Will Pompey fold? (merged threads)

[Westdene Seagull]

I reckon he means it, to be honest.

But only because of this part:



If that part is true, there is ZERO reason for Chanrai to hang around. He's not an idiot, who's going to throw good money after bad.

Fair point and I truly hope you're right !!!!!!

 

[Lady Whistledown]

the fact that the Football League has decided to deduct 10 points for no reasonable reason and by its decisions didn't show any willingness to help in saving this troubled club.

Words fail me

 

[SurreySeagulls]

I have just finished stiching my sides back together

 

[hans kraay fan club]

Words fail me

Try harder.

 

[Lady Whistledown]

That statement from Chainrai's associates is so badly worded, it reminds me of those emails I regularly get from concerned Nigerian gentlemen, urging me to assist them in transferring their billionaire late uncle's fortune into a UK bank account.

 

[itszamora]

I think HKFC has hit the nail on the head here. Chainrai's desire was always to siphon the parachute payments into his own pocket to repay (and maybe a bit more?) the £18m he says he is owed. With that income already spent, there is absolutely no reason for him to stick around.

 

[Mutts Nuts]

But that's still way beyond their means. To get out of the mess they'd got themselves into the right and proper way, they should be paying players no more than matchday expenses i.e amateurs. They simply should not be allowed to exist in their current form AT ALL UNLESS creditors are paid first.

They have no right to spend money they don't have yet again.

*not ranting at you, btw....ranting at the situation*

Absolutely this

 

[ROSM]

You could say, its so badly written that its a close model of the solicitors' letter sent by/on behalf of David Bellotti.

Its just missing the line 'stop whining and listening to (insert media outlet here) backed speculation'.

Like HKFC, I think he means this. It really is now a case of good money after bad rather than speculate to accumulate.

 

[Pinkie Brown]

I think he's serious this time too.

His reason for wanting to regain control was always to trouser the parachute payments. It looks like Birch has already blown that cash before Chainrai got his mitts on it. Chances are, from that 12 million, Birch will pay pff all those he done deals with, then dip into the pot for his FULL fee. Next, he will simply go through the winding up process & off into the sunset with his well earned fee.

 

[KZNSeagull]

the negative criticism and lack of support for our takeover by the fans of this club.

At least the fans did something right then

 

[Ernest]

Wonder what the odds on them not starting the season are now ?

 

[hans kraay fan club]

I guess it now comes down to how realistic the PST proposals were.

Somehow they claimed to have a playing budget of £2.75m, but there's no explanation of where that would come from. Were they too, counting on access to some of the parachute money, that Birch has now spent, on termination agreements with the old players (and his own fees)?

Situation does seem pretty terminal now. PST need the £1.5m from the City Council, but are not prepared to accept the conditions the council attach to that loan (primarily that the lead members of the PST take personal liabilty on this loan?). Politically, I can't see how the council could remove those conditions - they've already faced accusations of misuse of public money, even WITH the conditions.

 

[Mileoakman]

Wonder what the odds on them not starting the season are now ?

Difficult to say but it must be pretty high. Unless the Football League are convinced they can complete their fixtures for the season its hard to see how they can let them start on Saturday.

The problem with the Trust Bid is that it relies on the ex players agreeing to have their already vastly reduced payoff of £8.4m reduced down even further to £2m. As they are no longer employed by Pompey FC I can't see any reason why they would agree to that, after all they have been shafted once and now have no incentive to give up 75% of what they are owed.

There is also legal problems on the horizon with Kanu and others in with claims of about £5m which will be in court soon. Coupled with the fact that the Council loan is dependent on the Trust Board Members accepting personal responsibility if it all goes tits up, and of course the 1500 or so who have made a deposit of £100 to the trust coming up within the next few days with the remaining £900.

Oh and just to make it even worse, they don't own the ground so may not even have anywhere to play shortly if the curent owner decides to shut it down.

Really is a deep, deep pit which just seems to be getting deeper. Pompey fans put it at 80%/20% on liquidation and I reckon thats about right.

 

[CHAPPERS]

Done for. Good.

 

[Driver8]

Difficult to say but it must be pretty high. Unless the Football League are convinced they can complete their fixtures for the season its hard to see how they can let them start on Saturday.

The problem with the Trust Bid is that it relies on the ex players agreeing to have their already vastly reduced payoff of £8.4m reduced down even further to £2m. As they are no longer employed by Pompey FC I can't see any reason why they would agree to that, after all they have been shafted once and now have no incentive to give up 75% of what they are owed.

There is also legal problems on the horizon with Kanu and others in with claims of about £5m which will be in court soon. Coupled with the fact that the Council loan is dependent on the Trust Board Members accepting personal responsibility if it all goes tits up, and of course the 1500 or so who have made a deposit of £100 to the trust coming up within the next few days with the remaining £900.

Oh and just to make it even worse, they don't own the ground so may not even have anywhere to play shortly if the curent owner decides to shut it down.

Really is a deep, deep pit which just seems to be getting deeper. Pompey fans put it at 80%/20% on liquidation and I reckon thats about right.

Presumably the incentive for the ex players is that if the club is liquidated there will be no parachute payment and they will get nothing at all.

 

[Ernest]

Difficult to say but it must be pretty high. Unless the Football League are convinced they can complete their fixtures for the season its hard to see how they can let them start on Saturday.
.

Think that is the important point, if they don't start the season then it is pretty easy to play with a 23 team league and just 3 getting relegated. Once they start playing it becomes a lot harder to sort it out

 

[Ernest]

Only 3 subs out of 7 last night and one of them is 15, what a total shambles. Why are the FL allowing this to drag on ?

 

[Green Cross Code Man]

Only 3 subs out of 7 last night and one of them is 15, what a total shambles. Why are the FL allowing this to drag on ?

If it was an animal it would have been humanely put down ages ago.

 

[The Fifth Column]

The Fat lady is halfway through singing, "Wound up Pompey, Pompey Wound up".

Chainrai/Portpin have no incentive to stick around and continue to seek their golden payoff which was all based around getting their grubby mitts on the parachute payments. The administrators have pretty much allocated any future parachute payments to pay off football creditors and their hefty fees and that is not going to change. They only now have the remotest possibility of survival if the supporters trust fallback option is deemed a viable proposition. If the supporters trust had any sense however they would let the club fold and then pick up the pieces afterwards and start afresh in the lower leagues as AFC Wimbledon did. They would be incredibly foolish taking on a cash draining enterprise of a failing L1 club in terminal decline and would have more success cutting costs to a fraction of what they would be in L1 and starting way down the football pyramid.

It looks to me however that Pompey have now had the life support machine switched off and are taking their last few breaths.

 

[Barry Izbak]

Anyone else feeling sorry for the huge fanbase after their magnificent and imaginative campaign to bring the plight of their club to the nation, will be able to lend their support and perhaps make a contribution to save this once great club at

http://www.youmustbefuckingjoking.com