Saint Lindford Posted 17 January, 2012 Share Posted 17 January, 2012 From one of their forums. The £12m is proof of funds to weed out tyre kickers. That actually covers a large chunk of the investment you mention. The £20m is just assurances. The club can actually pay those 2 debts using the remainder of the parachute payments (after paying the CVA). Be interested to know what the actual purchase price is, if anything. Chainrai may be pulling the strings, if he is then he just wants his original arrangement with CSI covered. Sorry but I thought the £12m was to ensure the club could pay its way (wages, running costs and outstanding debts on transfers in the summer) and the £20m was to pay the secured creditors (Chinny and the like. What is left of the parachute payments was to be used to pay off the CVA. Confused now!! Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 Cant wait for the next installment, this is almost as addictive as watching corrie COYR Yep, I can see the similarities..... Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 From one of their forums. The £12m is proof of funds to weed out tyre kickers. That actually covers a large chunk of the investment you mention. The £20m is just assurances. The club can actually pay those 2 debts using the remainder of the parachute payments (after paying the CVA). Be interested to know what the actual purchase price is, if anything. Chainrai may be pulling the strings, if he is then he just wants his original arrangement with CSI covered. Sorry but I thought the £12m was to ensure the club could pay its way (wages, running costs and outstanding debts on transfers in the summer) and the £20m was to pay the secured creditors (Chinny and the like. What is left of the parachute payments was to be used to pay off the CVA. Confused now!! It's just another normal day in Pompey Land..... Link to comment Share on other sites More sharing options...
Brizzie Saints Posted 17 January, 2012 Share Posted 17 January, 2012 Yep definately looks the same, tho think this might be after the train crash Link to comment Share on other sites More sharing options...
Spudders Posted 17 January, 2012 Share Posted 17 January, 2012 Noooooooooooo! Six Sigma training course tomorrow. Will have to save gutlaughs for the train home. If ever there was a business that could do with some process improvements (other than our own ticket office), it's the skates football club! Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/cala_says_he_ll_pull_out_of_pompey_takeover_if_not_done_this_week_1_3425747 Check out the comments, they have obviously forgotten the last 48 hour deadline and fall 'hook, line and sinker' for the next one major raver Tuesday, January 17, 2012 at 10:21 AM Morning All. Update. AA met on Friday and Saturday morning with group number 1, didn't go to well by all accounts. They are meeting again this afternoon. AA is also meeting with a second group tomorrow, who he was with yesterday. Both parties want the deal sorted by Thursday morning, and in place for the weekend. My source has told me the preferred party will most likely pull out if not agreed by Thursday, and it isn't Cala either. Both groups passed fit and proper last week. Link to comment Share on other sites More sharing options...
angelman Posted 17 January, 2012 Share Posted 17 January, 2012 Both groups passed fit and proper last week.[/color][/i] !!!!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
saint si Posted 17 January, 2012 Share Posted 17 January, 2012 major raver Tuesday, January 17, 2012 at 10:21 AM Morning All. Update. AA met on Friday and Saturday morning with group number 1, didn't go to well by all accounts. They are meeting again this afternoon. AA is also meeting with a second group tomorrow, who he was with yesterday. Both parties want the deal sorted by Thursday morning, and in place for the weekend. My source has told me the preferred party will most likely pull out if not agreed by Thursday, and it isn't Cala either. Both groups passed fit and proper last week. Wonder what the story will be when nothing happens on Thursday... "still negotiating, very close blah blah blah" Link to comment Share on other sites More sharing options...
hutch Posted 17 January, 2012 Share Posted 17 January, 2012 My guess would be that the points deduction is coming up for review again in 48 hours. Link to comment Share on other sites More sharing options...
buctootim Posted 17 January, 2012 Share Posted 17 January, 2012 I bet Brian Howe, the singer with Bad Company is in the mix somewhere. Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 (edited) http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/andronikou_says_preferred_bidder_could_complete_pompey_deal_this_week_1_3426120 Andronikou says preferred bidder could complete Pompey deal this week By Rory McKeown Published on Tuesday 17 January 2012 10:23 THE administrator of Pompey’s parent company says a preferred bidder for the club has been identified. Andrew Andronikou, administrator of Convers Sports Initiatives (CSI), told BBC South he hopes to complete the sale of the club by the middle of the week. Mr Andronikou said contracts are in place, BBC South reports. The News revealed last week American Sicilian businessman Joseph Cala was in the running to takeover Pompey after confirming his interest. Pompey have been looking for new owners following CSI’s administration at the end of November. Shouldn't that last sentence read: "Pompey have coincidently been looking for new owners following CSI’s administration at the end of November even though they are not fiscally dependent on the solvency of CSI." ? Edited 17 January, 2012 by trousers Link to comment Share on other sites More sharing options...
Waterside.saint Posted 17 January, 2012 Share Posted 17 January, 2012 !!!!!!!!!!!!!!!!!!!! That fit & proper test must be soooooooo rigorous: Link to comment Share on other sites More sharing options...
tony13579 Posted 17 January, 2012 Share Posted 17 January, 2012 So why are the next few days pivotal then ?because they need to pay HMRC and buy some players Link to comment Share on other sites More sharing options...
tony13579 Posted 17 January, 2012 Share Posted 17 January, 2012 (edited) deleted Edited 19 January, 2012 by tony13579 naff Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 17 January, 2012 Share Posted 17 January, 2012 http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/andronikou_says_preferred_bidder_could_complete_pompey_deal_this_week_1_3426120 Andronikou says preferred bidder could complete Pompey deal this week By Rory McKeown Published on Tuesday 17 January 2012 10:23 THE administrator of Pompey’s parent company says a preferred bidder for the club has been identified. Andrew Andronikou, administrator of Convers Sports Initiatives (CSI), told BBC South he hopes to complete the sale of the club by the middle of the week. Mr Andronikou said contracts are in place, BBC South reports. The News revealed last week American Sicilian businessman Joseph Cala was in the running to takeover Pompey after confirming his interest. Pompey have been looking for new owners following CSI’s administration at the end of November. Shouldn't that last sentence read: "Pompey have coincidently been looking for new owners following CSI’s administration at the end of November even though they are not fiscally dependent on the solvency of CSI." ? It's ALMOST as if, should they repeat it enough times, it will become the truth... Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 17 January, 2012 Share Posted 17 January, 2012 Question - presuming no new owner comes in, when do Poopey begin to trade while insolvent? We hear on the one hand that they are self-sustaining, but then we also hear that there is only enough money for the short term. Chin's £1m loan seems to have staved off insolvency for the time being. AA is now in possibly a different situation than before. Before hand he didn't take Poopey into the situation of trading while insolvent, he picked up the reins when they were already there. This time round they are currently solvent, and knowingly trading while insolvent might well get him into trouble. With CSI's input, I presume that Poopey were trading OK, but now....? Anyway, this seems to all be about Poopey being in administration, when we know that they aren't and it's just CSI! Assuming that Chanrai's latest installment of £1m was to cover January wages, then they will be trading whilst insolvent as of 1st February, as they will be incurring payroll liabilities with no way of paying for them. Link to comment Share on other sites More sharing options...
pfc123 Posted 17 January, 2012 Share Posted 17 January, 2012 major raver Tuesday, January 17, 2012 at 10:21 AM Morning All. Update. AA met on Friday and Saturday morning with group p number 1, didn't go to well by all accounts. They are meeting again this afternoon. Hmmm, interesting. That's basically what I was told on Saturday. Two groups in negotiation, Cala being disregarded as a serious buyer.... Link to comment Share on other sites More sharing options...
dronskisaint Posted 17 January, 2012 Share Posted 17 January, 2012 Hmmm, interesting. That's basically what I was told on Saturday. Two groups in negotiation, Cala being disregarded as a serious buyer.... You only have to check here...it's where all your other ITKs get their information Link to comment Share on other sites More sharing options...
Sevvy Posted 17 January, 2012 Share Posted 17 January, 2012 Cant see why anybody would want to invest a large cash sum, when if they wait for a month and they go t1ts up they will be able to buy them on the cheap, Link to comment Share on other sites More sharing options...
tony13579 Posted 17 January, 2012 Share Posted 17 January, 2012 Assuming that Chanrai's latest installment of £1m was to cover January wages' date=' then they will be trading whilst insolvent as of 1st February, as they will be incurring payroll liabilities with no way of paying for them.[/quote'] The £1m from BC might have been to cover AA's outstanding fees.. or the HMRC's tax demand? Link to comment Share on other sites More sharing options...
Danish Saint Posted 17 January, 2012 Share Posted 17 January, 2012 Can't wait for names to be released on these buyers, so we can do all the research that should have been done before this proposed take-over. Link to comment Share on other sites More sharing options...
pfc123 Posted 17 January, 2012 Share Posted 17 January, 2012 You only have to check here...it's where all your other ITKs get their information No thanks, we know how to use Google. My info comes from elsewhere. Might be right, might be wrong... Link to comment Share on other sites More sharing options...
Gemmel Posted 17 January, 2012 Share Posted 17 January, 2012 Cant see why anybody would want to invest a large cash sum, when if they wait for a month and they go t1ts up they will be able to buy them on the cheap, Doesn't quite work like that with this one. You can get them on the cheap now, you just have to take on the debt..........Even if the were properly in admin, you would still have to take on the debt which is secured. The parachute payments will keep some parasites eyes twinkling, so it will be all about what the FL decide to do (In terms on cash in escrow accounts, direct payments to the CVA etc. One thing is for sure........... if it is Cala, then this thread has a some legs on it yet :) Link to comment Share on other sites More sharing options...
alehouseboys Posted 17 January, 2012 Share Posted 17 January, 2012 No thanks, we know how to use Google. My info comes from elsewhere. Might be right, might be wrong... Is it someone you see socially every couple of weeks? Link to comment Share on other sites More sharing options...
dronskisaint Posted 17 January, 2012 Share Posted 17 January, 2012 No thanks, we know how to use Google. My info comes from elsewhere. Might be right, might be wrong... Let's go with the track record shall we...? I predict many more pages of fun here as your unprincipled new principals stack up the ammunition for us Link to comment Share on other sites More sharing options...
pedg Posted 17 January, 2012 Share Posted 17 January, 2012 No thanks, we know how to use Google. My info comes from elsewhere. Might be right, might be wrong... Link to comment Share on other sites More sharing options...
tony13579 Posted 17 January, 2012 Share Posted 17 January, 2012 Lets not roll out all the tyre kickers out at the same time when we can distroy thier bids over a few weeks Link to comment Share on other sites More sharing options...
fromdayone Posted 17 January, 2012 Share Posted 17 January, 2012 If anyone is going on the pompey webchat 1pm, can you ask the question "are the FL waiting on any points decision to possibly include harry and milan tax evasion case due next week"? Link to comment Share on other sites More sharing options...
Torres Posted 17 January, 2012 Share Posted 17 January, 2012 Comment from that latest News article "I have heard from a very good source that at least two parties have been " blocked " by the administrator and not given the necessary paper work needed to make an intelligent bid." Surely an intelligent bid would be a bid for a different club and to go nowhere near the Skates Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 17 January, 2012 Share Posted 17 January, 2012 If anyone is going on the pompey webchat 1pm, can you ask the question "are the FL waiting on any points decision to possibly include harry and milan tax evasion case due next week"? That's an interesting point. If they are found guilty of tax evasion, where does this sit in the league's rules regarding "irregular or illegal payments to players/agents/staff ?" Presumably it doesn't get much more irregular than a Court finding your owner & Chairman guilty of paying people without paying due taxes? Link to comment Share on other sites More sharing options...
Matthew Le God Posted 17 January, 2012 Share Posted 17 January, 2012 That's an interesting point. If they are found guilty of tax evasion, where does this sit in the league's rules regarding "irregular or illegal payments to players/agents/staff ?" Presumably it doesn't get much more irregular than a Court finding your owner & Chairman guilty of paying people without paying due taxes? For paying players via a third party Luton Town had 10 points deducted by the Football League... http://news.bbc.co.uk/sport1/hi/football/teams/l/luton_town/7500435.stm -30 points in total for all their offences. Link to comment Share on other sites More sharing options...
holepuncture Posted 17 January, 2012 Share Posted 17 January, 2012 bit of a wait... but I got through: Hi Steve, have you heard talk of Peter Storrie being involved in one of these consortiums (on Pompey Online forum)... how would you feel about him back at FP? PUP Link to comment Share on other sites More sharing options...
saintjay77 Posted 17 January, 2012 Share Posted 17 January, 2012 Where is the webchat then? usually loads of posts on here amusing the rest of us Link to comment Share on other sites More sharing options...
Torres Posted 17 January, 2012 Share Posted 17 January, 2012 Seems quite a delay. My CuriousOrange only just got published. Link to comment Share on other sites More sharing options...
stevegrant Posted 17 January, 2012 Share Posted 17 January, 2012 Seems quite a delay. My CuriousOrange only just got published. Well played for the Stewart Lee/Richard Herring reference though Link to comment Share on other sites More sharing options...
Ampersound Posted 17 January, 2012 Share Posted 17 January, 2012 My question about if they can make up the 12 points and compete in the play off cus they are a big club got a "absolutely. no. chance" Sent a question if a woodchuck could chuck wood question. Link to comment Share on other sites More sharing options...
Gemmel Posted 17 January, 2012 Share Posted 17 January, 2012 So at least we know why this week is key for them. Football League meeting (In the context of the answer, could be suggested that this is when they will decide on pompey points deduction) on Friday. If andriod can get it done and dusted by then, he could argue, no case to answer. He was right this morning..........next 48 hours is pivitol. Link to comment Share on other sites More sharing options...
Weston Saint Posted 17 January, 2012 Share Posted 17 January, 2012 Not getting anything through. Tried points deduction questions and poor away for due to lack of travelling fans but he has not bitten! Might be something to do with my name!! Dan N'aught Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 17 January, 2012 Share Posted 17 January, 2012 I'm late - but in the room. FM Link to comment Share on other sites More sharing options...
Saint Lindford Posted 17 January, 2012 Share Posted 17 January, 2012 According to some ITK's on POL the 'new' owner will be................................................................ CALA. LOL Link to comment Share on other sites More sharing options...
100%Red&White Posted 17 January, 2012 Share Posted 17 January, 2012 Oops. http://fansonline.net/portsmouth/mb/view.php?id=400311 Link to comment Share on other sites More sharing options...
Ampersound Posted 17 January, 2012 Share Posted 17 January, 2012 Hehe got another through saying hi to SWF Link to comment Share on other sites More sharing options...
Weston Saint Posted 17 January, 2012 Share Posted 17 January, 2012 Got one through as Ron but it was tame! Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 Hehe got another through saying hi to SWF Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 17 January, 2012 Share Posted 17 January, 2012 Haha...who posted that then? He's run for the hills. Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 They never answer any questions that allude to Pompey and CSI being financial dependancies.....can't think why. The lack of answer tells you all you need to know though.... Link to comment Share on other sites More sharing options...
holepuncture Posted 17 January, 2012 Share Posted 17 January, 2012 Seems quite a delay. My CuriousOrange only just got published. So at least we know why this week is key for them. Football League meeting (In the context of the answer, could be suggested that this is when they will decide on pompey points deduction) on Friday. If andriod can get it done and dusted by then, he could argue, no case to answer. He was right this morning..........next 48 hours is pivitol. I still don't understand why there is a mad rush to find a new owner for Pompey when we were never financially dependant on CSI. It's the parent company that got into financial difficulty, not us! PUP Nice, Buckland... however - Dodged! In the news yesterday the council are going to spend £1billion on pompey in the coming years... can we finally build the harbourdrome down next to the victory, or maybe the arena on the old tip that was planned for the world cup bid PUPPPU He is doing a fantastic job of avoiding questions, the man might as well have come in off the street to do the webchat... clueless and deluded like most skates! Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 (edited) I still don't understand why there is a mad rush to find a new owner for Pompey when we were never financially dependant on CSI. It's the parent company that got into financial difficulty, not us! PUP Nice, Buckland... however - Dodged! Ah! Didn't see that.....I take it back then....one of my "financial dependancy" questions did get through then...... ;-) Shame this one didn't make it: "If Antonov had bought us directly rather than through CSI would we now be in admin? Lucky escape if so!" Edited 17 January, 2012 by trousers Link to comment Share on other sites More sharing options...
trousers Posted 17 January, 2012 Share Posted 17 January, 2012 Oops. http://fansonline.net/portsmouth/mb/view.php?id=400311 Brian Howe just made this comment on facebook: Looking ever more likely its Cala Brian Howe Portsmouth Football club update...Vince and I have been waiting since last week for paperwork we required to make an educated bid for the club. From what I understand a deal has now been done with the preferred bidder. I might suggest that the person/people concerned were the only bidders as I don't think anyone else was sent the required paperwork either. I am a Pompey fan first and foremost and I am worried that there never was a chance of anyone really buying the club unless Mr Chanrai was involved. I hope I am wrong but I am looking into it...stay tuned. Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 17 January, 2012 Share Posted 17 January, 2012 Brian Howe just made this comment on facebook: Looking ever more likely its Cala Brian Howe Portsmouth Football club update...Vince and I have been waiting since last week for paperwork we required to make an educated bid for the club. From what I understand a deal has now been done with the preferred bidder. I might suggest that the person/people concerned were the only bidders as I don't think anyone else was sent the required paperwork either. I am a Pompey fan first and foremost and I am worried that there never was a chance of anyone really buying the club unless Mr Chanrai was involved. I hope I am wrong but I am looking into it...stay tuned. If a deal is done, then sadly, I don't think it will be with JoCa. He stated in the snooze article linked earlier that he would be flying in to the country tomorrow or Thursday - lol, he doesn't even know when! - so doubt the deal would be sealed with him today. Let's hope whoever it is, is just as clueless as JoCa Link to comment Share on other sites More sharing options...
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