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Denied!

According to The Telegraph - followed up by others after, despite Fifa 'apparently' giving it the green light, the premier league has DENIED us permission to sell players outside of the transfer window.

For me, I think this - as much as I clearly want Pompey to survive - is the right call.

The options now seem 'pretty clear' for us...

Balram Chainrai either puts his hand in his OWN pocket and firstly pays the monthly wages or that will almost certainly be that as turning up to court a few days after the club had failed to pay the wages on time, AGAIN, would almost certainly mean the end of the road.

'If' Chainrai does foot the bill for the wages he would then have to also cough up the money to satisfy the taxman, but will he? Either that or pray that the statement of affairs pleased everyone...

My thinking is that the likelihood is there is a 60:40 chance, against, that he would do either.

Sorry to be so pessimistic, but that is what I think as I cannot see him dipping his hand in his own pocket, although I hope to be wrong. It does not seem to make sense if he does not do anything as what does he get if we go? Not a lot, his grasp on Fratton Park itself will mean little as he cannot do anything with this.

Then again The Guardian, which has also said we are worse off than we thought, today says that should we go into admin he 'could' be sold the freehold on Fratton Park on a 15-year agreement, at least, charging rent of 1m in the first year and an increasing amount in the years that followed...

Well all of this 'could' count for little if this talk of 'interest' in taking over the club is as advanced as has suggested in the past 24-hours or so, and now The Mail is saying that the South African consortium mentioned on Thursday night 'might' have moved ahead over Endeavour, and a step closer, in the 'battle' to do just that.

Although no concrete offer from either has come in.

Should none of this come of then the only chance that this club would appear to have of living on - for how long I do not know? - seems to be for us to take the administration route, although Chainrai 'seems' to profit from this too. As said constantly I am not a fan of this at all, and do petty the ones that lose out - the ones that do not deserve to...

PLAY UP POMPEY!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Saturday February 20 2010

Time: 8:39AM

Your Comments (oldest first)

Change to most recent first
Just woke up from a Nightmare, we were going bust, had 4 owners in 6 months, and were about to be wound up... Phew thank god i woke up and realised it was all a bad nightmare... Lol I mean, As if this could be true, not ever Harry Potter is that far fetched...
Midge
Report Abuse
20/02/2010 12:00:00

Midge, funny I had the same dream. Is it something they put in our water?
PFCblue
Report Abuse
20/02/2010 13:37:00

Selling the ground and leasing it back is what almost killed Brighton off not so long ago & prompted their Fans United Campaign, Crystal Palace also had problems by selling their ground to Ron Noades. Whilst it may look like it's reduced the debts in the short term it's only another step on the road to oblivion.
Steve C
Report Abuse
20/02/2010 14:31:00

Glad it's been rejected. It was a stupid idea.
Mike1954
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20/02/2010 14:51:00

i dont agree Steve C, in our case it would bring in much needed cash, provide a structural finaance base, with a fixed payback and as the ground would have been sold as a football ground it would almost certainly have to stay as that for 15 years. There is almost certainly a fixed buyback clause and lease payments are now tax deductable. This leaseback option is only viable if sasha and Chanrai have come to some agreement over the surrounding land. We are not in the same case as Palace where the monies were used to fund redevelopment, this option is to make us more attractive to buyers.
russellm
Report Abuse
20/02/2010 16:45:00

I can't see that disposing of the only fixed assett the club has is going to make us more attractive. We haven't brought in any money because he's just written off 10 million of what was owed to him anyway. with the 1 million a year rent being bandied around over 15 years he will make a tidy profit on the deal and then the rent can be upped as he sees fit. There will be know incentive to redevelop Fratton Park to get more fans in as they won't own it. Brighton came to the end of their lease and then spent years in the wilderness having to play at Charlton, Gillingham and a poorly converted small capacity athletics stadium, they thankfully will be playing in a new stadium very soon but look how long it took to sort that out and how close they came to extinction during the process. Will we be watching Pompey at the United Services Ground in 15 years time? Or worse at St Mary's!
Steve C
Report Abuse
22/02/2010 14:00:00

 

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