Chainrai has said he would become a reluctant owner again to save his investment. Which he says is near 20mil, he has also said he is due to talk to Birch about it to.
Hhhhmmmm - what this means for Pompey. Let's see - asset stripping - nope............ no assets left. Sales of players - not sure he understands how many players are needed for a team - he likes to sell, sell, sell. He's coming back for one reason only - he thinks Birch is going to liquidate and ergo he loses his "investment". It wouldn't be so bad if he actually restructured the club/business - but he doesn't want to do that - he just wants a quick sale.......... anyone will do, he doesn't care how dodgy....... because he wants from PFC the money he "loaned" to his own company Falconedrone.
So basically Birch allowing Chanrai back in would be prolonging the agony, when it would be best just to go bust and reform in the lower leagues, with no debt and a clean slate.
Surely he would have to invest much more than £20 mil to become the owner again, making it more sensible to lose the original investment?
Seems like Chainrai is looking to be Pompey's Leon Crouch. If he keeps the wolves away they'll end up thanking him.
Surely Chanrai has no active involvement with PFC per se, just owner of the land NotArf is shat on? The 17million "loan" security being the site. If so, this claim this is non negotiable with regards to dissolving the club or future CVA isn't it?
Well he owns the stadium and the ground underneath it. Said to be worth £17M, or at least that's as much as he's into. he's the one in the best position to do anything, if anyone is. An outside buyer is not going to give across proper amounts of money.
I'd like to say he's not the worst thing to happen to PFC - but - he could have used his tenure to restructure the business part of the club and he didn't. During his time in charge: 1. David Lampitt was appointed CEO, reputedly on a very high salary. 2. Storrie was kept on as a Consultant, on an eye-watering amount of money. 3. Lawrence & Kitson were both signed on the high end of the salary scale. 4. Brown & Hughes were on Storrie negotiated contracts which had a games-played automatic extension trigger - they were both offered new contracts (reports said at less than 1/3 of the current contract) they both attempted to negotiate - contract offer withdrawn and they had to sit in the stands until their contracts ran out. Now hands up everyone who will happily sign a new contract at less that one-third of your current salary! 5. Tal Ben Haim's loan wasn't extended at WHU and he had to sit in the stands - no reason given 6. The small creditors who were owed up to £2500 were promised payment in full by Chanrai - never happened, he tried to pass that on to CSI. And now we have a nice new Administrator - who is so shocked by what he's finding.......... and yet........ it turns out that he did the due diligence for Antonov's CSI. Honestly you couldn't make this up.
I can't see how he'd do anything but prolong things. Is a potential owner really going to invest in what appeas to be a web of deceit and pieces of paper with titles and deeds on it. The only type of investor I can see that would make any sense (financially) is someone who wants to build a big supermarket. Birch seems to be down the middle, so I can't see his selling it back to Chanrai as progress, unless he wants to be back in there again in 18 months time.
In the light of all that has gone on so far it will be inmteresting to see if the Football League deem him to be a fit & proper person to own a football club! I think they would approve a second Bin Laden if it saved them any embarassment over their previous howlers
If Chanrai has a piece of paper saying than PFC owe him £17m secured on Nottarf, then he might get his money back from PFC? If they go bust what do you reckon it's worth, bearing in mind that it can only be used for sports? I bet on th open market there would be no takers for anything like his valuation. It's not asset stripping. He is trying to make sure that he gets his money out.
As this was posted on the Southampton board, I presume my "ban" from commenting on Pompey does not apply. The terms of my "ban" doesn't make this clear. Apoligies to the many many Portsmouth fans that maybe offended by my opinions on this subject, and may I suggest they place me on ignore to save bothering their hard working traffic War...sorry..Mods. I would find it ironic if Chinny came back to rescue the Blue many from being liquidated, bearing in mind that all we've heard from the Blue Many over and over and over again is how the league should have tightned up the FAPPT. Perhaps the FL should take their advise and stop chinny saving the club...........
I don't want to see Pompey go but if Chanrai is the best or only hope they are doomed. Better to fold and start again. No point prolonging the agony.
