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Our Position Or Pompey's?

Daren W

By Daren W,
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Gorgiesaint

Gorgiesaint

Posted
Posted
N.O. the W............HR MM and the story teller to all face a new probe into 'Tax issues'. Now come on Peter...pray tell all!!!!

 

Caught a bit on Talksport this morning with a newspaper reporter talking about this (sorry didn't catch who he was or which paper).

 

Said Harry's contract was that he was paid 10% of any profit made by Pompey on any player sold, when they sold Crouch to Aston Villa he was paid half through his wages with tax & NI deducted. The accusation was that the other half was paid offshore direct from Milan Mandaric from a US account to Harry's account in Monaco. MM has apparantly siad that this payment was nothing to do with the Crouch deal.

 

Let's hope some fresh scandal with the revenue will drive away any Saudi interest in buying the Skates.

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Miltonaggro

Miltonaggro

Posted
Posted

Our thoughts are with the good doctor in his hour of need, apparently he has been suffering from the sh*ts for the last two months. I for one will never forget the look of puzzlement and sheer terror on his face when he was first being shown around the 'stadium' by Peter Story - pure Meridian gold! Heard the new consortium is fronted by a man called Ali Bongo!

 

You couldn't make it up...

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Gingeletiss

Gingeletiss

Posted
Posted
Caught a bit on Talksport this morning with a newspaper reporter talking about this (sorry didn't catch who he was or which paper).

 

Said Harry's contract was that he was paid 10% of any profit made by Pompey on any player sold, when they sold Crouch to Aston Villa he was paid half through his wages with tax & NI deducted. The accusation was that the other half was paid offshore direct from Milan Mandaric from a US account to Harry's account in Monaco. MM has apparantly siad that this payment was nothing to do with the Crouch deal.

 

Let's hope some fresh scandal with the revenue will drive away any Saudi interest in buying the Skates.

 

This could explain all the money going on HR at the bookies, to be the next PL manager getting the chop.........um!!...no smoke and all that.

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SaintRobbie

SaintRobbie

Posted
Posted

I stand by my prediction after watching the highlights. Wolves were by far the better team in the second half and have to be one favourite for relegation. They we unlucky rather than Pompey being good.

 

Pompey will relegate with the lowest ever Premiership point score.

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SaintRobbie

SaintRobbie

Posted
Posted

 

Best bit of this story is nothing to do with HR but the fact that the pressure is also on Peter Storrie - arguably the biggest asset with a footballing-business brain that Pompey have.

 

Lose Storrie and Pompey lose their final piece of consistency...and he's under investigation and pressure... oh happy days. :)

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clanger

clanger

Posted
Posted

I'm surprised anyone else is interested in buying (not buying him out as such, he never put money in to start with!), bottom of the table with no decent prospect of staying up can't be an attractive proposition. Must have been a bargain???

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OldNick

OldNick

Posted
Posted
Rumour is that Fahim is selling his stake - now there's a surprise

 

http://business.maktoob.com/20090000379114/1/AllStoryDiscussions.htm

 

Shame really, it's been such fun

doesnt it ride on Gaydamek agreeing to sell lannd to the new man? If I remember rightly Gaydameks father prohibited him from selling to Al faraj diue to them not liking each other?

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dubai_phil

dubai_phil

Posted
Posted
doesnt it ride on Gaydamek agreeing to sell lannd to the new man? If I remember rightly Gaydameks father prohibited him from selling to Al faraj diue to them not liking each other?

 

Oh that's easy.

 

Gayson sells it to Fahim who sells it to his Investment Company who sell it to Al Faraj

 

All of which happens for a quid but another 5mil debt on the skates for the legal fees and commissions

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bangkoksaint

bangkoksaint

Posted
Posted

I have read with interest some of the comments on here about Pompey. I also know how we all suffered having gone through what we did. Whilst never wanting to see them better us or be above us I hope that that they do survive and we go on to be the better club based on football alone and not through a financial demise. Their fans will be going through hell and whilst it could be argued the club are getting their just desserts the fans are not. So for what it's worth good luck Pompey, I hope you you all pull through, we both end up in the Premiership, we beat you twice a year, finish above you and we both survive.

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stanthemanfairoak

stanthemanfairoak

Posted
Posted
I have read with interest some of the comments on here about Pompey. I also know how we all suffered having gone through what we did. Whilst never wanting to see them better us or be above us I hope that that they do survive and we go on to be the better club based on football alone and not through a financial demise. Their fans will be going through hell and whilst it could be argued the club are getting their just desserts the fans are not. So for what it's worth good luck Pompey, I hope you you all pull through, we both end up in the Premiership, we beat you twice a year, finish above you and we both survive.
sorry pal you are out of touch with the real world out in bang**** ,cc for the skates.
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dubai_phil

dubai_phil

Posted
Posted

http://business.maktoob.com/20090000379626/PFC_pray_for_Faraj_as_Fahim_fails_to_deliver/Article.htm?utm_campaign=Night-Newsletter&utm_medium=Main-News8&utm_source=Night-Newsletter&utm_content=

 

.........Worse, the Faraj offer of a bridging loan of 5 million pounds to pay players has hit a legal impasse between both sides, according to reports.

 

ooops

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slickmick

slickmick

Posted
Posted
I have read with interest some of the comments on here about Pompey. I also know how we all suffered having gone through what we did. Whilst never wanting to see them better us or be above us I hope that that they do survive and we go on to be the better club based on football alone and not through a financial demise. Their fans will be going through hell and whilst it could be argued the club are getting their just desserts the fans are not. So for what it's worth good luck Pompey, I hope you you all pull through, we both end up in the Premiership, we beat you twice a year, finish above you and we both survive.

 

 

Excellent.

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slickmick

slickmick

Posted
Posted
http://business.maktoob.com/20090000379626/PFC_pray_for_Faraj_as_Fahim_fails_to_deliver/Article.htm?utm_campaign=Night-Newsletter&utm_medium=Main-News8&utm_source=Night-Newsletter&utm_content=

 

.........Worse, the Faraj offer of a bridging loan of 5 million pounds to pay players has hit a legal impasse between both sides, according to reports.

 

ooops

 

 

'One complication for any deal is that nothing can happen unless previous owner, Sacha Gaydamak agrees. Under the terms of Gaydamak's sale, he has to approve any subsequent sale if it were to occur before Fahim has refinanced the club. Gaydamak continues to guarantee some of Portsmouth's loans.'

 

I thought the reason Gayman didn't sell to Faraj was because one of the consortium were su-ing Gayman snr.

Why would he change his mind now ?

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dubai_phil

dubai_phil

Posted
Posted
'One complication for any deal is that nothing can happen unless previous owner, Sacha Gaydamak agrees. Under the terms of Gaydamak's sale, he has to approve any subsequent sale if it were to occur before Fahim has refinanced the club. Gaydamak continues to guarantee some of Portsmouth's loans.'

 

I thought the reason Gayman didn't sell to Faraj was because one of the consortium were su-ing Gayman snr.

Why would he change his mind now ?

 

 

Hence my comment - ooops :)

 

So it could be that Fahim isn't going to get the money in time (quelle surprise) and yet he cannot move his ownership on to the Faraj's because the Saudi's don't like an Israeli gun-runner or vice versa.

 

This is funnier than watching re-runs of Fawlty Towers, another day another entertaining twist.

 

I'm sure it will be All Right on the Night, but at the end of the day I expect most of Gayman's money was actually simply guarantees to the banks for the loans, so as the loans are paid off so his liability drops, wouldn't be surprised if he doesn't also have a clause in there where his guarantees become invalid if "for other reasons" the club goes bust...

 

Ah ha, suddenly a new conspiracy - it all makes sense - it's just a blame game, Gayman gets out debt free as long as a takeover happens OR they go bust because of a failed takeover. Win win for him, not so good for the Blue few.

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Corporate Ho

Corporate Ho

Posted
Posted
'One complication for any deal is that nothing can happen unless previous owner, Sacha Gaydamak agrees. Under the terms of Gaydamak's sale, he has to approve any subsequent sale if it were to occur before Fahim has refinanced the club. Gaydamak continues to guarantee some of Portsmouth's loans.'

 

I thought the reason Gayman didn't sell to Faraj was because one of the consortium were su-ing Gayman snr.

Why would he change his mind now ?

 

Hence my comment - ooops :)

 

So it could be that Fahim isn't going to get the money in time (quelle surprise) and yet he cannot move his ownership on to the Faraj's because the Saudi's don't like an Israeli gun-runner or vice versa.

 

This is funnier than watching re-runs of Fawlty Towers, another day another entertaining twist.

 

I'm sure it will be All Right on the Night, but at the end of the day I expect most of Gayman's money was actually simply guarantees to the banks for the loans, so as the loans are paid off so his liability drops, wouldn't be surprised if he doesn't also have a clause in there where his guarantees become invalid if "for other reasons" the club goes bust...

 

Ah ha, suddenly a new conspiracy - it all makes sense - it's just a blame game, Gayman gets out debt free as long as a takeover happens OR they go bust because of a failed takeover. Win win for him, not so good for the Blue few.

 

Couple of things here.

 

Al Faraj wasn't sueing Gaydamak Snr but one of the other consortium members apparently was. That guy is allegedly no longer involved. Even if you do or don't believe that, since Gaydamak originally sold to Fahim, Arkadi Gaydamak (that's Gaydamak Snr) has been indicted by the Israeli courts for money laundering/ tax evasion and has fled back to Russia. However, all his bank accounts in Israel have been frozen meaning his money is inaccesible. He's got no cash. Can anyone see a reason why Gaydamak Jnr might change his tune now and agree to sell to the Al Faraj lot?

 

Quick question to Dubai Phil. Do you know anything about Ali Al Faraj, the family in general or Sabic (who he apparently has a big stake in). Unlike Fahim he doesn't seem to like cameras or publicity and there's virtually nothing about him on the web. There seems to be some suggestion that Sabic have a few problems at the moment but I've been told that he has backers in his bid to buy PFC from a branch of the Saudi royal family (I know that doesn't exactly narrow things down a lot). What's his reputation like in the middle east?

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Corporate Ho

Corporate Ho

Posted
Posted
Mmmm! Had Kidney operation on Friday, fit to fly from Dubai to London on Sunday!

 

I think you'll find it wasn't a "kidney operation" it was a quick op to remove a kidney stone. Allegedly. Whether he had it or not (most Pompey fans seem to think it was fictitous) kidney stones operations are mostly done as day surgery these days so it's not as implausible as you're suggesting.

 

Having said that, looking at the photos that Fahim had published of him wearing his hospital patient wristband I have just one question. How many of you have ever been in a hospital that allowed you to wear your watch under your wristband? Not suggesting anything of course :D

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Delmary

Delmary

Posted
Posted
Couple of things here.

 

Al Faraj wasn't sueing Gaydamak Snr but one of the other consortium members apparently was. That guy is allegedly no longer involved. Even if you do or don't believe that, since Gaydamak originally sold to Fahim, Arkadi Gaydamak (that's Gaydamak Snr) has been indicted by the Israeli courts for money laundering/ tax evasion and has fled back to Russia. However, all his bank accounts in Israel have been frozen meaning his money is inaccesible. He's got no cash. Can anyone see a reason why Gaydamak Jnr might change his tune now and agree to sell to the Al Faraj lot?

 

Quick question to Dubai Phil. Do you know anything about Ali Al Faraj, the family in general or Sabic (who he apparently has a big stake in). Unlike Fahim he doesn't seem to like cameras or publicity and there's virtually nothing about him on the web. There seems to be some suggestion that Sabic have a few problems at the moment but I've been told that he has backers in his bid to buy PFC from a branch of the Saudi royal family (I know that doesn't exactly narrow things down a lot). What's his reputation like in the middle east?

According to Solent he's not involved with Sabic. Al Fahim mark II?
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dubai_phil

dubai_phil

Posted
Posted
Couple of things here.

 

Al Faraj wasn't sueing Gaydamak Snr but one of the other consortium members apparently was. That guy is allegedly no longer involved. Even if you do or don't believe that, since Gaydamak originally sold to Fahim, Arkadi Gaydamak (that's Gaydamak Snr) has been indicted by the Israeli courts for money laundering/ tax evasion and has fled back to Russia. However, all his bank accounts in Israel have been frozen meaning his money is inaccesible. He's got no cash. Can anyone see a reason why Gaydamak Jnr might change his tune now and agree to sell to the Al Faraj lot?

 

Quick question to Dubai Phil. Do you know anything about Ali Al Faraj, the family in general or Sabic (who he apparently has a big stake in). Unlike Fahim he doesn't seem to like cameras or publicity and there's virtually nothing about him on the web. There seems to be some suggestion that Sabic have a few problems at the moment but I've been told that he has backers in his bid to buy PFC from a branch of the Saudi royal family (I know that doesn't exactly narrow things down a lot). What's his reputation like in the middle east?

 

Sabic - Saudia Arabian Basic Industries - sort of an old time industrial conglomerate, mainly focused on downstream petrochemichals and obviously linked to Aramco and a major part of the Magic Kingdom's economy. Jubail has seen immense investment and development, the IT projects from there alone helped many of us especially Cisco grow like crazy down here

 

http://en.wikipedia.org/wiki/Jubail

 

Saudi has it's own "Lehman/Madoff problems" at the moment with the SAAD & Al-Gosaibi group failure - the effects are being felt across the whole Gulf Region http://business.maktoob.com/20090000377990/ADX_orders_banks_to_divulge_Saudi_exposure/Article.htm?utm_campaign=Night-Newsletter&utm_medium=Main-News1&utm_source=Night-Newsletter&utm_content=

 

http://www.reuters.com/article/rbssHomebuilding/idUSN1747433220090717

 

I have no up to date info on whether Sabic are affected but do recall their name being mentioned.

 

Now, TBH, the reason I laid into Al Fahim is that he was an embarrasment. The whole City of Bling nightmare that we lived through down here with all these property buying freaks p*ssed off not just us old timers but also teh "city elders". What he was doing is simply not the way things are done down here. (If you recall Dubai pulled out of buying Charlton the day after I said they would simply because Charlton went public without involving Dubai Inc.

 

These other guys are under the radar then that is good news. That is the way it should be done.

(Oh let Storrie know I am available as a cultural consultant, very fair rates but for you lot, sorry has to be cash in advance.

 

Is there "Royal Family Support"? in Saudi, no idea, however, one little snippet is that high ups in the Saudi FA investigated a number of clubs for potential investment earlier this year, formed a short list and selected one which Prince Waleed bin Talal engaged with. I think however that stalled, as he like many others here took a big hit in the downturn although there was some limited PR on it around feb/March. They (The Family) are now rumoured to be working to buy 50% of Liverpool, that will be different from Prince Waleed.

 

Yes I do know about all of that as hearsay from friends over there, yes there is a story there as well that involves a bloke from oop north and his kid that was posted at the time, and no I won't say any more about it now as it is all ancient history.

 

If the Faraj's keep silent then you will probably be fine, but a lot will depend on their property portfolio and how old it is, I know nothing about them, but property across this region has fallen by over 60% in the past year so they may not be as well off as they were

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OldNick

OldNick

Posted
Posted
Sabic - Saudia Arabian Basic Industries - sort of an old time industrial conglomerate, mainly focused on downstream petrochemichals and obviously linked to Aramco and a major part of the Magic Kingdom's economy. Jubail has seen immense investment and development, the IT projects from there alone helped many of us especially Cisco grow like crazy down here

 

http://en.wikipedia.org/wiki/Jubail

 

Saudi has it's own "Lehman/Madoff problems" at the moment with the SAAD & Al-Gosaibi group failure - the effects are being felt across the whole Gulf Region http://business.maktoob.com/20090000377990/ADX_orders_banks_to_divulge_Saudi_exposure/Article.htm?utm_campaign=Night-Newsletter&utm_medium=Main-News1&utm_source=Night-Newsletter&utm_content=

 

http://www.reuters.com/article/rbssHomebuilding/idUSN1747433220090717

 

I have no up to date info on whether Sabic are affected but do recall their name being mentioned.

 

Now, TBH, the reason I laid into Al Fahim is that he was an embarrasment. The whole City of Bling nightmare that we lived through down here with all these property buying freaks p*ssed off not just us old timers but also teh "city elders". What he was doing is simply not the way things are done down here. (If you recall Dubai pulled out of buying Charlton the day after I said they would simply because Charlton went public without involving Dubai Inc.

 

These other guys are under the radar then that is good news. That is the way it should be done.

(Oh let Storrie know I am available as a cultural consultant, very fair rates but for you lot, sorry has to be cash in advance.

 

Is there "Royal Family Support"? in Saudi, no idea, however, one little snippet is that high ups in the Saudi FA investigated a number of clubs for potential investment earlier this year, formed a short list and selected one which Prince Waleed bin Talal engaged with. I think however that stalled, as he like many others here took a big hit in the downturn although there was some limited PR on it around feb/March. They (The Family) are now rumoured to be working to buy 50% of Liverpool, that will be different from Prince Waleed.

 

Yes I do know about all of that as hearsay from friends over there, yes there is a story there as well that involves a bloke from oop north and his kid that was posted at the time, and no I won't say any more about it now as it is all ancient history.

 

If the Faraj's keep silent then you will probably be fine, but a lot will depend on their property portfolio and how old it is, I know nothing about them, but property across this region has fallen by over 60% in the past year so they may not be as well off as they were

Hey Phil, wasnt Ho subserviant when he wanted some info? Far from the arrogant we will be signing Ronaldo next week tones. It will return now they are minted again Lol

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dubai_phil

dubai_phil

Posted
Posted

Oh and for the conspiracy theorists.. Gboy snr being chased by the Israelis, he runs off to Russia....

 

And then this article appears

 

http://business.maktoob.com/20090000377974/Saudi_seeks_to_kill_Russia_arms_sale_to_Iran/Article.htm?utm_campaign=Night-Newsletter&utm_medium=Main-News6&utm_source=Night-Newsletter&utm_content=

 

Saudi seeks to kill Russia arms sale to Iran

 

 

no, couldn't possibly be linked could it... lol

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dubai_phil

dubai_phil

Posted
Posted
Hey Phil, wasnt Ho subserviant when he wanted some info? Far from the arrogant we will be signing Ronaldo next week tones. It will return now they are minted again Lol

 

yes, but WE will know won't we ;)

 

US$1,000 a day for that stuff you know

 

However when (if) The Faraj boys do finally kick Sultan Bin Trump into touch I am going to open my specially imported bottle of Aussie Sparkling Shiraz. It's the first time I've ever taken a really firm stand on something on this forum and so far I've managed to be about a day ahead of the curve.....

 

I'm luvin it

 

Once he's gone the skates will be back where they should be - ignored by moi

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Jimmy_D

Jimmy_D

Posted
Posted

hm, assuming for one minute that these people are serious about putting money into Portsmouth, and they're willing to buy them back up the league (much like our owner)...

 

Imagine the atmosphere that a Saints Pompey Champions League tie would create :D

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dubai_phil

dubai_phil

Posted
Posted
I'd like Piers Morgan's view on all this.

 

He categorically stated that Al Faim was a real financial player.

 

Surely a well respected TV media star and editor of the Daily Mirror can't be wrong!!

 

Of course he's wrong.

 

He came to Dubai to find out what this place is all about and didn't call me.

 

He drooled over my mate Neil Petch's pad, but proper ITK celebs coming down here know who to call.

 

No honest, I am a Z list celeb, so obviously Piers is a nobody - it was all in the Forum Match programme complete with photographic evidence

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Noodles34

Noodles34

Posted
Posted

Phil, just an irrelevant question, are you big Phil, good mate of Neil who was wearing a Saints shirt the day we got walloped 5-1 at Newcastle and we were then chased all over the place whilst franatically trying to remember where we parked the car?

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dubai_phil

dubai_phil

Posted
Posted
Phil, just an irrelevant question, are you big Phil, good mate of Neil who was wearing a Saints shirt the day we got walloped 5-1 at Newcastle and we were then chased all over the place whilst franatically trying to remember where we parked the car?

 

Nope. Never been to that ground.

 

HTH

 

So we thought it was weird and wrong to have 3 managers in one season. Trust the Skates to try and go one better by having 3 OWNERS in one season.

 

http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/6263774/Portsmouth-takeover-completed-as-Ali-Al-Faraj-becomes-new-owner.html

 

Life can go back to normal now, although

1) it would be funny if Mark Jacob used to sell photcopiers

2) comments down here questioning how the Al Faraj's don't appear in any lists of Saudi Billionaires

http://business.maktoob.com/20090000380218/Saudi_billionaire_takes_over_Portsmouth_/Article.htm

.....PFC pray for Faraj as Fahim fails to deliver Oct 05, 2009 at 08:20Oh goody... Another "billionaire"... Funny how none of these "billionaires" ever show up on any list of billionaires! More rubbish if you ask me....but I wait to be ridiculed as you all... MORE

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dubai_phil

dubai_phil

Posted
Posted
Um!!!!! Dr Dolittle (a property developer), replaced by AlFaraj.......a....yep you guessed it, a property developer. Now, could one be adding up the sums wrong here....I know that there is a real scrabble for land on that little Island!!!!

 

Shhhhh, was saving that one for next week - you know - the ground share with Havant & Waterlooville while they build a shopping mall with a plastic pitch on the roof (They believe they'll attract more fans if they can go to Burberry's at half-time)

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rooney

rooney

Posted
Posted
I'd like Piers Morgan's view on all this.

 

He categorically stated that Al Faim was a real financial player.

 

Surely a well respected TV media star and editor of the Daily Mirror can't be wrong!!

 

Most of the people he interviewed in the Sandbanks programme have all gone bust or fled!

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Rusty

Rusty

Posted
Posted

That doesn't make much sense. He spent about 3 months performing due dilligence, he would have known all there is to know about the clubs finances.

 

Even after he 'bought' the club he stated that the level of debt was actually low, and that was one of the reasons he was attracted.

 

To me (and I am not educated in all this financial stuff) it seems like he is trying to save face/claw back some respect.

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Gingeletiss

Gingeletiss

Posted
Posted
Dr on Solent now - club was in more debt than he thought and has given away 90% for nothing!

 

The man is staying on as Chairman.........that alone will keep us in laughs for the foreseeable future!!!!!. Giving away 90% of nothing.....costs.........er!!! nothing. My understanding was that he aquired the club by taking it's debts!!!, his actual outlay was very small as a cash transaction......

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Wes Tender

Wes Tender

Posted
Posted

It is a real shame that the fake Sheik is selling up to somebody who might actually have some real money behind them. The comedy value that Fahim brought to the table was classic. The man was a complete joke sitting at Krap Nottarf with his chavvy Skate uniform. One can only surmise through conjecture that the whole scheme was contrived to allow the Al Faraj brothers to gain control from Gaydamak Junior, something that apparently he wasn't going to allow. One can only hope that in any event the new takeover is too late to save them from relegation, as the best players are gone and it is difficult to bring anybody else in until January when it might be too late. Also, a lot of the Premiership revenue has gone into the bottomless pit that was Pompey's debts and the running costs to keep them afloat will have to come out of the Al Faraj Brothers' pockets and the revenue from fewer than 19000 fans attending matches. As well as the continuing expenditure to keep them afloat and rebuild the squad that Fahim decimated, they will have to finance the redevelopment of the cruddy shed.

 

They must be out of their tiny minds.

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hutch

hutch

Posted
Posted

As a consequence of recent events, the Premier League have made urgent changes to the Membership Rules. The following statement has just been issued:

 

As a consequence of recent events at a Premier League Football Club, the following changes to the membership rules are introduced with immediate effect :-

 

Premier League Football Clubs are only permitted to sign new owners during the January and Summer signing windows.

 

New owners signed at any other time can only be signed on loan.

 

Emergency loan owners can be signed at any time, provided that the existing owner has been forced to flee the Country for valid reasons, which include:

 


    Being charged with money laundering
    Being charged with arms smuggling
    Being charged with drugs smuggling
    Misappropriating national wealth while President

 

In answer to a question, a Premier League spokesman confirmed that manufacturing cranes or heavy earthmoving equipment is NOT a valid reason.

 

 

Allegedly!

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dubai_phil

dubai_phil

Posted
Posted
As a consequence of recent events, the Premier League have made urgent changes to the Membership Rules. The following statement has just been issued:

 

As a consequence of recent events at a Premier League Football Club, the following changes to the membership rules are introduced with immediate effect :-

 

Premier League Football Clubs are only permitted to sign new owners during the January and Summer signing windows.

 

New owners signed at any other time can only be signed on loan.

 

Emergency loan owners can be signed at any time, provided that the existing owner has been forced to flee the Country for valid reasons, which include:

 


  • Being charged with money laundering
    Being charged with arms smuggling
    Being charged with drugs smuggling
    Misappropriating national wealth while President

In answer to a question, a Premier League spokesman confirmed that manufacturing cranes or heavy earthmoving equipment is NOT a valid reason.

 

 

Allegedly!

 

:smt041

 

outstanding

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