More info from the webchate: * there will be no penalties for starting the season in administration - the Football League has confirmed it - the 10 point deduction will be levelled once the club exists admin, no extra penalties will be added to it * In answer to Beef_Dripping's earlier question, compromise deals have to be re-negotiated. * there will be a Football League meeting tomorrow to discuss many of the issues involving Pompey, including whether we can sign players. * If the Football League give the go ahead Pompey will be able sign players on short-term deals while in Administration
Yes but you have Kanu demanding 3mil (i think), Chanrai said all the wages owed plus other money you owe comes to 12mil. That's a hell off alot of money to get.
I have to go off to work in a minute so I cant report on the full hour of the webchat. So if no one else does it I'll put up any important info when I get home later.
Maybe they should all transfer their debts to shares Don't forget that the agreements are over 4 years and PST won't be taking any funds out of the club for themselves so it does look doable, even if none of the players renegotiated. Hard - but not impossible.
Birch made it so the PP you were ment to be getting has been used to pay off these debts, that's why Chanrai ****ed off. Do you think the trust can afford to pay wages etc for a year?.
In the long wouldn't it be better for PST to invest in a pheonix club and not have any debts that way in 10 years you could be back in the Football League and free of all this. Surely there is no point in keeping Pompey alive if your going to slid down the leagues due to not being able to pay off the debts? Good luck to the fans going through this.
We shouldn't forget that the club actually has other income streams, not just the PPs and golden share. Sponsorships, food/catering etc. etc. etc. My firm belief is that it is going to be a really hard 3-5 years before the benefits are really felt, because of the historical debts - but with expert advice along the way the fans can make it work.
There was a bit of chat about Chanrai pulling out of the bid in our office this morning with the few remaining Pompey fans seemingly glad at this result. Conversely, the Saints fans were largely of the opinion that PST will never get the money to mount a successful bid. I would imagine that a lot of the people who had pledged money are now likely to have their mettle tested. The problem of keeing the club going will prove a very difficult task for the club and I am doubtful whether they will have the money required to maintain an even keel at best. Appleton had an impossible task and couple with the league's restrictions, I don't think they will make as good a fist of things as Chanrai should be able to do if he put his mind to it. The consus amongst the Saints fans I work with is that you are screwed if the PST bid succeeds. PF urgently require investment in the playing staff - we had a squad of youngsters several seasons ago and once a number of matches are lost and the heads go down, you won't recover. The PST are romantics and I think more than this is required if you are to get out of League One or, more relastically, avoid a swift descent into the fourth tier. Ultimately, the PST won't be able to support Appleton and I can see him quickly being snapped up by another team who have the money to let his build a squad. Some relief for Pompey fans but i think a successful PSt will be the first nail in the coffin for you boys.
