cjd
Well-known member
A quick bit of research appears to show that the administrators effectively own fratton Park and Chainrai has a secured £17 million loan against it.
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Will Pompey fold? (merged threads)
- Thread starter Brighton TID
- Start date
A quick bit of research appears to show that the administrators effectively own fratton Park and Chainrai has a secured £17 million loan against it.
Mileoakman
Well-known member
Yes your right, the Football Club don't own the stadium.
Just to muddy things even further, the Football League have told Portsmouth that on top of the minus 10 points, the value of Fratton is to be reduced to around the market value of £2 - £4 million. That means that Chanrai can't get back his £18m. This reduces the gap that the Trust have to find, although its still pretty big, Council loan or not.
Mind you when Chanrai gets back in control he only has to wait for the next parachute payement of about £12m and I'm sure some creative accounting can be brought into play to make sure he snaffles most of that.
Whoever takes over I really cant see how they can make this club run without some major changes to the way it operates, (like spending only what you have, etc). Little sign of that so far with a £5000 pw player poised to sign!
Wardy
NSC's Benefits Guru
Interested to know what the fans feel about all of this? Are they happy with the fact they are still signing players on silly money or do they want to go back to basics and live within their means even if that means a trip to League 2?
seagullsovergrimsby
#cpfctinpotclub
Funny how the administrators now they have got rid of all the players on mega wages are keen to complete the takeover early next week with Portpin and say that PST is the fall back option. I wonder if any Hampshire bookmakers are offering odds on when the next administration will happen ?
Read the #Pompey page on Twitter yesterday and a lot are talking about getting quality new players in and going straight back up
sir danny cullip
New member
Absolutely disgusting, presumably public services are being cut in pompey yet they think it's appropriate to throw money at a football club that has shown absolutely ZERO financial prudence in the last 10 years. Sickening.
severnside gull
Well-known member
sums them up - can't be arsed to organise protest but expect to be allowed to keep on spending and get promoted as a right...................... obnoxious fans........... disgusting club..................... disgrace to football
Southover Street Seagull
Well-known member
I wasn't talking about Pompey per say, I was referring to your point that other League 1 clubs will overspend to match Pompey.
Wardy
NSC's Benefits Guru
Well if that is the case, I hope it all goes tits up. If the fans had any sense of the level they are currently at and accepted that they need to take stock and re-build I would have some sympathy for them. However it seems that they have not learnt their lesson and want the quick win again.
Southover Street Seagull
Well-known member
Can't wait to see their clueless fans celebrating the "miracle" of their survival on the local news tonight (and it is on my "local" news because as I live in Burgess Hill of COURSE I get the news from Portsmouth)
Do you have satellite or cable?
Southover Street Seagull
Well-known member
What about the fans who have organised the PFT? Are they obnoxious?
I must stress it wasn't everyone saying that, most were just delighted they weren't going to be liquidated. Some of them are quite concerned about Chanrai taking over again
Barnham Seagull
Yapton Actually
The Portsmouth Supporters Trust offer
Published on Friday 10 August 2012 07:48
Here’s the Portsmouth Supporters Trust offer at a glance.
The Pompey Supporters’ Trust will offer £2.75m to buy Fratton Park.
It will offer £1 for both goodwill and all other assets.
The proposals include a £850,000 contribution to the CVA, with £500,000 payable within 60 days of completion and £350,000 a year later.
It is offering full payment of money owed to other clubs, assuming the amount does not exceed £1.75m.
All non-playing staff will be offered full payment assuming it does not exceed £330,000.
A maximum of £2m to footballers owed money.
So £150m of debt turned into the above.
Fans of other clubs need to know this, Pompey are a huge lump of dogshit on the football league.
They operate like no other business, a rogue club/business and should be shuned by the football and local business community.
Published on Friday 10 August 2012 07:48
Here’s the Portsmouth Supporters Trust offer at a glance.
The Pompey Supporters’ Trust will offer £2.75m to buy Fratton Park.
It will offer £1 for both goodwill and all other assets.
The proposals include a £850,000 contribution to the CVA, with £500,000 payable within 60 days of completion and £350,000 a year later.
It is offering full payment of money owed to other clubs, assuming the amount does not exceed £1.75m.
All non-playing staff will be offered full payment assuming it does not exceed £330,000.
A maximum of £2m to footballers owed money.
So £150m of debt turned into the above.
Fans of other clubs need to know this, Pompey are a huge lump of dogshit on the football league.
They operate like no other business, a rogue club/business and should be shuned by the football and local business community.
seagullsovergrimsby
#cpfctinpotclub
A bit irrelevant now that Chainrai will be buying the club for £1
Gullys Cats
Sausage by the sea!!!
To say Portsmouth Fc are run like a circus, would be unfair to a circus.
Barnham Seagull
Yapton Actually
Yes but he is likey to sell onto the trust and Chainrai's offer wont be much different!
This is what the trust were going to offer and obviously did not feel the shame of what has happened. They would be better off starting there own club that was not tainted.
severnside gull
Well-known member
You really couldn't make it up
Fans move closer to Pompey takeover - Pompey Past - Portsmouth News
So Chanrai takes over and the administrators collect their fees. Chanrai pockets the parachute payments and under the guise of a "partnership" with the supporters trust he also gets his mitts on the local council tax payers money. Icing on the cake!
Meanwhile Portsmouth will be paying the highest wages of any club in League 1 as they seek to buy their way back to the Premier League once again?
If it doesn't happen I will review my comments about the club and it's supporters who continue to operate without ay sense of morality but I seriously doubt that will be necessary
Fans move closer to Pompey takeover - Pompey Past - Portsmouth News
So Chanrai takes over and the administrators collect their fees. Chanrai pockets the parachute payments and under the guise of a "partnership" with the supporters trust he also gets his mitts on the local council tax payers money. Icing on the cake!
Meanwhile Portsmouth will be paying the highest wages of any club in League 1 as they seek to buy their way back to the Premier League once again?
If it doesn't happen I will review my comments about the club and it's supporters who continue to operate without ay sense of morality but I seriously doubt that will be necessary
Psychobilly freakout
HellBilly
What a mockery.....
I feel for every person & buisness owed money.
I feel for every person & buisness owed money.
seagullsovergrimsby
#cpfctinpotclub
Chainrai cannot take up the PST offer to grab the Council's £1.45M as well. The PST offer is to buy out Chainrai for £2.75M but is dependent on the Council being guaranteed repayment from the parachute payment when PST take full control. I cannot see Chainrai doing a deal if his parachute payment is diverted elsewhere which would lose him roughly £9M on the transaction.
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Hotchilidog
Well-known member
- Jan 24, 2009
- 9,021
Pompey are a stain on the Football league, how anyone can have any bit of sympathy for those cheats is beyond me. Shameless doesn't even begin to cover it.