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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Goalie66

Goalie66

Posted
Posted

The FA Cup rules are quite ambiguous with respect to what would happen if Pompey folded. Seems the Professional Game board have the power to make that decison..whoever they are!!!

 

If any Club when applying to enter the Competition, or at any time during the course of the

Competition becomes subject to any of the following insolvency events:

(i) a manager, receiver or administrative receiver appointed in respect of that Club or

any part of its undertaking or assets;

(ii) an administration order made in respect of that Club;

(iii) a winding up order made in respect of that Club; or

(iv) entering into any arrangement with its creditors or some part of them in respect of the

payment of its debts or part of them as a company voluntary arrangement under the

Insolvency Act 1986 or Scheme of Arrangement under the Companies Act 1985.

that Club must notify the Professional Game Board immediately in writing. The Professional

Game Board will (at its absolute discretion) then decide whether to accept the application

and/or allow that Club to continue to compete in the Competition.

(g) A Club that through the Competition qualifies for a UEFA Competition for the following

season must adhere to the rules and licensing requirements of UEFA applicable to that

season.

(h) Clubs must provide, to The Association, when requested by The Association, a

declaration from the local safety authority or Police that ties are able to be staged at the

capacity stated on the entry form.

6. ENTRY

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Crab Lungs

Crab Lungs

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Posted
I cant work out how they could have walked away from those debts.Just shows they know every trick in thebook to avoid their responsibilites.

 

Typical attitude of an odious little club.

 

I really hope they f()cking rot after we dish out their final humiliation.

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View From The Top

View From The Top

Posted
Posted
thats not true according to Peter Storrie - we have appealed and we are awaiting the response

 

If you had appealed the hearing on the 10th would have been postponed ahead of the appeal and it would show on the High Court website, it doesn't.

 

Surprised that you believe anything that comes from his mouth TBH. I wouldn't trust him to tell me the sun is shining.

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gaz

gaz

Posted
Posted
I wonder where they have that registered, and how can they afford the lawyers?

 

Probably one of those no-win no-fee places....thats the only kind that would touch them, they don't have much (any) hope of winning.

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St Marco

St Marco

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Posted
Pompey still have a squad that should pick up more than 6 points than at least of 3 teams in that list. I think they have Wolves and Hull home and Bolton Burnley away. I have maintained all along they will stay up...unless they go pop or admin calls.

 

May i ask how you come to that conclusion nick?

 

I get what your saying but they are bottom based on over half the seasons results. They have lost more home games then anyone, and have the 2nd worst away record behind Burnley. Their already poor bunch of players has become smaller with their best player leaving and their in form keeper going.

 

They are 7 points adrift the safe spot and have a hard run in of games. They next play Fulham away who have conceeded just 8 goals. They are a tough team to break down. The way Portsmouth play is very much hit up to the lone striker and hope he does something. That won't work there.

 

While Burnley play West Ham at home. They have lost just twice at home and West Ham have won just once away. You would have to say that after the weekend that 7 point gap could turn to 8.

 

Then after that they play Man Utd away, think you can assume they won't be winning that one. again meaning there is a chance the gap could increase further.

They have won just 2 of their last 11 league games. They will have to improve a lot to gain on the teams above them. And you have to say that in the window the teams they are trying to catch have got stronger while they have got weaker. In fact now their league top scorer is Piquionne with just 3 league goals.

 

So i think you have to say that they are really up against it. If they get nothing from the next 2 games they will then have home ties against Sunderland and Stoke. If they lose them then the gap between the bottom three and the teams above 14th becomes big. Meaning the 3 relegation spots would most likely be between the bottom 6 at that point. They then would play Birmingham,Chelsea and Liverpool. Three teams all starting to find form.

 

For the squad they have i cannot see them winning many of their next 10 games

Fulham (A) - loss

Man Utd (A) - loss

Sunderland (H) - draw

Soke (H) - draw

Burnley (A) - loss

Chelsea (H) - loss

Birmingham (H) - draw

Liverpool (A) - loss

Hull (H) - win

Tottenham (A) - loss

 

I can see 6 points or so from the next 10 games, maybe 10 at best. With a 7 point gap already they will obviously not be gaining much if at all.

 

They have a better squad then us, they should beat us, we are a 3rd division team after all. But the players they have are very much mercenaries, players who could not care less about the club. Even less when not being paid.

 

If they survived it would be the greatest escape of all time.

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Gingeletiss

Gingeletiss

Posted
Posted
May i ask how you come to that conclusion nick?

 

I get what your saying but they are bottom based on over half the seasons results. They have lost more home games then anyone, and have the 2nd worst away record behind Burnley. Their already poor bunch of players has become smaller with their best player leaving and their in form keeper going.

 

They are 7 points adrift the safe spot and have a hard run in of games. They next play Fulham away who have conceeded just 8 goals. They are a tough team to break down. The way Portsmouth play is very much hit up to the lone striker and hope he does something. That won't work there.

 

While Burnley play West Ham at home. They have lost just twice at home and West Ham have won just once away. You would have to say that after the weekend that 7 point gap could turn to 8.

 

Then after that they play Man Utd away, think you can assume they won't be winning that one. again meaning there is a chance the gap could increase further.

They have won just 2 of their last 11 league games. They will have to improve a lot to gain on the teams above them. And you have to say that in the window the teams they are trying to catch have got stronger while they have got weaker. In fact now their league top scorer is Piquionne with just 3 league goals.

 

So i think you have to say that they are really up against it. If they get nothing from the next 2 games they will then have home ties against Sunderland and Stoke. If they lose them then the gap between the bottom three and the teams above 14th becomes big. Meaning the 3 relegation spots would most likely be between the bottom 6 at that point. They then would play Birmingham,Chelsea and Liverpool. Three teams all starting to find form.

 

For the squad they have i cannot see them winning many of their next 10 games

Fulham (A) - loss

Man Utd (A) - loss

Sunderland (H) - draw

Soke (H) - draw

Burnley (A) - loss

Chelsea (H) - loss

Birmingham (H) - draw

Liverpool (A) - loss

Hull (H) - win

Tottenham (A) - loss

 

I can see 6 points or so from the next 10 games, maybe 10 at best. With a 7 point gap already they will obviously not be gaining much if at all.

 

They have a better squad then us, they should beat us, we are a 3rd division team after all. But the players they have are very much mercenaries, players who could not care less about the club. Even less when not being paid.

 

If they survived it would be the greatest escape of all time.

 

 

Plus nick.....administration means another -9, oblivion...well, they lose it all:smt036

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Gemmel

Gemmel

Posted
Posted

So what happens now?

 

They have raised 9 million in sales, not sure how much actual cash they will get to see, but certainly enough for a couple of pay days.

 

Winding up petition on the 10th, but apparently they have appealed and waiting for a response. So.....will someone put them into admin in the next week, or will they go for one final throw of the dice and go to trial with HMRC.

 

The problem that I can see, is that the owners have no skin in the game - If they go down the admin route, it's over for them and al mirage has lost one pound. If they fight HMRC, they are at least still in with a chance, but if they lose, that's it.

 

I would imagine that Storrie will be pushing for admin, but may be I'm giving him to much credit.

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Saint Keith

Saint Keith

Posted
Posted

this business with james and dindane is worrying me. its well known that james cant play more than another 10 games without being due another £50k a week, and dindane cant play more than another 8 games without pompey being legally obliged to sign him permanently for £4m

 

problem is, i dont think their owners (whoever they are) give a toss. i reckon they will jsut play them anyway, and add it to the huge amount of debt they've already got, without any intention of paying it, becasue they cant pay the debts they've already got

 

if you're going bust for £80m, might as well go bust for £90m

 

surely though, the dindane thing will be blocked under their transfer embargo?

 

ofcourse, all the above becomes a tad irrelevant if they get liquidated on the 10th :smt036

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dubai_phil

dubai_phil

Posted
Posted
Basinas + Kanu = Basanu- The Holy One on 606: "Manual Fernandes and Kezman completed six-month loans to Pompey just minutes before the window slammed shut, I tell you. Both jet in tomorrow to be unveiled by the club."

 

So how are they going to pay them??? Begovic money?

 

Not to mention the technical fact that the loan window stays open for another month or so

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sidthesquid

sidthesquid

Posted
Posted

According to Poopey on 606 they have signed Kezman & Fernandes till the end of the season - two big name, big salary players. At the same time South Today report that the players haven't been paid and did a feature on the bloke who bought their name fighting off the bailiffs.

Something seriously doesn't add up. Are they just living in a PL-abetted fantasy world till it all goes pop next week, or are they living in a PL-abetted fraudulent world where they keep spending other people's money to cling on in the promised land until another gun-runner bails them out?

Somebody please explain how this can be happening because I am getting seriously worried that we will look back on this magnificent thread & cringe at out own hubris as their new gangster-owner unveils Riquelme at the start of next season

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Saint Keith

Saint Keith

Posted
Posted
Crikey I thought OtteryStMary had been quiet the last couple of days

 

Now we know why.

 

Great plan OSM, nick the cash, buy the club then make them even worse.

 

We salute you

 

would be loltastic to buy them out of administration. make them play in red and white stripes and turn the fratton end over to the gypsies :supz:

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dubai_phil

dubai_phil

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Posted
According to Poopey on 606 they have signed Kezman & Fernandes till the end of the season - two big name, big salary players. At the same time South Today report that the players haven't been paid and did a feature on the bloke who bought their name fighting off the bailiffs.

Something seriously doesn't add up. Are they just living in a PL-abetted fantasy world till it all goes pop next week, or are they living in a PL-abetted fraudulent world where they keep spending other people's money to cling on in the promised land until another gun-runner bails them out?

Somebody please explain how this can be happening because I am getting seriously worried that we will look back on this magnificent thread & cringe at out own hubris as their new gangster-owner unveils Riquelme at the start of next season

 

Insh'allah, no problem habibe, of course the money will come, no problem.

Why you think not paying for some days is bad? ha, in Dubai we no pay people since last September, they love to work for us for nothing just the same as at home.

 

These are just small technical details, come have a coffee, have you seen my Racing Camels?

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ottery st mary

ottery st mary

Posted
Posted
Crikey I thought OtteryStMary had been quiet the last couple of days

 

Now we know why.

 

Great plan OSM, nick the cash, buy the club then make them even worse.

 

We salute you

 

Close to home...:smt070

It is going on all around me:rolleyes:

Moved from London to get away from these peeps;)

 

We know for sure that the cretins at Pompey didn't organise all this..they would not need to:D They have a much easier way of banking millions of others money:)

 

Anyway got to go..The Old Bill want to talk again....Inspector Frost..I am coming .Guv:eek:

 

COYRs

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saint lard

saint lard

Posted
Posted

I'm starting to worry that the last laugh will be on us.

We have had great entertainment at their expense for sometime but for some reason i think it quite possible that they are giiong to get away with the financial mismanagement and come out of the other side.

 

Possibly mullering us along the way, escaping relegation and also exploiting some fanciful loophole that allows them to survive and prosper.

They are as slippery as ****,maybe we are not giving them enough credit for clinging on so long.

 

Please tell me i'm wrong.

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View From The Top

View From The Top

Posted
Posted
I'm starting to worry that the last laugh will be on us.

We have had great entertainment at their expense for sometime but for some reason i think it quite possible that they are giiong to get away with the financial mismanagement and come out of the other side.

 

Possibly mullering us along the way, escaping relegation and also exploiting some fanciful loophole that allows them to survive and prosper.

They are as slippery as ****,maybe we are not giving them enough credit for clinging on so long.

 

Please tell me i'm wrong.

 

Your wrong, they're f*cked.

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saint si

saint si

Posted
Posted

I've been doing some digging in to winding up orders...

 

First of all, all WU orders are published in the London Gazette, as a matter of public record.

 

Here is the original WU order by HMRC:

http://www.london-gazette.co.uk/issues/59312/pages/882

 

And here is the WU order from Grosvenor Basingstoke Properties:

http://www.london-gazette.co.uk/issues/59321/pages/1551

 

Searches on the Gazette's site for "portsmouth city football" should reveal any further additions to the winding up order over the next week...

 

Then there is this guide to winding up a company:

 

http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/howtowindupacompany.pdf

 

I specifically wanted to know what happens if the court rules against them at the hearing on the 10th (assuming HMRC or Grosvenor don't elect to adjourn the hearing)...

 

What happens after the winding-up order is made?

Usually, the official receiver (who is both a civil servant employed in The Insolvency Service and an officer of the court) will be appointed liquidator of the company on the making of a winding-up order. The official receiver has a duty:

 

...

 

as liquidator – to collect and realise all assets and pay all creditors.

 

So if the court grants the WU order... they will be liquidated, and the process will begin immediately. And furthermore, according to the PL's rules, the PL then has the power to suspend the club.

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hutch

hutch

Posted
Posted

Lest we forget, Poops are banned from signing anybody on permanent deals during the window. The "loan" window is still open. So they can still do loan deals, in or out.

 

The ONLY interest was how much money they got in from permanent deals out. And the answer is not enough.

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Saint Keith

Saint Keith

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Posted
My 2p. They will survive until the end of the season but finish bottom. They will beat us in the cup 1-2 at SMS. They will go into administration during the close season and start the CCC season on minus points.

 

agree its possible, but hmrc seem to be pretty certain they dont want that happening. portsmouth have got form for this, so have a lot of other clubs, and hmrc seem to be intent on making one finally stick this time

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PaulSaint

PaulSaint

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Posted
My 2p. They will survive until the end of the season but finish bottom. They will beat us in the cup 1-2 at SMS. They will go into administration during the close season and start the CCC season on minus points.

 

How do you see them surviving the WUO Pancake?

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Pancake

Pancake

Posted
Posted
How do you see them surviving the WUO Pancake?

 

The money they have got in in transfers - it may well be in installments but I'm sure they can sort out and installmet package with the HMRC. I don't believe that Gaydamak Jr is really owed however many millions he says he his and the wages will be covers by someone.

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