The offer to purchase PFC again is subject to a CVA being agreed - looks like the Trust have some catching up to do. The article is in the News. Chanrai's quote is here: Hhhhmmmm - not good but the best we could hope for? This explains why Appy has been making lots of plans and various changes around the Academy.
His debt is now £18.6m so his vote will certainly count. On the other hand CSI are owec £10m - who will vote for them? The Lithuanian government maybe? On second thoughts - it will be Chan's old buddy Admin Andy - around 50% of the debt is owed to Chan and CSI.
Don't forget Baker Tilly, who are in charge of the old CVA. You know, the one that has failed. And is being diluted into the new CVA, almost as if it doesn't exist.
Oh that's an incredibly useful comment from you Ducky - so articulate and so profound - just what we've come to expect.
Thank You. Considering how the majority of PFC supporters want the FA's Fit & Proper Person Test beefed up and some seem to blame the FA for allowing these "people" to run your club, do you think Mr Chanrai is a fit and proper person. Clearly he is only interested in getting his money back.You dont need Punxsutawney Phil to tell you what the outcome will be.
No. It's no good, 3rdeye, he's boring which ever version you get Christ LD, what happened to you, man? I used to enjoy some of the stuff you used to come out with, but it's just bitter, point scoring these days.
You know Pieking - it beggars belief that those in charge of Pompey (ie DL & CSI) and those overseeing those in charge of PFC (ie the FL) allowed the CVA installments to be delayed. I find that completely incomprehensible, and damned disgraceful. The debts accumulated this time are less than the agreed original CVA and still the bulk of the debt is owed to Chanrai and CSI.
He used to have a very sharp wit - now he's just a Moonie - a member of the cult perhaps? Now I have to rely on Pieking to make me laugh
Your continued use of that particular smiley, Duckhunter, would suggest you have the maturity of a ten year old. please log in to view this image Bit harsh on Bart though.
OR - the other end of the scale and entering his second childhood. Oh - now I feel awful for saying that Sweep is always well cool
I suppose it would be too much to expect a prospective owner to be dead straight with the fans. Maybe the statement should have read; I have no intention of seeing all the money that I stupidly loaned disappear. When I stepped in last time, I also made it clear that I had no interest in owning a football club at all, but business is business. Any club which has a core of 10000 plus fans should provide opportunities for me to gradually extract my money bit by bit. If by cutting costs to the bone and with the help of a good and relatively cheap manager I can get the club promoted then perhaps I can offload it sooner rather than later. In the meantime, my ownership of the Stadium should give me a bit of security whilst other creditors will have to accept the second CVA. It's not ideal, but it the best I can do for myself at the present" Or am a being a tad cynical?
Pretty much spot on CF. But you should also add; "I intend to hire another convicted fraudster to our financial team to make sure any fees set for charities amke it into my pocket". Unfortunaly peopel still see him as the messiah. Maybe within the next day or two he'll meet the same fate.
I for one am not happy about our prospective new owner. But what other option do we have? I think, as fans, with no say in who takes over - please remember this Ducky - us fans are mere pawns in this over played game of chess. But maybe the pawn can reach the end of the board become a Queen once again and maybe Chanrai has seen an opportunity. Let's put history aside and look at the statement he has made to the News. ‘I’m a businessman but I realise that the club will only have value if it is successful. Does he want to put in a bit of cash to hopefully see the club back on an even keel? Yes he will buy the club, at a reduced rate, then claim his money back from a future sale once the club is more attractive prospect. ‘I now want to turn things around at Portsmouth Football Club and see the club regain its rightful position. Does he realise that actually, if a bit of care is taken over the club, a bit of investment, that the club could once rise again and be of value? ‘The success of this goal can only be achieved if all parties with a vested interest in the club’s business work together. PST involvement to some degree? Chanrai has said he doesn't want to run a football club, could he be a silent partner so to speak? ‘Let’s not be under any illusions though: we are planning to take on a club with severe financial problems that cannot be fixed overnight. We all know this - is this the one statement to show he going to assess what he has, sell everything and then liquidate instead? I don’t have a magic wand but many important elements – a proud history, passionate supporters and one of the country’s top managers – are already in place and provide a strong platform on which we hope to build stability. He knows he just has to give the manager time to rebuild, but other than that, at the club, a club in league 1, is anything else essential to the running of the club? ‘We will work with the Football League and the PFA over the next couple of weeks to demonstrate our commitment to securing a brighter and stable future for Portsmouth Football Club.’ This is the most interesting comment - almost hoping the FL etc will come in a over-see that the club once again does not come into the state it is in. Or it all codswallop? Is this the mist Chanrai is putting up to hopefully get a few fans onboard, for him to then take over and see the demise of the club. Mixed messages from our Hong Kong friend/foe - let's see what the sequel to the last film brings - possibly a finale? who knows!
I think you've hit the nail on the head Channon. That said, I think it will be a case of "better the devil you know" if he, once again, becomes "reluctant owner". As a business man he knows that he will get a better price for the club if it is in the Championship and solvent, than he will if he allows the debacle to continue with a CVA failure, another points deduction and a slide into the abyss of League Two. I just hope he's a bit more careful as to who he sells to next time!
