Portsmouth - Lets see what Monday brings...
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Lets see what Monday brings...

Obviously I did not see this, but was sent a text prior to yesterdays game about it, but Peter Storrie was on ESPN Soccernet last night talking about another possible takeover.

A deal is 'red hot' to sell the club to this South African group - as mentioned in The News on Thursday, who are now being asked to 'prove' proof of funds being available: 'a deal to sell the club is red hot, proof of funds has been asked for, it's been lodged with the lawyers, and now all we need to do is to have those proof of funds lodged with the bank, and we can go ahead with the takeover.'

Being 'concluded in principle' is something that may well be the case tomorrow - fingers crossed, and without the need for administration: 'we want to keep this club alive, we don't want to go into administration and lose nine points, we believe we can conclude a deal to sell the club.

'We've been talking to the South Africans quite heavily all last week, and we are hopeful, but we've been there before, so let's see what Monday brings.'

Storrie also made 'claims' of being 'abused by fans', well both he and his family, because of the proposal of selling players that came along during the week - something that he says was actually the premier leagues idea, even though they rejected it: 'that was their suggestion, the idea came from them in the first place. I can understand objections from other clubs but I didn't even know such a rule existed.

'But myself and my family have had very serious threats upon myself personally, and we've had to take a lot of abuse.

'I am staying on because I love the club and have worked so hard to do everything I can in the next few days to keep it alive.'

To be honest I have little more to say on Storrie, I have said pretty much everything that I have to say - ok, if this abuse against him and his family has come along, this should not happen but I DO still maintain my thoughts that 'should' we get out of this mess then the honourable thing for him to do is resign, either that or 'possible' new owners move him on.

For the sake of EVERYONE, him and us, I think we need a clean break from this board that we have...

In an attempt to help along this move Balram Chainrai has 'written off' 10m of his debt, not that he has written this off as such as he will get around 1m per year in 'rent' over a 15-year period as a result of taking possession of Fratton Park - should a takeover go through, and so long as he 'plays fair' this, whilst not exactly a good thing, is not a totally bad thing.

Lets see what Monday, or this coming week, does bring - although what I would say is lets NOT be too quick to jump on the 'I do not believe it as Storrie says it' bandwagon, yep in all honesty I cannot say that I totally believe what he says but lets at least see what this week brings.

DO NOT raise hopes, but lets just keep fingers crossed that something can be agreed ahead of the following Monday's court case as our survival would look much better if we had some new owners, we would then have to hope that they CAN and WILL deliver what they would need to...

You can watch Storrie's ESPN interview - here.

PLAY UP POMPEY!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Sunday February 21 2010

Time: 9:04AM

Your Comments (oldest first)

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Heard it all before, if it is true fair play, but does anyone think so?
paultsmouth
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21/02/2010 09:27:00

"now all we need to do is to have those proof of funds lodged with the bank, and we can go ahead with the takeover"....So why the hell didn't they do that with the other duds???
cornypomp
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21/02/2010 09:47:00

What are the motives of anyone buying the club at this stage? They would simply be taking on liability for the debt, and they wouldn't even own the land (if it is true that Chainrai would keep it). So a Championship club (at best), playing in a crap stadium that they don't own, with a depleted squad of players, limited tv income, unable to service the enormous debt - why would they buy it? In any case I am not happy about disposing of the freehold of the land, as it puts paid to any idea of redeveloping the stadium for at least the next 15 years. I would rather we went into administration, got rid of the present owners and directors, and hope that the Administrator could come to an arrangement with the creditors and salvage something viable from the wreckage, which could then be transferred to somebody actually interested in foorball - preferably the Supporters' Trust.
erithacus rubecula
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21/02/2010 09:50:00

We've got no choice other than to hope they can sort it out.....is there hope? Really?
Tantona
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21/02/2010 10:14:00

Very good points erithacus rubecula.. (brilliant name), I must admit though to being totally non-plussed as to how this is all going to work out. You can bet your boots though that those who are pulling the strings are doing everything within their power to ensure a less damaging result for themselves. Interest in football doesn't come into it.
cornypomp
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21/02/2010 10:15:00

Good points Robin or erithacus rubecula whichever. Stall we all use Latin names.
eastneydave
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21/02/2010 10:24:00

We don't know he details of the deal to buy the land and we have no idea what is written into the contract about a future purchase .. So all is not lost.. That said Mr Latin (can't be arsed to copy spell it) Makes some good points .. But in spite of everything I still believe that Pompey has the potential for a good long term investment... It looks bleak but I am not giving up hope just yet.
chix
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21/02/2010 10:44:00

Eastus Davus?
paultsmouth
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21/02/2010 10:44:00

I think echinacea rubblecube is doesn't know how leaseback works, tax recoup works or the advantage of fixed fore budgeting; and it doesn't mean no development can take place to the ground it means Chanrai gets a toe hold. This on the whole a good thing. Take a breath now
russellm
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21/02/2010 10:54:00

Eastus Davus.....who's he when he's home???
cornypomp
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21/02/2010 10:54:00

Latin is not Paul's strong point!! lol
eastneydave
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21/02/2010 11:30:00

pompeii rugus?
well, what do i think will happen here? i do not know...obviously alot of pre-game talk centered around the 'can a takover happen' debate.
my heart tells me it can and will as we have so much to offer, then again this is a blue heart that is willing this...
my head tho, when trying to be logical and taking everything into account says, despite being in such a prime location and having so much potential to work with with the massive amounts of debt that need writing off before anything, a team destined for the championship and without the infrastructure in place WHAT exaxtly do we have to offer? as said debt, in excess of 60m needs to be written off before anything - so that is 'wasted' money, they would then need the same or more to get the infrastructure in place - does someone really have 120-200m that they are willing to outlay before they can even contemplate a return?
letting us go into admin and then picking up the pieces seems the more logical approach from anyone coming in...
pompeyrug
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21/02/2010 11:40:00

I think we have been done..by The Gaydamaks and Zahavi and all the rest...l if some one could really ook at the incomings and outgoings, there is probably a massive surplus of cash that is simply unaccounted for and allthe transfers and agent fees and wages etc are smoke screen to hide the money in some russians bank account...i dont believe SAFor ALF - who i think probably owns a sweet shop in Dubai but earned a bit of cash as a figure head- ever owned PFC any way..I suspect Arcadi has had it all along..It is encouraging that today it appears that Chester City have found a Danish Consortium to take them over, and might mean that our SA buy out may have some merit..but i doubt it very much...it can only be a group with the propectof investing in a new Tesco and shopping complex and housing project in the Hampshire coastal region...Administration..hm probably liquidation
plymouth graham
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21/02/2010 13:02:00

There's so much negativity around at the moment the new owners hardly stand a chance do they? .. Are they not doomed before they start with the ever growing cynism amongst certain sections of Pompey fans who now believe everybody is either bent or about to rip us off and continually chant that there are no honest people left in the world ... Heaven help us !
chix
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21/02/2010 14:55:00

Carrying on the latin theme; Shittus upus. Storius Mattis.
storagematt
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21/02/2010 18:25:00

Pentoniouspompeious....Bugger writing that out every time!
pentonpompey
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22/02/2010 10:41:00

There's so much negativity around at the moment the new owners hardly stand a chance do they? .. Are they not doomed before they start with the ever growing cynism amongst certain sections of Pompey fans who now believe everybody is either bent or about to rip us off and continually chant that there are no honest people left in the world ... Heaven help us ! chix We nearly died last year and were saved. You will be as well.
SFC Forever
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22/02/2010 19:11:00

 

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