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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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View From The Top

View From The Top

Posted
Posted
not sure why you are saying that, the pain was waiting for admin to come, now its here there is a sense of relief for alot of us, it maybe and I emphaise maybe a new beginning for us, yes it could be another false dawn but at least we are now at the point of something changing - whether that be for better or worse who knows yet

 

Because you hope that it's new beginning and it's the hope that kills you. :D

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Toadhall Saint

Toadhall Saint

Posted
Posted
not sure why you are saying that, the pain was waiting for admin to come, now its here there is a sense of relief for alot of us, it maybe and I emphaise maybe a new beginning for us, yes it could be another false dawn but at least we are now at the point of something changing - whether that be for better or worse who knows yet

 

I think he's refering to potential more points being deducted - CVA's etc. That in effect could start you next season in the CHAMPIONSHIP on around -15 points.

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OldNick

OldNick

Posted
Posted
The informers prediction was correct. Arabs & Israelies came and went but our informer always knew it wold come to this.
yep and he can give us last weeks lottery numbers.

I will accept he said that the takeover would not happen.I was telling everyone as well as many others that the empire would crumble, 20k crowds do not support multi million pound wage bills.

Anyway FF and you keep slipping in the snippets.

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The9

The9

Posted
Posted
If they go down by 20 points this year I wouldn't put it passed the FL to say at the end of the season.....

 

Your -9 was ineffective in the PL so in the spirit of the game (yes, remember that one?) we are going to reimpose it this season

 

;)

 

It'll have nothing to do with any PL -9 as their justification will have to stand alone on its own merits.

 

Plenty of clubs previously have been given deductions for not having an appropriate CVA to exit administration. They almost certainly won't have one of those by June.

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Channon's Sideburns

Channon's Sideburns

Posted
Posted
storrie has just been seen driving away from fratton in his merc. maybe the adminstrator has arrived and has told him to ferk off

 

Was he heading for Soton Airport? Or the newly formed 'Peoples Republic of Hayling Island'?

 

Ah no. It's therapy. For that shocking assault by a Pompey fan earlier.

 

Thanks Peter, it's been emotional.

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spyinthesky

spyinthesky

Posted
Posted
The thing is Pompey will never die, it will ALWAYS exist. Thanks to the decent fans on here who recognise the appropriate way to act in such circumstances, to the others, I bare no grudges, I'm sorry you have chosen to mimick the very worst Pompey fans you despise so much, to be honest, personally, I've always wanted to be the exact opposite to what I find disgusting, but it's a free country. Besides you probably, genuinely, don't know any better. :(

 

PES

As someone who's view of PFC has been coloured by the significant moronic part of the club's support, I am cheered by Pompey's current state.

However there are, of course, a reasonable number of decent Pompey fans and I have more than a fair degree of sympathy for their current plight

Your assertion that PFC will never die is correct. All of us true fans swear ongoing loyalty to our chosen club and, in fact, adversity often heightens level of support.

I reckon Pompey's hard core support may actually increase next year in the Championship but I fear the loathing level directed this way will increase.

Certainly Pompey used to win hands down in the Hampshire hatred stakes but I'm afraid our fans have reciprocated in more recent years

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Merovingian

Merovingian

Posted
Posted
Because you hope that it's new beginning and it's the hope that kills you. :D

 

cannot says I am persusaded either way, I cannot do anything about it, I cannot affect anything, why worry about it, I am fortunate in that my life does not revolve totally around football, I run a hockey team in fareham, take delight in following my non-league team and have other social activities.

 

A PFC will exist in some shape or form forever more, whether that be a phoenix club or whatever but either way it will exist. I love the rivalry and banter with you guys - will I be annoyed if we go down to the CCC with a 20 point penalty and then get relegated when you get promoted, yes coz then we won't play each other but I think the real fans are more concerned with how they are doing than with how their rivals are doing. That goes for both sides.

 

You had the upper hand for what 27 years, we have had it for prolly 10 years when this is all said done and then it may revert to you, cycles etc etc

 

;)

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Channon's Sideburns

Channon's Sideburns

Posted
Posted
cannot says I am persusaded either way, I cannot do anything about it, I cannot affect anything, why worry about it, I am fortunate in that my life does not revolve totally around football, I run a hockey team in fareham, take delight in following my non-league team and have other social activities.

 

A PFC will exist in some shape or form forever more, whether that be a phoenix club or whatever but either way it will exist. I love the rivalry and banter with you guys - will I be annoyed if we go down to the CCC with a 20 point penalty and then get relegated when you get promoted, yes coz then we won't play each other but I think the real fans are more concerned with how they are doing than with how their rivals are doing. That goes for both sides.

 

You had the upper hand for what 27 years, we have had it for prolly 10 years when this is all said done and then it may revert to you, cycles etc etc

 

;)

 

 

 

Mero, I for one would like your fans to start AFC Pompey, just to show people power against the leeches (Storrie, and well, Storrie) who continues to infect your club.

 

In the meantime, I sneeked into the Press Conference and took a pic of your administrator with me Blackberry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

picture.php?albumid=15&pictureid=316

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Saint Keith

Saint Keith

Posted
Posted
cannot says I am persusaded either way, I cannot do anything about it, I cannot affect anything, why worry about it, I am fortunate in that my life does not revolve totally around football, I run a hockey team in fareham, take delight in following my non-league team and have other social activities.

 

A PFC will exist in some shape or form forever more, whether that be a phoenix club or whatever but either way it will exist. I love the rivalry and banter with you guys - will I be annoyed if we go down to the CCC with a 20 point penalty and then get relegated when you get promoted, yes coz then we won't play each other but I think the real fans are more concerned with how they are doing than with how their rivals are doing. That goes for both sides.

 

You had the upper hand for what 27 years, we have had it for prolly 10 years when this is all said done and then it may revert to you, cycles etc etc

 

;)

 

i knew you stakes were of below average intelligence, but surely you can count to 6?

 

2010 - 2004 = 6 years

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hutch

hutch

Posted
Posted

I've just waded through 25 pages. That'll teach me for going away again for a couple of days. I only wish we'd beat Wycombe as well.

 

Administration was always Chainrai's best option, provided he could get them there. That's been clear since his registered charges were reported. Sure, it was worth a punt trying to find a rich mug that would buy the club as a going concern, and pay him back everything he was owed. But he, and we, knew that was never going to happen. The bit that confused me was why he didn't opt for admin before the first Court appearance, and risk liquidation. But in Court HMRC's Counsel asked the judge to either wind them up immediately or grant them a very short stay of execution. I expect that, somehow, they knew that would be the case.

 

He now holds the freehold to FP, we think, and that is probably legally sound. As an unencumbered development site it is worth, IMO, around £3m - £5m. That's FP only, not the surrounding land which Gayda owns or controls. If the administrator manages to sell the club, and they continue to play football at FP, he gets around £1m a year for 15 years, and still owns the freehold at the end. That's around 5% on his investment. Not bad in the current market, if you ignore the risk (but he took that when he loaned the money originally). If they're liquidated, he only gets the current development value. It's a no-brainer.

 

As I see it, he'll give the administrator a month or so to try and find a new buyer in admin, with as many of the old debts as possible written off. He is reported to have underwritten the administrator's fees, and we think the PL will use future money to pay, or guarantee, football debts, which, it seems, would include wages.

 

I think there is, at the moment, only £5m available in this way (the final payment due for this season). That won't last long. Parachute payments would only become due if Pompey were able to compete in the CCC next season, and I doubt that the administrator is in a position to guarantee that at the moment. Until he can, and the PL or FL (I don't know which one has jurisdiction), believe him, the parachute payments are, or should be, out of reach.

 

So, if they get to the end of the period when the administrator has money coming in, or guarantees, and nobody has bought the club in administration, or is so close to buying the club that they're prepared to put their hands in their pockets and give the liquidator some more cash to continue for a while longer, they'll be back to the drawing board.

 

 

 

The other, more compelling, theory on why they have chosen administration, is that the club is now owned by a chap called Baloo.

 

They want to:

 

Go into administration

Wipe out all of their debts and become debt-free

Get rid of the dead wood on the staff

Find a sensible philanthropic billionaire owner

Invest in the club, it's staff and it's facilities

Rebuild the club from the lower leagues on a five year plan

 

In other words, they want to:

 

Walk like us

 

Talk like us

 

Too - ooo - ooo

 

I think that plan will fail when they get to the "human" bit.

 

And, at what point in time does it become appropriate to stop calling them "Skates" and start calling them "Flounders"?

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StuRomseySaint

StuRomseySaint

Posted
Posted
cannot says I am persusaded either way, I cannot do anything about it, I cannot affect anything, why worry about it, I am fortunate in that my life does not revolve totally around football, I run a hockey team in fareham, take delight in following my non-league team and have other social activities.

 

A PFC will exist in some shape or form forever more, whether that be a phoenix club or whatever but either way it will exist. I love the rivalry and banter with you guys - will I be annoyed if we go down to the CCC with a 20 point penalty and then get relegated when you get promoted, yes coz then we won't play each other but I think the real fans are more concerned with how they are doing than with how their rivals are doing. That goes for both sides.

 

You had the upper hand for what 27 years, we have had it for prolly 10 years when this is all said done and then it may revert to you, cycles etc etc

 

;)

 

10 years???? What school of Maths have you been to?!?!?!?!

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Baldsaint

Baldsaint

Posted
Posted

 

You had the upper hand for what 27 years, we have had it for prolly 10 years when this is all said done and then it may revert to you, cycles etc etc

 

;)

 

 

As others have pointed out it's probably closer to 5 years you've had on top, we were the top club on the south coast for over 40 years, going back to the early 60's.

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Giordano

Giordano

Posted
Posted
He's only a c*nt if you are Skate. He's a hero if you're a Saints fan.

 

I have to thank you for your brilliant pithy comment......"he's only a c*nt if you are a Skate. He's a hero if you're a Saints fan."

 

Oooh its giving me plenty of belly laughs...my thanks sir...made my day for sure!

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Colinjb

Colinjb

Posted
Posted
have all the loans players been sent back by the administrator?? surely that should be the first and easiest thing to cut costs

 

That assumes they were paying them any wages.

 

I wouldn't be surprised if O'Hara's wages are still all paid by Spuds.

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