BC is to be congratulated on his masterstroke that he would decline the offer to take over at Fratton Park again unless the big earners were removed from the payroll! Some have fallen for his gambit so he is re-purchasing the club quite cheaply. Well done to him! I think supporters should be asking him what his investment plans are - surely he should be using some of the parachute payments to invest in the infrastructure of the club such as the re-purchase of land "taken out" of the club's ownership by one of its previoius owners! Ask him many questions and don't get fobbed off. And if nothing is forthcoming tell him to get lost by staying away from the Park until he and his cohorts are no longer there! I'm convinced in the power of the mass boycott of staying away. A few hundred attending every week would tell him something is wrong. 8-9,000 whilst not good, won't do anything to shift him!
We already know what his investment plans are. He has been quite open about that. He plans to keep the club running until he's got back his foolish/ill-advised loan - 3 years max. He will either sell or liquidate then.
Being a bit harsh to Chainrai I feel. All I can see him being guilty of is making a bad investment in us way back when Gaydamark was in charge. BUT, he has managed to keep us afloat; albeit meaning he had to put us in admin twice, but he has potentially prevented us from being liquidated. It'll be interesting to see where the parachute payment go - technically Chainrai CAN'T take them as the Football League have stipulated that he can only carry forward a small portion of his debt if he takes over. He won't be getting his £18mil back, at most it will be £5mil. What about the other £9mil of parachute payments? Like it has already been suggested, I really hope he buys back the land from Gaydamark; which will completely sever all ties with the unscruplious Russian and also make us a more attractive prospect for future buyers, and also puts a little towards investment in the squad
What they said was that he can only carry forward a debt that is equal to the value of the (assets) ie. the ground - one of the valuations has put it at £13m an earlier valuation put it at £3-5m. We also have outstanding football creditors, including Sol Campbell, they haven't been paid off yet. He might be planning to use the parachute payments for running costs and possibly meeting some of the debts as they become due. He'll make sure he gets his money.
I agree - I think it was CSI who had put the value at £13m - the information came from the administrators who pointed out the wide variations in the valuations.
Whilst not wishing to be controversial, I thought I saw BC in Portsmouth yesterday buying a large pack of A4 sized brown envelopes!
