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AA -

 

Disappointed that press release came out

Will sit down again tomorrow with Sacha Gaydemak

Hopeful of being back on track in 24 hours

Press release my be premature

All documents signed and executed (except Gaydemak)

As close too coming out of administration as we are to liquidation

"Little way to go before administration"

Needs all parties to consent (incl Gaydemak) to move forward

Need to get closure by Monday/Tuesday (in response to what is the worst case scenario if an agreement cannot be made)

Only pretty confident that will get an agreement

All hinges on Gaydemak

 

(Also did say was going to the game tomorrow - good to see he's doing that rather than trying to sort this out!!)

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Just been on 5live as well. Blame is being put on the gun runner. Deal was thought to be done in Paris this morning but the gun runner wants more then he is being offered. Reporter was reading from a latest statement, liquidation could be just around the corner.

 

South Today just about to run with the story.

 

Flash up the toasters.

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Official portsmouth statement:

 

Sacha Gaydamak Puts Future Of Portsmouth In Jeopardy

Portsmouth Football Club is extremely disappointed to report that it has not yet managed to achieve the exit from Administration, despite the extensive efforts of the Football League, NewCo, the Administrators and their various legal advisors.

 

The process has been extremely complicated and there has been a team of people working night and day to get the deal done. The most difficult aspect has been trying to achieve agreement with Alexandre Gaydamak after the remaining parties have agreed the deal and executed the necessary documents, namely the new owners, the Administrators, the Football League and the creditors.

 

Unfortunately, despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Mr Gaydamak and this has now made the deal impossible to complete.

 

Put simply, despite being offered full payment for the secured part of his debt in accordance with the financial plan approved by the Football League, this morning Mr Gaydamak has demanded a very significant upfront cash payment in order to allow the deal to proceed by releasing his security.

 

All this is in spite of his lawyers going to Paris this morning specifically for the purpose of witnessing his signature to the document agreed yesterday.

 

It is neither in the interests of the club nor its unsecured creditors for such a ransom payment to be made, particularly where the payment is being demanded by one of the authors of the club’s current circumstances.

 

In addition, and equally importantly, all of the business plans submitted and approved by the Football League would be fundamentally damaged by such a requirement placed on the club by Mr Gaydamak.

 

We will provide further information as soon as possible.

 

However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club.

 

We would like to thank the Football League in particular for their support and assistance through this difficult process.

 

All other parties had managed to reach agreement.

 

This has now been undermined by the self-interested actions of one individual. Mr Gaydamak has provided confirmation several times that terms were agreed. However, he has continually changed his position in an attempt to exploit the goodwill of the other parties to the transaction.

 

By now doing this he has shown complete disregard for the supporters, the club and the City of Portsmouth, who had granted him freedom of the city in 2008.

 

His earlier comments when the club went into Administration about doing everything possible to save the club’s future do not appear to reflect his current actions.

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Portsmouth Football Club is extremely disappointed to report that it has not yet managed to achieve the exit from Administration, despite the extensive efforts of the Football League, NewCo, the Administrators and their various legal advisors.

 

The process has been extremely complicated and there has been a team of people working night and day to get the deal done. The most difficult aspect has been trying to achieve agreement with Alexandre Gaydamak after the remaining parties have agreed the deal and executed the necessary documents, namely the new owners, the Administrators, the Football League and the creditors.

 

Unfortunately, despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Mr Gaydamak and this has now made the deal impossible to complete.

 

Put simply, despite being offered full payment for the secured part of his debt in accordance with the financial plan approved by the Football League, this morning Mr Gaydamak has demanded a very significant upfront cash payment in order to allow the deal to proceed by releasing his security.

 

All this is in spite of his lawyers going to Paris this morning specifically for the purpose of witnessing his signature to the document agreed yesterday.

 

It is neither in the interests of the club nor its unsecured creditors for such a ransom payment to be made, particularly where the payment is being demanded by one of the authors of the club’s current circumstances.

 

In addition, and equally importantly, all of the business plans submitted and approved by the Football League would be fundamentally damaged by such a requirement placed on the club by Mr Gaydamak.

 

We will provide further information as soon as possible.

 

However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club.

 

We would like to thank the Football League in particular for their support and assistance through this difficult process.

 

All other parties had managed to reach agreement.

 

This has now been undermined by the self-interested actions of one individual. Mr Gaydamak has provided confirmation several times that terms were agreed. However, he has continually changed his position in an attempt to exploit the goodwill of the other parties to the transaction.

 

By now doing this he has shown complete disregard for the supporters, the club and the City of Portsmouth.

 

His earlier comments when the club went into Administration about doing everything possible to save the club’s future do not appear to reflect his current actions.

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However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club.

 

This would be one of the happiest days of my life.

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The fact that there are 688 pages on this thread shows clearly that a lot of Saints would just implode without the existence of Pompey. Where would the banter, the rivalry and memorable derby's come from if they were liquidated?

 

They would be back in the lower leagues, I'm sure of that. It's perfect really. We get to laugh at them for being liquidated and crying etc, and then we get to laugh at them for being in a lower league than us.

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Liquidation won't happen

 

A deal will be struck and AA/Chanrai will promote themselves as heroes.

 

Even if the best/worst happens, Pompey will be portrayed as hard done by rather than having punched above their weight due to any number of nefarious deals/individuals.

 

In such circumstances I have every sympathy for the decent/reasonable fan but none whatsoever for the large number of scrotes who purport to support the club.

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Cheers skates, I was wondering how I was going to occupy myself until 9 at work and now I have been provided with more loltastic happenings from your joke club.

I'm with the brinksmanship people on this but whatever happens it will probably be an amusing weekend.

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