a couple of million.

 

I reckon he must have a few million squirreled away, but if he hasn't, what sort of person is likely to take a punt and lend him money at an alarming interest rate?....

 

 

Though that interest rate will rise a percent with every abusive comment in the courtroom corridors.

 

 

The high court is definitely their second home now, could even be their first home soon.

Has the nasty league restricted their support squad to 14?

That is unfair.

 

 

With all that's going on today I can see why they think we are all jealous.

*

 

Bridging finance *could* be an option used initially - which may of course fallen through...many lenders would want a business plan..

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If you are selling a club would you get more for one in league 2 with no points penalty or one in league 1 with a 10 point penalty? Wonder if chinnys plan is that he realises that if the takeover happens now they are all but consigned to league 2 where as if he can prolong admin (with a much cheaper admin I would guess) then as long as he can get permission in feb for admin to continue then there is a reasonable chance they can avoid relegation at which point he (or rather his tame admin) would sell the club for more that the PST are able to rustle up.

 

Doesn't matter which way round they do it they have to take the -10 hit THIS season, as it applies when they come out of admin , and they can't start 2 seasons in a row in admin.

Edit before posting: Doubting myself now , when does season end and new season start? Last lick? Certain date? When next one kicks off? i.e. can they end this season in admin, sell in summer, and start next season out of it. When would the -10 be applied then? Next year or retrospectively against this years total? Be even funnier if they finish season safe then lose 10 points and get relegated.

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[QUOyboy;1553380]and we were thinking that it was the Trust who were the poor relations of the deal, looks like their £1M will buy them full control - of nothing in pa

IF Robinson is potless, as a property developer I'm sure he can raise some funding for a deal that might net him a couple of million.

 

I reckon he must have a few million squirreled away, but if he hasn't, what sort of person is likely to take a punt and lend him money at an alarming interest rate?....

 

 

Though that interest rate will rise a percent with every abusive comment in the courtroom corridors.

 

 

The high court is definitely their second home now, could even be their first home soon.

Has the nasty league restricted their support squad to 14?

That is unfair.

 

 

With all that's going on today I can see why they think we are all jealous.

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I thought that it was only the club's debt that was covered. The PDT have signed an agreement that on purchase of the club, they will instantly transfer ownership of the ground to REL. It would be REL's debt, not the PDT's.

 

Also, you don't have to have possessionary ownership to raise bridging finance on it - as long as the legal intention is to buy, with a valid exit route for the bridging lender, it's possible they could raise funds that way..at least to do the deal.

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They may well have no choice.

 

They (the bestest fans) will ALWAYS have a choice not to get into bed with Chainrai.....they can boycott Fratton Park (if Chainrai regains control) and set up a phoenix club....but, of course, their obsession with retaining FL membership, and thus the links with their murky past, will always win over the much more noble route of starting afresh....

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They (the bestest fans) will ALWAYS have a choice not to get into bed with Chainrai.....they can boycott Fratton Park (if Chainrai regains control) and set up a phoenix club....but, of course, their obsession with retaining FL membership, and thus the links with their murky past, will always win over the much more noble route of starting afresh....

 

They should have taken that route 2 years ago.

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Doesn't matter which way round they do it they have to take the -10 hit THIS season, as it applies when they come out of admin , and they can't start 2 seasons in a row in admin.

Edit before posting: Doubting myself now , when does season end and new season start? Last lick? Certain date? When next one kicks off? i.e. can they end this season in admin, sell in summer, and start next season out of it. When would the -10 be applied then? Next year or retrospectively against this years total? Be even funnier if they finish season safe then lose 10 points and get relegated.

 

Have been wondering the same thing. The league has a history of applying deducions when they most hurt, regardless, but they've been so soft on portsmouth so far in comparison to what they did to Luton and others (even bournemouth), that -- who knows?

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Also' date=' you don't have to have possessionary ownership to raise bridging finance on it - as long as the legal intention is to buy, with a valid exit route for the bridging lender, it's possible they could raise funds that way..at least to do the deal.[/quote']

Again the FL won't let them buy with debt, they need to raise ALL the money through equity. I understand the point dvw made, but don't agree. Birch has had to wrap it up as a single indivisible transaction involving the Trust and it's "Strategic Property Partner". Because if he doesn't do that then he will have to sell the club and the stadium separately, the ground will be sold to the highest bidder and they will end up playing at Moneyfields before you can say Jack Robinson.

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They should have taken that route 2 years ago.
Exactly, they talk about being noble but hang onto the corpse and will lick the gusset clean on a tramps underpants if it means they can stay in the league and keep the old decrepit rotten corpse that used to be Portsmouth football club
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Again the FL won't let them buy with debt, they need to raise ALL the money through equity. I understand the point dvw made, but don't agree. Birch has had to wrap it up as a single indivisible transaction involving the Trust and it's "Strategic Property Partner". Because if he doesn't do that then he will have to sell the club and the stadium separately, the ground will be sold to the highest bidder and they will end up playing at Moneyfields before you can say Jack Robinson.

 

But that's my point - perhaps it's been made clear some form of bridging is being used..

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Just from my scribbled notes of todays procedings

 

If you gave an order

00:03 → 00:05 that Fratton Park wasn't to be touched...

00:06 → 00:08 and your orders are always followed...

00:10 → 00:12 then why would Fratton be in danger?

00:15 → 00:17 Why would it be necessary, to transfer in more players?

00:24 → 00:26 Fratton was a substandard Ground

00:27 → 00:28 - Players were being transferred - That's not what you said!

00:29 → 00:31 You said players being transferred in because the club was in grave danger.

00:32 → 00:32 That's correct!

00:33 → 00:34 You said it's in danger. I said, :Grave danger?: You said, :Is there any other kind?:

00:35 → 00:37 - I recall what I said. - I can have it read back to you.

00:38 → 00:40 I know what I said! I don't have to have it read back to me, like an . . .

00:41 → 00:42 Then why the two orders?

00:43 → 00:45 PST ?

00:46 → 00:48 Sometimes men take matters into their own hands.

00:49 → 00:51 You've made it clear that your men never take matters into their own hands

00:52 → 00:53 Your men follow orders, or we lose more points

00:54 → 00:56 So Fratton should have been in danger, should he?

00:57 → 00:59 - You snotty little bastard. - I'd like to ask for a recess.

01:00 → 01:03 - I'd like an answer to the question. - The court will wait for an answer.

01:04 → 01:06 If PST gave an order...

01:07 → 01:08 that Fratton wasn't to be touched...

01:10 → 01:11 then why did players have to be transferred in?

01:13 → 01:13 PST . .?

01:15 → 01:18 Your manager ordered more players because that's what you told him to do!

01:19 → 01:21 - Object! - And then you cut these guys loose!

01:22 → 01:24 - I'll hold you in contempt. - You doctored the account logbook!

01:25 → 01:27 - Damn it, - Consider yourself in contempt.

01:28 → 01:30 PST , did you order the players in

01:31 → 01:33 - You don't have to answer that. - I'll answer the question.

01:34 → 01:36 - You want answers? - I think I'm entitled!

01:37 → 01:38 - You want answers? - I want the truth!

01:39 → 01:40 You can't handle the truth!

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Doesn't matter which way round they do it they have to take the -10 hit THIS season, as it applies when they come out of admin , and they can't start 2 seasons in a row in admin.

Edit before posting: Doubting myself now , when does season end and new season start? Last lick? Certain date? When next one kicks off? i.e. can they end this season in admin, sell in summer, and start next season out of it. When would the -10 be applied then? Next year or retrospectively against this years total? Be even funnier if they finish season safe then lose 10 points and get relegated.

 

I wonder if the March deadline applies to this case like other admins. It would be funniest if they came out of admin in April, got relegated on their own merit and had the -10 apply next season.

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@lyzchambers: SSN say Portpin told them property developer cannot now raise money to buy FP. Guilfoyle said hes been told other buyers out there #pompey

 

You couldn't make it up!

Which surely means that he didn't get the Gaydamak land, so back to the fundamental question "who did?". Their fate hangs on the answer.

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@lyzchambers: SSN say Portpin told them property developer cannot now raise money to buy FP. Guilfoyle said hes been told other buyers out there #pompey

 

You couldn't make it up!

 

I wonder how you must be feeling if you have already coughed up the £1000. Difficult conversation to have with the missus.

 

"Darling, you that investment I said we were making last week? well it has just gone south."

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I wonder how you must be feeling if you have already coughed up the £1000. Difficult conversation to have with the missus.

 

"Darling, you that investment I said we were making last week? well it has just gone south."

 

I suspect they'll get their money back. I mean, it's not like Farmery and friends can keep the money raised so far and bunk off to Brazil, is it? The few thousands pounds they have wouldn't last until Christmas. :lol:

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