Actually it's you who should be ashamed. If you want Portsmouth to survive then you clearly don't give a shit about the financial state of football as a whole or the direction that the modern game is going in. You may think that trotting out the old lies like "no one wants to see a club go bust" makes you morally superior, but you couldn't be more wrong. It's not the 1990s any more.
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Let's all hope that pompey survive !!!
- Thread starter xollob
- Start date
Bwian
Kiss my (_!_)
- Jul 14, 2003
- 15,898
I have a long memory, like PFC's creditors who are now on their third administration. As has been said, totally different situation-maybe you need to know how to separate the two issues. We were being asset stripped in the hope that the club would fold, meanwhile, PFC were running up debts of approx £150 million wasn't it, before the bubble burst? Got the idea yet?
Careful young man, that's a VERY thin tightrope !
Bob!
Coffee Buyer
- Jul 5, 2003
- 11,631
I think there were plenty of us expecting us to have to start all over again, and ready for it to happen, back in 97. Only we would probably have had to start in the Sussex County league.
seagullsovergrimsby
#cpfctinpotclub
Some disturbing news from the Independent : NewsNow: Loading story...
And so it goes on.
Admin again then, the second the last parachute payment clears in Chanrai's account.
seagullsovergrimsby
#cpfctinpotclub
Exactly , cops the £11M parachute money and writes off the other £9M as a tax loss with creative accountancy.
Seagull over Canaryland
Well-known member
Maybe it is the fatigue from this never ending saga but I am I missing something here? I appreciate that Chainrai's motivation this time is around getting monies that are owed to him but don't quite understand how he can be a fit and proper person and be allowed to take ownership of Pompey again especially given how he structured their flawed finances in the past? How does he meet FA requirements? Seems like lots of smoke and mirrors going on here.
I wonder how Pompey fans feel about this - I'd be very worried, fearing that he will just take his money and do a runner. Is he really in it to not only get all his own monies but also clear their other structural debts, if so why?
I wonder how Pompey fans feel about this - I'd be very worried, fearing that he will just take his money and do a runner. Is he really in it to not only get all his own monies but also clear their other structural debts, if so why?
Papa Lazarou
Living in a De Zerbi wonderland
And yet, I don't see Pompey fans campaigning to the FA to apply a more rigorous 'fit and proper' test on him.
If there was a concerted/organised movement to challenge this I'd happily support it, but I can't see one.
Not Andy Naylor
Well-known member
Chainrai must have passed the fit and proper persons nonsense to have been the owner before, and he would no doubt point out that it was the owners he sold Portsmouth to who took it into administration earlier this year. Yes, this flies in the face of all logic, but if he satisfies the League's conditions of ownership and the administrator is happy with the deal, then he'll own the club again. And then strip any remaining property assets and, as you suggest, trouser the remaining parachute payments.
It will be interesting to see how much money he then gives Appleton to sign players with. That will be some indication as to whether he thinks they can overcome the ten-point deduction and stay up or even mount a challenge. If Appleton gets peanuts then we assume that a policy of managed decline will deposit them in League Two in 2013-14. That'll be a bit of a test of the loyalty of the self-styled "best supporters in the world/the country/the South/Hampshire (take your pick)."
I'm not sure where the Indy got that information from, btw (possibly the Portsmouth-based M&Y agency) but I'm hearing that the Ben Haim, Kitson and Lawrence deals are nowhere near cut and dried yet.
It will be interesting to see how much money he then gives Appleton to sign players with. That will be some indication as to whether he thinks they can overcome the ten-point deduction and stay up or even mount a challenge. If Appleton gets peanuts then we assume that a policy of managed decline will deposit them in League Two in 2013-14. That'll be a bit of a test of the loyalty of the self-styled "best supporters in the world/the country/the South/Hampshire (take your pick)."
I'm not sure where the Indy got that information from, btw (possibly the Portsmouth-based M&Y agency) but I'm hearing that the Ben Haim, Kitson and Lawrence deals are nowhere near cut and dried yet.
Hillian1
( . ) ( . )
Taken from BBS:
The Pompey fans clearly don't want Chainrai, a poll on Pompey online with the title:
Liquidation/Plan B or Chainrai
currently has the following standing
Liquidation/Plan B 67 vote(s) 84.8%
Chainrai 12 vote(s) 15.2%
Papa Lazarou
Living in a De Zerbi wonderland
Ok, from a sample of 79 people the Pompey fans don't support the Chanrai deal. I look forward to some of them coming on here to get our support for the campaign that follows....
Hillian1
( . ) ( . )
Low numbers I agree but I was hoping it may be indicative of the overall feeling.
I would be very interested to hear thoughts of Mr Westwood, he seems to be all over the media when things are looking rosy.
severnside gull
Well-known member
There are two stages to the fit and proper persons test. One is that Pompey must vouch for him and they have. The other is that he must be free of any appropriate legal conviction (fraud etc) which he is. End of process. Not being likeable and being a sharp operator is no impediment. The FA have to be able to justify any action in a court
Chanrai "claims" he is owed money. He claims he put money in. The reality is that much of what he is "owed" was always a paper inverstment (money owed to him by the previous owner and underwriting loans etc which have never been repaid as they fell within the original CVA) rather than an actual cash investment and with accrued interest he will take out much more than the very minimal sum he put in to the club. Once he gets his blood money god help the club
Seagull over Canaryland
Well-known member
There are two stages to the fit and proper persons test. One is that Pompey must vouch for him and they have. The other is that he must be free of any appropriate legal conviction (fraud etc) which he is. End of process. Not being likeable and being a sharp operator is no impediment. The FA have to be able to justify any action in a court
Chanrai "claims" he is owed money. He claims he put money in. The reality is that much of what he is "owed" was always a paper inverstment (money owed to him by the previous owner and underwriting loans etc which have never been repaid as they fell within the original CVA) rather than an actual cash investment and with accrued interest he will take out much more than the very minimal sum he put in to the club. Once he gets his blood money god help the club
So as suspected it is very much a case of smoke and mirrors - the guy can beat the fit and proper persons test, take ownership of Pompey again, get his hands on the paper debts and turn them into cash courtesy of the parachute payments but then.....what are his intentions towards the Club's structural debts? Surely there are some fundamental questions to be answered. They don't own the majority of the ground and covenants would prevent it from being sold on and redeveloped for non-sports use so whats in it for Chainrai in the longer term? Is he going to splash loads of dosh in the hope they can buy their way to the Prem and all that luvverly Sky/BT money to pay down the background debts? Given they are in Lge 1 with a -10 point start that ain't exactly going to happen overnight. I agree that the transfer budget should give us a clue as to his intentions, if Appleton still has to scratch around for loanees and cheap signings then the omens will not look good.
Why aren't Pompey fans shouting about this from the rooftops? Will their fans really turn another blind eye to this just so they can survive a bit longer? what about their own rival bid, or is that now a non-starter?
BHAFC_Pandapops
Citation Needed
- Feb 16, 2011
- 2,844
I'll reiterate in alan partridge language. f*** off!
NUFC1892
New member
I remember watching Portsmouth v Sunderland on Sky Sports 2 weeks before we went down, all four sides of the ground were singing about Newcastle and Alan Shearer for pretty much 90 minutes.
f*** them, yes I'm bitter but they can f*** off.
f*** them, yes I'm bitter but they can f*** off.
seagullsovergrimsby
#cpfctinpotclub
Balram Chainrai is the new Bill Archer.
repomanse25
New member
read up on it i was there, how close were you to going under ?