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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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landford.saint

landford.saint

Posted
Posted
Seriously though, are there realy many companys that dont pay bonus'? Everywhere I have worked pay a Xmas bonus as long as the company has reached its targets for the year. Only had one job that had a performance bonus but a bonus is a bonus right?

 

Never had a job that paid a bonus, in 33years of numerous different occupations. Perhaps should have worked harder. (or fiddled the books, but not being a skate I wouldn't know how to.)

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landford.saint

landford.saint

Posted
Posted (edited)

Seriously though, some of you may recall I spoke with a few months back with a man who was an accountant acting for Mandric during his reign over the blue few. Had occasion to speak breifly with him again today.

Summarising what he said as i remember it. He although having not had dealings with PFC since he left still has 'contacts' down there. His view is the that there has been some serious money irregularities going on down there and that a decent forensic examination should bring to light some major fraud issues. He believes HMRC want to make an example of a football club and PFC are a prime target. However the deal to liquidate the club so that persons can do a proper forensic examination may have seen them 'leaned on' so that they let the a proper fraud investigation take place, nailing and making an example of certain directors. He was explaining legalesse but most of it was gobbledygook. However he said that HMRC if they were certain of ther facts were likely to appeal just before the cutoff date. However if they dont fraud examinations would take place. IE PFC are in serious poo either way. He reckons that the charges brought against storrie teller, redbung etc. are just minor charges compared with what will eventually occur.

Edited by landford.saint
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Gorgiesaint

Gorgiesaint

Posted
Posted

The snooze site really is a laugh a minute this morning. AA is using his greek nous to try and get £1m for Diop from AEK Athens.

 

http://www.portsmouth.co.uk/sport/Diop-to-plead-for-Pompey.6404619.jp?CommentPage=1&CommentPageLength=10#comments

 

Only problem is they appear to be paying his wages but don't actually have a valid work permit so he can't get into the country even to train. You couldn't make it up. :lol:

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rallyboy

rallyboy

Posted
Posted

8,000 season tickets for a business that might not see Christmas is quite impressive.

But for a club on the up and about to exit administration it is less so - it depends on how realistic the punters want to be and I certainly wouldn't believe any talk of 'ringfencing' season ticket money - Chanrai has had it away already.

 

With their reduced prices that must mean we have comfortably overtaken them with regard to matchday income.

It's clear that Saints are much better supported but their Prem pricing meant that all of the former owners had a nice slush fund on the go every summer.

 

That cash is greatly reduced so in tandem with the least successful firesale in history I'm not sure how they will be able to honour this cva should it escape the attentions of the taxman.

 

The noose is tightening and the expenditure continues every day.

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angelman

angelman

Posted
Posted

I do love this figure of £15m that they have to raise. That is of course above and beyond any money they actually need to spend on getting a squad on the pitch. AA seems to want his cake and eat it. Fair enough not wanting to sell players off on the cheap, but if the buying club has to support the wages, then he really should be slightly more realistic. In the end, it is just bit of negotiating and he will go on the cheap, unless there is some sort of Dutch auction, because Poopey can't afford to keep him.

 

But I can already envisage the bull from the press next season. Poor Poopey (with their great fans) not being able to field a full squad and reserves for their games and how we are supposed to feel sympathetic about their plight. And how plucky and brave they are. Pah! The press seem to forget that they should have been liquidated immediately when the judge said that they were trading while insolvent.

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saintjay77

saintjay77

Posted
Posted
Never had a job that paid a bonus, in 33years of numerous different occupations. Perhaps should have worked harder. (or fiddled the books, but not being a skate I wouldn't know how to.)

 

Not even a Xmas bonus? I worked at a garage washing and delivering cars for a while and even there I got £20 bonus at Xmas. Best one I had was %15 of a years pay. They messed up on the contract and failed to notice how much OT I put in that year. They were not overly impressed at handing over my bonus. lol

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saintjay77

saintjay77

Posted
Posted
Seriously though, some of you may recall I spoke with a few months back with a man who was an accountant acting for Mandric during his reign over the blue few. Had occasion to speak breifly with him again today.

Summarising what he said as i remember it. He although having not had dealings with PFC since he left still has 'contacts' down there. His view is the that there has been some serious money irregularities going on down there and that a decent forensic examination should bring to light some major fraud issues. He believes HMRC want to make an example of a football club and PFC are a prime target. However the deal to liquidate the club so that persons can do a proper forensic examination may have seen them 'leaned on' so that they let the a proper fraud investigation take place, nailing and making an example of certain directors. He was explaining legalesse but most of it was gobbledygook. However he said that HMRC if they were certain of ther facts were likely to appeal just before the cutoff date. However if they dont fraud examinations would take place. IE PFC are in serious poo either way. He reckons that the charges brought against storrie teller, redbung etc. are just minor charges compared with what will eventually occur.

 

Only problem I see with that is AA and Co are set to be the Liquidizers. If they can bend the facts however they want now whats stopping them do it as liquidators?

 

If they do things the way they have done them so far then the final report will probably suggest that Poopy were actually 100 million in credit and it was all a big mistake. :rolleyes:

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OldNick

OldNick

Posted
Posted
I do love this figure of £15m that they have to raise. That is of course above and beyond any money they actually need to spend on getting a squad on the pitch. AA seems to want his cake and eat it. Fair enough not wanting to sell players off on the cheap, but if the buying club has to support the wages, then he really should be slightly more realistic. In the end, it is just bit of negotiating and he will go on the cheap, unless there is some sort of Dutch auction, because Poopey can't afford to keep him.

 

But I can already envisage the bull from the press next season. Poor Poopey (with their great fans) not being able to field a full squad and reserves for their games and how we are supposed to feel sympathetic about their plight. And how plucky and brave they are. Pah! The press seem to forget that they should have been liquidated immediately when the judge said that they were trading while insolvent.

 

Harry and Avram will be loaning them players to make their squad up.

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Gemmel

Gemmel

Posted
Posted
That cash is greatly reduced so in tandem with the least successful firesale in history I'm not sure how they will be able to honour this cva should it escape the attentions of the taxman.

 

Two points Rallyboy

 

Forget all the banter and bravdo, I don't expect pompey to ever honour the CVA, despite the piteful 20p in the pound and to the people invloved at the moment, it is an irrelevance. There money is ringfenced. If they sell the club, there is extra bunce for them, if not, they keep it going, coughing and spluttering until the parachute payments have all been paid etc etc. They will come woefully short of the 15million transfer fee, so will be 7 - 10 million down by the end of the transfer window, which equates to just 2 months after the CVA would have been ratified for.............. thats the first two months out of the 60 months allocated to paying off the creditors - hardly an inspiring start is it!!

 

That's on the assumption that HMRC don't take this any further, Nobody knows for sure if they will or indeed what there next play will be. The one thing i am personally sure about, it that they do have a next move, there is another play and I don't think it will be in favour of our fishy friends.

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OldNick

OldNick

Posted
Posted
Two points Rallyboy

 

Forget all the banter and bravdo, I don't expect pompey to ever honour the CVA, despite the piteful 20p in the pound and to the people invloved at the moment, it is an irrelevance. There money is ringfenced. If they sell the club, there is extra bunce for them, if not, they keep it going, coughing and spluttering until the parachute payments have all been paid etc etc. They will come woefully short of the 15million transfer fee, so will be 7 - 10 million down by the end of the transfer window, which equates to just 2 months after the CVA would have been ratified for.............. thats the first two months out of the 60 months allocated to paying off the creditors - hardly an inspiring start is it!!

 

That's on the assumption that HMRC don't take this any further, Nobody knows for sure if they will or indeed what there next play will be. The one thing i am personally sure about, it that they do have a next move, there is another play and I don't think it will be in favour of our fishy friends.

Going back to when they were about to be wound up, PS gave the registrar indications of incoming money and a valuation of the squad.Does anybody recall what they were?
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buctootim

buctootim

Posted
Posted

I liked this comment on the PN story. " So how much of the £15m have the Dream Team of Andronikou, Storrie and Lampitt raised so far after working all summer and travelling across Europe? About £165k as compensation for Sowah. Only another £14,835,000 to go".

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angelman

angelman

Posted
Posted
Harry and Avram will be loaning them players to make their squad up.

 

They probably will, and I am sure Harry and Avram would like to help. But not sure it is down to them - more their respective chairmen, and I am not sure whether Gold and Levy will be overly generous, especially if there is a chance that they won't be paid anything for them. Never sure of the rules about loan players. Are you allowed 5 playing for you on the pitch (with more as reserves)? If that is the case, then getting 6 players who are fit and capable of competing in the Championship may be a little tricky. Presumably you need at least twice that number to account for injuries etc so I guess they will go down the route we took and have VERY young players.

 

And quite frankly, who as a professional from a PL club would want to go to Poopey? I can understand those who are sub-20 wanting to go there, as it might be a great shop window for them, but anyone else........ The only way that that would happen is if they got paid a lot and that isn't (??) going to happen.

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angelman

angelman

Posted
Posted

I can't understand them Blue lot about Sowah. Must have been a difficult choice between the two clubs, but look at it from his perspective:

 

1) He is German and young. Maybe he is missing home.

 

2) Hamburg vs Poopey. Hmmm, difficult to decide between the two! One finished 7th in their league (and presumably are in Europe) and the other finished bottom of the league (and are bïtching about not being allowed in Europe*). One has a capacity of over 57000 while the other just struggles to muster over 20,000. One has a UEFA Elite Steadium and one has an elite pile of carp. One had an average attendance last season of 56,278 and the other 18,249.

 

3) One might pay him a decent wage and the other will see how little they can pay him.

 

As I said, must have been a tough choice for the poor lad.

 

 

 

* AA seems to have gone a bit quiet about Europe. Do you think that with such a small squad he has been told to shut up by someone?

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saintjay77

saintjay77

Posted
Posted

 

To be fair its not a bad idea. The league changed the way the reserve leagues are formed the year after we won (or came close to winning) the reserve league when we were still mixed in with prem teams. We were in the CCC but our reserves rocked!!! :facepalm:

 

They changed it and we were mixed with names of teams I dont even know. If all of the so called bigger teams pull out and look to loan more players away then the reserve leagues will be really week and be even less usfull to those that are left in them.

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mcjwills

mcjwills

Posted
Posted
I can't understand them Blue lot about Sowah. Must have been a difficult choice between the two clubs, but look at it from his perspective:

 

1) He is German and young. Maybe he is missing home.

 

2) Hamburg vs Poopey. Hmmm, difficult to decide between the two! One finished 7th in their league (and presumably are in Europe) and the other finished bottom of the league (and are bïtching about not being allowed in Europe*). One has a capacity of over 57000 while the other just struggles to muster over 20,000. One has a UEFA Elite Steadium and one has an elite pile of carp. One had an average attendance last season of 56,278 and the other 18,249.

 

3) One might pay him a decent wage and the other will see how little they can pay him.

 

As I said, must have been a tough choice for the poor lad.

 

 

 

* AA seems to have gone a bit quiet about Europe. Do you think that with such a small squad he has been told to shut up by someone?

 

yeah but the young german has no loyalty to the team that owes him bonus money, and he is being offered regular money by a club in his homeland with potential world cup winners in his team, bit of a difficult decision, play with a world cup winner or for a team that does not pay its bills

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Gemmel

Gemmel

Posted
Posted
hopefully saints are coming up as a lot of big teams are going to drop.....fingers crossed.

 

I could be completely wrong, but i think by the time we get back to the Premiership, Liverpool Man Utd and other big clubs will have been through some sort of financial meltdown (Not necessarily Administration) as well as other European clubs, and they will have put some measures in place to prevent overspending and create more of an even playing field amoungst clubs..... Which would work perfectly for us.

The other side of the coin is that they lock down promotions / relegations before we get there, to try and protect their members.

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Gorgiesaint

Gorgiesaint

Posted
Posted
yaya toure on (apparently) £200k a week..

 

what is the point in that..?

 

I'd heard it was £220k a week as his agent turned down 5 offers including £200k a week before he accepted. It is absolutely crazy and just continues to ruin football.

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OldNick

OldNick

Posted
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I'd heard it was £220k a week as his agent turned down 5 offers including £200k a week before he accepted. It is absolutely crazy and just continues to ruin football.

 

Pompey would have paid him 250k a week under the old regime

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Thedelldays

Thedelldays

Posted
Posted
I'd heard it was £220k a week as his agent turned down 5 offers including £200k a week before he accepted. It is absolutely crazy and just continues to ruin football.

 

is he any better than De Jong...? really..?

will he stand head and shoulders above barry..?

 

I hate man city now..just seem to be going for every player possible...what is the point

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angelman

angelman

Posted
Posted
at long last the players inflated wages are going to bring football to its senses.

Apart from the media coverage I dont miss the PL

 

Unless the big clubs agree to a wage cap it isn't going to change. Whether a wage cap is a restriction of trade and against EU law is another problem. And then why would the likes of Man City agree to one if they can afford to pay more than anyone else? They get an advantage over their rivals. Therefore can never see it happening.

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EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
. . . . The other side of the coin is that they lock down promotions / relegations before we get there, to try and protect their members.

 

I was thinking of replying to this last observation because I'm really wondering if PL football is really that enjoyable? Then Thedelldays somewhat confirms my feelings.

 

I hate man city now..just seem to be going for every player possible...what is the point

 

What really is the point?

 

Is not wanting PL football showing a lack of ambition?

 

Although as long as our owners are as sensible as they seem to be (cue a flaming from somewhere) maybe PL footy might be enjoyable with no wucking forries about money?

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EastleighSoulBoy

EastleighSoulBoy

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Unless the big clubs agree to a wage cap it isn't going to change. Whether a wage cap is a restriction of trade and against EU law is another problem. And then why would the likes of Man City agree to one if they can afford to pay more than anyone else? They get an advantage over their rivals. Therefore can never see it happening.

 

This is where I wonder about Skates winning the cup, Man City (eventually) winning something.

 

Sure I'd be up at Wembley enjoying the day if Saints got there and especially if they won. How would I feel about it though, knowing we had 'bought it'?

 

Presumably the same principle might apply if we storm and win L1?

 

Maybe I have answered my point?

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100%Red&White

100%Red&White

Posted
Posted
This is where I wonder about Skates winning the cup, Man City (eventually) winning something.

 

Sure I'd be up at Wembley enjoying the day if Saints got there and especially if they won. How would I feel about it though, knowing we had 'bought it'?

 

Presumably the same principle might apply if we storm and win L1?

 

Maybe I have answered my point?

 

If Mr Liebherr was throwing buckets loads at us regardless you'd have a point but are we now just living within our means?

 

We got lucky and he cleared our debts and we've been allowed to start again on a level playing field. We just have a big advantage as we get far better attendances and have a first class set-up/facilities compared to most at this level. The same in every league with different sized clubs - if we were in the Premier League right now I'd imagine our level, with support and capacity, would be just above mid-table. Any club capable of 30k-plus crowds at League One level really shouldn't be there.

 

Cortese has stated we need the club to be self-supporting financially, so hopefully we'll get there by being a well-run club.

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bridge too far

bridge too far

Posted
Posted
Unless the big clubs agree to a wage cap it isn't going to change. Whether a wage cap is a restriction of trade and against EU law is another problem. And then why would the likes of Man City agree to one if they can afford to pay more than anyone else? They get an advantage over their rivals. Therefore can never see it happening.

 

Surely there are wage caps in the other European Leagues whose countries are members of the EU?

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EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
If Mr Liebherr was throwing buckets loads at us regardless you'd have a point but are we now just living within our means?

 

We got lucky and he cleared our debts and we've been allowed to start again on a level playing field. We just have a big advantage as we get far better attendances and have a first class set-up/facilities compared to most at this level. The same in every league with different sized clubs - if we were in the Premier League right now I'd imagine our level, with support and capacity, would be just above mid-table. Any club capable of 30k-plus crowds at League One level really shouldn't be there.

 

Cortese has stated we need the club to be self-supporting financially, so hopefully we'll get there by being a well-run club.

 

TBH I was hoping that this line of thought would come up, I just wondered if others felt the same as me about. Thanks.

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Gorgiesaint

Gorgiesaint

Posted
Posted
TBH I was hoping that this line of thought would come up, I just wondered if others felt the same as me about. Thanks.

 

I think the thing with ML is he will fund the purchase of a player or 2 right now which if the club funded it, would cause us to run at a loss. The important factor is we can fund the players wages from our own revenue. To put that into context, Man City are spending £11m a year on Yaya Toure's wages - that alone is a sizeable percentage of their Sky income on a player that is an average to decent PL player. I would love to be able to see their wages to turnover ratio for this coming season, they would put Pompey in the shade.

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angelman

angelman

Posted
Posted
TBH I was hoping that this line of thought would come up, I just wondered if others felt the same as me about. Thanks.

 

Can you run a self-supporting and successful, or rather self-supporting and the best (or at least top 4)? I think probably not.

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hutch

hutch

Posted
Posted
Can you run a self-supporting and successful, or rather self-supporting and the best (or at least top 4)? I think probably not.

The wind of change is blowing through football finance across Europe. It's just a stiff breeze at the moment, but I forecast it will get stronger over the next 5 years.

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Fowllyd

Fowllyd

Posted
Posted
The wind of change is blowing through football finance across Europe. It's just a stiff breeze at the moment, but I forecast it will get stronger over the next 5 years.

 

I think you're right. The present football bubble has been remarkably long-lived, but a bubble it is nonetheless. And bubbles eventually burst.

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rallyboy

rallyboy

Posted
Posted

congratulations to the thread, it's grown and become a beast to control - it's quiet at the moment but you just know that if you wave a stick at it and let it off the lead it will be off again all over the show.

Takeover?

What a crazy idea, should have been locked on day one.

 

I think the taxman needs to give it a special birthday present....

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