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Radio Solent interviewed an expert in these matters this afternoon and I believe he said Pompey were due to pay £2m to the administrators in April - under the present circumstances he suspected that they would have to pay this (and their general running costs) out of their own income; he thought that if they failed to pay then they would be in serious trouble.

 

You are right, an insolvency expert who said that if there is no money in the kitty now to pay their way they are in trouble because they have insufficient income to keep going without outside funds and will be in real trouble come April when this £2m is due.

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The good thing about the piece on Solent was also that they made it perfectly clear that Antonov had 75% ownership of CSI, and therefore 75% of Poopey. Not only that but he's Chairman apparently.

 

Solent really did lay it on thick (even played a recording of when Lembit was asked by Loz Herdman at their Forum whether CSI were the 'real deal' or not) - no doubts about it, they know the sh1t's hitting the fan next week...

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Where is the Ho? He should be here, reassuring us Pony Boys that everything is alright in the People's Republic of Turd Town. That he has been reassured by his 'kosher' contact within the club, who he meets socially every couple of weeks or so. That this will all blow over, that we really are clutching at straws and that Messrs Dubious and Ripitov are really good, upstanding, all round eggs and it's all been a misunderstanding.

 

 

Ho?

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You are right, an insolvency expert who said that if there is no money in the kitty now to pay their way they are in trouble because they have insufficient income to keep going without outside funds and will be in real trouble come April when this £2m is due.

 

if this is so are Pompey not once again trading whilst insolvent?

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14,391 at Nottarf Krap.... at £20 per pop (ok, we know that's unlikely) that would only generate £287,820.

 

Players?

 

Henderson - £3k

Ward - £2k

Rocha - £5k

Pearce - £5k

Halford - £10k

Mattock - portion of chips?

Mullins - £15k

Huseklepp - £10k

Norris - £15k

Thorne - portion of chips?

Kitson - £20k

 

Starting eleven today? That's £85k per week. Oh, add on Ben Haim (on the bench) £30k, Mokoena £20k, Benjani £10k, Ashdown £5k, Kanu £20k??

 

£170k per week (just a guess) - £680k per month.

 

There's the line in the sand.

 

Yeah...course they're breaking even..... :lol: :lol:

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14,391 at Nottarf Krap.... at £20 per pop (ok, we know that's unlikely) that would only generate £287,820.

 

Players?

 

Henderson - £3k

Ward - £2k

Rocha - £5k

Pearce - £5k

Halford - £10k

Mattock - portion of chips?

Mullins - £15k

Huseklepp - £10k

Norris - £15k

Thorne - portion of chips?

Kitson - £20k

 

Starting eleven today? That's £85k per week. Oh, add on Ben Haim (on the bench) £30k, Mokoena £20k, Benjani £10k, Ashdown £5k, Kanu £20k??

 

£170k per week (just a guess) - £680k per month.

 

There's the line in the sand.

 

Yeah...course they're breaking even..... :lol: :lol:

 

Not to mention thier new highly paid manager, Mr Appleton.... oh maybe not then - two portions on chips perhaps...!!! :lol:

 

Seriously though - when you look at the figures (even though they are 'finger in the air' good guesses), it does look pretty bleak for them trying to run solvently. Not even considered other running costs such as non-playing staff, match costs, policing and the like.

 

Personally I think they will be fine this season, look at Birmingham - thier owner is in the clink and it hasn't derailed them at all. Come next season though - the fat lady might start limbering up again.

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14,391 at Nottarf Krap.... at £20 per pop (ok, we know that's unlikely) that would only generate £287,820.

 

Players?

 

Henderson - £3k

Ward - £2k

Rocha - £5k

Pearce - £5k

Halford - £10k

Mattock - portion of chips?

Mullins - £15k

Huseklepp - £10k

Norris - £15k

Thorne - portion of chips?

Kitson - £20k

 

Starting eleven today? That's £85k per week. Oh, add on Ben Haim (on the bench) £30k, Mokoena £20k, Benjani £10k, Ashdown £5k, Kanu £20k??

 

£170k per week (just a guess) - £680k per month.

 

There's the line in the sand.

 

Yeah...course they're breaking even..... :lol: :lol:

 

Lawrence?

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of the 14000 half did not pay either because they are season ticket holders or one of the life season tickets sold many years ago' date='if i was a local tradesman and had an account with PFC i would withdrawal my services until account was paid[/quote']

 

I'm guessing that the words 'credit account' have long since been replaced by 'proforma - cleared funds only' to any supplier in their right mind!

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Feel free to correct any of these guesstimates, unless of course you're clueless. :)

 

The paying matchday income is only about 6,000 at an average of £20.

 

If you add a few cup games and shop sales it gives you maybe £3.5M a year.

The wages still look like £12M a year.

 

 

A significant amount of the season ticket money was spent on players, the TV money and any sponsorship might cover most other overheads like the rents and utilities, travel, hotels and US holidays - and the toilet flush and guttering.

The parachutes are covering the massive football debts.

 

 

So even being generous that looks like a shortfall of at least £500K every month that the russians must be covering.

If they consider paying the CVA, the loss would look quite ridiculous - and we are still not convinced that they have paid Chanrai yet...

 

In simple terms the business needs to offload every high earner to break even, about six or seven of them, to be replaced by £3K a week players.

To then meet the CVA and any payments to the former owner they need full houses for the rest of the season.

 

 

The football authorities must be nervous now that the bank security for the owners has been exposed as fake.

 

 

 

They are fine all the time the 'owners' cover the shortfall.

Though this investment just adds to any future sale price making the business look even less attractive.

 

Withdraw regular payments from a Lithuanian bank and the business is insolvent - dead in the water within the hour.

 

A theory supported by the big fat bouncer in an orange suit who admitted that Convers are in financial trouble.

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Although the phew will have us know that the CVA is covered in full by the parachute payments.

 

Of course, they seem to conveniently forget that the first two years of parachute payments were leant to them before they were relegated - and shortly thereafter - just to stop them from folding, which equates to circa £32m of the £48m due.

 

Which leaves, at best £16m to come, which as Rally says is being used to pay off the football creditors - oh and chinny the biggest secured creditor who has what, conveniently about £16m owed to him!

 

So, still a piffling £16 - £20m to find to fund the CVA, depending on which one of AA's figures is to be believed! That is of course if they ever start paying it, as I'm sure the old 'we haven't got any money to start paying yet' clause will be valid for as long as they want it to be!

 

But, like they say, debt free and living the goodlife eh :D

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At least when they get demoted to the Conference they will feel at home....

 

From the BBC

Fleetwood missed the chance to go top of the Blue Square Bet Premier table and had settle for a draw at Gateshead.

 

Cod Army substitute Magno Vieira had a chance to win the game but saw his right-footed shot saved by Jak Alnwick.

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You have to say, the figures just don't add up...

 

As for the most expensive and highly paid XI in the NPC, we should all raise a glass and toast Lampitt and Cotterils bonkers quality over quantity strategy... That legacy will be a millstone around the neck of Chinny when he gallops back into town

 

Feel free to correct any of these guesstimates, unless of course you're clueless. :)

 

The paying matchday income is only about 6,000 at an average of £20.

 

If you add a few cup games and shop sales it gives you maybe £3.5M a year.

The wages still look like £12M a year.

 

 

A significant amount of the season ticket money was spent on players, the TV money and any sponsorship might cover most other overheads like the rents and utilities, travel, hotels and US holidays - and the toilet flush and guttering.

The parachutes are covering the massive football debts.

 

 

So even being generous that looks like a shortfall of at least £500K every month that the russians must be covering.

If they consider paying the CVA, the loss would look quite ridiculous - and we are still not convinced that they have paid Chanrai yet...

 

In simple terms the business needs to offload every high earner to break even, about six or seven of them, to be replaced by £3K a week players.

To then meet the CVA and any payments to the former owner they need full houses for the rest of the season.

 

 

The football authorities must be nervous now that the bank security for the owners has been exposed as fake.

 

 

 

They are fine all the time the 'owners' cover the shortfall.

Though this investment just adds to any future sale price making the business look even less attractive.

 

Withdraw regular payments from a Lithuanian bank and the business is insolvent - dead in the water within the hour.

 

A theory supported by the big fat bouncer in an orange suit who admitted that Convers are in financial trouble.

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You have to say, the figures just don't add up...

 

As for the most expensive and highly paid XI in the NPC, we should all raise a glass and toast Lampitt and Cotterils bonkers quality over quantity strategy... That legacy will be a millstone around the neck of Chinny when he gallops back into town

 

Hmm perhaps that new Tory plan to set up specialist maths teaching schools was brought on by the performance of the book keepers at Nott Arf?

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Feel free to correct any of these guesstimates, unless of course you're clueless. :)

 

The paying matchday income is only about 6,000 at an average of £20.

 

If you add a few cup games and shop sales it gives you maybe £3.5M a year.

The wages still look like £12M a year.

 

 

A significant amount of the season ticket money was spent on players, the TV money and any sponsorship might cover most other overheads like the rents and utilities, travel, hotels and US holidays - and the toilet flush and guttering.

The parachutes are covering the massive football debts.

 

 

So even being generous that looks like a shortfall of at least £500K every month that the russians must be covering.

If they consider paying the CVA, the loss would look quite ridiculous - and we are still not convinced that they have paid Chanrai yet...

 

In simple terms the business needs to offload every high earner to break even, about six or seven of them, to be replaced by £3K a week players.

To then meet the CVA and any payments to the former owner they need full houses for the rest of the season.

 

 

The football authorities must be nervous now that the bank security for the owners has been exposed as fake.

 

 

 

They are fine all the time the 'owners' cover the shortfall.

Though this investment just adds to any future sale price making the business look even less attractive.

 

Withdraw regular payments from a Lithuanian bank and the business is insolvent - dead in the water within the hour.

 

A theory supported by the big fat bouncer in an orange suit who admitted that Convers are in financial trouble.

 

£2 million to the admin due in April?

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Although the phew will have us know that the CVA is covered in full by the parachute payments.

 

Of course, they seem to conveniently forget that the first two years of parachute payments were leant to them before they were relegated - and shortly thereafter - just to stop them from folding, which equates to circa £32m of the £48m due.

 

Which leaves, at best £16m to come, which as Rally says is being used to pay off the football creditors - oh and chinny the biggest secured creditor who has what, conveniently about £16m owed to him!

 

So, still a piffling £16 - £20m to find to fund the CVA, depending on which one of AA's figures is to be believed! That is of course if they ever start paying it, as I'm sure the old 'we haven't got any money to start paying yet' clause will be valid for as long as they want it to be!

 

But, like they say, debt free and living the goodlife eh :D

 

So according to Peter Storrie maths, they should make a tidy profit this year

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Missed this yesterday...

 

http://www.guardian.co.uk/football/2011/nov/26/said-and-done-portsmouth-antonov?newsfeed=true

The fit and proper person test: how it works2009: Vladimir Antonov's Lithuanian bank Snoras barred from opening a UK branch after supplying "misleading information" about its anti-fraud controls. The FSA ruled it was "part of an ongoing pattern of behaviour by institutions controlled by Mr Antonov". • June 2011: Antonov passes football's fit and proper person test and buys Portsmouth. • November 2011: Snoras put into administration; Antonov arrested, charged with misappropriating £200m. Antonov "strenuously denies dishonesty".

• Helping make the takeover happen in June: Portsmouth's chief executive David Lampitt, who joined the club in April 2010 having left his previous job as the FA's head of football integrity. "It's been a complex process, a long one, very properly conducted. But I believe we've found owners who will take a long-term view."

• Also passing football's fit and proper person tests at Portsmouth since 2006: Sacha Gaydamak – son of billionaire convicted arms trafficker Arkady. • Sulaiman al-Fahim – frontman for unnamed investors and "close friend" of fraudster Thaksin Shinawatra. • Ali al-Faraj – Saudi "billionaire" who told the press he had "no interest" in football and placed the club's affairs in the hands of convicted fraudster Daniel Azougy. • And Arkady's estranged business associates Balram Chainrai and Levi Kushnir - Kushnir a veteran of three company receiverships.

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You are right, an insolvency expert who said that if there is no money in the kitty now to pay their way they are in trouble because they have insufficient income to keep going without outside funds and will be in real trouble come April when this £2m is due.

 

Not sure if they need to wait until April to be in trouble.

 

We all know the figures at FP don't stack up re incoming/outgoing expenses, therefore they can only be being propped up by outside money. Big question is, where does this money come from and is it legit?

 

Seems to me that the Lithuanian authorities are saying that vast sums have been fraudulently transferred overseas from Snoras bank, allegedly by Vlad to presumably use on his other business enterprises including the hapless skates. Should this be proved as the correct version of events then illegal money would have been used to pay the skates expenses this season. We know their income doesn't come close to covering operating costs so someone has been funding them.

 

However, now it gets interesting as the even bigger question is, who will be funding them from this time forward if the money trail to/from Snoras has been cut off?

 

If the funds keep arriving to pay TBH's wages and all their other costs, then an interested party like, say, the fraud squad might wonder if said funds were part of the alleged illegal transfers that the Liths are trying to recover. If those monies did disappear abroad then they must be parked somewhere for the use of and if that use is perceived to be PFC then Poopeys continued existence may be viewed by some as a defacto admission of guilt, unless proved otherwise.

 

Of course, if the funds do now dry up then gloriously, at last, the cheating bast*rds will be (wait for it) ............... TOAST!!!!!!!!!!!!!

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The problem now is that Chainrai will 'reluctantly' step back in, claim to be trying to save them, but can only do so if the CVA payments are put back another couple of years, not have to pay their VAT and the FL loans them the money to keep going. Cue another round of 'quality over quantity' signings in Jan and another desperate push for the Prem, or another go at finding someone willing to exchange 6 months in the limelight for some well cleaned money. I predict page thousand will come and go with barely a whimper, and those of us that wished the a slow death better hope we're young enough to last to the culmination of this thread.

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Or is it? I don't believe the FA has ever failed anyone as a FAPP.

 

Perhaps we miss the point, it may well be the question they ask themselves is the person a FAPP to own the particulare club in question. In the cases we have seen so far for that wonderful club for the skates from turd town with owners ranging from child maimers to bank cheats perhaps these are FAPP to own that club! :lol:

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Or is it? I don't believe the FA has ever failed anyone as a FAPP.

 

Technically the former owner of Man City - Thaksin would have become non FAPP if he had not sold out when he did.

 

As the article in the Guardian also pointed out & I also alluded to many times Thaksin was Al Fahim's buddy and the reason Al Fahim suddenly found himself in the limelight was when the requirement to prove Beneficial Owners came up. So it has sort of stopped another global level fraudster getting in the mix

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Perhaps we miss the point, it may well be the question they ask themselves is the person a FAPP to own the particulare club in question. In the cases we have seen so far for that wonderful club for the skates from turd town with owners ranging from child maimers to bank cheats perhaps these are FAPP to own that club! :lol:

 

Doh! We've been looking at this from the wrong angle all along. Thanks franny ;)

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Jordan Cross said on the live Pompey match feed that he believed that PFC had used Snoras Bank to gaurantee funds with the FL! Also there is every chance Chanrai would come back for a 3rd time to protect his investment! ooh dear.

 

This can't be correct. Corp Ho said Chanrai had no security over Pompey any more (despite posting a document that clearly indicated the contrary).

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This can't be correct. Corp Ho said Chanrai had no security over Pompey any more (despite posting a document that clearly indicated the contrary).

 

A document which had been subjected to the rigours of the finest legal minds on Pompey Online, too - and it was their conclusion which Ho trumpeted so loudly on here. But then, given that the main legal specialisation down on Portsea Island must surely be criminal law, it does seem a little harsh to expect them to be able to read and interpret Land Registry documents. :lol:

 

On another note altogether, we seem to have lost track of our casting for Pompey Takeover - The Movie. In my view, it's hard to look past the great Lon Chaney Snr for the role of Uncle Avram:

 

Lon_chaney_sr.JPG

 

And, to continue the silent movie theme, here's the man to play Peter Storrie:

 

RoscoeArbuckleRet.jpg

Edited by Fowllyd
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So, start of a new week. Grateful if someone could timetable the key dates and times that we should anticipate this week's 'laugh out loud' moments. Just need as much prior warning as possible to ensure I don't have a mouthful of coffee. There's only so much splutter induced liquid caffeine a computer screen and keyboard can take before it's toast...

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So, start of a new week. Grateful if someone could timetable the key dates and times that we should anticipate this week's 'laugh out loud' moments. Just need as much prior warning as possible to ensure I don't have a mouthful of coffee. There's only so much splutter induced liquid caffeine a computer screen and keyboard can take before it's toast...

 

Well, today is the 28th, nearly the end of the month.

 

When is payday?

 

And when is last month's PAYE & NI due?

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Well, today is the 28th, nearly the end of the month.

 

When is payday?

 

And when is last month's PAYE & NI due?

 

If they managed to rustle up a few hundred grand for bail at the drop of a hat, won't they 'find' the money to pay the wage and tax bills with equal aplomb...?

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Isnt there some thing at the courts today with HMRC and the way monies are distributed after Admin

I seem to recall from this site that the HMRC appeal against the football creditors rule ,was being held at the High Court on 23rd November. Where is Saint_John when we need him? He is normally is up to date on these matters.

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The name Antonov seems to be being dropped like a hot potato at the moment. Not only did CSI seem to sever all links with his name on their website it nows emerges that his name was removed from the matchday programme at the Nottarf Krap 'arena' on Saturday. Dubious was named as President but their is no Chairman!!! Now why could that be??

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