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South African saviours!?

It was my understanding that The Guardian was the paper to 'watch' for a potential 'good news Friday' article, although it 'seems' they have been beaten to the punch by The News who was carrying their own 'possible' good news late Thursday article...

The News 'understands' that a South African consortium 'has emerged as the potential saviours of Portsmouth Football Club.'

Consortium close to Pompey takeover - here.

It is 'said' that they 'see investment as a long-term commitment and have already factored in the possibility of playing Championship football next season' and 'the consortium - which is chiefly South African but also made up of other nationalities - are eager to complete before the prospect of administration.'

Not only that it is also 'said' that 'it is believed negotiations are well down the road towards finalising a takeover before the weekend is over.'

I would suggest that if you have anything that you can cross you do JUST THAT and cross it...

UPDATE

And now The Guardian HAS come out with their article.

Portsmouth pin survival hopes on fifth owner of the season - here

This is some quotes from it: 'Portsmouth could have a fifth owner this season after the Guardian learned that Endeavor Plan, a Hong Kong-based investment company, has viewed documents relating to the club's financial position and has informed Pompey's chief executive, Peter Storrie, of its interest in buying out the current owner, Balram Chainrai. It has suggested that 30 days' due diligence may be required before being able to complete.

'Endeavor Plan, said to have interestsin New Zealand, Hong Kong and the United States, received the documentation from Storrie, who has been conducting negotiations to seek a new buyer or fresh investment alone. He spoke to Endeavor's owner, the New Zealand businessman Victor Cattermole, earlier this week and Cattermole confirmed his interest in writing.

'It is understood that Endeavor has said that, should any buy-out be successful, the company is confident of clearing all debts to Portsmouth's creditors within a year. It is also thought that Endeavor's interest in buying was included in the statement of affairs lodged with the high court on Wednesday, before Her Majesty's Revenue and Custom's winding-up petition, which will be heard on 1 March. The hearing is for 12.1m in VAT, PAYE and National Insurance, though the club are disputing a sum of 7.1m in VAT.'

PLAY UP POMPEY!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Friday February 19 2010

Time: 12:25AM

Your Comments

Lets Pray This Is True! And Not Just Another Rumour.
PompeyFcMad
Jesus .. that threw me .. eh Ruggers !.......Hope so Mad .. and believe it to be true
chix
PLEASE let something come off, i do not know either, but 'think' i like the sound of the south african one more - hong kong bring too many links to those that are/have been involved already...
pompeyrug
yeh agree with you rug.
PompeyFcMad
altho lets just hope that BOTH are the real thing and could offer what is needed and the best one wins! altho we CANNOT get too carried away at the moment - lets see what happens, but PLEASE do not let us end in disappointment again...
pompeyrug
Whoever needs to move now, I still don't get why they would buy now when clearly they could buy the asset ( that assumed a financial value is stil) for 20p in 3 wks time. I just don't think it will happen, why are we slling players if ; assuming the guardian is right due dilligence can be done in 45 days; this does not stack up
russellm
This is not wholy unexpected, with talk a plenty about possible takeovers coming from Fratton Towers, I was expecting an iraqy group to come in and buy the club, boy was I wrong. I dont care who buys it, what nationality, who they have sold guns to, or how they make their money, this is desperate times and we need a new leader to take us forward, Im just sorry I dont have enough dough to buy the club, Ive let you all down!!! The problem is still that we could end up being liquidated before someone gets to sign on the dotted line, we are perilously close to the edge of the precipice and Scudamore and HMRC (and some scummers fans)are stood behind us with an electric cattle prod, we need to learn to fly, and bloody quickly, I hope with all my heart that what is in the papers is correct, but Im still not convinced!!!!! I am now crossing everything though, just in case!!! PUP
NZ_Portsmuff
If it will happend, it would be a great miracle, that will create a chain reaction. even though pompey had a very lousy year and more than this, released some important players lately, if that kind of miracle will take place and the fact that this club has a manager on the standrads of Grant and who knows, pompey might have a second miracle. I just hope that we don't put the cart before the horse...
alonrose
Good Luck pompey. I hope all comes right for your club.
Mix26
Pyramid selling scam?
UKTony
lets hope we are through with russian mafia money laundering "business" men
plymouth graham
UK Tony having done a bit of digging, you might not be far off there. Not sure this is our man guys!
bluedr
apparently these south africans tried to buy us before, back in 2008 or something when gaydamak first expressed an 'interest' in selling?
pompeyrug
Victor Cattermole sounds like a Carry On name. Carry On Collapsing.
hammersmithblue
Stories circulating are that Cattermole may withdraw as his son got sent off at Fratton Park last week!!! Wonder if NZ_Portsmuff is involved in the NZ based interest?
eastneydave
Given that the Mangement and owners of PFC are without doubt the very worst collection of business men on the Planet. This story doesn't stack up with the actions being taken! Although they have no shame, pride, accountabilty for anything they have done so far, there is nothing they do that shocks any of us now. The media on our story is out of control and personally don't think anyone could give us a true synopsis of the situation. I have actually got to the situation where I almost done care what happens anymore.
Mike1954
UK Tony...was this what you meant by Pyramid selling scam?http://www.goodreturns.co.nz/article/976488236/endeavour-ignores-securities-commission.html
plymouth graham
That's interesting reading, Graham. Cattermole sounds like just the kind of person who would buy Pompey. Something about frying pans and fires springs to mind. But we are up the brown creek and if he gives us a paddle then that might be all we can ask for. Then again - 30 days due diligence? We haven't got 30 days!
tracyc
Tonight's News has front page headline 'South African consortium to save Pompey over the weekend' I do hope it is true but we all know the News' history of c**k ups!!
eastneydave
Eastney, unfortunately my pocket money wont stretch to buying the club, even if it is only worth a quid...lol
NZ_Portsmuff
3 words.... STRAWS-AT-GRASPING
weloveyoucharlton
 

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