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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Gingeletiss

Gingeletiss

Posted
Posted
The have agreed cva in principal, they have an owner, currently stand on 0 points and no official has suggested otherwise.

 

Have they? I must of missed that. I thought the last meeting was to agree on the make up of the creditors committee, and to give the admin team the go ahead to come up with a solid plan for exiting administration with a CVA.

 

That will then have to be agreed by the said committee, which is in no way, a forgone conclusion.

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suewhistle

suewhistle

Posted
Posted
The have agreed cva in principal, they have an owner, currently stand on 0 points and no official has suggested otherwise.

 

That haven't agreed the final CVA or whatever work of fiction Android comes up with, they have a less than enthusiastic owner who just wants his money back and finally, no official will suggest anything. It's a members club (including Leeds, Luton, Bournemouth, Saints, Hull, Burnley etc.) and they will, ultimately, dictate what the policy will be which the officials will THEN implement. As mentioned above, wait until June....

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standy

standy

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The CVA has not as yet been agreed and needs to be voted on. Hence why HMRC have increased their level of claim by imposition of the penalty and somewhat contentious claim re image right related tax. I wonder if this has been done to try to trigger AA to mount a legal challenge. I'm sure HMRC would love to go back to court to challenge the level of the other creditors debt and to revisit the SOA figure as opposed to the current level of debt.

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NickG

NickG

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Have they? I must of missed that. I thought the last meeting was to agree on the make up of the creditors committee, and to give the admin team the go ahead to come up with a solid plan for exiting administration with a CVA.

 

That will then have to be agreed by the said committee, which is in no way, a forgone conclusion.

 

finance not my thing, thought it was agreed in principal but happily accept that is wrong - initial report I heard on solent that day, from accountant in meeting was "this is a very good news day for skate bastards" well almost word for word! Seemed to say everyone was going along with what was offered.

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aintforever

aintforever

Posted
Posted

They have to be punished for the way they have manipulated the system, the same way Leeds did.

 

They have basically engineered the situation so that only Chanrai or Gaydamak could possibly buy the club. Now they have creditors over a barrel because the only way they can get any of their money is if PFC survives to get the parachutes.

 

The people who caused all the debt are calling all the shots and will ultimately make more money out of it. I will be amazed if the FL don't throw the book at them, cheating ****s.

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Channon's Sideburns

Channon's Sideburns

Posted
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Another piece from Matt Slater on the BBC this morning...

 

http://www.bbc.co.uk/blogs/mattslater/2010/05/its_a_fudge_not_a_fairytale.html

 

An interesting insite to the creditors meeting.

 

Have had to resubmit and reword a comment I sent in to that. Someone reported it and it was deemed against 'BBC House Rules'.

 

Just mentioned that Avram should stop whinging and their antics in January when supposedly having their embargo lifted to reduce outgoings, whilst signing Abeyie etc who helped them get to the FA Cup Final...

 

Hellfire, it wasn't that bad......haha :-D

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NickG

NickG

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finance not my thing, thought it was agreed in principal but happily accept that is wrong - initial report I heard on solent that day, from accountant in meeting was "this is a very good news day for skate bastards" well almost word for word! Seemed to say everyone was going along with what was offered.

 

didn't know you could type that!

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Bobbyboy

Bobbyboy

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I will be amazed if the FL don't throw the book at them, cheating ****s.

 

I guess we need to prepare to be amazed, then. Nobody seems really angry with them or wanting to throw the book at them (aside from this thread). I'm very much of the 'they'll get away with it' group now. Not because they're innocent, but because nobody seems interested in applying sanctions or even the law.

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saintkiptanui

saintkiptanui

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I guess we need to prepare to be amazed, then. Nobody seems really angry with them or wanting to throw the book at them (aside from this thread). I'm very much of the 'they'll get away with it' group now. Not because they're innocent, but because nobody seems interested in applying sanctions or even the law.
Agreed, when I bang on about the cheats to my mates they couldn't give a toss, it's just us saints fans who feel angry.
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Gorgiesaint

Gorgiesaint

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Classic Pompey now AA is going to pay Avram more or demand compensation from West Ham if he goes there.I have never read so much deluded cheating rubbish in my life!

 

http://www.guardian.co.uk/football/2010/may/12/portsmouth-avram-grant-west-ham

 

If Avram has 3 years left on his contract then fair enough to demand compensation - but to offer Avram increased terms when they are in the financial postion then are in is just ridiculous. Another example of AA failing to complete his duties correctly.

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rallyboy

rallyboy

Posted
Posted

Graham Taylor gets it, in today's Express -

 

There have been clubs who have been knocked out of the FA Cup by Pompey who had abided by all these regulations. So there is an argument over whether they should really be in this Wembley showpiece.

 

Something inside me says, well done for getting this far. But another part is asking, should you really be there because there are many other clubs who have not got themselves into your position financially and have run themselves properly? So just a little bit of me is uneasy.

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Sevvy

Sevvy

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Posted
Graham Taylor gets it, in today's Express -

 

There have been clubs who have been knocked out of the FA Cup by Pompey who had abided by all these regulations. So there is an argument over whether they should really be in this Wembley showpiece.

 

Something inside me says, well done for getting this far. But another part is asking, should you really be there because there are many other clubs who have not got themselves into your position financially and have run themselves properly? So just a little bit of me is uneasy.

 

At last someone else has seen the light.

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Deano6

Deano6

Posted
Posted
The Premier League have already administered the penalty for this season. Pompey got 9 points knocked off. Any action the Football League takes will be based on next season, when Pompey are in it, not this one.

 

That cant be right, the 9 points was for entering administration not all the other rules they have broken;

 

using unlicensed agents, Azougy acting as shadow director, financial irregularities of Storrie Mandaric and Redknapp for tax evasion! (to be proven).

 

Just because you commit a crime in England doesnt mean you get away with it by moving to Scotland.

 

I think you may find you are very wrong on this point. I think the FL will hit them hard, just a gut feeling. Mind you, I still think they will soon cease to be, that also is a gut feeling.

 

My post was addressing the point of the cut-off date for going into administration, not whether or not they would get any further penalties for other reasons.

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rallyboy

rallyboy

Posted
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Perhaps the first FA cup final in history not to sell out?

That would be another amusing record to add to the defeats and debt level.

 

I do hope Sunday's victorious bus parade is better attended, though with most of the team contracts getting ripped up at 5pm on Saturday it could be a quiet affair.

 

 

 

 

.....Tumbleweed blowing across Southsea common....

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Saint_John

Saint_John

Posted
Posted

Does anyone know whether the SELLAR PROPERTY GROUP mentioned in this link

http://www.e-architect.co.uk/england/portsmouth_stadium_development.htm

 

has any connection to Sellar Properties (Portsmouth-Phase 1) Ltd mentioned in this winding up order at the High Court http://www.hmcourts-service.gov.uk/cms/list_companies_winding.htm

 

(Not before 11:00 am

.....

2677 /2010 Sellar Properties (Portsmouth-Phase 1) Ltd)

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Channon's Sideburns

Channon's Sideburns

Posted
Posted

I know it's been posted before, but it's worth catching up on Matt Slater's blog - especially his responses to the comments posted - this guy was at the creditors meeting....

 

http://www.bbc.co.uk/blogs/mattslater/2010/05/its_a_fudge_not_a_fairytale.html#comments

 

Ok, here's my post (the one not removed...ahem)

 

25. At 5:44pm on 12 May 2010, saintly wrote:

Portsmouth's actions when they had their transfer embargo lifted in January should be investigated too.

 

When lifted, they brought in even more players on loan (Abeyie, O'Hara, Rocha, Tosic) - and this was after they were declared insolvent by the Statement of Affairs produced at the High Court.

 

You would think they would be wanting to reduce their outgoings..

 

If the Administrator has to 'cut the club's cloth' now, why has he appointed a new CEO to replace the one still employed as a consultant?

 

Until a new owner is located, surely the CEO position is covered by the Administrator?

 

Still, I hope the fans have a good day out on Saturday - many are embarrassed by the way their club has been run. They didn't ask for this to happen.

 

As far as their future is concerned?

 

Pompey starting the 2010-11 season on nil points in the Championship, without further punishment and with much lower debts and a squad with a playing budget of £10M following a FA Cup Final appearance?

 

I used to believe the term 'cheats never prosper'..

 

------------------------------------------------

 

Matt's response....

 

saintly (25) - You're right to bring that up. The timings of various actions by the board is of utmost interest to HMRC et al. Who did what and when, will be a major part of any investigation. The January loan signings issue is very thorny, particularly the last two as they came after the club passed up the chance to sell players (and therefore alleviate debt) during the transfer window. A lot of goodwill within football disappeared at that point.

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Dark Munster

Dark Munster

Posted
Posted
Do people really expect the club to be bought even if there is a CVA? Is Chainrai going to finance it when there is no buyer on the horizon? I sincerely hope that he looses alot of money in this. I do feel sorry for the fans (well maybe only just a little bit) who have had their club used as some part of vendetta.

 

I don't. They've had 7 or so years in the top flight, an FA Cup success, and possibly another one, all built on money that's either based on maiming people or outright stealing (borrowing with no intention of paying back). I feel sorry for the fans of Burnley, Norwich etc. which are clubs that live within their means and as a result could not compete in the PL.

 

This is what happened to Luton. Docked 30 points for financial irregularities (caused by its previous owners). A precedent surely?

But there's a difference, unfortunately: Luton's crimes occurred while they were in the FL. P****y's occurred during their time in the PL. So the big question is, does the FL have jurisdiction over crimes committed in the PL?

 

Anybody know any Chelsea fans? Could you teach them the chant for Wembley:

 

"Fratton Park is a future block of flats, future block of flats, future block of flats"

Too nice. I'd prefer this chant (repeated for 90 minutes):

 

"CHEATING BASTARDS! CHEATING BASTARDS! CHEATING BASTARDS! CHEATING BASTARDS! CHEATING BASTARDS! CHEATING BASTARDS"

 

didn't know you could type that!

Haven't you read any of my previous posts? :cool:

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Chin Strain

Chin Strain

Posted
Posted
Classic Pompey now AA is going to pay Avram more or demand compensation from West Ham if he goes there.I have never read so much deluded cheating rubbish in my life!

 

They've hardly paid him this season if the reports are true. Bit cheeky to then ask for payment. I suspect he would have been well within his rights to walk months ago for breach of contract.

 

He could redeem himself in my eyes if he walked before the Cup Final. That would be blo ody funny!

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Colinjb

Colinjb

Posted
Posted
On another note, pompey have a nice new away kit. :rolleyes:

 

2i7rcbq.jpg

 

(sorry if already posted, couldn't see it anywhere)

 

Ah, Brown Pink and White, a truly classic combination.:vom:

 

Typical that such a dreadful club would have such horrific kit history.

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EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
Matt Slater's blog with some updated comments from Matt

 

http://www.bbc.co.uk/blogs/mattslater/2010/05/its_a_fudge_not_a_fairytale.html#comments

 

I think Matt is aware of HMRC playing a waiting game and also that they may have a couple of more aces up their sleeves.

 

It was so obvious when they 'fined' the FSBs that it was to try and secure more of the percentage of debt and therby have a say in the outcome of the CVA. Matt, however, is already alluding to the possibility of the FSBs finding even more debt!

 

This game of chess has a way to go yet.

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ericofarabia

ericofarabia

Posted
Posted

THE BULLS#!T CONTINUES !!!!!!!

 

http://news.bbc.co.uk/sport2/hi/football/teams/p/portsmouth/8681619.stm

 

Avram Grant hails Portsmouth FA Cup 'fairytale'

 

 

Grant looks forward to 'miracle' final

 

Portsmouth manager Avram Grant has claimed that his side's run to the FA Cup final has boosted the competition. Grant faces a Chelsea side hoping to complete their first league and FA Cup Double on Saturday.

And Grant believes that victory for the beleaguered south-coast club after a season that saw it enter administration will add to the Cup's mystique.

"Nobody remembers if Chelsea or Man United win the Cup. This final is good for English football," he said.

Grant, who led Chelsea to the 2008 Champions League final during his stint in charge at Stamford Bridge, added: "There will be a final between Chelsea and Manchester United - so what? Chelsea and United is good for the Champions League final. But it doesn't add anything to the FA Cup.

"Everybody remembers when Sunderland beat Leeds United. This is what football in England is about. This is the fairytale," added the Israeli, recalling the 1973 final when the then-second division north east club stunned FA Cup holders Leeds 1-0 at Wembley.

"This is the only place in the world where this can happen.

 

 

Portsmouth finished bottom of the Premier League after a season which saw them change ownership four times and docked nine points after being forced into administration in March.

"The Premier League should be proud of us," Grant added.

"They should go to each and every one of our supporters and say 'you kept the true spirit of the Premier League alive'.

"When I look from the outside I don't believe it. It's impossible. How can we do it this year, go to Wembley with so much pride with our heads held high? This is why I was so happy after the semi-final.

"Tottenham are a team that's scored a lot of goals - goals against Chelsea, Arsenal, Man United - everybody. Against us for 120 minutes, with a lot of injuries and players who couldn't play for us, they couldn't score. We score two and win. It was amazing", said Grant of Pompey's semi-final upset of Spurs.

"All through the Cup I've felt good. We said there are many things that we can't change that happen off the pitch. To be in high spirits with good character on the pitch, this is something we can do."

 

Phucking unbeleivable :rolleyes:

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Danish Saint

Danish Saint

Posted
Posted
THE BULLS#!T CONTINUES !!!!!!!

 

http://news.bbc.co.uk/sport2/hi/football/teams/p/portsmouth/8681619.stm

 

Avram Grant hails Portsmouth FA Cup 'fairytale'

 

 

Grant looks forward to 'miracle' final

 

Portsmouth manager Avram Grant has claimed that his side's run to the FA Cup final has boosted the competition. Grant faces a Chelsea side hoping to complete their first league and FA Cup Double on Saturday.

And Grant believes that victory for the beleaguered south-coast club after a season that saw it enter administration will add to the Cup's mystique.

"Nobody remembers if Chelsea or Man United win the Cup. This final is good for English football," he said.

Grant, who led Chelsea to the 2008 Champions League final during his stint in charge at Stamford Bridge, added: "There will be a final between Chelsea and Manchester United - so what? Chelsea and United is good for the Champions League final. But it doesn't add anything to the FA Cup.

"Everybody remembers when Sunderland beat Leeds United. This is what football in England is about. This is the fairytale," added the Israeli, recalling the 1973 final when the then-second division north east club stunned FA Cup holders Leeds 1-0 at Wembley.

"This is the only place in the world where this can happen.

 

 

Portsmouth finished bottom of the Premier League after a season which saw them change ownership four times and docked nine points after being forced into administration in March.

"The Premier League should be proud of us," Grant added.

"They should go to each and every one of our supporters and say 'you kept the true spirit of the Premier League alive'.

"When I look from the outside I don't believe it. It's impossible. How can we do it this year, go to Wembley with so much pride with our heads held high? This is why I was so happy after the semi-final.

"Tottenham are a team that's scored a lot of goals - goals against Chelsea, Arsenal, Man United - everybody. Against us for 120 minutes, with a lot of injuries and players who couldn't play for us, they couldn't score. We score two and win. It was amazing", said Grant of Pompey's semi-final upset of Spurs.

"All through the Cup I've felt good. We said there are many things that we can't change that happen off the pitch. To be in high spirits with good character on the pitch, this is something we can do."

 

Phucking unbeleivable :rolleyes:

 

That is just more of the same bull from Grant. They've kept this line since admin and it's getting old fast.

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StD

StD

Posted
Posted
http://www.guardian.co.uk/football/2010/may/14/portsmouth-debt-administration-missing-funds

 

 

Oh dear!! Loolks like AA is up to his old shenanigans ( oh what a suprise!) and massaging the debt to arrange the cva... And he's starting to be found out....

 

I believe Gaydamak invested in Canterbury (not alluded to in the guardian article)... I wonder how long until a similar discrepancy is found in Gaydamak's "personal loans".

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redkeith

redkeith

Posted
Posted

On South Today this morning, only 150 ubber fans queing for the 1000 tickets available today.

 

Also, I must say that I like the way that the BBC South studio has been decorated now, with a nice red and white stripped glass background. Must make the blood boil in portsdown.

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dubai_phil

dubai_phil

Posted
Posted
Matt Slater's blog with some updated comments from Matt

 

http://www.bbc.co.uk/blogs/mattslater/2010/05/its_a_fudge_not_a_fairytale.html#comments

 

 

lol at this comment

 

3. At 10:37am on 12 May 2010, WeAreTheMags wrote:

With no offence to the author of this piece (who has been dogged and persevering with his Pompey-related articles this season) why is it taking a journalist to be the only one who - publicly at least - seems intent on investigating this matter and trying to get to the bottom of the who's, why's, where's & how's of this?

 

 

Where is the Premier League & FA investigations? Their silence has been deafening and really quite alarming. Would the football authorities in this country allow if to happen if it was Manchester United or Liverpool - two 'big-name' clubs who's debts are ringing the alarm bells?

 

And the answer...

 

 

Well, actually I believe you will find that for the past 7 years, many football fans and Journalists have been commenting on your situation and your finances. Many articles and threads questioned the spending on players the methodolgy and sources of your finances.

 

Unfortunately, you Few had your heads so far up Storrieteller's ar&e that you never even noticed and this forum and the regular infestations of Few trespassing onto here to "Give it Large" and tell us we were deluded.

 

Enjoy your final curtain call tomorrow.

 

The descent into Hell awaits, that is the price you always pay for doing deals with The Devil.

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