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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Chin Strain

Chin Strain

Posted
Posted
Indicate we are insolvent yes but not yet proven by a court of law, that may well come Wednesday - but the club are obviously confident that they can prove they are not insolvent and have the funds to continue at least until the end of the season. Hence signing Tosic.

 

Apparently in August even if we go down we will be due at least £27M, perhaps they are banking on this and obtaining further loans against this, who knows...

 

£15m in wages before the end of June, plus the £11.5m to HMRC. Doesn't leave much room for manoeuvre with Chanrai and Gaydamak does it?

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Goalie66

Goalie66

Posted
Posted
league is irrelevant we are down end of

 

as for the club, I have not been to a home match since these jokers have been in charge and have not put any money whatsoever into the club just for them to trouser.

 

Just wonder, Merovingian, that you are like many Saints fans, last year who fely disenfranchised by their own club.Torn between the allegiance we have at birth with the team we love but not the owners who run the club. I can only assume that is the reason for your declining gates.

 

I suspect that deep down you know that the majority of people on this site are empathetic to YOU the person as you are articulate and reasonable as well as brave.

 

However, I am sure you know that the parallels between us last year and your current circumstance are very different. Our agony was whether we find a buyer.Yours is who the hell would invest in a currupt business with little likely return. While I know you will live in hope that that corruption may be eliminated and a genuine investor may emerge at the eleventh hour. It is unlikely to happen.

 

If as I suspect Pompey go to the wall and the way that the club has been run it deserves to, you my friend do not deserve your club.

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EastleighSoulBoy

EastleighSoulBoy

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Just wonder, Merovingian, that you are like many Saints fans, last year who fely disenfranchised by their own club.Torn between the allegiance we have at birth with the team we love but not the owners who run the club. I can only assume that is the reason for your declining gates.

 

I suspect that deep down you know that the majority of people on this site are empathetic to YOU the person as you are articulate and reasonable as well as brave.

 

However, I am sure you know that the parallels between us last year and your current circumstance are very different. Our agony was whether we find a buyer.Yours is who the hell would invest in a currupt business with little likely return. While I know you will live in hope that that corruption may be eliminated and a genuine investor may emerge at the eleventh hour. It is unlikely to happen.

 

If as I suspect Pompey go to the wall and the way that the club has been run it deserves to, you my friend do not deserve your club.

 

Fair play, but Mero (and the other decent skates on here) lost 'their club' to those charlatans a long while ago.

 

Conversley, none of us has a share in 'our club' but ML & NC have certainly given it, and a lot of pride, back to us.

 

I just can't see anyone anywhere as near as philanthropic as ML bailing the Skates out.

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mcjwills

mcjwills

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Posted
league is irrelevant we are down end of

 

as for the club, I have not been to a home match since these jokers have been in charge and have not put any money whatsoever into the club just for them to trouser.

 

Hey Mero I'm sure if you ask nicely one of the posters on here will let you have one of their old Saints shirt, so when your club goes tits up, you'll be able to say that you have always been a Saints fan and prove it by showing your old Saints Shirt.

 

We will have a new term soon SCLSF (Skate come lately Saints Fans) :)

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Goalie66

Goalie66

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lol = to be honest I was born and bought up in Birmingham, well Redditch just outside. Hence I am travelling upto Redditch to catch one of their home games this season in the conference north. I have prolly been to St Andrews nearly as many times as Fratton Park :)

 

So who do you support?

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mcjwills

mcjwills

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lol = to be honest I was born and bought up in Birmingham, well Redditch just outside. Hence I am travelling upto Redditch to catch one of their home games this season in the conference north. I have prolly been to St Andrews nearly as many times as Fratton Park :)

At least you can go to Notarf Krap and support Birmingham a decent well funded Premiership Team :), knowing most of the money will not be going to the Shysters down the road

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Matthew Le God

Matthew Le God

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i reckon he's found someone with money and substance tbh, they'll be fine now, makes me sick to say.

 

He has said about every takeover i.e. they have money and substance and none have.

 

People with money have money for a reason, they are generally intelligent people. If they weren't they wouldn't have become rich or maintain their wealth for long. Spending millions on Pompey is a sure fire way to lose money, they simply aren't sustainable or a viable investment to make a return on. A Championship sized club cheating to live a Premiership dream on borrowed cash.

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Saint Keith

Saint Keith

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more total rubbish from storrie teller. he's more like comical ali every day

 

i lopved this bit "likely to be agreed within the next 48 hours to enter the next stage of finalising the terms and conditions of a takeover"

 

in other words, we might have made a couple of phone calls, and hopefully this will be enough to satisfy the court

 

what a complete and utter c)unt

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Gemmel

Gemmel

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Posted
more total rubbish from storrie teller. he's more like comical ali every day

 

i lopved this bit "likely to be agreed within the next 48 hours to enter the next stage of finalising the terms and conditions of a takeover"

 

in other words, we might have made a couple of phone calls, and hopefully this will be enough to satisfy the court

 

what a complete and utter c)unt

 

I loved the bit....ive had an email and a phone call

 

Well thats that then....done deal :D

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rallyboy

rallyboy

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well if what he says is true the new owners will be a fortnight too late, they need to agree terms now as Wednesday is the day for facts, 1st March is just the day to announce who they arrest first.

 

Keep up Storrie, it's your fantasy, you need to rewrite that bit of script a bit sharpish.

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Merovingian

Merovingian

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So who do you support?

 

Portsmouth, as I spent a helluva lot of time down here from the age of 2-3 onwards as most of my family were down here, so we used to travel down alot. For some reason I liked Portsmouth immediatley when we were back the old div 2 in 82-83 and started supporting them and buying books etc. Wore a pompey shirt back in brum and took a lot of stick from felllow brummies. Always a soft spot for Brum though and in particular Redditch, I know its not strictly above board not supportting your local team but thats the way it turned out. My old man was a West Brom fan lol....judas !

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InvictaSaint

InvictaSaint

Posted
Posted
http://soccernet.espn.go.com/news/story?id=741852&sec=england&cc=5739

 

skates to be saved in 48 hours - knew they'd squirm out of it.

 

What makes me laugh, other than Storrie's desire to sell this story to the giant media outlet "Soccernet", is the language used in the quotation that constitutes the second paragraph.

 

"Storrie told Soccernet: "The encouraging aspect of the possible takeover is that both sets of lawyers are currently talking. I would anticipate that something is likely to be agreed within the next 48 hours to enter the next stage of finalising the terms and conditions of a takeover.

 

It's all ifs and maybes - "possible takeover", "anticipate" "likely to be agreed". Even then it is all a prelude to entering the "next stage of finalising terms"; it's not even definite that it will conclude!! More stalling for time by Storrie-teller.

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Gorgiesaint

Gorgiesaint

Posted
Posted
http://soccernet.espn.go.com/news/story?id=741852&sec=england&cc=5739

 

skates to be saved in 48 hours - knew they'd squirm out of it.

 

"Confidentiality clauses have been signed so it would be improper for me to discuss the identity of a new owner, but I can say that whoever takes over next will be someone of substance."

 

so its not Al Mirage then!! :D

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mack rill

mack rill

Posted
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The thing is you are the perfect example of why the fans deserve to have their club liquidated as much as the idiots/crooks who have been running it. You happily gloat and boast about the success bought by living beyond your means, you don't care if it's cheating, you don't care if it's been bought with blood money.

 

That is why the main reason I want pompey to go under is to see scum like you crying your eyes out - it's all you deserve.

 

Onist Merovingan,, there not very bitter and twisted, They just want whats best-est for us:smt052

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Goalie66

Goalie66

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"Confidentiality clauses have been signed so it would be improper for me to discuss the identity of a new owner, but I can say that whoever takes over next will be someone of substance."

 

so its not Al Mirage then!! :D

 

Someone of substance is probably The fat Lady.... So no due diligence on a £60 million debt. My clients often take three months on £600,000 deals . If they did not undertake any due diligence then they must be idiots but then again you would have to be to buy PCFC.... So how many idiots are there out there with £60- £300million to throw away...or launder?

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pedg

pedg

Posted
Posted

One interesting thing to note from the article is

 

"The statement of affairs is being presented to the courts on Wednesday, when we shall have a much better idea of proceedings, and also a much better idea about the prospective takeover."

 

So if you believe that they will not be getting money to pay of HMRC before Wednesday and will be presenting the statement of affairs. Given its hard to see how this will not show they have been trading while insolvent you would think they would be trying hard to avoid doing this so slightly odd they appear to be happy for it to be presented to court?

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Goalie66

Goalie66

Posted
Posted
One interesting thing to note from the article is

 

"The statement of affairs is being presented to the courts on Wednesday, when we shall have a much better idea of proceedings, and also a much better idea about the prospective takeover."

 

So if you believe that they will not be getting money to pay of HMRC before Wednesday and will be presenting the statement of affairs. Given its hard to see how this will not show they have been trading while insolvent you would think they would be trying hard to avoid doing this so slightly odd they appear to be happy for it to be presented to court?

 

Look any buyer would want to see the statement of accounts and indeed a much more thorough scrutiny of the business. If Pompey's books show they are insolvent then any buyer would buy them from the liqidator for peanuts.If on the other hand they show that they are not insolvent then they will be able to pay all their debts by Wednesday....but of course we all know that is dependent on a rich investor putting the cash in by Wednesday as equity, not loans as that will only increase their liabilities further.

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Merovingian

Merovingian

Posted
Posted
isnt cubic expression magnier and tabors investment vehicle? i think someone down there has been smoking something waccy. i would be astonished if they got involved in any of this, and they surely wouldnt before administration

 

that does tie in with the rumour thats been doing the rounds for 2 weeks - however I do not believe it so have not given it any credence on here

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pedg

pedg

Posted
Posted

from 2001

 

 

http://www.independent.co.uk/sport/football/premier-league/irish-racing-tycoons-ponder-takeover-bid-for-man-utd-678270.html

The most flamboyant gambler in British horseracing admitted last night to the biggest punt of his career – buying nearly 10 million shares in Manchester United in a move that may herald a bid for the entire club.

The most flamboyant gambler in British horseracing admitted last night to the biggest punt of his career – buying nearly 10 million shares in Manchester United in a move that may herald a bid for the entire club.

J P McManus, who started his working life driving a JCB, said he was the man behind the mystery company, Cubic Expression
, that now controls 6.8 per cent of Manchester United plc.
His partner in the hitherto unknown company, John Magnier
, owns Coolmore, the most valuable stud farm in Europe and, like
Mr McManus, is a longstanding United fan
.

 

 

I thought that cubic expression was a vehicle created by those 2 united fans for the sole purpose of trying to buy Man U. Since that failed has it actually be active at all?

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Saint_Jonny

Saint_Jonny

Posted
Posted

 

thats a great article, seems to know that if pompey die it will be all the directors fault, as well as the various useless owners.

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Saint Keith

Saint Keith

Posted
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total lollage. hopefully the media are beginning to turn against redknapp and the filth down the road

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Goalie66

Goalie66

Posted
Posted

 

Interesting how the media has caught on to what we all here have been saying for ages.Never thought I would ever read an article from the News of the World that actually had long articulate sentences.

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greg_hill

greg_hill

Posted
Posted

Of course, it doesn't matter who is a potential buyer and how much cash they have if it isn't done within he next ten days. Mind you, the way the EPL have bent over for Pompey, I'm sure the formalities will be completed ASAP.

 

"Yes Mister Bin Laden, the fit and proper person procedure has been concluded and approved......"

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