Date:Tuesday February 23 2010
'Talks' are continuing with 'prospective buyers', yet the word is there are no 'credible buyers' out there, and those that 'claim' they would be the real deal say they would not be able to do a deal before deadlines being set...
At the end of the day people can do ALL the talking they want but if the 'simple' question is being asked 'prove to us that you have funds', and do this by getting banks to verify this, but this is not forthcoming does that not say it all?
Extend deadlines, talk until you are blue in the face if you cannot 'SHOW ME THE MONEY' it is nothing but hot air!
Lets face it, lets be logically rational here, WHO in their right mind is going to take on the club as it is at this point in time?
I find it increasingly hard to see why, logically and with a head ruling the heart thought process why, anyone would when they would have to toss away a shed load of cash JUST to break even when they could pick up a club that 'could' have a large amount of its debt expunged by going into administration!
In all honesty I still do not know how this admin proposal would go, and am not entirely sure if we would even be able to do this but surely admin is a batter option than liquidation!
As said so many times my heart goes out to these 'decent creditors' that would stand to lose so much, and also to so many people that work at the club who could come under threat, and I know for a FACT that there ARE a lot of very, very decent people working for PFC who do not deserve this kind of thing at all, but given a choice between having a club or not I know what option I would feel we would have to take...
Balram Chainrai comes out of this laughing either way, basically unless we go into liquidation he CANNOT lose!
Admin, and he will get something back from what else he is owed plus the 'rent' on Fratton Park for the next 15-years - all of this alone would see him recoup, and I would still think possibly more, on what he put in. A 'takeover' and he gets what he is currently owed, having 'written off' some already, in full plus the 15-years worth of rent, meaning he comes out of this £17m 'investment' with a tidy profit, and I mean VERY tidy profit, we could be talking several millions worth of profit!
The guy has ONLY 'written off' money if we are liquidated - something he will not allow, anything other than that and he has merely 'deferred' getting his money back, and more, money that was - lets face it - won in a legal battle with Gaydamak Snr anyway. Not that I am really having too much of a pop at him.
I am 'fairly' confident, just about, that this club will live on as the 'real' Portsmouth Football Club, and do not think we will be put out of business next week (UNLESS we crazily think we can walk in their bold as brass having not taken the admin route - in which case I would think the 'charity' we were extended would run out) but as much as it is 'the cheats way out' for me it is time, again a heart felt sorry to those - most of them - that will lose out, that we do what perhaps we should have done long ago?
In all honesty the initials B and S, it should not be too hard to work out what I am getting at here, would belong to the only people I see looking to invest in Pompey BEFORE admin happened, as would anyone really be willing to toss away as much money as they would have to...
I am almost 100% convinced that admin, assuming admin is still a possible option and something that we can take - which I would think it is, is going to happen and then I suspect that Endeavor Plan will be the ones that bring us out of this, we would then have to PRAY that they are the ones that we have been waiting for to finally give us a stable future and things like what we have gone through become a thing of the past! And we will one day be able to look back and think 'this was a good thing' in a funny kind of way.
All in all none of us know what is what, and it seems a game of cat and mouse is going on but logically I cannot see any other way out than what I 'think' will happen - OF COURSE I would love to be wrong, and seriously hope that my thoughts can be proven wrong in the days ahead, but I just cannot see it happening...
PLAY UP POMPEY!
Date:Tuesday February 23 2010
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