Will someone please remind me about his loan. I thought he already had security on the ground whilst Gundamak had a bit of land around the ground? I ask as only unsecured creditors get a vote in a CVA. If his loan was unsecured, he'd already have lost his money and would already have walked.
To be honest Devo....that is the crux of the matter. If he took over again would he actually own the whole club including the ground? Let us suppose he does take over which seems to be the most likely and let us assume in a couple of years you start to gain momentum again. Do you honestly think he is going to be worried as to who he sells the club too as long as he doesn't lose money? Somehow I do not think so.......Also what about the fans....will they flock back....will they trust him? Do you know even here I have my doubts.....
He lent £17m to Falcondrone - ostensibly owned by Al Faraj (aka el Mirage) all we know is that the £17m didn't go through PFCs books. He has lodged a debenture over Fratton Park at Companies House. His £17m is secured and there is an additional debt of £1.6m so his whole debt is now £18.6m. His buddy Admin Andy is still administrator for CSI who are owed around £10.5m as their "investment" was of course just a loan. So of the £58m? being bandied around former owners are owed £29.1m plus the orginal CVA of £16.5m - that's a total of £45.6m. Apparently Gaydamuk is not a secured creditor and his debt is part of the £16.5m. Of the balance of £12.4m there are football debts of an unknown amount.
In the case that Chainrai take control of the club I think we just have to hope that Michael Appleton is more prudent in how he spends the clubs money than previos managers have been.
I knew something was going on as soon as Appy started talking about a Development Team and Reserve Team for the academy players - you don't start making those plans in a vacuum. It also helps to explain the delay in Joel Ward moving on.
That's what I thought. He was never going to let the club go under was he? That said, I can practically smell the ambivalence in Portsmouth all the way up here!
He'll just give them his Paddington bear stare. please log in to view this image please log in to view this image And that will be that, spooky likeness isn't it just?
If you'd come all the way from Darkest Peru and been dumped on a London Railway Station you'd have a hard stare aswell!
Well on balance it is of course much better than liquidation, but I do not trust him further than I can throw him.Thoughts guys? http://www.bbc.co.uk/sport/0/football/18123113
Oops sorry thirdeye I just started a thread before seeing yours.Maybe Devo can tidy it up for me and sweep it under the carpet?
Oops I did not see thirdeye's thread, can you tidy this thread up please devo(or Meowth or PFL) and sweep it under the proverbial carpet?
SB3, looks like the beer goggles are leading you to create duplicate threads. All that talk of local brewed ale on the other thread is having its effect <beer> I think Dev used the term 'better the devil you know' in referring to Chanrai lodging a bid. He wants to maintain the club as a going concern which is in the short term interests of everyone, however palliative, although that long term 'fix' could be hard to come by at the moment. Right, I am off for a Warsteiner and to watch Blackpool reach the EPL, then I am off to Covent Garden with Mrs Sweep this evening.
I trust him............... re the following: 1. He wants his money back - so won't allow the club to go into liquidation 2. He is not an "alleged" crook or even a convicted one - so will work within the rules, or at least those that he must work within 3. He will not "invest" a penny - but he will loan the minimum running costs needed 4. He will cut all costs to the bare minimum necessary to keep the club as a going concern 5. He will not repair the stadium - be prepared for no water in any of the WCs 6. He will immediately put the club up for sale 7. He will not interact with the fans/trust etc. So all-in-all we're in for a turgid time for a while longer - at least until I've won the Euromillions
hi Rich, looks as though the Hammers have their noses in front, good to see ex-Pompey boys Gary O Neil and Matty Taylor (who provided the assist for the opening goal)both players would of course be quite at home back in the EPL and will want to give your lot a stuffing next season!
What like they did this season Sb ? Oh hang on they did take a point off us. I prefer a nice piece of roast chicken with my stuffing But I suppose you would have settled for a point (twice)
4-1 victories in both matches would have been nice, Possum, BUT to take 2 points off of the Championship champions - sorry, runners up - was very satisfying, none the less.
Especially at SMS with 3 seconds of added on time to go. This video never fails to cheer me up. [video=youtube;-sVzmLOyPkY]http://www.youtube.com/watch?v=-sVzmLOyPkY&list=FLPyZ7GDpYhfyZFGYHmyqNQw&index=4&feature=plpp_video[/video] 1.02 is the best part.
