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Pompey Takeover Saga


Fitzhugh Fella

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Reading the replies, the fact that anyone's taking it seriously takes desperation to new depths.

 

The fact that they are wanting this JoCa to take over takes desperation to new depths. Have they not learnt anything from the past 3 years?

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http://www.portsmouth.co.uk/news/campaigns/passion-for-portsmouth/news/mp_requests_a_meeting_with_hmrc_about_bill_1_3454830

 

Thursday, January 26, 2012 at 08:44 AM

spencerc

Go Penny!!! You can see the revenue's point but they should also appreciate CSI pulled out so we haven't avoided paying

 

:facepalm:

 

That's it....I officially give up....can't compete with that logic....

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http://www.portsmouth.co.uk/news/campaigns/passion-for-portsmouth/news/mp_requests_a_meeting_with_hmrc_about_bill_1_3454830

 

Thursday, January 26, 2012 at 08:44 AM

spencerc

Go Penny!!! You can see the revenue's point but they should also appreciate CSI pulled out so we haven't avoided paying

 

:facepalm:

 

That's it....I officially give up....can't compete with that logic....

 

 

:lol: they are always good comedy value

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http://www.thesun.co.uk/sol/homepage/sport/football/4086607/Portsmouth-news-Taxmans-boss-called-in.html

 

PORTSMOUTH'S fight for survival has taken a new twist after the taxman's boss was called in.

Portsmouth North MP Penny Mordaunt has appealed to David Gauke, the Treasury minister who oversees HMRC, to help stop the 'vindictive' £1.6million winding-up petition.

 

Mordaunt said: "HMRC's actions in issuing and publicising a winding-up order are actually preventing the best thing from happening — the club being sold.

 

"I think it's a very vindictive attitude. Mr Gauke is saying that the response from his officials will be, 'We can't be seen to be showing favouritism to one business over another'.

 

"But I think they should be pragmatic with all businesses. This is as much in their interest as in football's and those owed money by the club."

 

It's not vindictive it's what they should be doing.

 

What is this MP thinking? Has she not read the news. They have been let off 80% of 32 million taxes already. They look like defaulting on another 2.4 million even if they are wound up on 20/2/2012

 

Maybe she could make up the missing cash to her schools and libraries?

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‘The jewel in the crown of CSI’s assets was North One Sports which held the rights to the World Rally Championship.

 

Someone asked me about this the other day. NOS, owned by CSI, held the rights to broadcast the WRC. Correct?

 

OK, so this then: http://northonetv.com/?p=sportsabout says that NOS is part of the North One Television family of companies. Does (did) CSI own NOT as well? It's interesting as NOT produce shows such as Fifth Gear and The Gadget Show.

 

NOT are part of All3Media http://www.all3media.com/companies.php

 

Not mention of CSI or Convers anywhere on the NOT or A3M sites...

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Answering a previous post:

 

Will you be toast, or do you think that the chancers who run your club, or the bent administrator of CSI, have some ace up their sleeves to gain you a stay of execution?

 

No idea, reckon it could go either way. The biggest issue, as I said before, is whether Chainrai is willing to take a risk that he'll get as much from the club being liquidated as he would from any offer. One offer's on the table which is way below the £18m he wants but is apparently pretty realistic. My heart says he'll take an offer and we'll get through but knowing what a greedy litle ****er he is it could go either way. Love the way you think the administrators are looking out for us by the way. You're so sharp on here guys. LOL

 

[/color]And of course, apart from the debt you list, there is the debt to HMRC, there are the running costs, the inflated player's wages, etc. No ground, no training ground, no land around the ground. What a bargain the club is!

 

True there's the debt to HMRC but running costs can be reduced quite easily. Quite a few of the higher earners only have a year left on their contracts and can probably be encouraged to find another club if we release them (now or at the end of the season). And the offer that's on the table is from a guy whose background means his angle is probably about developing the infrastructure of the club to improve it's value long term

 

 

The difference is that our wealthy benefactors are respectable business people, ethical, reliable, trustworthy. None of these adjectives apply to any of the past few owners you have had. Furthermore, the level is debt we have is miniscule against the value of assets owned by the club and also against the returns achievable by the return to the Premiership. So our owners are making astute investments, whereas yours were laundering money/picking the bones of your carcase/speculating funds they didn't have. Do you see the difference now?

 

Yes the difference seems to be that if it's Pompey it's cheating but if it's Saints it's fine to live beyond your means because it's "investment". You talk about the level of debt being "miniscule against the clubs assets". What is the level of your debt exactly. You seem to know the figure

 

[[/color]And yet for all your bleating about how other clubs had similar gate receipts and also similar wages to turnover ratios, yours was the first club in the history of the Premiership to go into administration.

 

Yes, because our backer stopped funding us and the bank called in £30m+ overnight. Are you saying that could never happen to you? Or any club for that matter? Also, would you not agree that the player sales we made should have been more than enough to prevent administration, yet somehow the money wasn't available to the club. What happened to it? If the "crooks and puppets" you've mentioned siphoned some out of the club then is it PFC's fault that bills weren't paid?

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180px-Krabby-Clown.jpg

 

 

Some people call me a skate cowboy

Some call me a gangster on drugs

Some people call me Maurice

Cause' I speak to the pompy few with love

 

People talk about me baby

Say I'm doin' you wrong, doin' you wrong

But don't you worry, baby, don't worry(!!!)

Cause' I'm right here right here right here right here once more (probably)

 

Cause' I'm a chancer

I'm a grinner

I'm a lover

And I'm a spinner

I play out my fictional business fantasies in the Portsmouth equivalent of The Sun

I'm a JoCa

I'm a smoke screen

I like midnight poker

I get my fun then do a run

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Someone asked me about this the other day. NOS, owned by CSI, held the rights to broadcast the WRC. Correct?

 

OK, so this then: http://northonetv.com/?p=sportsabout says that NOS is part of the North One Television family of companies. Does (did) CSI own NOT as well? It's interesting as NOT produce shows such as Fifth Gear and The Gadget Show.

 

NOT are part of All3Media http://www.all3media.com/companies.php

 

Not mention of CSI or Convers anywhere on the NOT or A3M sites...

 

http://www.sportbusiness.com/news/183205/north-one-sport-acquired-by-csi

 

So that page could be out of date? Or perhaps as a result of defaulting on payment, the rights and ownership to "North One Sport" revert to NOT?

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http://www.portsmouth.co.uk/news/campaigns/passion-for-portsmouth/news/mp_requests_a_meeting_with_hmrc_about_bill_1_3454830

 

Thursday, January 26, 2012 at 08:44 AM

spencerc

Go Penny!!! You can see the revenue's point but they should also appreciate CSI pulled out so we haven't avoided paying

 

:facepalm:

 

That's it....I officially give up....can't compete with that logic....

 

To be fair millionaire footballers should always be paid first before the taxman....

 

Maybe this is a principle that all of us could adopt - football tickets, merchandise, pies and beer at the ground, and Sky Sports subscriptions should all become tax deductable.

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Answering a previous post:

 

True there's the debt to HMRC but running costs can be reduced quite easily. Quite a few of the higher earners only have a year left on their contracts and can probably be encouraged to find another club if we release them (now or at the end of the season). And the offer that's on the table is from a guy whose background means his angle is probably about developing the infrastructure of the club to improve it's value long term

 

Can your running costs be reduced easily? If so why has this not happened before now? You mention releasing players with a year left on their contracts but the club would still have to pay out the remaining value of the contract and for each 20k per week that's 1m payout for the year remaining. If you can't pay 800k to HMRC how the hell could you afford to payout the contract for some of your highest earners. Also some of the high earners are earning more than they would else where and the know it so unless they get their payouts what incentive is there for them to move to another club when they can just sit on their a7ses being paid over the odds.

 

You mention developing the infrastructure, that's all well and good to buy a club and enhance what they have but give P****y have none it would be starting from scratch which is going to be a hell of an outlay and not a lot of return.

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Can your running costs be reduced easily? If so why has this not happened before now? You mention releasing players with a year left on their contracts but the club would still have to pay out the remaining value of the contract and for each 20k per week that's 1m payout for the year remaining.

 

Not to mention that amount would, I assume, be taxable.

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From twitter:

 

Here's your first update of the day from Redknapp/Mandaric trial. Jamie Redknapp back from last night's match in Liverpool to be here again

 

 

Court's been watching video link from Monaco. David Cusdin evidence. He worked at HSBC bank there where Redknapp's Rosie47 account was held

 

 

David Cusdin told the Court that Redknapp had sole responsibility for Rosie47 account. Redknapp was sole signatory

 

 

In order to open an account at the bank in Monaco Cusdin said "a client had to be well introduced" by a current client

 

 

Redknapp's introduction to HSBC in Monaco was made by Milan Mandaric

 

 

Redknapp has been watching video link from the dock, alongside Mandaric. Redknapp wearing glasses and studying bank documents carefully

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more:

 

Jury has been shown copies of details of Rosie47 account. Court told in 2003 Redknapp faxed David Cusdin instruction to transfer $100,000

 

That $100,000 was from Rosie47 to First Star International in Florida. R's fax ended with "Many thanks for your cooperation, Harry Redknapp"

 

 

Edited by pedg
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James Pearce @Pearcesport

Here's your first update of the day from Redknapp/Mandaric trial. Jamie Redknapp back from last night's match in Liverpool to be here again

 

Court's been watching video link from Monaco. David Cusdin evidence. He worked at HSBC bank there where Redknapp's Rosie47 account was held

David Cusdin told the Court that Redknapp had sole responsibility for Rosie47 account. Redknapp was sole signatory

 

In order to open an account at the bank in Monaco Cusdin said "a client had to be well introduced" by a current client

Redknapp's introduction to HSBC in Monaco was made by Milan Mandaric

Redknapp has been watching video link from the dock, alongside Mandaric. Redknapp wearing glasses and studying bank documents carefully

 

Jury has been shown copies of details of Rosie47 account. Court told in 2003 Redknapp faxed David Cusdin instruction to transfer $100,000

 

That $100,000 was from Rosie47 to First Star International in Florida. R's fax ended with "Many thanks for your cooperation, Harry Redknapp"

 

Edit: oops, beaten to it by Pedg

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Someone asked me about this the other day. NOS, owned by CSI, held the rights to broadcast the WRC. Correct?

 

OK, so this then: http://northonetv.com/?p=sportsabout says that NOS is part of the North One Television family of companies. Does (did) CSI own NOT as well? It's interesting as NOT produce shows such as Fifth Gear and The Gadget Show.

 

NOT are part of All3Media http://www.all3media.com/companies.php

 

Not mention of CSI or Convers anywhere on the NOT or A3M sites...

 

 

North One TV sold North One Sports to CSI (around this time last year IIRC), so no, CSI are not part of North One Television / All3Media

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Can your running costs be reduced easily? If so why has this not happened before now? You mention releasing players with a year left on their contracts but the club would still have to pay out the remaining value of the contract and for each 20k per week that's 1m payout for the year remaining. If you can't pay 800k to HMRC how the hell could you afford to payout the contract for some of your highest earners. Also some of the high earners are earning more than they would else where and the know it so unless they get their payouts what incentive is there for them to move to another club when they can just sit on their a7ses being paid over the odds.

 

You mention developing the infrastructure, that's all well and good to buy a club and enhance what they have but give P****y have none it would be starting from scratch which is going to be a hell of an outlay and not a lot of return.

 

True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

 

As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Also, I'm amazed that none of you investigative genius' have posted about the story oen of the tabloids are trying to get past their lawyers about people involved with PFC at the moment. Have you posted it on a different thread and I've missed it or something?

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True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

 

As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Also, I'm amazed that none of you investigative genius' have posted about the story oen of the tabloids are trying to get past their lawyers about people involved with PFC at the moment. Have you posted it on a different thread and I've missed it or something?

 

Sorry what are Tesco willing to pay £20 mil for? And what land is ever free of charge?

 

You sound like you are living in some kind of dream land where everyone your club owes money to are happy to wipe it clean so someone can turn up and fleace yet more people and on top of that there seem to be people waiting around ready to give you even more?

 

Maybe its me who "just doesnt get it"????

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Steven, this news is brilliant and as good as all the other accurate news you've brought us in the past. Does this great news about Tesco giving pompey £20million for land that pompey don't actually own come from your friend, high up in the club, whom you see socially every two weeks or so?

 

If it does we will know it's bang on the money.

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My understanding is this - North One agreed to buy the rights to WRC 2012 (at a crazy price, outbidding others - familiar?)

 

As with pompey they lost their funding and defaulted on payment, also they couldn't deliver the contractual TV coverage required by the sport.

The sport retained the rights as they hadn't been paid, making CSI's only other asset worthless.

Well done rallying, I'm proud of you!

 

Local MP sells soul to win votes in grubby and clumsy PR campaign shock -

so Penny old girl, which votes are worth more to you, the football ones, or the local people whose relatives have to die at home because tax-related cuts have closed the vital ward at QA?

Your choice! - I guess the vote of football fans has more longevity than the vote of the terminally ill.

Nice work.:?

 

Perhaps you'd like to go and tip a few kids out of wheelchairs while you're at it, they're below voting age - go on, get on the pitch, take their giant cheque off them, use it to clean your moat or treat yourself to a duckhouse.

Local MP supports tax evasion and charity-shafting company - even Han**** has been shrewd enough to keep quiet this time, and he has very little self control.

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True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Also, I'm amazed that none of you investigative genius' have posted about the story oen of the tabloids are trying to get past their lawyers about people involved with PFC at the moment. Have you posted it on a different thread and I've missed it or something?

 

 

Who owns this land again? I struggle to keep up with all the details, but what land does the current incarnation of your cesspit of a club own? Because I think I have gleaned enough to know it doesn't own Fratton Park. So what land does it own that Tesco are going to lob £20m at you for?

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True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

 

As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Also, I'm amazed that none of you investigative genius' have posted about the story oen of the tabloids are trying to get past their lawyers about people involved with PFC at the moment. Have you posted it on a different thread and I've missed it or something?

 

Your argument about the players doesn't hold. Simple answer - because they are earning more money now than they would if they moved. Earning up to say, 10k more for one year is worth the risk of missing out on a 2-3 year contract because someone will be willing to pick them up in a years time, probably on a 1-2 year contract. Also there are currently no guarantees that any of the high earners will be offered a contract elsewhere (partly because their over inflated wages puts many clubs off) . Also what makes you think that these players will get guaranteed contracts now but not in 6-12 months?

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What is this MP thinking? Has she not read the news. They have been let off 80% of 32 million taxes already. They look like defaulting on another 2.4 million even if they are wound up on 20/2/2012

 

Maybe she could make up the missing cash to her schools and libraries?

 

 

She's thinking "lets make sure these inbred dins vote for me next time. Ring the Portsmouth News....now where did I put my soccer scarf".

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The MP is right in that pompey has bought enjoyment to many thousands... How did she know about this thread..

 

hehehehehe. Coffee over monitor moment.

 

Actually, not only does she look like a bit of a shaaaaag-piece, a bit of posh totty nice to have on the side, her profile sounds pretty respectable.

 

http://www.conservatives.com/People/Members_of_Parliament/Mordaunt_Penny.aspx

 

Just a pity she knows f**k all about football. I mean, if she cant understand how bent PFC is and how it is taking the rest of the sport for a ride, she aint going to understand the offside rule...

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Who owns this land again? I struggle to keep up with all the details, but what land does the current incarnation of your cesspit of a club own? Because I think I have gleaned enough to know it doesn't own Fratton Park. So what land does it own that Tesco are going to lob £20m at you for?

 

This is what I am confused about, he was here not so long back saying Chinny would be better to offload now at a loss rather than wait for the club to go pop as the land is worth no more than £4 million? So what land have Pompey been hiding away thats worth £20 million I wonder? Is it not worth selling that land and paying off the CVA/HMRC/Charitys and so on? Then letting a few high earners walk away from there lucrative contracts so they can find less lucrative contracts elsewhere thus saving the club a few quid and getting back to within its means? I take it those players will be replaced with players that keep the cash flow on the right side this time or course?

 

No wonder serious business men are chomping at the bit to rescue pompey.........

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True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

 

As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Also, I'm amazed that none of you investigative genius' have posted about the story oen of the tabloids are trying to get past their lawyers about people involved with PFC at the moment. Have you posted it on a different thread and I've missed it or something?

 

I suspect the £20m will now be needed by Tesco to pay Gaydy the ransom for all the land surrounding FP - since he owns it and you don't! If there's £3m or so left over, I guess they'll have to give that to Chinny to buy FP itself, as again, that isn't an asset that PFC own.

 

Please feel free to enlighten us about this expose that the tabloids are going to run as I can't see any sign of it anywhere. I even had a look on POL and could find no reference to it there - you do keep telling us that the good folk on POL ALWAYS find stuff before us don't you, so you'd expect to see it there at the very least. Go ahead and let us know exactly what it is, it could be your fist ever 'scoop'.

 

As for the players, I'm sure they're all happy to sit on the highly inflated wages you pay them and bleed the club dry, knowing that if you default on their wages and the club goes pop, then the PFA will pay them the money owed - I guess the PFA would just apply to the PL for the parachute payments that you won't get! After that they become free agents, where they will probably get a new contract on lower wages, but will be able to negotiate a much better signing on fee because of it. Win, win, win for them, so why would they go elsewhere?

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As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Is that the land owned by Gaydamak? As you have stated

The value of the land that Fratton Park is on is about £3 - £4m tops without Gaydamak's land
so the max PFC would generate from from selling land is 3/4m but that is land the ground is on. Any land Gaydamak owns is Gaydamaks not PFC's.

 

Tell me what land are you talking about that will generate PFC 20m? Also if they have land to that value why have they not previously sold it and paid its creditors?

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As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Shirley your trolling Corporate?

 

Tesco is a PLC Corporate, they would be in big trouble if they started handing over millions to characters such as Chinny and Gaddy- the shareholders would not be happy and it would look terrible on the due dilligence books. Companies like Tescos cant just p*ss about with money in the way PFC do, they have to be accountable. Its a bit of a silly argument as Pompey FC dont own that land at all, none of it. So even if Tescos were going to pay £20m for that little bit of land, it wouldnt go anywhere near the skates coffers, it would go to your crooked former owners. Any cash would not go towards a new stadium, it would go to paying the mountin of debts you have due. Again a silly argument as that is not your land, it is Chinny and Gaddys - PMSL!

 

Whereabouts is your free of charge training ground going to be? Can I have some free land too please? Didnt realise it worked like that!

 

 

In other news it aint looking good for Bagpuss, every lie/storrie he tells to the judge and jury seems to be proven to be a lie the next hour/day! My favourite is him saying he didnt set up the account in Monaco, then the next day the bank manager says he had to sign on the dotted line to open the account! Greedy fool, old Bagpuss. COYHMRC

 

936full-bagpuss-artwork.jpg

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Yes, because our backer stopped funding us and the bank called in £30m+ overnight. Are you saying that could never happen to you? Or any club for that matter? Also, would you not agree that the player sales we made should have been more than enough to prevent administration, yet somehow the money wasn't available to the club. What happened to it? If the "crooks and puppets" you've mentioned siphoned some out of the club then is it PFC's fault that bills weren't paid?

 

You still don't get it do you Ho de HO Ho Ho.....you were living beyond your means, you still are, even your local MP doesn't have an idea of what debts you incurred, then wiped out with your second administration in 13 years, now heading for a third. See all that tax your grotty little club has failed to pay, well quite a few old peoples homes, special needs respite centres etc etc in Hampshire, are closing down due to lack of government support, methinks that unpaid tax would of helped! don't you. You wonder why people think you personally, are a joke, simple,answer, you keep on trying to defend the indefensible, then try and compare our clubs.....unf ucking believable!!!!!!!

Edited by Gingeletiss
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180px-Krabby-Clown.jpg

 

 

Some people call me a skate cowboy

Some call me a gangster on drugs

Some people call me Maurice

Cause' I speak to the pompy few with love

 

People talk about me baby

Say I'm doin' you wrong, doin' you wrong

But don't you worry, baby, don't worry(!!!)

Cause' I'm right here right here right here right here once more (probably)

 

Cause' I'm a chancer

I'm a grinner

I'm a lover

And I'm a spinner

I play out my fictional business fantasies in the Portsmouth equivalent of The Sun

I'm a JoCa

I'm a smoke screen

I like midnight poker

I get my fun then do a run

 

Well, seeing as no one else has commented - I think that's genius! :adore:

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Cala is back in the race to by the skate counts according to Solent.

Absolutely fantastic deal for them if it goes through. Not an outright purchase, but a sort of "merger" would be massive. Can you imagine combining Cala Corporation's and Pompey's accumulated tax losses together, that would be some size of an asset base.

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hehehehehe. Coffee over monitor moment.

 

Actually, not only does she look like a bit of a shaaaaag-piece, a bit of posh totty nice to have on the side, her profile sounds pretty respectable.

 

http://www.conservatives.com/People/Members_of_Parliament/Mordaunt_Penny.aspx

 

Penny doesn't believe that all the issues facing Portsmouth can be solved by the state

 

I agree, love.

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Once Rosie47 had become classed as "dormant" there was a quarterly "dormant" fee charged on it

 

Cusdin said that an account can only become classed as "dormant" if there's been no contact from client for minimum of 2 years

 

Under cross examination David Cusdin revealed that eventually Rosie47 became classed as "dormant"

 

(all from James Pearce on twitter)

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True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

 

Or they can wait until their contract runs out at pompey hopefully getting paid and then become free transfers, where the next club they go to will probably give them a nice signing on fee and maybe similar wages and length of contract.

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True about them sitting on their arses but if they've only got a year left why not move on to get a two or three year contract elsewhere so they can guarantee they can sit on it some more?

 

As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

 

Also, I'm amazed that none of you investigative genius' have posted about the story oen of the tabloids are trying to get past their lawyers about people involved with PFC at the moment. Have you posted it on a different thread and I've missed it or something?

 

No other mug will pay the inflated wages you are that's why they would be happy to sit on their arsenal's doing nothing more than wasting a squad place and draining more money out of you. They move on a free in a years time and pocket even more.

 

Land for the training ground was made available in 2008, just when plans for the Harbourdome or some other fanciful ground were muted. That all fell apart last year with Gosport Borough Council trying to get back £330,000 it was owed from Gaydamak via the courts. There is no other land currently earmarked for a training ground. Where is this land that Tesco wants to spunk £20m on then?

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As for the infrastructure, we have the land available for a training ground free of charge and Tesco willing to pay up to £20m for land that could be put towards the cost of a new stadium.

 

Surely Chanrai/Gaydamack would be better off liquidating the football club and flogging the land to Tescos then?

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