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Pompey Takeover Saga


Fitzhugh Fella

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So, Phil, is today the day that the magic news will be broken - I thought it was yesterday, but I guess this ITK lark isn't an exact science. I suppose you have until Sunday for some sort of news to be released then you can have your 'I told you so' moment ;)
it it does come to light it will make a few more pages on here
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So, Phil, is today the day that the magic news will be broken - I thought it was yesterday, but I guess this ITK lark isn't an exact science. I suppose you have until Sunday for some sort of news to be released then you can have your 'I told you so' moment ;)

 

Nope, no date on it.

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Portsmouth's future has been uncertain due to a litany of problems, most recently with a dispute between the club's ground owners and the purchasers.The PST claimed Fratton Park was worth about £2.75m - meanwhile, the owner of the grounds, Portpin, claimed its value was closer to the region of between £8m and £11m.

A court date was set and pushed back several times from the end of last year to a hearing finally taking place this month. However, the administrators managed to secure a deal between PST and Portpin shortly after the court hearing to decide the valuation began.

Birch said: "We have cleared the final hurdle: all of the paperwork has now been signed and the sale concluded. It has taken more than 14 months of hard work from all concerned to get here and there were many times over that period when I didn't think we would make it; but we have, and Portsmouth Football Club can once again look forward to the future with optimism.

 

Come on Trev....do what the nice judge said you should do and publish the details of the "deal"... nothing to hide, surely?

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Come on Trev....do what the nice judge said you should do and publish the details of the "deal"... nothing to hide, surely?

 

I am not sure if it is down to Birch, although, I think they have to prepare a formal sign off document, which may or may not include the details.

 

This one sits with pst transparency department - The ones that were going to upload the details of the deal last week.

 

Whatever comes out, the deal is done, but I am convinced there is a reason why they haven't followed through on their own pledge.......I keep having this nagging thought over the 2 million floating charge.......... Which was over and above the fixed charge on fratton park.

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I am not sure if it is down to Birch, although, I think they have to prepare a formal sign off document, which may or may not include the details.

 

This one sits with pst transparency department - The ones that were going to upload the details of the deal last week.

 

Whatever comes out, the deal is done, but I am convinced there is a reason why they haven't followed through on their own pledge.......I keep having this nagging thought over the 2 million floating charge.......... Which was over and above the fixed charge on fratton park.

 

They have posted it online, thing is though it is so transparent that you can't see it!!

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Due to copious amounts of alcohol and one of my puppies getting run over by a driver this got posted in the Man Utd Aston villa thread due to someone saying the skates were talking about expanding already.

 

As its now a fan run club they could sponsor there own seat (we might call it a season ticket) when they have sold all of them the next person in line could then buy a new seat (at B &Q) and put it in the wasteland next to Fratton on building the new stands the new seats could then be installed. that way they will always be sure of forever selling out the ground with the bestest and loudest bell end fans in the country.

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Unsurprising...

 

Dear Sirs,

 

It is not often I feel sufficiently strongly to 'put pen to paper', but the decision by the Football League to deduct 10 points from [the already relegated] Portsmouth Football Club immediately and not from the 2013/2014 playing season has left me angered, bewildered and disillusioned in the game I hold so dearly.

 

From first entering administration to now, PFC has deliberately avoided debts and financial laibilities of some £150m with creditors including local businesses, schools, charities and HMRC. Rather than attempt to repay these debts, the club has continued to abuse its creditors and flout FL rules by signing unaffordable players and irresponsibly paying unsustainable wages. Throughout this time, no attempt was made by the club to pay these bills.

 

The latest debacle has seen the club dilute its previous CVA (without consulting its creditors) such that the return on debt has been reduced from 100% to 20% to 2% of the original. To any reasonable person, failing to comply with the terms of an agreed CVA is absolutely no different to failing to agree a CVA in the first place.

 

Furthermore, the actions of PFC in failing the first CVA is, by the FL's own regulations, an 'insolvency event'. And, by those same regulations, the fact that PFC was already relegated from L1 during this playing season should have seen the points deduction being applied during the 2013 / 2014 playing season.

 

With the decision to apply the points deduction immediately, the Football League has not only let down the creditors of Portsmouth Football Club, it has also let down everyone associated with all of the other member clubs which fall under the Football League's umbrella. It is indeed a sad day for football when a FL member club can buck the system as Portsmouth has and yet escape effectively scot-free without any meaningful punishment being imposed by the game's governing body.

 

Will the Football League be offering a public explanation as to why the decision was made to treat PFC with such leniency when compared to other clubs (Luton, Bournemouth, Leeds, etc) ? Further, will the Football League be consistent in its penalties with any other club that completely ignores its financial responsibilities and obligations in favour of achieving sporting advantage ?

 

Yours sincerely,

 

Gruffalo

 

Thank you for your email.

 

It should be clarified that Portsmouth Football Club were deducted ten points in accordance with Football League rules and regulations when they entered administration. This is when the ten point deduction applies with respect to the Sporting Sanction regulation.

 

For the relevant official statement from The Football League at that time (Feb 2012) please see the following article here http://www.football-league.co.uk/footballleaguenews/20120217/pompey-given-10-point-deduction_2293334_2614922.

 

A further 10 point deduction would become applicable when the club existed administration this season as per The League’s condition of membership as previously outlined last July (e.g. regardless of the timing and the club’s League performance in 2012/13).

 

The Football League issued a statement regarding Portsmouth FC in July 2012, which fully outlined these conditions of membership, including a further points deduction when the club existed administration during the current season. This can be accessed via the League website here http://www.football-league.co.uk/footballleaguenews/20120712/league-board-makes-membership-offer-to-portsmouth_2293334_2847729.

 

In addition we cannot therefore currently issue anything further than our recent statement which can be seen here http://www.football-league.co.uk/footballleaguenews/20130420/portsmouth-exit-administration_2293334_3150287.

 

Thank you for contacting The Football League.

 

Kind Regards

 

Amanda Craig

 

Customer Services Administrator

 

The Football League Limited

Email - enquiries@football-league.co.uk

 

http://www.football-league.co.uk

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As an aside I see that someone who can't work their own phone apparently can't even read the speedo on their car.

 

http://www.bbc.co.uk/news/uk-england-dorset-22263047

 

Harry Redknapp has denied committing two motoring offences in Dorset.

 

 

The Queens Park Rangers manager, of Panorama Road, Poole, is accused of speeding in The Avenue on 23 October last year.

 

 

He is also accused of failing to supply the driver's identity as required under section 172 of The Road Traffic Act.

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that is the smug look of a dog that knows it's got away with tax evasion, motoring offences, and impersonating a football manager.

 

Though I could have sworn that it was Avram who had a panting b!tch down on all fours in the back of his motor....

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Ian Peach ‏@iepeach

New applications outstrip pledge conversions by about 10-1 in post today. #pompey

 

Ian Chiverton ‏@pompeychiv

@iepeach how many pledges in total now Ian?

 

Ian Peach ‏@iepeach

@pompeychiv update at press conference tomorrow I think

 

mike birch ‏@baldmick123PFC

@iepeach Ian I have pledged and will convert using finance option. Can you advise process, timescale etc.

 

Ian Peach ‏@iepeach

@baldmick123PFC You need to check directly with finance company Mick.

 

Ian Peach ‏@iepeach

One other little bit of post to report. The Football League Golden share for PCFC Ltd arrived with us today as well. #pompey

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Unsurprising...

 

I sent an email detailing similar points and got the identical reply to you.

 

I have subsequently written back to Amanda asking why she had not provided the explanation that I asked for, why was the points deduction being made this season instead of next? I pointed out that effectively it therefore constituted no punishment at all and asked whether it was the intention that this points deduction was to be considered a punishment or not.

 

I also said that there was now a precedent set by the FL, that would be copied by any other feckless overspenders who wished to gain an advantage over their rivals by spending money they didn't have on better players and then avoiding points penalties when they came out of Administration. Like you, I insinuated that other clubs who had transgressed to a lesser degree and had been more heavily punished, were likely to feel very aggrieved and that Portsmouth had received more favourable and biassed treatment for some reason.

 

I called them spineless, gutless and a joke.

 

How about others writing to them to express their disgust?

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I sent an email detailing similar points and got the identical reply to you.

 

I have subsequently written back to Amanda asking why she had not provided the explanation that I asked for, why was the points deduction being made this season instead of next? I pointed out that effectively it therefore constituted no punishment at all and asked whether it was the intention that this points deduction was to be considered a punishment or not.

 

I also said that there was now a precedent set by the FL, that would be copied by any other feckless overspenders who wished to gain an advantage over their rivals by spending money they didn't have on better players and then avoiding points penalties when they came out of Administration. Like you, I insinuated that other clubs who had transgressed to a lesser degree and had been more heavily punished, were likely to feel very aggrieved and that Portsmouth had received more favourable and biassed treatment for some reason.

 

I called them spineless, gutless and a joke.

 

How about others writing to them to express their disgust?

 

They are obviously reluctant to correspond about Pompey's situation specifically so I've now tried a different tact with them and 'de-personalised' my query...

 

I've asked them to explain why there are inconsistencies in their 'carry over' policy re: points deductions, highlighting that surely the whole reason for introducing the concept of carrying points over (in other scenarios) is so that clubs don't avoid the punishment simply by being relegated.

 

Will be interesting to see what platitudes they throw at a question fired from a more philosophical angle...

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They are obviously reluctant to correspond about Pompey's situation specifically so I've now tried a different tact with them and 'de-personalised' my query...

 

I've asked them to explain why there are inconsistencies in their 'carry over' policy re: points deductions, highlighting that surely the whole reason for introducing the concept of carrying points over (in other scenarios) is so that clubs don't avoid the punishment simply by being relegated.

 

Will be interesting to see what platitudes they throw at a question fired from a more philosophical angle...

 

As I said before I very much suspect that they had to stick to their, ill thought out, initial statement about the penalty applying this year. Its is obviously always a bit of a murky area in terms of what legal action clubs can take but if the penalty had been moved to next season its possible that pompey might have a case they could pursue given the unambiguous initial statement. If this happens to another club I very much suspect that the league will say something along the lines of "When club X come out of admin having not met their earlier CVA obligations then the points penalty will be applied using the same rules as that used when a club goes into admin". But rather shutting the stable door after the horse has bolted. Indeed I would not be surprised if something like the above was not formally agreed so the league can say "Pompey got away with it but don't any other club try the same".

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As I said before I very much suspect that they had to stick to their, ill thought out, initial statement about the penalty applying this year. Its is obviously always a bit of a murky area in terms of what legal action clubs can take but if the penalty had been moved to next season its possible that pompey might have a case they could pursue given the unambiguous initial statement. If this happens to another club I very much suspect that the league will say something along the lines of "When club X come out of admin having not met their earlier CVA obligations then the points penalty will be applied using the same rules as that used when a club goes into admin". But rather shutting the stable door after the horse has bolted. Indeed I would not be surprised if something like the above was not formally agreed so the league can say "Pompey got away with it but don't any other club try the same".

 

When we said that it wasn't SFC that was in Administration but SLH, thereby technically getting around the points deduction, didn't the FL tell us to accept the punishment or forego the Golden Share?

 

No reason they couldn't do the same to the Fish Mongers down the road.

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When we said that it wasn't SFC that was in Administration but SLH, thereby technically getting around the points deduction, didn't the FL tell us to accept the punishment or forego the Golden Share?

 

No reason they couldn't do the same to the Fish Mongers down the road.

 

 

The thing is that the league were very (too?) specific about the punishment in this case at an early stage so they have rather restricted themselves with what they can now do. Both ours and their scenarios were outside the rules at the time so the league had to decide what to do. The difference is the FL, it appears, decided on the latter to soon.

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@pn_jordan_cross: Presser tomorrow to unveil details of Trust's new regime. Guy set to be unveiled and lots of Qs to be answered. Should be a good 'un #Pompey

 

@pn_jordan_cross: there will be live coverage at http://t.co/es42CGe2jK with all the latest coming out of the presser #Pompey

 

@pn_jordan_cross: Press conference is due to start at 10.30am #Pompey

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The thing is that the league were very (too?) specific about the punishment in this case at an early stage so they have rather restricted themselves with what they can now do. Both ours and their scenarios were outside the rules at the time so the league had to decide what to do. The difference is the FL, it appears, decided on the latter to soon.

 

Kind of agree, but then again, it's the FL's game and they can change their minds and make the rules up as they go along, as they did with us. If the Fish Mongers don't like it or threaten legal action then the FL can threaten to withhold the Golden Share. The FL must know that the Ploppy Support Truss wouldn't play chicken with them on this one and accept any points deduction for next season, just as we did. It looks to me like the FL don't have the balls to do this or the DFCSB's have some kind of hold on them.

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@pn_jordan_cross: Presser tomorrow to unveil details of Trust's new regime. Guy set to be unveiled and lots of Qs to be answered. Should be a good 'un #Pompey

 

@pn_jordan_cross: there will be live coverage at http://t.co/es42CGe2jK with all the latest coming out of the presser #Pompey

 

@pn_jordan_cross: Press conference is due to start at 10.30am #Pompey

 

I bet they don't give full details of the take over deal; such as add-ons and charges on assets.

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Kind of agree, but then again, it's the FL's game and they can change their minds and make the rules up as they go along, as they did with us. If the Fish Mongers don't like it or threaten legal action then the FL can threaten to withhold the Golden Share. The FL must know that the Ploppy Support Truss wouldn't play chicken with them on this one and accept any points deduction for next season, just as we did. It looks to me like the FL don't have the balls to do this or the DFCSB's have some kind of hold on them.

 

As I said the legal situation is a bit murky. I think its fairly clear that the 'owned by the fans now honest' front has helped significantly as the league appear worried about appearing to be nasty to the poor 'owners'.

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Facepalms at the ready...(you'll need at least a dozen for this one)....

http://ryanstillwell.wordpress.com/2013/04/22/you-say-we-werent-punished/

You Say We Weren’t Punished?

Just a few days ago, Portsmouth Football Club became the largest fan-owned English club ever. After a tumultuous 4 years in which Portsmouth endured 2 periods of administration, 3 different points deductions in 3 different leagues in 4 seasons, racking up debts of over £60 million, Portsmouth came out of the darkness into new, sunlit horizons. However, the Football League’s announcement that Portsmouth would be deducted 10 points (despite already being relegated) has enraged football fans up and down the land, crying foul and saying that Portsmouth escaped without punishment. I have one question, are you serious!?

 

Let’s go back to 2009 and set the scene. Portsmouth had just gone into administration after a disastrously short reign under Sulaiman Al-Fahim and were also the first ever Premier League side to enter administration. In an attempt to make ends meet, Portsmouth began a fire-sale of it’s stars. We said goodbye to Jermaine Defoe, Peter Crouch, Niko Kranjcar, Sulley Muntari, Lassana Diarra, Sylvain Distin, Glen Johnson, Sol Campbell, Pedro Mendes and more. Meanwhile, the Premier League deducted 9 points from Portsmouth, leaving them rock bottom of the Premier League (eventually finishing on 19 points). A transfer embargo was also placed on Portsmouth and the club were also barred from playing in Europe (Portsmouth would have been in Europe due to their playing in the FA Cup final in 2010 against League champions, Chelsea). So, Portsmouth had been hit with sanctions, restrictions, point deductions and winding up orders all across the board, and this is still the Premier League.

 

We then dropped into the Championship after finishing bottom of the Premier League. The rest of our star-studded team left, such names as Kevin Prince-Boateng, Jamie O’hara, David James and more. A comparatively normal year followed as Portsmouth tried to halt the slide into financial ruin. In October, it was reported Portsmouth were going to be liquidated in 48 hours and that was it. However, former owner Sacha Gaydamak subsequently reached an agreement that would save the club. Just a few hours later, Portsmouth were out of administration. The rest of the season was uneventful, Portsmouth sat in mid-table obscurity and finished 16th. Many fans thought that was it, Portsmouth were out of trouble and could rebuild in the Championship. You would be forgiven for thinking that. It looked even better for Portsmouth when, in the summer after the 2010-2011 season, they were taken over by Converse Sports Initiative (CSI) and started buying players with actual money. The promising star in all of this, was Erik Huseklepp, from Italian side, Bari. The dream didn’t last long though. In November, news of CSI’s financial troubles became public and they went bust. Subsequently, Portsmouth entered administration again. News of Portsmouth racking up over £60 million worth of debt became public and this time, it looked like there was no way out for the club.

 

The Football League deducted 10 points from Portsmouth upon entering administration in February, sending the club from outside the relegation zone, to rock bottom. This point deduction would ultimately send the club down to League 1 as the team finished less than 10 points away from safety. One of Portsmouth’s many make-or-break days occurred during summer on August 10. Portsmouth had to get rid of every senior player at the club under the agreement made by administrator Trevor Birch. The entire squad had to go, leaving Pompey with not a single player, just a week before the opening day of the new season. At times, that looked like it wasn’t going to happen, with former players holding the club to ransom over money; most notably, Tal Ben Haim and Kanu. Pompey however, again, made it through . It was then a scramble to sign anyone available for the opening game against Bournemouth. With phone calls being made 36 hours before kick-off, it was a truly Sunday league style “do you want a game?” approach.

 

This is where the points deduction comes in. The Football League (in its agreement with the club) said that upon exiting administration, the club would be deducted 10 points. Then the stranglehold of former owner Balrum Chanrai tightened over the club. He was still landowner of Fratton Park and was determined to get more money from it than it was worth. The supporters trust needed to win the case to buy Fratton Park in order to buy the club (before the end of the season due to Football League ruling). The original court case was in December, However, it was adjourned every month until April. The trust won the case, bought the club and exited administration.

 

So, what’s everyone’s problem? The club adhered to Football League rules, bought the club and left administration within the time specified, according to Football League rules. The Football League deducted the points as they said they would.

 

So let’s recap. Pompey have had 3 different point deductions in 3 different leagues in 4 seasons during a period of 2 administrations (the 2nd one, lasting for 14 months). Every single player from the Premier League era had left the club, as had every single player during the Championship era. It’s also worth noting, that during Pompey’s run of 23 games without a win, 2 former Pompey players scored a goal each for AC Milan that led to a 2-0 win over Barcelona. Again, it’s also worth noting that 52 players were used during the League 1 season at Portsmouth, due to the inability to permanently sign a player.

 

So, tell me again, how has Portsmouth Football Club not been punished? Unless you feel that going from the Premier League in 2010 to League 2 in 2013 is perfectly normal. I also want to take this opportunity to say that, the Pompey Supporters Trust is a shining example to other clubs around the country that are currently in trouble (such as Bury and Coventry). The hard work of the thousands of fans led by the new board members has proved that when supporters join together, they can defy all the odds, no matter whose rules they have to play by.

 

So I’ll ask again. Look back at Portsmouth Football Club over the past 4 years, can you honestly say we haven’t been punished? You may not like us that much, but that is no excuse for narrow minded pettiness. We did it, and we did it according to the rules.

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what an interesting new view of history.

Selective would be the polite description, as it carefully glosses over some of the more unsavoury facts, casting pompey as the unfortunate victim in every scenario.

Nice try.

I'll give that 2/10.

 

 

 

 

And then I'll ignore my orginal promise and remark it as 1/50th of that - which I think ends up as a very reasonable .04 out of 10.

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what an interesting new view of history.

Selective would be the polite description, as it carefully glosses over some of the more unsavoury facts, casting pompey as the unfortunate victim in every scenario.

Nice try.

I'll give that 2/10.

 

 

 

 

And then I'll ignore my orginal promise and remark it as 1/50th of that - which I think ends up as a very reasonable .04 out of 10.

 

what-you-did-there-i-see-it.thumbnail.jpg

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Kind of agree, but then again, it's the FL's game and they can change their minds and make the rules up as they go along, as they did with us. If the Fish Mongers don't like it or threaten legal action then the FL can threaten to withhold the Golden Share. The FL must know that the Ploppy Support Truss wouldn't play chicken with them on this one and accept any points deduction for next season, just as we did. It looks to me like the FL don't have the balls to do this or the DFCSB's have some kind of hold on them.

 

The FL didn't make up the rules as they went along in our case, they simply applied their own rules as they stood. Pompey's case is different as there is no rule extant to cover it; as pedg says, the FL jumped too early by specifying the current season and clearly felt they couldn't change that. And I'd agree that the whole "owned by the fans" bit has made something of a difference as well, in that the League would expect a good deal of bad PR to come their way if they did apply the deduction next season.

 

That said, they could do it if they really wanted to.

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Facepalms at the ready...(you'll need at least a dozen for this one)....

http://ryanstillwell.wordpress.com/2013/04/22/you-say-we-werent-punished/

 

What a complete and utter moron he is.

 

I have some Skate fans who are clients of my business and I ask them if it was worth it bearing in mind the repercussions, the short term glory of winning the FA CUp, their short stay in the Premiership with all of those star players they couldn't afford. They all say yes, it was worth it, they will have those memories of their several visits to Wembley to hold dear for the rest of their lives, plus the bragging rights over us.

 

So how about this Skate? Does he think that it was all worth it? If so, then they haven't been punished enough.

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What a complete and utter moron he is.

 

I have some Skate fans who are clients of my business and I ask them if it was worth it bearing in mind the repercussions, the short term glory of winning the FA CUp, their short stay in the Premiership with all of those star players they couldn't afford. They all say yes, it was worth it, they will have those memories of their several visits to Wembley to hold dear for the rest of their lives, plus the bragging rights over us.

 

So how about this Skate? Does he think that it was all worth it? If so, then they haven't been punished enough.

 

The thing that bothers me most about these hastily cobbled together summaries of the last 5 years is that they gloss over the total debt written off and just refer to the CVA2 figure of c.£60m. The greater amount 'lost' in Admin1/CVA1 gets swept under the carpet of history. It's not just the fans that do this, the national media do it too.

 

Hey ho.... What's another c.£100m between friends...

Edited by trousers
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What a complete and utter moron he is.

 

I have some Skate fans who are clients of my business and I ask them if it was worth it bearing in mind the repercussions, the short term glory of winning the FA CUp, their short stay in the Premiership with all of those star players they couldn't afford. They all say yes, it was worth it, they will have those memories of their several visits to Wembley to hold dear for the rest of their lives, plus the bragging rights over us.

 

So how about this Skate? Does he think that it was all worth it? If so, then they haven't been punished enough.

I have banged on about Pompey getting away with for the above reason. The fans say they have been punished but for all the upside they have not had a full downside. The correct balance to my mind would be to lose their rallying point Fratton Park or go into the Conference or worse. They stole the cherished memories from fans of other clubs who would have had the success Pompey had if they had not taken 150m from society. I'm am certain the majority of fans from most clubs who also had been trawling around the lower leagues for decades would accept relegation to L2 and still with a fighting chance for promotion,in exchange for cup wins and 5/6 Wembley visits.

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They stole the cherished memories from fans of other clubs who would have had the success Pompey had if they had not taken 150m from society. I'm am certain the majority of fans from most clubs who also had been trawling around the lower leagues for decades would accept relegation to L2 and still with a fighting chance for promotion,in exchange for cup wins and 5/6 Wembley visits.

 

This is the part I don't get when I see fans of other lower league clubs giving Pompey their support for the takeover. It clearly hasn't dawned on them that they've conned the British public into gifting them an all expenses paid world cruise to the Premier League. They've had a great old jolly on other peoples money and now the likes of Port Vale and Rochdale are welcoming them home as heroes?

 

But of course its all ok as long its not the fans fault, right?

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