Just a thought... By the time Saints travel to fratton park on the 18th December, there's a good chance Pompey will have been docked 10 points, which would leave them bottom of the league. So, it could well be top v bottom that day, who'd of thought that a couple of years ago?
Pompey shouldn't get any deductions as it is the FL that sanctioned the takeover after due diligence.
And it's Chanrai who also approved the sale to a mafia obsessed, dodgy businessman. More fool them for not checking who they were selling to for the 19th time round.
i agree to a point, although the football league should be looking at investors more closely, as should portsmouth themselves although a crook isnt going to care i suppose
Look at him closely and do what? At the point he took charge he hadn't done anything wrong in the eyes of the law. Hardly grounds to rule him out of a takeover even if his past did look "dodgy" to say the least.
I'm hoping they don't get docked points, simply because they really ought to do away with the points deduction entirely. By the time that a team hits administration, the owner generally is looking to unload them anyway, and buyers likely aren't thick on the ground...docking points only makes it harder to find a stable owner, because it places most teams under immediate threat of relegation.
Am I missing the point? Pompey owners are in Admin - why is there a question mark over the points deduction. OUR 'Parent Company' went into admin and so did we in the FL eyes. I don't wish any team bad, but surely precedence has been set? Ah I get it, rules do not apply to Pompey........... - No7 PS sorry Pompey fans - I feel for you, (i really do honest!) but so many other teams have got the points deduction. I feel you really will benefit from this as we did...I can't believe you're so unlucky with owners.
simply to see if he actually has the necessary finances, as well as his background - its what the supposed "fit and proper" test does
The Football League meeting to discuss the matter isn't until next week according to Neil Allen of the Portsmouth News. The Pompey argument is that their case is different to Southampton's because they claim the club and the holding companies are not closely linked financially in the same way Southampton FC and Southampton Leisure Holdings were. Whether that holds any weight with the Football League we'll have to wait and see. But given than Chris Akers admitted to the Guardian that Antonov funded Pompey to the tune of £10.5m in the summer for players and wages, it would seem they are reliant on his money (money which was possibly stolen from Lithuanian/Latvian bankers).
The background checks are merely to see if he is able to be a director/owner and doesn't have anything that legally prevents him from doing so. The bank fraud allegation only came to light recently. He has no prior convictions, so at the point he brought the club he was free to do so.
Granted it's a Pompey website, and hence biased towards Pompey, but I found the article entitled "HALL RIGHT NOW: Time for those with influence to step up to the plate to save Pompey..." on the website http://www.pompey-fans.com/ to be an interesting read (save for the third to last paragraph, where the author's obvious Pompey biased comes in and he starts talking complete nonsense) This article, together with what else I have read, certainly leads me to think that the Football League has a lot to answer for in letting Antonov get involved (not that they of course will).
Without outside investment and crowds of just 12k how do you think they will pay wages beyond January/February and the CVA payments due to start in March/April?
Whatever the outcome of CSI going into administration and whether it means a points deduction or not the clock is again ticking for Pompey. I think it's pretty fair to say that they're unlikely to be living within there means like the vast majority of clubs. I don't know exactly how many players they actually hold the registration of but it could mean that one may have to be sold in January to keep the club afloat until the end of the season. I'm being a little lazy with my research but it looks like Chainari is likely to come back in for the club as the investment and money he has tied up in PFC is too big to write off. He may well keep the club afloat, but is unlikely to offer any further investment and throw good money after bad. Whilst he may stop the club going under as already proved he is unlikely to care where a buyer comes from as he just wants his money back.
CSI didn't own the club 100%, they bought it on an installment plan with Chanrai retaining his lein(s) within the organisation. They will default on their next payment and Chanrai will assume control of the club again. It is then up to him what he wants to do. He could lace the club in admin, but would lose too much money. If the club was to go into admin now, the CVA would never be paid as parachute payments would go to chanrai due to contracts written up, the FL won't allow this so won't force them into admin. The CVA payments are also due to start, that doesn't mean they need to be paid from that date, they can pay the full amount on the deadline day.
All correct apart from the last bit. The Supervisor of the CVA can allow a degree of flexibility, but not quite that much!
Pompey keep dragging themselves on like a fatally wounded animal. Unless there is a fairy godmother who is a billionnaire with more money than sense, I can't see how they will get out of this. The supporters might be happier in the long term if they folded and went out of business and were reborn as a nonleague side. I'm sure they have some rich fans who could supoort a nonleague side and they have a good fanbase to help bring the club back up. Don't think it will happen because there are still people like Chanrai trying to get some money back, but could be easier on the fans after the initial shock.
Q " How do you make a small fortune from a football club?" A "start out with a big fortune" For any investor to buy into a club outside of the premiership, there has to be a compelling reason why they think it can be bought on the cheap. With saints it was the infrastructure, ground, academy, fan base and history. With Pompey it would be, errr, um, errr. the fact that they were once big, and their ground was once adequate. That is why they attract chancers who look to make a fast buck on property or tax scams. bad times ahead I fear!
