and the saga runs on for at least another month, I've lost count of all these supposed deadlines! Sounds like Tricky Trev is trying to hold out for the next load of parachute payments. Seen a quote from the PST saying that the involvement of this property developer is no longer assured. Does that mean they only have a month to find someone else willing to buy them a stadium?
Apparently Chanrai has a 2m floating charge on the club and the guy that was going to buy the stadium and land for Pompey is close to pulling out.
Ugly scenes at High Court looks bad and stupid...but did you see how smug Chanrai's brother looked. Wouldn't any of us feel mad on behalf of our club...PFC was used as a pawn in an extremely dodgy financial game played out by people who didn't care. And they are not even that smart...would you have got involved in a loan of that size with no real security if you were Chanrai?
A member of the PST has said that wealthy Pompey fans are are bankrolling the club. So in other words they are skint as **** and rakiracking up more debt. Could be they are even paying high wages again.
"The high net worths are continuing to fund the club and will be funding the club through to the next court case. We started seven weeks ago - since the middle of October. We are bridging the losses. " - Iain McInnes, proposed chairman of Pompey under Pompey Supporters Trust ownership 14th December 2012 So, the club even in admin for the last 10 months isn't living within its means. Maybe when I was questioning the wages of Howard, Dumbuya, Williamson, Ertl, Russell, Michalik, Buzaky, Gypes, Mcleod etc etc rather and you dismissed those concerns saying they were on tiny amounts; I was right and the cost base is still too high. Running at a loss, releasing/loaning out youth players rather than playing them and signing players other League One clubs couldn't compete with you to get. Portpin statement: "The proposed purchaser of the stadium was simply not in a position to fund the purchase even at the minimum price PST offered. This has been a huge waste of time and money. Legal costs of around £400,000 have been awarded to us against the administrators."
Does put the administrators in a bad light. The people who claimed they had money when they didn't should be ashamed for getting people's hopes up. Typical property developers.
Can't Nicola just buy us out? With the CVA, he wouldn't need that much and could offer Chainrai a bit more than the trust (although I wouldn't offer him he full amount he believes he's owed just because he's a cock). Plus, it would do a lot for Porsthampton relations. Yes but people, when selling a product, are always going to use hyperbole. They're hardly like to say "the worst fans in the world" or "mediocre fans" are they? And take the film The Life of Pi that hast just been released, I'm sure it's been described as "The most beautiful film you'll ever see" or something like that.... they're hardly likely to say "A fairly beautiful film, it's not bad" or "You'll probably see more beautiful films than this I think"..... So the PST and Pompey OS are just doing what any business in the world would do. If someone genuinely gets aggrieved over that, then that's kinda pathetic really.
The losses whilst in admin are apparently close to £1 million! http://www.express.co.uk/posts/view...m-liquidation-as-loyal-fans-inject-another-1m How can an administrator allow that to happen? Shouldn't he be cutting costs?
What is worrying is that a faction of so called Portsmouth fans have threatened to cause disruption at St. Marys in revenge for comments made by posters on The New site, if the Blues go to the wall.
PKF and Trevor Birch are charging £900 per hour, so another 28 days of that is a lot of money. The trust need to convert 1 pledge per working day hour between now and 15th January merely to keep on top of the admin fees.
The poor standard of administrator is where I do have some sympathy for Pompey (bet that comes as a shock to some), Birch and Andronikou were appalling as officers of the court supposedly meant to be working in the interests of all the creditors. They clearly haven't been up to scratch.
One suggestion was that they would invade the pitch and lose us 10 points...what a plan...how could it go wrong Oh, yes...when they try and buy a ticket without a Saints number.
