Portsmouth fc

[Royalist]

Perhaps but its a club on life support with a grim outlook rather than dead at the moment!

[Mr Optimist]

Truth is their fans are no different fom the average football fans, ours included, if what is served up on the pitch is average lower division fare people don't go.

Best football fans in the lo league.

[Mr Angry]

In a twist to proceedings, another firm, P&A Partnership, claimed Portpin wanted them, and not administrator PKF, to manage the club's finances until a buyer could be found.

P&A's Brendan Guilfoyle, a well-known football administrator, said Portpin may be forced to shut the 114-year-old club down if a change of administrator was not secured.

"If I am appointed, I am confident that we can find a buyer to secure the long term future of this historic and important club," Guilfoyle said in a statement.

He added: "There has been a late development in that I'm told the solicitors acting for PKF have requested an adjournment because they have a major problem with their case.

"The solicitors acting for Portpin are trying to find out what that is but they're not being told. We don't know why, but it looks like there'll be an adjournment."


This is not good news for anyone who wants the PST to end up with the club - and with Fratton Park; P&A coming in will mean the PST won't get the club and Guilfoyle's claim that they can find a buyer for the club is complete cobblers - I suspect any such buyer will, in fact, merely be another Chainrai front to try and secure his money (which he knows he will never get if the PST take over).

[Royalist]

Mr Optimist then how do you explain Rangers getting just under 50k in a league that is about the level of conference south if not lower?!

[REMTARDROYAL]

The low IQ of the average scot.

[Alexander Litvinenko]

....


This is not good news for anyone who wants the PST to end up with the club - and with Fratton Park; P&A coming in will mean the PST won't get the club and Guilfoyle's claim that they can find a buyer for the club is complete cobblers - I suspect any such buyer will, in fact, merely be another Chainrai front to try and secure his money (which he knows he will never get if the PST take over).

Guilfoyle just out to try and get his finger in the pie - everyone seems to think the case will happen tomorrow now.

[Tony Le Mesmer]

Mr Optimist then how do you explain Rangers getting just under 50k in a league that is about the level of conference south if not lower?!

If Rangers had actually been relegated to DIV 3 on the pitch their attendaces would be a fraction of what they are now.

[Mr Angry]

This was the reason for the request to delay by PKF:

PKF asked for an adjournment because of "a significant change in the terms of the transaction relating to REL".

REL (Robinson Estates Limited) is connected to property developer Stuart Robinson, one of a number of 'high net worth' individuals working alongside ordinary supporters in the Pompey Supporters' Trust.

Robinson had been scheduled to buy Pompey's Fratton Park stadium as well as land surrounding the ground once the PST took control of the club.


So it would appear that one of the High Net Worth backers of the PST is a property developer who will own Fratton Park once the PST got control of the club......



Er....the 2 things you don't want to see in the same sentence as a football fan are "property developer" and "owns our ground"; I can't remember a single instance where those 2 things in combination didn't lead to major problems for the football club downstream....

[Royal Monk]

Its been known for a while that property developers where putting the money up to buy Fratton Park. They have agreed a 5 year plan where they rent it to the PST who then have an option to buy it back after 5 years.
The problem yesterday revolves around the fact that it has been revealed REL do not have the cash to buy Fratton Park even if they judge allows it to be sold. (read this info on the southampton forums who have a massive 1500 page thread on the matter)

Portpin did want P&A do be the administrators as they are are close to Chanrai ...how ever a court judge appointed the administrator which is standard practise.


If anyone has a bit of time and wants to have a bit of a read about Portsmuff then this provides some great entertainment http://www.saintsweb.co.uk/showthread.php?14620-Pompey-Takeover-Saga/page1590

[soggy biscuit]

Adjourned until Jan 15th due to a 'significant change in the terms of the proposed forced sale'

[Who Moved The Goalposts?]

Adjourned until Jan 15th due to a 'significant change in the terms of the proposed forced sale'

Which will take them dangerously close to Feb 1st - the anniversary of their adminsitration. Isn't it auto liquidation at this point? Any insolvency bods out there know the answer?

[buzzby]

Adjourned until Jan 15th due to a 'significant change in the terms of the proposed forced sale'

Which will take them dangerously close to Feb 1st - the anniversary of their adminsitration. Isn't it auto liquidation at this point? Any insolvency bods out there know the answer?

I very much doubt it YAAAAWN

[Royal Monk]

They can go to court to ask for an extension .... wether they get it is another story

[buzzby]

Pompe's finest

http://www.portsmouth.co.uk/news/business/local-business/video-pompey-fans-confront-portpin-execs-outside-court-1-4590878

[Franchise FC]

Its been known for a while that property developers where putting the money up to buy Fratton Park. They have agreed a 5 year plan where they rent it to the PST who then have an option to buy it back after 5 years.
The problem yesterday revolves around the fact that it has been revealed REL do not have the cash to buy Fratton Park even if they judge allows it to be sold. (read this info on the southampton forums who have a massive 1500 page thread on the matter)

Portpin did want P&A do be the administrators as they are are close to Chanrai ...how ever a court judge appointed the administrator which is standard practise.


If anyone has a bit of time and wants to have a bit of a read about Portsmuff then this provides some great entertainment http://www.saintsweb.co.uk/showthread.php?14620-Pompey-Takeover-Saga/page1590

So the FACT about the case was gleaned from an interspaz forum exactly like this one - because they're bound to know the details

[Royal Monk]

Well its also reported on many other sites but dont let that stop you trolling

[PieEater]

The Beeb are saying not that they don't have the cash but that there was a floating charge clause that would give Chainrai another £2m of money left over from the administration. What's another £2m here or there?

[Jackson Corner]

Pompe's finest

http://www.portsmouth.co.uk/news/business/local-business/video-pompey-fans-confront-portpin-execs-outside-court-1-4590878

LOL Sometimes you need something like that to cheer you up......

[SPARTA]

Pompey are now moving out of their training ground because they can't afford the rent. They will be training at Fratton Park now. The pitch will be a disaster in a matter of weeks, given a bit of rain and frost.

Roll on the points deduction.

[Barry the bird boggler]

They are still in Admin aren't they? February will see a year in Admin won't it? Isn't that immediate liquidation if that happens?