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Pompey Takeover Saga


Fitzhugh Fella

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So you believe Cala when he says we're paying 8 players £31K a week?

 

PS Thanks for last Friday Granty - LOL. Some MOD/ board owner you are ;-)

 

Welcome back Ho from me also. Last week has been totally expunged and forgotten. Got any free samples for my seven year old daughter? ;)

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And what does that mean in English...

 

The document details the firm recorded a net loss total of $2,439,726, with total assets accumulating to $6,377 from January 1, 2007, to September 30, 2010.

The firm, which Mr Cala describes as a ‘dormant’ company, changed from Magnolia Foods Inc from January 1, 2007, to concentrate on developing an underwater resort and casino.

The report details the firm recorded an accumulated deficit of $11,886,789 and $2,439,726 during its development stage, compared to $11,861,259 of additional paid-in capital.

Mr Cala said: ‘The losses are credits to be used against future profits.

 

 

Cala corp has assets of $6,733

 

But it is all OK because his losses are an asset.....

 

How neat is that?

 

Make a load of loses then go buy a football club that makes losses by using the losses you made...

 

 

Who needs money anymore eh? poopey - the World's first Derivative/CDO'd Football Club

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So you believe Cala when he says we're paying 8 players £31K a week?

 

PS Thanks for last Friday Granty - LOL. Some MOD/ board owner you are ;-)

 

I believe every word Mr Cala says! I was especially impressed by "The losses are credits to be used against future profits".

 

Seriously, what is going on here? There can't be any moral, sensible, motive to take this bloke seriously, surely?

Would it be possible for a new owner to use a 'shell' company to borrow yet more money to pay Chanrai back his loan, then leave the new company to default on that new loan?

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I believe every word Mr Cala says! I was especially impressed by "The losses are credits to be used against future profits".

 

Seriously, what is going on here? There can't be any moral, sensible, motive to take this bloke seriously, surely?

Would it be possible for a new owner to use a 'shell' company to borrow yet more money to pay Chanrai back his loan, then leave the new company to default on that new loan?

 

Incredible as it may seem (and doesn't it all?) this is about the only explanation as to why anyone's taking this seriously? Or am I missing something?

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So you believe Cala when he says we're paying 8 players £31K a week?

 

Without too much thought, the following must all be on £20k+ (& some we know are on a lot more) - Halford, Ben Haim,Mokoena, Lawrence, Mullins, Norris, Kitson, Rocha, Varney & Kanu. So if you chuck in NI, bonuses, image rights & all the other bits, an average of £20K basic is probably not far off £30k to the club for 8 of the above.

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So you believe Cala when he says we're paying 8 players £31K a week?

 

PS Thanks for last Friday Granty - LOL. Some MOD/ board owner you are ;-)

 

Ah! Mr Ho Ho Ho, welcome back, that'll teach you to chuck your toys out the pram! As to the wages, lol, it depends which set of books he was allowed to view, they may of given him set 4, instead of set 2, couldn't of been set 1, as they got 'lost'.

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So you believe Cala when he says we're paying 8 players £31K a week?

 

PS Thanks for last Friday Granty - LOL. Some MOD/ board owner you are ;-)

 

Steve,

 

I'm looking for a Scalextrix set for my little cousin, you couldn't do an old pal a discount could you? I could send more business your way, you know it makes sense.

 

xxx

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So you believe Cala when he says we're paying 8 players £31K a week?

 

PS Thanks for last Friday Granty - LOL. Some MOD/ board owner you are ;-)

 

Welcome back aboard our bus on this magnificent thread, last Friday was a little unsavoury for all. How are the mouth frothers on POL doing with the ousting and hanging of our favourite Portsmouth News reporter?

 

Considering the problems with Cotteril refusing to play players like Hughes etc as they would roll over new bonkers contracts, and TBH still pocketing his 36-40k PW he may not be wide of the mark! You dont become the 2nd Highest Spenders in the League without incurring big wage costs, outbidding Ipswich on wages for their captain etc... plus the season before you enjoyed the Most Expensive XI in the leagues... so again, it would not surprise me.

 

Still, it wont be a problem with Cala Corp, he will be switching the lights out everynight, is giving you his heart, and promising to decimate your playing squad - maybe you will finally have a sensible owner, even if he is utterly bonkers!

 

...

8) Even Matt Slater & his buddies are having a laugh about Cala's assets being losses

...PMSL

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Clotterill quoted in the paper today talking about Forest

 

"Can I sort it out? I had a similar thing at Portsmouth last season, didn't have enough players, but signed 3 or 4 and had a break in the sunshine, and kept us up".

 

The interesting thing is, he then went on to say "I dont have the scope to do that at this club".

 

Forest can't afford 3 or 4 players or a break in the sunshine, so dont sign them or go. Those cheating ****s down the road, dont care, they just do it anyway and stayed up.

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Actually without making myself look stupid, You can have non cash warrants on a set of accounts, that go right down to the bottom lin and are non cash deductable, that will show a loss, even when the warrant has or cant be executed. (They only example I can give is when VC's exercise stock options or sell stock during or after an IPO. Screws the books for a quarter, but there may be a tiny bit of truth in what he says.

.

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THE man who could become Pompey’s new owner this week says he is concerned with how much some players are earning.

Sicilian American businessman Joseph Cala, who revealed to The News his intentions to take over at Fratton Park, claims there are eight squad players between them earning a total of £1.1m a month.

He told The News he will be ‘fiscally responsible’ if he takes over at Fratton Park this week.

Mr Cala said: ‘I am shocked by what has been left at the club. It’s like someone is drunk at the bar and the bar man gives him more drinks.

‘The club is in trouble because they spent too much. You have to spend what you have.

‘It’s not sport, it’s gambling.

‘Everyone needs to stop thinking about money because that’s why clubs are going broke.

‘I am going to spend money wisely. I don’t want to own a club because I am going to pay £2m for a player worth £200,000 just to show off.

‘If someone wants to show off they should go to Las Vegas.’

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/cala_concerned_over_pompey_players_salaries_1_3431093

 

Pay the Fiver Rallyboy, your work / style is getting World recognition

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Mr Cala said: ‘I am shocked by what has been left at the club. It’s like someone is drunk at the bar and the bar man gives him more drinks.

The club is in trouble because they spent too much. You have to spend what you have.

‘It’s not sport, it’s gambling.

 

And there was me thinking all along that it was CSI that was in trouble, not the football club. Doh.

 

That'll be 10 points please oh wise Football League executive committee. It doesn't get any more clear cut than that.

 

When's the next meeting?

Edited by trousers
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Without too much thought, the following must all be on £20k+ (& some we know are on a lot more) - Halford, Ben Haim,Mokoena, Lawrence, Mullins, Norris, Kitson, Rocha, Varney & Kanu. So if you chuck in NI, bonuses, image rights & all the other bits, an average of £20K basic is probably not far off £30k to the club for 8 of the above.

 

TBH, Mokoena and Mullins will all be on Premiership wages. The latter signed by Tony Adams before relegation was on the horizon. Whether TBH reduced his terms in the summer is unknown, but he certainly removed the new contract if he plays X number of games. He might have done that to get games. Maybe he was offered a rise, who knows?

Kitson and Lawarence wages were £44k supposedly. That was reported on here, whether true or not I don't know.

Norris will be on at least £20k a week for sure. He wouldn't have left Ipswich unless he got a pay rise and he was on about £15k a week there.

Halford certainly wouldn't have joined Premiership Wolves (for £2m) for less than £20k a week and he wouldn't have left for less either.

Take your pick from Hermann, Halford, Kanu, Varney and Rocha for your last big earner.

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I believe every word Mr Cala says! I was especially impressed by "The losses are credits to be used against future profits".

 

Seriously, what is going on here? There can't be any moral, sensible, motive to take this bloke seriously, surely?

Would it be possible for a new owner to use a 'shell' company to borrow yet more money to pay Chanrai back his loan, then leave the new company to default on that new loan?

 

I have some duff shares and I have some profitable shares... If I sell the profitable shares for 20 grand profit the tax man wants £3k capital gains tax. If I sell the shares that made a loss in the same tax year tax man wants nowt.

 

Keeping a loss making set of shares to offset a profitable year is a good plan. (although it's better not to make a loss in the first place)

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And there was me thinking all along that it was CSI that was in trouble, not the football club. Doh.

 

That'll be 10 points please oh wise Football League executive committee. It doesn't get any more clear cut than that.

 

When's the next meeting?

 

Friday

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Actually without making myself look stupid, You can have non cash warrants on a set of accounts, that go right down to the bottom lin and are non cash deductable, that will show a loss, even when the warrant has or cant be executed. (They only example I can give is when VC's exercise stock options or sell stock during or after an IPO. Screws the books for a quarter, but there may be a tiny bit of truth in what he says.

.

 

Now think that through again....

 

What is poopeys most fundamental simple basic problem?

 

They have no cash. They need an injection of cash.

 

They will not be paying the wages with tax credits FROM AMERICA

 

They will not be servicing the CVA payments shortly with tax credits

 

The whole point is that poopey are awash in a million derivaties of loan notes options and bonds. They're like a City Trader who bought as the market went south. PAPER they have a plenty

 

Cala Corp ain't got no cash assets. His tax credits are ONLY of any value to someone who needs to reduce their tax payments - unfortunately for poopey they don't pay HMRC (and if they DID - they pay in the UK, not America)

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neil_allen_150_normal.jpg

pn_neil_allenNeil Allen

 

PFC TV suspended. http://bit.ly/zmVzUi #Pompey

 

28 seconds ago

 

We regret to inform you that PFCTV has been suspended due to matters beyond the control of Portsmouth Football Club.

 

The provision of the PFCTV service is outsourced to a separate company, Portsmouth LiveTV, which has been unable to fulfil its obligations to provide a service. We understand this is because they have run into financial difficulties. This includes debts to Portsmouth Football Club.

 

We are very sorry for the loss of PFCTV and are currently working on building a replacement Pompey video and matchday commentary service, run in-house to give supporters the quality of coverage they deserve.

 

We acknowledge that over the past few weeks subscribers have not been given the service that their subscription warrants and as a result we plan a complimentary introductory offer to those existing subscribers who sign up to the new service.

 

In the interim we will be adding additional, free-to-access content on our YouTube channel http://www.youtube.com/user/officialpfc/

 

For those of you who pay a monthly subscription to PFCTV, you may wish to consider contacting your bank/credit card company to cancel your direct debit.

 

For those who have paid an annual subscription to PFCTV, we will do all we can to assist you in recovering your monies.

 

We will keep you informed of developments about the launch of the new service which we are working to get online as soon as possible and once again we apologise for the inconvenience and disappointment caused.

 

 

Edited by trousers
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We understand this is because they have run into financial difficulties. This includes debts to Portsmouth Football Club.

I love their bare-faced cheek in taking a not-too-subtle "matter-of-fact" tone there.

 

I'm intrigued as to how PFCTV owes the football club money, though, considering the service is being provided by PFCTV to the football club :?

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I could be missing something here but assuming 'PFC' was a significant revenue stream for 'PFC TV' doesn't that imply that 'PFC TV' could conceivably be in "financial difficulties" because one of their (*cough*) "significant revenue streams" (*cough*)dried up...? If you get my drift....

 

Nah, can't be....that would imply that PFC weren't meeting their financial obligations, and we know that isn't the case becuase they aren't in financial difficulty....

Edited by trousers
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I love their bare-faced cheek in taking a not-too-subtle "matter-of-fact" tone there.

 

I'm intrigued as to how PFCTV owes the football club money, though, considering the service is being provided by PFCTV to the football club :?

 

Great minds thinking alike again.... ;-)

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I love their bare-faced cheek in taking a not-too-subtle "matter-of-fact" tone there.

 

I'm intrigued as to how PFCTV owes the football club money, though, considering the service is being provided by PFCTV to the football club :?

 

It could be that PFCTV has bought rights from PFC for broadcasting highlights etc over the internet. PFCTV then sells this service on to the fans (as per saintsplayer). Makes sense they'd be in trouble, given their dwindling support.

 

Wonder if that means PFC called in the debt...

 

Also be interesting to see what ownership of PFCTV looks like...

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Joseph Cala - "Without these eight players the club is healthy, in fact it would be profitable."

 

So the parent company CSI is in admin, North One doesn't have the World Rally rights and Joseph Cala admits Pompey isn't healthy and isn't profitable. Admin Andy keeps saying they need money to see out the season now that Antonov isn't pumping stolen cash from Lithuanian/Latvian bank customers to fund transfer sprees and the wage bill.

 

Has anyone emailed the Football League asking them why they even need bother investigating if a points deduction is needed?

 

Admin Andy, David Lampitt, Joseph Cala, Chris Akers and others connected have all but admitted the club are screwed financially now the parent company has gone under.

Edited by Matthew Le God
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Debts owed to Poorsmouth football club WOW I never expected to see that in a sentence on this thread. LOL

Anyway they can stand it as they are so obviously not insolvent and reliant on CSI to keep them going Oh!

 

Is the new in house service they are going to be supplying a bloke with his I-phone or a handy cam?

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Joseph Cala - "Without these eight players the club is healthy, in fact it would be profitable."

 

So the parent company CSI is in admin, North One doesn't have the World Rally rights and Joseph Cala admits Pompey isn't healthy and isn't profitable. Admin Andy keeps saying they need money to see out the season now that Antonov isn't pumping stolen cash from Lithuanian/Latvian bank customers to fund transfer sprees and the wage bill.

 

Has anyone emailed the Football League asking them why they even need bother investigating if a points deduction is needed?

 

Admin Andy, David Lampitt, Joseph Cala, Chris Akers and others connected have all but admitted the club are screwed financially now the parent company has gone under.

 

Photo news just in.... The Football League discuss PFC financial situation at last meeting...

 

elephant-in-the-room.jpg

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LOL.

 

Nice to see another company associated with PFC that hasn't bothered to file any accounts. Must be something in the water!

To be fair, on this occasion they haven't been required to, as the company was only formed in May 2010, which would mean the first year's accounts weren't due to be filed until the end of February this year.

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Debts owed to Poorsmouth football club WOW I never expected to see that in a sentence on this thread. LOL

Anyway they can stand it as they are so obviously not insolvent and reliant on CSI to keep them going Oh!

 

Is the new in house service they are going to be supplying a bloke with his I-phone or a handy cam?

 

From the Snooze:

"bluelagoon

Wednesday, January 18, 2012 at 04:05 PM

Appy pompeii - Wasn't it - "We regret to inform you that the kicking of footballs at Fratton Park has been suspended due to matters beyond the control of Portsmouth Football Club. The provision of boots and of footballs is outsourced to a separate company, Portsmouth Virgin Islands Boots & Balls R Us Solutions, which has been unable to fulfil its obligations to provide a service. We understand this is because they have run into financial difficulties. This includes debts to Portsmouth Football Club. We are very sorry for the loss of boots and footballs and are currently working on buying some second-hand ones, to give supporters the quality of coverage they deserve."

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Miraw

Wednesday, January 18, 2012 at 04:22 PM

 

Imaginary conversation between BC and AA: BC: What the fck was that about! I thought you said all was OK and I wouldn't have to get involved again? AA: Well, I'm sorry but I couldn't imagine that the Lithuanian Gvt would get involved. I had my doubts but I must admit they were quite convincing. BC: Shut up! We all know that it was the 2 blonde Lithuanian escorts who convinced you. Now get out there and find me someone who's going to get me my money back. And this time for good! .....A few weeks later..... BC: So what have we got? AA: Well, there are a few interested parties, although nothing outstanding. Here's the list. The first one is a consortium. They seem to have a good business pl... BC: Cut the cr@p! Is there anyone in there who will pay the cash up front? AA: Well, there's this Italian bloke, although I don't know where the money's coming from. BC: If he has it, it's good enough for me. He's the one. AA: OK, but I'm not sure that his business plan is realistic and I don't think he would pass the FPPT. BC: I don't give a s**t about the business plan and I already told I would take care of the FPPT, like I did last time. AA: Ok, but soemone will have to tell the fans.. BC: That's your job, isn't it? Let's face it, you've become quite good at making up BS and it'll give you another opportunity to parade on front of the cameras and you love that. Now tell this guy that I want the money in small notes on my desk by the end of January. And after that, I never want to hear or see you again. Now pi88 off!!

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So then...we're 24 hours in.

 

And what have we learned?

 

Yep - long and short is that they're still as they were yesterday. Just another 24 to go. Beep.....Beep......Beep....Beep.....

 

(That's not the theme to 24 playing, it's the old dear on her Batricar near Nottarf Krap backing up)

 

Unlike in 24, when the "Admin Andy Pompey takeover timer" runs out it resets to 48 hours.

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So then...we're 24 hours in.

 

And what have we learned?

 

Yep - long and short is that they're still as they were yesterday. Just another 24 to go. Beep.....Beep......Beep....Beep.....

 

(That's not the theme to 24 playing, it's the old dear on her Batricar near Nottarf Krap backing up)

 

According to my calculations we have had 3 deadlines now passed :

a) 1 x 48 hours.

b) 1 x 7 to 10 days.

c) 1 x 48 hours.

d) 1 x 2 to 3 weeks from early Jan which is upcoming.

 

Credit to AA, as we sail beyond his predictions he just comes up with another one !!!

Ho Ho Ho :)

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this hilariously drawn-out tale of delusion and stupidity is starting to have a dark feeling to it, a sort of climatic, last chopper out of the last chance saloon, terminal edge about it...

 

If they are approaching the end of this five year train crash, who is most to blame?

Storrie and Redknapp for living a crazy dream?

Mandaric for overspending to get out of the championship and setting the benchmark?

Football itself for being unrealistic and encouraging debt?

Mandaric for selling to unsuitable owners?

The arms dealer for pretending he didn't own the club so he could clean money?

The deluded fans for ignoring the alarm bells and behaving like mentally-scarred abuse victims by welcoming any dubious stranger who showed them affection?

AA for lining up unsuitable owners?

AA for lining up owners that didn't exist?

Chanrai for taking advantage of an injured business in need of loans? Three times.

The Russians for turning out to be linked to criminal activity when all we knew about them prior to them buying was that they were linked to criminal activity?

The football authorities for allowing dodgy owners in?

Lampitt for continuing to overspend money he knew they would never have?

 

They all have their part to play and despite the blatant mistakes made by Lampitt, AA, Chanrai and some minor characters I would imagine the business was terminally damaged around the time that Mandaric sold.

No clean owners could be found at that point and massive amounts of arms cash was needed to stabilise the club.

 

When it became apparent that the house built on sand was actually a rickety shed built on a bloody heap of children's amputated limbs there was no way back.

 

The last two or three years have been mainly about trying to sell a wheezy tortoise with a gammy leg as a racehorse, so if we were looking at who was responsible for this farce I would suggest that perhaps Mandaric, Storrie and Redknapp started the ball rolling, and it hasn't stopped yet.

That trio might be in court for tax offences related to the club but IMO they should be in court for damage to the club, it started on their watch.

 

In may be over soon, it may not, but in all fairness the club won't be lost this year because of the appalling decisions by Lampitt and AA, it was fatally damaged several years back, but no one would admit it.

 

And please don't tell me that all was well until the child-maimer's money was suddenly frozen, the train was clearly de-railed before that.

If you get in bed with arms dealers or sharks, don't moan when you get bitten or shot.

The last couple of years has seen a variety of fire-fighting methods to try and save the business, but idiotic ones at every turn - quality over quantity caused massive damage, and when a lunatic like Cala points out the wages problem you know it was a stupid plan.

 

Cala could be the final nail in the coffin, he's clearly a potless fantasist and as he appears to be mentally ill I would feel uncomfortable laughing at him.

 

 

 

Briefly.

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