Pompey Takeover Saga

[Gemmel]

Personally I believe they are going 5hit or bust for promotion - If they make it then Baloo will make a return and some more - If they fail then Baloo will cut his losses and the whole sorry debacle will "Bust" !

 

From my fag packet maths, chanarai, has his moeny back and some regardless of what league they are in. Obvioulsy if they go up it would be more, but then they woudl also lose tha parachute payments.

[mack rill]

For a very long time posters have said that Pompey were going to be toast.

This has not happened and with the way events are going they never will be

toast. I think this thread might as well be closed and put into the Golden Posts

part of TSW.

 

You can pizz rite off! S in P Us the Blue Few have had Tin helmets, and Flak jackets on for a year now keepin our heads down in No Mans land, While you pony boys throw sniger, and chortle shells, Now it looks like we might not be toast after all you want to rap it up, Nar way, We haven't found another sugar Daddy yet.

[rallyboy]

if you think I'm wandering out on to the M27 at Junction 9 for a kickabout at Christmas you can think again.

[Saint in Paradise]

You can pizz rite off! S in P Us the Blue Few have had Tin helmets, and Flak jackets on for a year now keepin our heads down in No Mans land, While you pony boys throw sniger, and chortle shells, Now it looks like we might not be toast after all you want to rap it up, Nar way, We haven't found another sugar Daddy yet.

 

:lol: Mack Rill, I thought the thread was a bit slow so I wanted to stir people into action I hope it goes on for a while yet. :lol:

[tony13579]

The sad reality is that Pompey won their court battle with the Hmrc , yet they can't complete the victory because the club isn't even worth 20p in the pound

[gaz]

Chanrai (to a degree, he could have bailed them out if he wanted to) lead the club into administration. Isn't that enough to say he's not fit an proper?

[Dark Munster]

it just seems that by signing players like Kitson and Lawrence AA/Chainrai endgame appears to be liquidation, but stripping whatever assets they can out of the club first over a long period of time

 

To me it seems that they are deliberately making the CVA unworkable for their own ends

Why pay exorbitant wages? If he wasn't eyeing a quick PL return, and only intended to liquidate, why not hire kids paid peanuts to play their last remaining matches?

[Dark Munster]

Chanrai (to a degree, he could have bailed them out if he wanted to) lead the club into administration. Isn't that enough to say he's not fit an proper?

 

Because the bugger temporarily bailed them out while they were trading whilst insolvent in the PL. Without him they almost certainly wouldn't have cheated their way to a second FA Cup final, and probably wouldn't even exist now. So he's definitely unfit and improper!

[Wibble]

This is from an article on Sky Sports regarding the new prospective owners of Liverpool

 

http://www.skysports.com/story/0,19528,12040_6431787,00.html

 

West Ham co-owner David Gold said that debt alone was not an issue, unless like Portsmouth you used it 'to cheat'.

 

Gold said: "One of their [Hicks and Gillett] failures is they haven't delivered their promises. I think that's when the fans turned on them. Once that process started there was no stopping it.

 

"If you are using debt to cheat that's different. You can argue that Portsmouth built debt to cheat.They were buying players and spending extreme amounts of money and building debt.

 

"Portsmouth outbid people to buy those players. Is that not cheating? I see it as a form of cheating."

 

 

 

Oh and according to Solents Twitter

administrators tell us the sale of the club is set to be sanctioned at a Football League board meeting next Thursday.

[stevegrant]

Oh and according to Solents Twitter

administrators tell us the sale of the club is set to be sanctioned at a Football League board meeting next Thursday.

Pretty sure they said that last time, when they (and Leicester) were told to go away and come back again when they actually had the relevant documentation.

[gaz]

Thursday is the new Friday.

[benjii]

This is from an article on Sky Sports regarding the new prospective owners of Liverpool

 

http://www.skysports.com/story/0,19528,12040_6431787,00.html

 

 

 

 

 

Oh and according to Solents Twitter

 

No, no - all clubs with financial problems are exactly the same. PFC didn't cheat - they've been hard done. It's a conspiracy, I tell ya!

[JackFrost]

Does this meeting next Thursday have anything to do with approving the CVA?

Edited 7 October, 2010 by JackFrost

[Saint_John]

Pretty sure they said that last time, when they (and Leicester) were told to go away and come back again when they actually had the relevant documentation.

 

What AA actually said was reported on Radio Solent this morning at 07:20 ish

http://www.bbc.co.uk/iplayer/console/p00bbf9q/Julian_Clegg_07_10_2010

(about 48:18 into the program)

 

Something like :-

The FL and relevant individuals..(unclear)... charged with ...(unclear) reviewing the documentation will be being puting a report together with recommendations to the board... blah blah blah.... I am HOPING their recommendation will be positive.

 

Equally they could come back with further questions, e.g. BVI Companies and Bank Accounts, links to son of Gunrunner etc.

[OldNick]

The new FL chairman was on R5Live the other night and i phoned in with a question regarding how he viewed Pompey loaning out Richie and the like to make room for others, and so dodging the embargo. The researcher said it was a good point and they would call me so i could ask him. The BBc never did. I assume the FL chairman has a veto on the parameters of the questions. I was also going to ask him about his closeness to MM, If I got the chance but i suspect they would have stopped that one.

[dubai_phil]

I lol'd....

 

Wonder if this time next year this list will have added some new names....

 

http://www.telegraph.co.uk/sport/football/teams/liverpool/8048077/Liverpool-takeover-Tom-Hicks-and-George-Gillett-cant-rival-these-disastrous-owners.html

 

I must admit I did look to see if any of the 3 Amigos made it, but I am sure time will add at least Sultan Bin Trump onto this and his predecessor who's name escapes me, but wasn't he something to do with Laundrettes or was it a Car Wash company?

[JackFrost]

I lol'd....

 

Wonder if this time next year this list will have added some new names....

 

http://www.telegraph.co.uk/sport/football/teams/liverpool/8048077/Liverpool-takeover-Tom-Hicks-and-George-Gillett-cant-rival-these-disastrous-owners.html

 

I must admit I did look to see if any of the 3 Amigos made it, but I am sure time will add at least Sultan Bin Trump onto this and his predecessor who's name escapes me, but wasn't he something to do with Laundrettes or was it a Car Wash company?

 

I'm surprised neither Al Faraj or Storrie were there

[positivepete]

And from another blog in the Telegraph

 

http://blogs.telegraph.co.uk/sport/mikenorrish/100012876/liverpool-takeover-harry-redknapp-the-voice-of-the-people/

 

Perhaps we should give Harry the benefit of the doubt though. After all, if anyone’s the expert on football clubs and administration…

[dubai_phil]

I'm surprised neither Al Faraj or Storrie were there

 

Perhaps because the full story hasn't unwound yet?

 

After all who reads a Storrie without an ending?

[Kingsbridge Saint]

Personally I believe they are going 5hit or bust for promotion - If they make it then Baloo will make a return and some more - If they fail then Baloo will cut his losses and the whole sorry debacle will "Bust" !

 

This is so obviously the plan. I can't believe the Football League are standing by while Cheats FC attempt to do the same in the Championship as they did in the PL. Is there any precedence for seeking an agreement with your creditors after trading insolvently whilst still subject to a CVA? Or does AA"s firm cop the bill?

[holepuncture]

This is from an article on Sky Sports regarding the new prospective owners of Liverpool

 

http://www.skysports.com/story/0,19528,12040_6431787,00.html

 

 

West Ham co-owner David Gold said that debt alone was not an issue, unless like Portsmouth you used it 'to cheat'.

 

Gold said: "One of their [Hicks and Gillett] failures is they haven't delivered their promises. I think that's when the fans turned on them. Once that process started there was no stopping it.

 

"If you are using debt to cheat that's different. You can argue that Portsmouth built debt to cheat.They were buying players and spending extreme amounts of money and building debt.

 

"Portsmouth outbid people to buy those players. Is that not cheating? I see it as a form of cheating."

 

 

Oh and according to Solents Twitter

 

I think a number of Chairmen in football kept there opinions to themselves, I remember Gold making it clear he had seen the skates books, but refusing to confirm the name of the club.

 

Society recognises the skates are a stained entity, they will struggle to recover from this.

[FMPR]

I think a number of Chairmen in football kept there opinions to themselves, I remember Gold making it clear he had seen the skates books, but refusing to confirm the name of the club.

 

Society recognises the skates are a stained entity, they will struggle to recover from this.

 

So West Ham £100m in debt bid £13m for Loic Remy is not cheating either? Or willing to buy David Beckham for his neglible wages?

[aintforever]

So West Ham £100m in debt bid £13m for Loic Remy is not cheating either? Or willing to buy David Beckham for his neglible wages?

 

Have you still not learned a thing? Size of debt is not important, it's your ability to service it.

[rallyboy]

so 675 pages in we are still trying to explain basic maths - it's like showing a retriever a card trick.

 

big money in + big money out = okay

small money in + big money out = bad

 

big money in + small money out = Blackpool

big money in + huge money out = Liverpool

[Gemmel]

So West Ham £100m in debt bid £13m for Loic Remy is not cheating either? Or willing to buy David Beckham for his neglible wages?

 

You thick skate... Is it really that hard to understand?

 

I find myself feeling sorry for them until i read things like that

[Whitey Grandad]

so 675 pages in we are still trying to explain basic maths - it's like showing a retriever a card trick.

 

big money in + big money out = okay

small money in + big money out = bad

 

big money in + small money out = Blackpool

big money in + huge money out = Liverpool

 

Succintly put. What were we before and what are we now?

[saintjay77]

So West Ham £100m in debt bid £13m for Loic Remy is not cheating either? Or willing to buy David Beckham for his neglible wages?

 

Wernt the Hammers in trouble because of the financial crash in Iceland and Gold and whats his face came in to rescue them?

 

Do you wish you had a Gold and whats his face to come in and save Pompey?

 

Pompey being £130 mil in debt would have loved to have someone come in and re-finance the debt (which means somewhere alone the line that someone is planning to pay the debt off) but the size of the club is never going to be able to service that level of debt. And those runnig the club at the time should have been aware of it. So to run up that kind of debt by out bidding clubs who lived within there means to win a bit of silverware is in fact cheating.

 

West ham now have £100 mil of debt but they have a plan in place and a budget to keep which in turn makes sure debt is paid off in time. They also have enough fans and revenue to ensure that the large level of debt is servicable. There wage budget may be large but its still affordable while paying off the debt they now have. At no point will they think "ahhh shaft it, lets blow the lot on over prices players and wages so we can win the fa cup and only look to pay back 20% of what we owe"

 

Bit of a difference in the way that the 2 clubs are being or have been run me thinks.

[saintjay77]

Succintly put. What were we before and what are we now?

 

 

Before

Big money in (on selling our best players) + Big money out (on buying lots of not so good players) = crap team head ing downwards

 

Now

Big money in (rich owner but not likly to see much on huge transfer fee's) + Small money out where ever possible = hopefully stability and success.

[suewhistle]

So as an example, headline from today's guardian "Manchester United have posted record losses of £83.6m despite a group operating profit of £100.8m". In that one statement you can see why their fans don't like the Glazers, but also why Pompey are a completely different kettle of fish..

[rallyboy]

Saints 2004 -

big money in - big money out but unwisely spent

 

and now

 

medium money in - medium money out spent wisely, building sensibly.

With a big pot in the corner should we have need.

I would imagine our business model is based on championship income at the moment so it needs to happen sooner rather than later.

 

Pompey's business model could never have worked, it needed Champs League income to keep it propped up with a ground that couldn't generate diddly squat - it was insane and was only ever going to end one way.

It makes Leeds look unfortunate.

The director's should have been sectioned if they ever believed it was viable.

I wonder when it will end?.....

 

Man utd

HUGE money in - HUGE money out -hugely reliant on continued success - one bad season with a 5th place finish and they are in big trouble.

[Weston Super Saint]

So West Ham £100m in debt bid £13m for Loic Remy is not cheating either? Or willing to buy David Beckham for his neglible wages?

 

Are you really a researcher for football manager?

 

Surely even they insist on a basic grasp of maths in order to get the gig?

[Corporate Ho]

Wernt the Hammers in trouble because of the financial crash in Iceland and Gold and whats his face came in to rescue them?

 

Do you wish you had a Gold and whats his face to come in and save Pompey?

 

Pompey being £130 mil in debt would have loved to have someone come in and re-finance the debt (which means somewhere alone the line that someone is planning to pay the debt off) but the size of the club is never going to be able to service that level of debt. And those runnig the club at the time should have been aware of it. So to run up that kind of debt by out bidding clubs who lived within there means to win a bit of silverware is in fact cheating.

 

West ham now have £100 mil of debt but they have a plan in place and a budget to keep which in turn makes sure debt is paid off in time. They also have enough fans and revenue to ensure that the large level of debt is servicable. There wage budget may be large but its still affordable while paying off the debt they now have. At no point will they think "ahhh shaft it, lets blow the lot on over prices players and wages so we can win the fa cup and only look to pay back 20% of what we owe"

 

Bit of a difference in the way that the 2 clubs are being or have been run me thinks.

 

I'd want Gold and Sullivan nowhere near Pompey. Ask Brum fans what they think of them. The idea that they came in to "save" West Ham is laughable. They're only there because they saw an opportunity to try and move WHU to the Olympic Stadium and make a fortune in developing Upton Park. That's why he's always so vocal when there's any talk of another club like Spurs being interested in the Olympic Stadium.

 

On the subject of Pompey's debt you lot take it up or down depending on what suits your agenda. if it's to show how we "cheated" or why no-one will want us it's up to the £130m figure, if it's talk about how we "cheated" the courts or taxman it's that Andronikou inflated that figure and the debt's nowhere near that figure really. Make your minds up.

[Weston Super Saint]

On the subject of Pompey's debt you lot take it up or down depending on what suits your agenda. if it's to show how we "cheated" or why no-one will want us it's up to the £130m figure, if it's talk about how we "cheated" the courts or taxman it's that Andronikou inflated that figure and the debt's nowhere near that figure really. Make your minds up.

 

Corpse proves what a retard he is once again.

 

We don't inflate anything.

 

All we do is quote the figures put out from the Android. That figure seems as fluid as a pint of stella, and changes everytime he needs it to massage the figures required for that week.

 

I guess all this speculation about what Pompey's real true debt is would disappear if only you could manage to publish some accounts.....

[OldNick]

I'd want Gold and Sullivan nowhere near Pompey. Ask Brum fans what they think of them. The idea that they came in to "save" West Ham is laughable. They're only there because they saw an opportunity to try and move WHU to the Olympic Stadium and make a fortune in developing Upton Park. That's why he's always so vocal when there's any talk of another club like Spurs being interested in the Olympic Stadium.

 

On the subject of Pompey's debt you lot take it up or down depending on what suits your agenda. if it's to show how we "cheated" or why no-one will want us it's up to the £130m figure, if it's talk about how we "cheated" the courts or taxman it's that Andronikou inflated that figure and the debt's nowhere near that figure really. Make your minds up.

I agree about Gold etc, they can see the Olympic stadium as a pot of gold.

Your second point is well of the mark. There is no doubt that the debt was in the region of 130m but what people have seen is that AA inflated the football creditors share so that he could get a positive vote on the CVA. I suspect if it ever was to be voted on again the result may be different as many of the creditors may be pretty upset how it is panning out.

When i saw you had posted I had assumed that the FPPT had been passed and you had come on to gloat.I was wrong, and i wonder whether you believe Chanrai will indeed take over?

I myself am surprised he has not done so and gone for the PL again, he has little to lose and loads to gain in comparison IMo

[Corporate Ho]

I agree about Gold etc, they can see the Olympic stadium as a pot of gold.

Your second point is well of the mark. There is no doubt that the debt was in the region of 130m but what people have seen is that AA inflated the football creditors share so that he could get a positive vote on the CVA. I suspect if it ever was to be voted on again the result may be different as many of the creditors may be pretty upset how it is panning out.

When i saw you had posted I had assumed that the FPPT had been passed and you had come on to gloat.I was wrong, and i wonder whether you believe Chanrai will indeed take over?

I myself am surprised he has not done so and gone for the PL again, he has little to lose and loads to gain in comparison IMo

 

The "debt" includes Chainrai's money (covering cash no-one ever actually saw the club receive) £30m odd to Gaydamak for the land around the stadium that's not worth anywhere near that and money to Fahim and Faraj for God knows what. There's absolutely no way the real amount of debt ever reached that level.

 

And why would I "gloat" about Chainrai taking over my club? The guy is scum. The reason he hasn't taken over yet is because the FL aren't happy with him as a prospective owner and are doing their damndest to prevent him. That's why Andronikou (who has done his absolute best to stop any other interested party - and there have been others besides Lever) get anywhere near getting enough info to even contemplate making a bid. And if you think that's far fetched read what the Swindon fans say about him and their experience under his "stewardship." Also, if you think he's going to pour money in to PFC to try and reach the PL you're a bigger bunch of 'tards than even I thought you were

[Weston Super Saint]

The "debt" includes Chainrai's money (covering cash no-one ever actually saw the club receive) £30m odd to Gaydamak for the land around the stadium that's not worth anywhere near that and money to Fahim and Faraj for God knows what. There's absolutely no way the real amount of debt ever reached that level.

 

And why would I "gloat" about Chainrai taking over my club? The guy is scum. The reason he hasn't taken over yet is because the FL aren't happy with him as a prospective owner and are doing their damndest to prevent him. That's why Andronikou (who has done his absolute best to stop any other interested party - and there have been others besides Lever) get anywhere near getting enough info to even contemplate making a bid. And if you think that's far fetched read what the Swindon fans say about him and their experience under his "stewardship." Also, if you think he's going to pour money in to PFC to try and reach the PL you're a bigger bunch of 'tards than even I thought you were

 

So it's true.

 

You really do reap what you sow

[OldNick]

The "debt" includes Chainrai's money (covering cash no-one ever actually saw the club receive) £30m odd to Gaydamak for the land around the stadium that's not worth anywhere near that and money to Fahim and Faraj for God knows what. There's absolutely no way the real amount of debt ever reached that level.

 

And why would I "gloat" about Chainrai taking over my club? The guy is scum. The reason he hasn't taken over yet is because the FL aren't happy with him as a prospective owner and are doing their damndest to prevent him. That's why Andronikou (who has done his absolute best to stop any other interested party - and there have been others besides Lever) get anywhere near getting enough info to even contemplate making a bid. And if you think that's far fetched read what the Swindon fans say about him and their experience under his "stewardship." Also, if you think he's going to pour money in to PFC to try and reach the PL you're a bigger bunch of 'tards than even I thought you were

If I was a billionaire and the majority of my money was covered it would be worth a gamble. The CCC is the weakest it has been for some years and so a well equipped side could easily go up.QPR are doing very well with an average team. Get back to the PL and then Pompey would be saleable for a decent price.

As for Chanrai being scum I think you should really think about it. he is the only reason your club is still around. Had he not given a loan foolishly he would not be near the club and you would have gone at the first court hearing.

[Whitey Grandad]

Man utd

HUGE money in - HUGE money out -hugely reliant on continued success - one bad season with a 5th place finish and they are in big trouble.

 

Oh, if only.

[suewhistle]

On the subject of Pompey's debt you lot take it up or down depending on what suits your agenda.

 

That genuinely made me laugh out loud. Weston has given a summary why..

[Chez]

The "debt" includes Chainrai's money (covering cash no-one ever actually saw the club receive) £30m odd to Gaydamak for the land around the stadium that's not worth anywhere near that and money to Fahim and Faraj for God knows what. There's absolutely no way the real amount of debt ever reached that level.

 

I'm not sure I am fully up to speed, but why is there so much Chanrai hostility from you skates. Wasn't it his original loan that bided the club much needed time and pretty much saved the club? Also isn't there a second loan in the form or a £6m cash injection listed in the latest administrators report from the UHY Hacker guys? Was that very generous and life saving loan not from Chanrai as well? Or is the second loan the only one that really took place?

[JackFrost]

I'm not sure I am fully up to speed, but why is there so much Chanrai hostility from you skates. Wasn't it his original loan that bided the club much needed time and pretty much saved the club? Also isn't there a second loan in the form or a £6m cash injection listed in the latest administrators report from the UHY Hacker guys? Was that very generous and life saving loan not from Chanrai as well? Or is the second loan the only one that really took place?

 

Combination of two things I suspect.

 

1) because they know he is merely an asset stripper.

 

2) More of the fans have finally discovered that the gross financial mismanagement of their club wasn't the PL's fault after all.

[saintjay77]

I'd want Gold and Sullivan nowhere near Pompey. Ask Brum fans what they think of them. The idea that they came in to "save" West Ham is laughable. They're only there because they saw an opportunity to try and move WHU to the Olympic Stadium and make a fortune in developing Upton Park. That's why he's always so vocal when there's any talk of another club like Spurs being interested in the Olympic Stadium.

 

On the subject of Pompey's debt you lot take it up or down depending on what suits your agenda. if it's to show how we "cheated" or why no-one will want us it's up to the £130m figure, if it's talk about how we "cheated" the courts or taxman it's that Andronikou inflated that figure and the debt's nowhere near that figure really. Make your minds up.

 

 

TBF I have always quoted the £130 Mil figure that it was believed the debt had risen too. I dont think AA has come up with the actual facts as to where the finances are or ever got to so it seems to me that the £130 mil figure is as good as any to go by.

 

Maybe if AA came up with a half decent CVA that people would honestly agree to he wouldnt have had to massage the figures to make it look like there was £130 mil of debt?

 

You might not want Gold and Sullivan anywhere near your club but they have done more for football clubs than any your recent lot put together. If they had an idea to come in, build you (or take over) a new stadium to get more of the blue few in to help pay off the (up to) £130 mil of debt leaving you in a stronger position with your creditors not being fleeced for as little as 20p per pound. Keeping you in the CCC and giving you a team that has a good chance of moving forwards without over spending. All for cashing in on some well needed re-development of FP. You seriously wouldnt want them anywhere near your club?

 

I may be wrong but that sounds to me like a much better option than you have been used to in the past few years and if its something the blue few turn there noses up it may explain why they are where they are.

[mcjwills]

Combination of two things I suspect.

 

1) because they know he is merely an asset stripper.

 

2) More of the fans have finally discovered that the gross financial mismanagement of their club wasn't the PL's fault after all.

 

 

 

What it's not the PL's fault, I heard its the PL's fault Ed Balls is not Shadow Chancellor

[mack rill]

I see the cheating Bastards down the road have the Hermanator pledging his future with a twelve month deal, Players a still coming and going. Not bad this administration malarkey.

[SW5 SAINT]

So West Ham £100m in debt bid £13m for Loic Remy is not cheating either? Or willing to buy David Beckham for his neglible wages?

 

or pay Van Nistleroy 100k per week

[Dark Munster]

I lol'd....

 

Wonder if this time next year this list will have added some new names....

 

http://www.telegraph.co.uk/sport/football/teams/liverpool/8048077/Liverpool-takeover-Tom-Hicks-and-George-Gillett-cant-rival-these-disastrous-owners.html

 

I must admit I did look to see if any of the 3 Amigos made it, but I am sure time will add at least Sultan Bin Trump onto this and his predecessor who's name escapes me, but wasn't he something to do with Laundrettes or was it a Car Wash company?

 

Truly a list of owners from hell. Any one of that dastardly bunch would be a fit and proper new owner for Cheats FC.

[Chin Strain]

I agree about Gold etc, they can see the Olympic stadium as a pot of gold.

 

 

But is the pot of gold for them personally or are will it be used to pay off the £100m debt? From where I'm sitting, WHU are in a position whereby they're trying to clear their debt. If moving to the Olympic Stadium and developing Upton Park is a way to assist with repaying the debt, then that seems fine to me. If it's to line their pockets, then not fine. At least, in the face of it, they're trying to repay their debts, unlike our fishy friends.

 

Of course relegation could mean admin.......

[redkeith]

Getting rid of a promising youngter on £2-3 K a week, so that you can bring in yet another experienced pro on £10K plus is financial genius. I seem to remember they did a similar thing in the 70's when they released Sir Mick Mills.

 

They didn't meet the transfer target for the CVA, even though AA reduced it by 3 million, they are 3 or 4 thousand below the CVA attendance target, and the wage bill is 2 or 3 million above the CVA target.I'm not suprised that the league are taking their time in giving the the golden share. The three year plan seem to be **** or bust.

[saintjay77]

But is the pot of gold for them personally or are will it be used to pay off the £100m debt? From where I'm sitting, WHU are in a position whereby they're trying to clear their debt. If moving to the Olympic Stadium and developing Upton Park is a way to assist with repaying the debt, then that seems fine to me. If it's to line their pockets, then not fine. At least, in the face of it, they're trying to repay their debts, unlike our fishy friends.

 

Of course relegation could mean admin.......

 

Exactly, I've no doubt that they intend to turn a profit at some point but they are at least building a plan that inflicted paying off the debt on route. If they wanted nothing but profit they could have guided them into admin and got an agreement to only pay 20% of the debt off. So the ho might not think much of gold and Sullivan but there are a whole lot more honourable than any of the sharks pompey have had at their club.

[OldNick]

Exactly, I've no doubt that they intend to turn a profit at some point but they are at least building a plan that inflicted paying off the debt on route. If they wanted nothing but profit they could have guided them into admin and got an agreement to only pay 20% of the debt off. So the ho might not think much of gold and Sullivan but there are a whole lot more honourable than any of the sharks pompey have had at their club.

Gold also offered to give them a loan when they were in the PL. That was self interest of course as if Pompey went out of existance WHU were in danger of being relegated.