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Pompey Takeover Saga


Fitzhugh Fella

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PMSL. Talk about rewriting history.

 

You lot "didn't blame" anyone? What a ****ing hypocrite. This board was full of various factions blaming Lowe for not investing, Wilde for overspending, Crouch for not putting his own money in etc etc etc.

 

You spent your time trying to do something and we haven't? What, like the Save Saints charity match that no-one bought tickets for. Or a march to the ground (hang on, who's fans have just done that as well?) Or being the first fans group to actually manage to gain a meeting with the Premier League?

 

As for West Ham's parent company, the slight diference there is they actually have other businesses, unlike SLH which was clearly just Southampton FC.

 

As for selling players two weeks ago, we tried to sell various players like Utaka, Mullins and James. No takers. We couldn't sell the ones who would bring in bigger fees for various reasons (Boateng because he's already played for two clubs this season, Belhadj because he was at the ACN).

 

And the reason we're laying some (not all) of the blame with the PL is because they've allowed a bunch of criminals to take our club to the brink of non - existence. If that was happening to your club would you not be saying they had some sort of duty to police whoever takes control of clubs?

 

Get off your ****ing pedestal for once, you smug ****.

 

 

 

Err, isn't the only link to Greg James two years old? Or have I missed something?

 

No they did'nt, the FAPP guidelines are clear ( Go to the BBC website to read them if you are not sure) !

 

The people most culpable for allowing these "criminals" into your club are people being charged with criminal activities themselves!

 

Try your CEO for a start !

 

HTH

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I asked this last night, and will ask it again; if they are found to have been trading insolvently, surely all the talk of 'takeovers' and people offering to sub them is irrelevant ? It doesn't alter the facts presented in the SofA, they might as well claim they are budgeting to win the next EuroMillions roll-over,- it cannot detract from any illegality that may have taken place for the previous 9 months (+).

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Storrie-teller going full-pelt in the media with the 'need 28 extra days to complete due diligence'

 

Keep spinning, arsehole.

 

Quite. The point is there is absolutely no guarantee that at the end of the 28 days, the potential buyer won't turn round and say "no thanks, not with a 10 foot barge pole". All HMRC is interested in now is certainties - something which Storrie-teller has been short of since day 1.

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How exactly is all this going to help....

 

If the PL give them the £12m parachute payment up front to clear the tax

and they sell players now

and others reschedule the debts over a longer period

and by some miracle they see out the season....

 

They then start next season with no money for the year, no playing squad and no hope

 

they'll be in admin before the season starts

 

Is that really worth the PL and FA and FIFA breaking so many rules for?

 

 

It's a 'Face Saver' for the League, nothing more imo

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As for selling players two weeks ago, we tried to sell various players like Utaka, Mullins and James. No takers. We couldn't sell the ones who would bring in bigger fees for various reasons (Boateng because he's already played for two clubs this season, Belhadj because he was at the ACN).

 

You didnt try and sell players at all , you tried brinkmanship and very nearly lost the sale of Bergovic due to fighting over the last few quid.

if you are granted the window opened , are you selling at best price offered even if it is cut price or will you then try all the 'we are not doing a firesale' Storrie ?

You bought the FA cup and have had the memories that came with it, at the same time robbing fans whose clubs played by the rules that same feeling. now the medicine should be administered you are crying like babies (akaStorrie) and trying every trick you can.

I have said all along you will get out of it, and still feel you could avoid relegation. the next 2 games are very winnable and so you could be within touching distance.

The PL is so desperate for their brand to be kept intact and also the likes of Gold who needs the 4 points for West Ham that you will get survival.

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From the Sun:

 

WEST HAM chief David Gold has offered to lend Portsmouth £10million to keep them from going bust.

But the Hammers co-chairman insists the loan would have to be underwritten by the Premier League.

 

Gold said "If Portsmouth asked me for £10m, I would lend it to them so long as the Premier League endorsed it and I was repaid on the agreed date.

 

http://www.thesun.co.uk/sol/homepage/sport/football/2860028/Gold-Ill-lend-Pompey-10m.html#ixzz0fySQMWI2

 

I think I may have spotted the flaw in this plan....

 

Why didn't he buy a couple of their players for £11m? Did he not realise the 4 point issue? Probably not. Too late anyway.

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How exactly is all this going to help....

 

If the PL give them the £12m parachute payment up front to clear the tax

and they sell players now

and others reschedule the debts over a longer period

and by some miracle they see out the season....

 

They then start next season with no money for the year, no playing squad and no hope

 

they'll be in admin before the season starts

 

Is that really worth the PL and FA and FIFA breaking so many rules for?

 

You're right but there is one important point in the PL's plan.

 

Next year PFC will be the Fooball League's problem - not theirs. The PL only has to get PFC through to the end of the season and if they can do that and PFC completes its fixtures, then they will have got our of jail.

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PMSL. Talk about rewriting history.

 

You lot "didn't blame" anyone? What a ****ing hypocrite. This board was full of various factions blaming Lowe for not investing, Wilde for overspending, Crouch for not putting his own money in etc etc etc.

 

You spent your time trying to do something and we haven't? What, like the Save Saints charity match that no-one bought tickets for. Or a march to the ground (hang on, who's fans have just done that as well?) Or being the first fans group to actually manage to gain a meeting with the Premier League?

 

As for West Ham's parent company, the slight diference there is they actually have other businesses, unlike SLH which was clearly just Southampton FC.

 

As for selling players two weeks ago, we tried to sell various players like Utaka, Mullins and James. No takers. We couldn't sell the ones who would bring in bigger fees for various reasons (Boateng because he's already played for two clubs this season, Belhadj because he was at the ACN).

 

And the reason we're laying some (not all) of the blame with the PL is because they've allowed a bunch of criminals to take our club to the brink of non - existence. If that was happening to your club would you not be saying they had some sort of duty to police whoever takes control of clubs?

 

Get off your ****ing pedestal for once, you smug ****.

 

 

 

Err, isn't the only link to Greg James two years old? Or have I missed something?

 

 

haha this is almost as funny as the tripe Storrie comes out with!

 

Yes, most did blame Lowe et al because it was clearly their fault. It was the administrator who tried the "we are 2 seperate factions and shouldnt be docked points" not us, some on here just went along with it because it was a shred of hope but knew it wouldnt happen.

 

You lot bark on like you have the right to survive anything the HMRC, EPL, FIFA throw at you. You broke the rules, owe shed loads of money, brought in players on ridiculous wages and for what? An FA cup that 70% odd fans would now swap back for some form of normality!

 

Oh and, doing your bit? Yeah right! Deep in financial trouble and yet you STILL dont sell out your home games!

 

The reason you didnt sell your players in January is because of the high wages they are on, nothing to do with the fact that they were playing in ACN or whatever.

 

The EPL is NOT to blame, just as the league were not to blame for our troubles. They do the FAPPT based on what facts they are presented with, its then the likes of Storrie and Al-Mirage who spent the money, not the EPL. In fact, surely even you lot can see the one common denominator in all of this...Storrie.

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PMSL. Talk about rewriting history.

 

You lot "didn't blame" anyone? What a ****ing hypocrite. This board was full of various factions blaming Lowe for not investing, Wilde for overspending, Crouch for not putting his own money in etc etc etc.

 

I believe what phil was trying to point was that we actually blamed the people responsible, and not a media conspiracy or the PL which some of your fans are

 

 

And the reason we're laying some (not all) of the blame with the PL is because they've allowed a bunch of criminals to take our club to the brink of non - existence. If that was happening to your club would you not be saying they had some sort of duty to police whoever takes control of clubs?

 

 

The PL are one of the most corrupt, sleazy organisations there are out there, they are now trying to break their own rules to bail you out.

 

How much were the PL involved when Storrie and Redknapp were first appointed in their respective jobs? It was Storrie who wrecked your club, he was the one overseeing the reckless overspending and dodgy dealing Redknapp did to bring players in you could never afford. He was the one who opened the door to all these Crooks from the Middle East. He was also the one who provided the PL with a lot of the information about the current lot that they based their decisions on. . . .

 

As for trying to sell your players in the January transfer window, sorry who was it who denied any reports of a fire sale?

 

Blaming the PL for your current demise is like blaming the stableboy for not closing the door quickly enough - ignoring the fact the horse had long since bolted

Edited by JackFrost
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How exactly is all this going to help....

 

If the PL give them the £12m parachute payment up front to clear the tax

and they sell players now

and others reschedule the debts over a longer period

and by some miracle they see out the season....

 

They then start next season with no money for the year, no playing squad and no hope

 

they'll be in admin before the season starts

 

Is that really worth the PL and FA and FIFA breaking so many rules for?

Agree with that, but for me its deeper than that,

HMRC will be owed 11.5 + 1.15 for this month thats 12.65

Running costs for this month inc wages estimate 3.5

Running cost until the end of the season 3 x 3.5 10.5

Then they have to survive the closed season ???

So I guess they need somewhere in the region of 27-million

to survive the season.

So EPL give them 11-million they then have to sell 16-million of players ??

Boeteng 2.5 max, Belhadj 4/5 max, Willimson 1 James 1 maybe all providing that they can find a club to buy them, and FIFA give permission for the players to play this season, that's 20.5-million so far where is the other 7- million coming from.

And at the end of the day they have to prove Mar 1st that they are SOLVENT that is what the SOA is about do those figure's look like they are?

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Agree with that, but for me its deeper than that,

HMRC will be owed 11.5 + 1.15 for this month thats 12.65

Running costs for this month inc wages estimate 3.5

Running cost until the end of the season 3 x 3.5 10.5

Then they have to survive the closed season ???

So I guess they need somewhere in the region of 27-million

to survive the season.

So EPL give them 11-million they then have to sell 16-million of players ??

Boeteng 2.5 max, Belhadj 4/5 max, Willimson 1 James 1 maybe all providing that they can find a club to buy them, and FIFA give permission for the players to play this season, that's 20.5-million so far where is the other 7- million coming from.

And at the end of the day they have to prove Mar 1st that they are SOLVENT that is what the SOA is about do those figure's look like they are?

But if the window opens do pomey think they are going to get top prices!!!! It is a sale and so the clubs will only buy if the players are cheap or better than they already have.Add in the wages and that is another barrier. I will be amazed if anyone will go out on a limb for any except of course Spurs and all of a sudden West Ham pay over the odds. The club alos should be forced to return their loan players as they are patently playing whilst insolvent.

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Again self interest, it is all about Liverpool getting an advantage. It is the PL putting a spin on it. If the court had been to decide today it would be goodnight, now they have time for other clubs to see the ramifications for them and so are quickly moving to help.

I expect the bewst we can hope for is they get a -9 point deduction.

If the payment is made to the revenue can I assume the court date is dropped and so 'trading while insolvent' will be not brought about?

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Let me make a prediction here based on the above overnight stories of possible takeovers. The court will listen to the possibility of the insolvent club being saved by REAL investment prospects.

 

PFC say the buyers may need 28 days for due diligence which is not unreasonable from a purchasers point of view.

 

The court will look seriously at the evidence put forward. If the interest is genuine and documents to that fact lodged with the court before the hearing I am goint to punt on the club being given another 21 days to develop that REAL interest. My only caveat is that if they are so insolvent (ie FIFA refuse to let them sell assets) the court may wind them up there and then

 

The answer is for anyone wanting to undertake due diligence deposit a non returnable deposit not exceeding 1 month running costs so that period does not see a further deterioration in the insolvent position.

 

So it is takeover completed by 1st March, MONEY WHERE YOUR MOUTH IS or Wound up

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As for the 10-points most people on this board realised that ethically it was just & that we deserved it, the main arguments about it were, that the administrator & legal guys seemed to believe & lead us to believe we would have a case in law. The FL denied the prospective new owners that legal right to appeal because they wouldn't give us the golden share unless we agreed the -10 points. That was the main arguments on here whether we should have had the right to appeal?

As for S**ting ourselves about administration, your dead right, because for a long time It looked like there was no white night out there for us, & when that sky interview happened with Failka well the game really did look up at that time. But we lucked out, mainly because for not more than the amount you owe HMRC ML got himself an almost new 32,000 seat stadium, a decent training facility, and a decent fan base.

but the main argument from Dubai Phil was that we were mainly arguing about the main protagonist's involved He who shall not be mentioned, Wilde thing & Leon Crouch. Who to blame how much involvment etc!

But its taken the vast majority of your fans & fans forums until this week to start looking inwards at what's happened, the blame culture has been aimed at the press(nast T**ts keep reporting the FACTS :rolleyes:) then its the EPL fault etc etc!

Now 2 weeks ago the transfer window closed, your club new it was going to court for a WUP but your official's rolled the dice & instead of selling player's and getting 11.5-million in to pay HMRC & your staff their wages, your officials decided that it would be a good idea to bring in 4 more players to add to the wage bill? Now you rolled the dice it came up the wrong way & all of a sudden you want all the rules changed again.

What I find surprising is you get all uppity about us taking the P**s on our message board, when we had to put up with you lot during the summer taking the P**S, well suck it up, I choose not to go on your message boards & reciprocate because I just think its plainly wrong at this horrendous time for you!

But if you come on here then expect us to gloat a little, well gloat a lot :D

 

Despite the open and seemingly honest comments made by Mero etc (they will suffer through all this) I find the likes of the Ho and his ilk increasingly guiding me to wishing PCFC (or whatever they are called by the time you read this) totally and utterly out of existence.

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Must say this bloke keeps a low profile for a 'billionair' (apparently part of the "Enlightened Billionairs" group on linkedin).

 

According to his profile:

Director

 

Fidco Global Limited

 

(Privately Held; 1-10 employees; Financial Services industry)

March 2008 — Present (2 years )

Fidco Global Limited is a privately held trustee company. Currently holds around six billion euro of assets under management. Expect to see that increase by another six billion euro in the 2008 / 9 year.

Wow 12 Billion euros in assets!! Yet strangely a search on "Fidco Global Limited" appears to only bring up results for his linkedin page, i.e. the only reference on the whole internet (till this post) to "Fidco Global Limited" with its billions in assets is the blokes linkedin page!

 

He is either a very secret billionaire, a puppet or a Walter Mitty no-mark.

 

I've seen the contract that members of the "club" are asked to agree to and it mentions "investment trees", "subscriptions", "referrals", "rebates" and "fees".

 

It does indeed look like a networked marketing scheme with a pyramid structure whereby referrers enjoy benefits.

 

Oh and it's based in Hong Kong. Now where is Chainrai based?

 

Not again surely?

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Again self interest, it is all about Liverpool getting an advantage. It is the PL putting a spin on it. If the court had been to decide today it would be goodnight, now they have time for other clubs to see the ramifications for them and so are quickly moving to help.

I expect the bewst we can hope for is they get a -9 point deduction.

If the payment is made to the revenue can I assume the court date is dropped and so 'trading while insolvent' will be not brought about?

 

I think pompey and the PL are playing a high stakes game of chicken. The PL want pompey to survive till the end of the season and pompey don't want to take the 9 point penalty as the only way they are anywhere near saleable with their level of debt is to be sold as a club that will be in the PL next season.

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David Gold has just been interviewed on Talksport - was pretty honest and admitted in was in his (& West Hams) interest to keep Portsmouth going. He said his first interest was to West Ham.

 

When asked if he would have made the offer if West Ham had been in mid table or challenging for Europe would he have made the offer - 'probably not'

 

However he did make me laugh when he talked about the 20-25k supporters they get at each game - which game was that then?

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Bunch of chancers and cheats full of spin and fake takeover bids.

 

SHOULD NEVER HAVE BEEN GIVEN THE EXTRA 7 DAYS.

 

If I were Bournemouth I'd be going public again with their situation.

 

Taken over - stabilising financially - living within their means - small squad....

 

Is their embargo even raised for free agents? NO

 

Poopey - insolvent - outgoings higher than income - late payers to all and sundry - huge ever increasing squad...

 

Is their embargo raised for frees - YES

 

IT IS IMMORAL, UNFAIR TO OTHER CLUBS AND IT NEEDS TO BE STOPPED

 

NO MORE TIME, NO MORE TRANSFER LEEWAY, NO MORE CHANCES

Edited by Channon's Sideburns
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surely FIFA wont allow this? Transfer window just closed, ample opportunity to sell, they even brought in a couple of loans. Surely FIFA will say something along the lines of.."DENIED"

 

 

The interesting thing is no one is stopping Pompey selling ten players today.

 

For example, they could sell David James to Blackburn by lunchtime.

 

The transfer window is about incoming player registrations, so the problem is James obviously couldn't play for BRFC until August. But they could sell him and lots of other players and attempt to get at least provisional agreements for fees to tell the taxman.

 

This FA/FIFA nonsense is just a smokescreen to give the Paulsgrove divs some other external force to blame because it's all the fault of The Premier League/The Meeeeja/The FA/FIFA/everyone else except Peter Storrie who gets the freedom of the city.

 

I hope they don't go into admin (if that is still possible) yet anyway. They are relegated regardless - eight points off is not going to turn around.

 

They need to go into admin and meltdown next season. It's L1 or worse this lot deserve and the sooner that happens the better.

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Agree with that, but for me its deeper than that,

HMRC will be owed 11.5 + 1.15 for this month thats 12.65

Running costs for this month inc wages estimate 3.5

Running cost until the end of the season 3 x 3.5 10.5

Then they have to survive the closed season ???

So I guess they need somewhere in the region of 27-million

to survive the season.

So EPL give them 11-million they then have to sell 16-million of players ??

Boeteng 2.5 max, Belhadj 4/5 max, Willimson 1 James 1 maybe all providing that they can find a club to buy them, and FIFA give permission for the players to play this season, that's 20.5-million so far where is the other 7- million coming from.

And at the end of the day they have to prove Mar 1st that they are SOLVENT that is what the SOA is about do those figure's look like they are?

You have forgoton the income side of that statement.

1. Gate receipts 2-3 million

2. Sponsorship payments? are they monthly or lump sum?

3. I cant imagine them selling many more shirts

4. That wage bill would be reduced if the players were down the road

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Surely the PL have got to consider that if they loan Pompey money or allow them to sell players outside the transfer window and they then stay up at another team's expense' date=' the relegated team(s) would then have grounds for legal action?[/quote']

 

 

Correct. If the League give Pompey even a million pounds then Burnley, Hull and everyone are well within their rights to say where's my million?

 

Whatever the PL give PFC could equate to the amount Owen Coyle could have spent on players at Burnley meaning he wouldn't have had to leave to go to Bolton, meaning Burnley being more likely to stay up. And so on.

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Surely the PL have got to consider that if they loan Pompey money or allow them to sell players outside the transfer window and they then stay up at another team's expense' date=' the relegated team(s) would then have grounds for legal action?[/quote']

 

If the PL help them in either of those ways there would have to be a points deduction.

 

Otherwise what's the point of having the -9 for going into admin rule if they are just going to bail out any club that looks like they are going into admin?

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Bunch of chancers and cheats full of spin and fake takeover bids.

 

SHOULD NEVER HAVE BEEN GIVEN THE EXTRA 7 DAYS.

 

If I were Bournemouth I'd be going public again with their situation.

 

Taken over - stabilising financially - living within their means - small squad....

 

Is their embargo even raised for free agents? NO

 

Poopey - insolvent - outgoings higher than income - late payers to all and sundry - huge ever increasing squad...

 

Is their embargo raised for frees - YES

 

IT IS IMMORAL, UNFAIR TO OTHER CLUBS AND IT NEEDS TO BE STOPPED

 

NO MORE TIME, NO MORE TRANSFER LEEWAY, NO MORE CHANCES

 

You're quite right but the point of divergence is that Portsmouth are EPL, Bournemouth, Luton, Leeds are all FL... I think it's already been proven time and again on here how bent the EPL are, how they protect their own image and greed before others... it's a disgrace, it's disgusting and the EPL needs to be swept clean with a rather bristly, rather large broom.

 

Over the past few years I've certainly come to realise what all the FL clubs were on about all along... when we were in the Prem, I just considered them bleating about their own misfortunes and gave them little thought. Now, having seen from outside the bubble what a disgusting entity it is and irrespective of our fortune now or when we were skint last year, it's a gravy train that must be derailed. Hopefully Portsmouth's carriage will start the domino's rolling - and I hope for one that particular carriage falls smack bang on top of Scudamore and Richards pot-bellied frames.

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If the PL help them in either of those ways there would have to be a points deduction.

 

Otherwise what's the point of having the -9 for going into admin rule if they are just going to bail out any club that looks like they are going into admin?

 

I think it's safe to say that if there is money from the EPL a 9 point penalty will be the caveat.

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BBC are reporting that FIFA are looking favourable at their request to sell players.

 

Yep it's on the ticker

 

however I can't see many teams being interested in buying players they can't register until August, even at a knock down price if they've gotta pay their wages

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I think if FIFA allowed this, it would open up quite a few cans of worms

Agree with that crystal Palace are in admin, you can see it now Hello FL this is the palace administrator we need some more running cost's, hence we need to sell a couple of players. Now Portsmouth were allowed to do this so I'll just get onto southampton who were intersted in buying Neil Danns :rolleyes:.

If FIFA agree to this then they can just right off there transfer windows & open up a free for all! Even if they agree to selling players, are they going to allow those players to play this season, if not then clubs will not buy now & wait until the closed season. If they are then that opens up possible law suits if those players are directly involved in key moments through the rest of the season. Say Belhadj scores for Sunderland to send Burnley down in the last game of the season, there are just to many negatives to this to let it happen IMHO.

 

SuperMikey 15,141 posts in and this is my first on this thread. Unbelievable.

 

So, if P*mpey do sell their players outside the transfer window and get a 9pt penalty, will they get another 9pt penalty if they then go into administration?

Been thinking the same thing Mickey but knowing the way the EPL are squirming probably not.

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Even if given the green light to sell,

 

Who the hell are the buying clubs going to be.

 

manager 'hey Mr Chairman, I can buy Belhadj for just a couple of million'

Chairman ' OK, how much will he cost in 2 weeks time '

Manager ' err , nothing'

Chairman ' call me again in March then'

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I cannot believe FIFA are going to give them permission....but as someone has already said what good will it do them ?

 

Player valued at £6 million - knowing they are desperate a club offers £2 million - are they going to turn it down ?

 

and if nobody wanted them in January why are they going to want them in February ?

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hopefully FIFA have seen their squirming for what it is, and has chosen to act this way to ensure that they can't use a negative response as an excuse...still can't see much way out for them...only saggychops could possibly want to help them and even his board must be getting a bit wary...

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How exactly is all this going to help....

 

If the PL give them the £12m parachute payment up front to clear the tax

and they sell players now

and others reschedule the debts over a longer period

and by some miracle they see out the season....

 

They then start next season with no money for the year, no playing squad and no hope

 

they'll be in admin before the season starts

 

Is that really worth the PL and FA and FIFA breaking so many rules for?

 

I'm in the camp, that they will be wound up. However, if the above is the final outcome, you will have to factor in all the additional points deductions, that the FL will apply, once the depth of their illegal practices, has been revealed.

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