Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 http://www.telegraph.co.uk/sport/football/teams/portsmouth/9866096/Supporters-Trust-closing-in-on-Portsmouth-deal.html I see that article says that tomorrow's court case is to try and force the sale. I thought it was just to set a date for the actual hearing? If they haven't got that right, you can't put much faith in the rest of what it says. Link to comment Share on other sites More sharing options...
andysstuff Posted 13 February, 2013 Share Posted 13 February, 2013 http://www.telegraph.co.uk/sport/football/teams/portsmouth/9866096/Supporters-Trust-closing-in-on-Portsmouth-deal.html It doesn't really sound like his heart's in it does it. Wonder if he's secretly rooting for a valuation well above £3m? Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 It doesn't really sound like his heart's in it does it. Wonder if he's secretly rooting for a valuation well above £3m? A bit like the value that Keith Harris and Co put forward....? Would be a real shame for the PDT if the judge took the Harris consortium bid into account... Link to comment Share on other sites More sharing options...
andysstuff Posted 13 February, 2013 Share Posted 13 February, 2013 A bit like the value that Keith Harris and Co put forward....? Would be a real shame for the PDT if the judge took the Harris consortium bid into account... I'm sure the judge will look kind and hard at all of the evidence that the barrister's present. Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 Borrowed from Facebook.... If the Pompey trust had bet the £1M they had 11 matches ago, that they wouldn't get a single point up until the 12th Feb, they would have turned that £1M into £27,845,000 with Ladbrokes. Link to comment Share on other sites More sharing options...
Saint Lindford Posted 13 February, 2013 Share Posted 13 February, 2013 Borrowed from Facebook.... If the Pompey trust had bet the £1M they had 11 matches ago, that they wouldn't get a single point up until the 12th Feb, they would have turned that £1M into £27,845,000 with Ladbrokes. But surely they don't need all that money as the bid is ready to go and fully funded already. Link to comment Share on other sites More sharing options...
dubai_phil Posted 13 February, 2013 Share Posted 13 February, 2013 http://www.telegraph.co.uk/sport/football/teams/portsmouth/9866096/Supporters-Trust-closing-in-on-Portsmouth-deal.html The PROBLEM with TB's stance is that it still sits on the foundations that the club must continue to exist and play at nottarf. It still sits on the belief that TB has that this will create a better return for the creditors than any other scenario. The club COULD exist without nottarf and would kill much of the hangers on in one fell swoop. TB is fine until he makes one slip and is shown to have cost the creditors money. The Harris bid is (as we all believe at both ends of the M27) a Trojan Horse, BUT the simple fact that the Golden Share would not be passed to Harris & Co is irrelevant to TB's Legal Duty - Best Value to creditors. Not a week when High School failures should be going into battle with Barristers armed with upside down bestest innit banners instead of reams of Legal Precedents Link to comment Share on other sites More sharing options...
Gemmel Posted 13 February, 2013 Share Posted 13 February, 2013 So it's full steam ahead now with the pst. The first of two major milestones, til the old girl that is the PTS, can start winding down. Once the pst take over and the they exit administration, the points will come off and then it will be somewhere around mid march that they are formally relegated. From the taunting of our minus ten, potential of going out of business and propping up league one, to dining at the top table in the Prem, having just beat the champions, from their position of; A team of Internationals, playing european football, to entry into the bottom league without a squad and Jack ****e to purchase one with (And that's without the three years of belly laughs along the way) Not sure about the rest of the nutjobs, but You gotta be happy with that??? And Old Nick, without wishing to turn on a fellow Saints fan - You couldn't have been more wrong. Of course there will be a few more twists, turns and laughs along the way; The court case, the football creditors, the floating charge, the pcc loan, Mr robinson, the cva, the % of ownership and maybe a couple of old skeletons (Sorry Kanu) for good measure. But the end game is in sight..... Be safe in the knowledge, that you will all, (As will your kids, grandkids and great grandkids) serve the rest of your time in full possession of "Bragging rights" and enjoy being "The Pride of the South". The Southcoast is Ours, the Southcoast is Ours - We are Southampton, the Southcoast is Ours. Link to comment Share on other sites More sharing options...
SaintRichmond Posted 13 February, 2013 Share Posted 13 February, 2013 The open top bus is being dusted down... I still think it hilarious that the bus was in SAINTS colours Link to comment Share on other sites More sharing options...
sussexsaint Posted 13 February, 2013 Share Posted 13 February, 2013 But surely they don't need all that money as the bid is ready to go and fully funded already. Water down nose momet Link to comment Share on other sites More sharing options...
Winchester Red Posted 13 February, 2013 Share Posted 13 February, 2013 While the phew are still saying that all of this is 'worth it for the FA Cup win' then they have still got away with it. Only when they say they'd rather not have won the cup and avoided the heartache will the punishment be sufficient Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 http://www.football365.com/f365-features/8496813/F365-Focus Link to comment Share on other sites More sharing options...
Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 So it's full steam ahead now with the pst. The first of two major milestones, til the old girl that is the PTS, can start winding down. Once the pst take over and the they exit administration, the points will come off and then it will be somewhere around mid march that they are formally relegated. From the taunting of our minus ten, potential of going out of business and propping up league one, to dining at the top table in the Prem, having just beat the champions, from their position of; A team of Internationals, playing european football, to entry into the bottom league without a squad and Jack ****e to purchase one with (And that's without the three years of belly laughs along the way) Not sure about the rest of the nutjobs, but You gotta be happy with that??? And Old Nick, without wishing to turn on a fellow Saints fan - You couldn't have been more wrong. Of course there will be a few more twists, turns and laughs along the way; The court case, the football creditors, the floating charge, the pcc loan, Mr robinson, the cva, the % of ownership and maybe a couple of old skeletons (Sorry Kanu) for good measure. But the end game is in sight..... Be safe in the knowledge, that you will all, (As will your kids, grandkids and great grandkids) serve the rest of your time in full possession of "Bragging rights" and enjoy being "The Pride of the South". The Southcoast is Ours, the Southcoast is Ours - We are Southampton, the Southcoast is Ours. Personally I won't be happy if they lose the -10 this season, when they will be relegated anyway without the deduction. I want them to start next season in the 4th divsion, with no money and on -10 points ------- and ideally without Fratton Park, but that would be the icing on the cake. Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 http://www.dailymail.co.uk/sport/article-2277794/Charles-Sale-Vauxhall-Hodgson-England-road-Brazil.html Harris bombs The Football League board were quick to dismiss the fanciful attempts of football financier Keith Harris, a former Football League chairman, to hijack Pompey Supporters Trust’s preferred bid to buy the troubled club. PST have not wasted time in rubbishing the credentials of Harris’s proposed co-owners. Alan Hitchins, described by the Harris PR machine as a ‘professional investor’, is alleged by PST to be a vet from Kent. Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 (edited) Penny Mourdant on PMQs just now banging on about the PFA "undermining the takeover of Pompey this week"....words fail me.... ....not to mention Cameron then praising her efforts re: supporting tax evasion, oops, sorry.... trying to help Pompey survive.... Edited 13 February, 2013 by trousers Link to comment Share on other sites More sharing options...
Window Cleaner Posted 13 February, 2013 Share Posted 13 February, 2013 Penny Mourdant on PMQs just now banging on about the PFA getting in the way of the Pompey takeover.....words fail me.... (not to mention Cameron praising her efforts re: supporting the PST takeover) surely there must be matters of greater import to the nation than multiple times bankrupt PFC. Link to comment Share on other sites More sharing options...
dubai_phil Posted 13 February, 2013 Share Posted 13 February, 2013 http://www.dailymail.co.uk/sport/article-2277794/Charles-Sale-Vauxhall-Hodgson-England-road-Brazil.html Perhaps THE single most realistic and value add bidder of this whole sorry saga. At least if they have a Vet on the premises we can be assured he will put the old dog down in a more humane manner than they have managed these past years.... The PDT are still fighting... Which reminds me Come back I'll bite your legs off Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 (edited) Lord Palmerston @Lord_Palmerston Thanks to @pennymordauntmp for keeping up the profile of the #PompeySupporters Trust bid with her question at #PMQs. Trousers @Lord_Trousers @Lord_Palmerston @PennyMordauntMP Yep....shocking that the PFA are trying to protect their members from yet further losses... #facepalm Lord Palmerston @Lord_Palmerston @Lord_Trousers @PennyMordauntMP The PST takeover is the only one in play capable of supporting a CVA. Trousers @Lord_Trousers @Lord_Palmerston @PennyMordauntMP I'm sure the creditors from CVA1 are salivating at the prospect of receiving Lord Palmerston @Lord_Palmerston @Lord_Trousers @PennyMordauntMP If the FL had done job properly, would never have happened. I was tweeting my doubts about CSI 2 years ago. Trousers @Lord_Trousers @Lord_Palmerston @PennyMordauntMP Is that a reason for denying employees what they're legally entitled to? (FCR needs to change for future) Edited 13 February, 2013 by trousers Link to comment Share on other sites More sharing options...
RedAndWhite91 Posted 13 February, 2013 Share Posted 13 February, 2013 Serious question: If the PST have been struggling to find the funds to takeover the club, how are they supposed to keep the club going, thinking about bringing players in, wages, stadium maintenance, policing costs etc etc etc? Link to comment Share on other sites More sharing options...
Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 Penny Mourdant on PMQs just now banging on about the PFA "undermining the takeover of Pompey this week"....words fail me.... ....not to mention Cameron then praising her efforts re: supporting tax evasion, oops, sorry.... trying to help Pompey survive.... How is it undermining their bloody bid this week, to continue to have the same conditions in place that have been in place for months and that she and the trust have known about for months ? ... namely that the parachute payments go to their members as part of the agreement that they made to accept less than they were contractually entitled to, to guarantee they might one day actually get some money God -- that woman is annoying! Link to comment Share on other sites More sharing options...
Gemmel Posted 13 February, 2013 Share Posted 13 February, 2013 Hmmmmmmmmmm If the PFA are undermining the bid as penny says........... My interpretation would be that the pst want to reduce payments to the football creditors or split it over a period of time. They want the parachute money Link to comment Share on other sites More sharing options...
Sevvy Posted 13 February, 2013 Share Posted 13 February, 2013 Looks like the said court case is going ahead, so what time does the fun begin, and how long in the future will they set the date for the actual bun fight on the cost of FP. Link to comment Share on other sites More sharing options...
Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 Serious question: If the PST have been struggling to find the funds to takeover the club, how are they supposed to keep the club going, thinking about bringing players in, wages, stadium maintenance, policing costs etc etc etc? Serious answer. Their attedance figures in L2 ought to be enough to comfortably support a L2 club. However , on top of all the normal expenditure, they will have to generate enough gross profit to pay back the loans they are relying on to take over. So if for once they are to be run sustainably, they will have to keep wages low, right down with those paid by the likes of tiny clubs such as Aldershot etc. This should mean they cannot expect to assemble a team that will easily get promotion. So unless they get lucky, apppointing an excellent but cheap manager for example, they will need to make do with being mid-table L2 for several years to come. Once they've paid back the initial loans in say 5 years time, if they've not been tempted to put themselves in hock in some other way by then, they could then start to spend a bit more, and ought to be able to get up to the natural level for a club of their size .... probably yo-yoing between L1 and championship IMO. Link to comment Share on other sites More sharing options...
Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 Hmmmmmmmmmm If the PFA are undermining the bid as penny says........... My interpretation would be that the pst want to reduce payments to the football creditors or split it over a period of time. They want the parachute money Yes, to underwrite the council loan. Link to comment Share on other sites More sharing options...
andysstuff Posted 13 February, 2013 Share Posted 13 February, 2013 Hmmmmmmmmmm If the PFA are undermining the bid as penny says........... My interpretation would be that the pst want to reduce payments to the football creditors or split it over a period of time. They want the parachute money That would explain where they've found all the extra cash. Link to comment Share on other sites More sharing options...
Jimmy_D Posted 13 February, 2013 Share Posted 13 February, 2013 Hmmmmmmmmmm If the PFA are undermining the bid as penny says........... My interpretation would be that the pst want to reduce payments to the football creditors or split it over a period of time. They want the parachute money Reckon they're relying on the PPs being available as security to secure the loan from the council, and are trying to negotiate with the players to get THEM to accept being paid on the never never instead of from the PPs. If that's the case, with their recent credit history, I wouldn't be surprised that the PFA are telling them where to go. Link to comment Share on other sites More sharing options...
Torres Posted 13 February, 2013 Share Posted 13 February, 2013 And ties in with: Our bid is 'fully funded' in as much as the key principles of how it will be financed are agreed. It is also 'ready to go' in the sense that once parties other than the PST bid fulfil certain obligations or requirements we can roll. The key principles being using PP money that they have already agreed to pay to ex-players. The "certain obligations or requirements" being that the players give up their security. Scumbags again trying to avoid paying what they owe. I wish nothing but pain for them. Link to comment Share on other sites More sharing options...
Torres Posted 13 February, 2013 Share Posted 13 February, 2013 If that's the case, with their recent credit history, I wouldn't be surprised that the PFA are telling them where to go. I hope so. How many more chances to pay their members are the PFA going to give them? Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 Looks like the said court case is going ahead, so what time does the fun begin, and how long in the future will they set the date for the actual bun fight on the cost of FP. Should appear on here this afternoon: http://www.justice.gov.uk/courts/court-lists/list-cause-rolls Link to comment Share on other sites More sharing options...
chocco boxo Posted 13 February, 2013 Share Posted 13 February, 2013 Jo Tessem just gone on a free from Totton and Eling to them. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 13 February, 2013 Share Posted 13 February, 2013 Jo Tessem just gone on a free from Totton and Eling to them. how old is he now, must be pushing 40 surely. Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 Jo Tessem just gone on a free from Totton and Eling to them. Has played a grand total of 4 games for them this season...3 as sub.... http://www.pitchero.com/clubs/tottonelingfc/s/players-coaches-41094.html?player_id=411753 Link to comment Share on other sites More sharing options...
tajjuk Posted 13 February, 2013 Share Posted 13 February, 2013 Serious answer. Their attedance figures in L2 ought to be enough to comfortably support a L2 club. However , on top of all the normal expenditure, they will have to generate enough gross profit to pay back the loans they are relying on to take over. So if for once they are to be run sustainably, they will have to keep wages low, right down with those paid by the likes of tiny clubs such as Aldershot etc. This should mean they cannot expect to assemble a team that will easily get promotion. So unless they get lucky, apppointing an excellent but cheap manager for example, they will need to make do with being mid-table L2 for several years to come. Once they've paid back the initial loans in say 5 years time, if they've not been tempted to put themselves in hock in some other way by then, they could then start to spend a bit more, and ought to be able to get up to the natural level for a club of their size .... probably yo-yoing between L1 and championship IMO. This is why the Trust bid is the best for Saints fans, they become a nothing club. A midtable (maybe even worse) league 2 club with little budget to progress. In a few years everyone will have forgotten about Pompey you'll hardly see them mentioned unless draw a big club in the FA cup. Their gates will dwindle the longer they are in league 2 as well which could be a while. The current mess acutally keeps them relevant, people are talking about them, they make the national media much more than other club doing a lot better in league 1. Once the trust takesover they will be an afterthought on the Football League show. Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 how old is he now, must be pushing 40 surely. 41 in a couple of weeks Link to comment Share on other sites More sharing options...
Pugwash Posted 13 February, 2013 Share Posted 13 February, 2013 41 in a couple of weeks I bet it's the old coach/player trick all over again, to get around the limit of 20 players. Link to comment Share on other sites More sharing options...
Torres Posted 13 February, 2013 Share Posted 13 February, 2013 Jo Tessem just gone on a free from Totton and Eling to them. Craig Maskell next. Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 Tomorrow's court list just released..... http://www.justice.gov.uk/courts/court-lists/list-cause-rolls (half way down the page) Can't see Portsmouth FC in there.....have I got the wrong court maybe? Link to comment Share on other sites More sharing options...
Jimmy_D Posted 13 February, 2013 Share Posted 13 February, 2013 Tomorrow's court list just released..... http://www.justice.gov.uk/courts/court-lists/list-cause-rolls (half way down the page) Can't see Portsmouth FC in there.....have I got the wrong court maybe? There was a rumour yesterday that it had been adjourned yet again, to be announced today. Maybe it was true? Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 There was a rumour yesterday that it had been adjourned yet again, to be announced today. Maybe it was true? Yep, saw the rumour yesterday....just assumed PKF would make some kind of announcement before the court lists were published? As I say, maybe I've got the wrong court and/or court list? Edit: if its the same judge as last time (Justice Sales?) then he's defo got a different case tomorrow.... COURT 23Before MR JUSTICE SALES Thursday, 14 February 2013 At half past 10 INTERIM HEARINGS LIST HC09C00186 Relfo Ltd v Varsani & anr Link to comment Share on other sites More sharing options...
ottery st mary Posted 13 February, 2013 Share Posted 13 February, 2013 I thought it had gone over to March..... Link to comment Share on other sites More sharing options...
Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 Interesting comment on the News site: Fratbrat1:35 PM on 13/02/2013 So it seems that the council has been prepared to swap the guarantee of the parachute payments for the guarantee of owning Fratton, if the trust defaults on repayments. Interesting. So if the worst came to the worst in 13 months time, it would be the council that would be evicting the club from Fratton, and the council that would then be selling it for development for retail or housing use. That would be a tricky thing for their p.r. people to handle! Link to comment Share on other sites More sharing options...
Torres Posted 13 February, 2013 Share Posted 13 February, 2013 I thought it had gone over to March..... 1st April, probably Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 Trousers @Lord_Trousers @Lord_Palmerston @PennyMordauntMP Either way, one can hardly criticise an organisation for sticking up for its members #thatswhytheyexist Lord Palmerston @Lord_Palmerston @Lord_Trousers @PennyMordauntMP The PFA have made it more, not less, likely that their members would get nothing at all from this admin. Lord Palmerston @Lord_Palmerston @Lord_Trousers @PennyMordauntMP Had PFA recognised their privileged position and been more ready to compromise, everyone would be better off Trousers @Lord_Trousers @Lord_Palmerston @PennyMordauntMP I thought they'd already compromised (twice)? Link to comment Share on other sites More sharing options...
Jimmy_D Posted 13 February, 2013 Share Posted 13 February, 2013 Interesting comment on the News site: Fratbrat1:35 PM on 13/02/2013 So it seems that the council has been prepared to swap the guarantee of the parachute payments for the guarantee of owning Fratton, if the trust defaults on repayments. Interesting. So if the worst came to the worst in 13 months time, it would be the council that would be evicting the club from Fratton, and the council that would then be selling it for development for retail or housing use. That would be a tricky thing for their p.r. people to handle! That's actually a really good move on the PST's part, if they've managed that. I'd assume that this relies on them getting the ground away from Chanrai first. Would be difficult for the council to take away the ground even if they can't keep up with repayments (politically, rather than legally). I'd be surprised if the council have agreed to that though. Link to comment Share on other sites More sharing options...
anothersaintinsouthsea Posted 13 February, 2013 Share Posted 13 February, 2013 Craig Maskell next. Neil Allen: Pompey eye swoop for ex-Brighton and Saints star...... Link to comment Share on other sites More sharing options...
hutch Posted 13 February, 2013 Share Posted 13 February, 2013 Interesting comment on the News site: Fratbrat1:35 PM on 13/02/2013 So it seems that the council has been prepared to swap the guarantee of the parachute payments for the guarantee of owning Fratton, if the trust defaults on repayments. Interesting. So if the worst came to the worst in 13 months time, it would be the council that would be evicting the club from Fratton, and the council that would then be selling it for development for retail or housing use. That would be a tricky thing for their p.r. people to handle! Both were required as part of the August loan offer. If PST can't give both then they have to go back to the full council. Link to comment Share on other sites More sharing options...
ottery st mary Posted 13 February, 2013 Share Posted 13 February, 2013 (edited) Neil Allen: Pompey eye swoop for ex-Brighton and Saints star...... Jimmy Case............ Jimmy could still turn it on:D Mind you he is about 78 years old;) (59) Edited 13 February, 2013 by ottery st mary Link to comment Share on other sites More sharing options...
trousers Posted 13 February, 2013 Share Posted 13 February, 2013 Tomorrow's court list just released..... http://www.justice.gov.uk/courts/court-lists/list-cause-rolls (half way down the page) Can't see Portsmouth FC in there.... @solentsport: #pompey Court appearance tomorrow to set a date for hearing into Fratton Park valuation has been adjourned once more #PST Another scoop for the Saints Web Forum.... Link to comment Share on other sites More sharing options...
Ken Tone Posted 13 February, 2013 Share Posted 13 February, 2013 Both were required as part of the August loan offer. If PST can't give both then they have to go back to the full council. I thought that too, but there were some weasel words to the effect that negotiations over minor aspects or details of the conditions could be delegated to officers/council leader. Calling this minor or a detail is ludicrous of course, but not in pompey language. Link to comment Share on other sites More sharing options...
solentstars Posted 13 February, 2013 Share Posted 13 February, 2013 @solentsport: #pompey Court appearance tomorrow to set a date for hearing into Fratton Park valuation has been adjourned once more #PST Another scoop for the Saints Web Forum.... [/quote yes for 7 days time Link to comment Share on other sites More sharing options...
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