SkySports link: http://www1.skysports.com/football/news/11674/7990365/Chainrai-withdraws-Pompey-bid Chainrai says he's withdrawing his bid because of a "wall of rejections" and a "lack of co-operations from the administrators".
I really can't see the Trust taking over. The FL will have to look at those figures and will have to see that they all add up and that their predictions will 99% happen... Thy already don't add up, the FAPP Test to consider so...well... I am truly amazed at this saga now!
ITV have released the following: http://www.itv.com/news/meridian/2012-08-15/supporters-bid-for-control/ The Pompey Supporters' Trust has released this statement after reports that Balram Chanrai is withdrawing his bid to take over Portsmouth Football Club: "We have today been advised that Balram Chainrai and his company Portpin have withdrawn their offer to purchase Portsmouth Football Club for a third time, leaving the way clear for the Pompey Supporters Trust to be able to take control of our club.We call on Mr Chainrai to do the decent thing, and accept the PST offer to purchase his charge on the club, and therefore walk away from Pompey, regaining some of the money he has lost, and leaving the club in the hands of the people who will truly cherish it and ensure that it continues as both a business and a legacy for the future.SOS Pompey has campaigned for Mr Chainrai to finally leave Pompey, and we hope that this latest news could be the light at the end of the tunnel, which ultimately returns the club to the fans.Portsmouth FC is the lifeblood of the fans and the city, and we ask all supporters of the club, the people of Portsmouth and football as a whole, to support the work of the Pompey Supporters Trust, in their continued efforts to secure its future. Pledges are still wanted, and both these and donations can be made via www.pompeytrust.comSOS Pompey intend to hold a peaceful demonstration of our pride in our manager and players before this Saturday’s game against Bournemouth at 2.15pm at the gates of Fratton Park, and we ask all fans to join us in showing how much we appreciate the work of the manager and staff of our magnificent club.
Here's the next bit of his statement Lack of support "At this moment in time, we feel that: - the negative criticism and lack of support for our takeover by the fans of this club. - the fact that the administrators do not want to compromise on their unrealistic fees. - the fact that suddenly the club has received additional huge football creditors' claims from former players and management such as Hughes, Brown, Kanu, and Lampitt and more. - the fact that all the money from the parachute payment which were supposed to carry the club for the next two seasons was spent and committed by the administrator on players' compromises and fees : total £12million. - the fact that the Football League has decided to deduct 10 points for no reasonable reason and by its decisions didn't show any willingness to help in saving this troubled club. - the fact that the supporters' trust which we met and we voiced our support for their takeover bid could not raise the funds to satisfy the administrator or the Football League and the loan that was promised them by the council had unrealistic terms. - the fact that the club did not get any real support from any official they were all very good at creating headlines. - and finally the last straw yesterday afternoon the manager told the press before the season starts that he is sure of another relegation. "All of these facts have left us in a position that we no longer want to fight this battle, we have zero support to save the club therefore we formally withdraw our bid and our honest attempt at saving the club. We will sleep well knowing we did our utmost to save the club. "We welcome and will assist anyone, including the supporters trust to try and save the club in the coming days."
We will in the long term, provided there is one, be better off without Honk Kong Phooey who would in any event have syphoned off as much cash as he could, maybe the PST will be allowed to take over, we will have to wait and see. we will need some experienced players though after last nights result........PUP
Trevor Birch has already called the Trust's bid credible in the past and his firm, PKF, have been working closely with the Trust for months on their bid so he wouldn't call it credible if it wasn't.
The Trust are calling in their pledges: http://www.pompeytrust.com/index.ph...-into-a-community-club&catid=34:demo-category
"and finally the last straw yesterday afternoon the manager told the press before the season starts that he is sure of another relegation" It's all your fault if the club folds Appy! Up until the point when the press asked you yesterday for your thoughts on the impact of a budget 1/3 of that which you were expecting. Leaving aside the fact you'd promised promotion (even with a 10 point deduction) if you got the £4million budget. Thanks Chanrai, we know who we need to point the finger at. Obviously I'm being flippant as I don't particularly begrudge Chainrai (there are people out there with far, far more blame than him). In fact today's developments may just mean he wants the Trust to do a deal so he can take his money from them, cut his losses and run. After all, he probably doesn't need the hassle. I just don't particularly like him trying to shift any apportionment of blame to a man who has been incredibly honourable throughout this sorry saga. What I'm still not particulary clear about is - can the Trust actually do a deal without having "bought" the club from Chainrai in the first place?
Bloody hell that came out of the blue. For all your sakes (SB3 included) I hope that the trust can get through this and take over. Surely there is someone out there who can help the trust find the dosh. Biggest decision if the PST take over is who will be chairman and who will make the decisions where able due to all restrictions.
If the Trust take over the Chairman will be Iain McInness and the Trust will appoint a Chief Executive and an Executive Board.
