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'Unprecedented deal' to be struck with PL?

Admin Andy is working on striking 'an unprecedented deal with the Premier League to guarantee the survival of the club,' according to an interview that he gave ESPN.

Portsmouth in talks to guarantee club's survival - here.

Quite what this 'deal' is remains unknown as he said he was: 'not at liberty to go into details just yet, but all I can tell you is that the Premier League has been extremely supportive of the club and the measures being put into place will have huge benefits.

'It will secure the future of Portsmouth, together with the other measures we have now put into place regarding cash flow. It means we are not being rushed into a sale of the club, so the process of selling the club will continue for a while.

'It is not even a question of proof of funds - we are looking for the people with the right credentials. The issue has been resolved, as we don't need a buyer in the short-term.'

Advanced payments of parachute money and players being sold, yet 'loaned' back to Pompey, have long since been mentioned and 'if' things are going as well as he says they are 'perhaps' these are the areas that agreements could have been, or could be, struck on?

Clearly, whilst the advancement of parachute money etc. will be a good thing to reduce some pressure on us, as would be the ability to sell players now, but we do also have to have an eye on the longer-term as well!

What happens when future payments etc. are needed, yet without money to come in what happens then?

It is essential that any planning is not just a 'short-term' fix that could in many ways just delay future problems? Also, as far as selling players now goes we have to keep the club as 'attractive' to a prospective buyer as we can and they will need to have some assets left...

All in all though, lets see what is going down - but at the end of the day Admin Andy has a job to do so he is doing it, part of the administration process is making calls that not everyone will like, but calls that are basically needed to be made.

If whatever deal he is doing can 'guarantee the survival' of Portsmouth Football Club that cannot be a bad thing can it!

PLAY UP POMPEY!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Wednesday March 17 2010

Time: 3:49PM

Your Comments (oldest first)

Change to most recent first
Must be that we are getting the Parachute Payments early which is a buy off for the 9 point deduction. Means creditors will get some payment but that a buyer of the club will need to find running costs for next season.
bluedr
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17/03/2010 16:05:00

Interesting times Rug, you would have to imagine this unprecedented deal is advancement of this years parachute payment; this would enable early funding for the CVA. LoL or praps good old lovable Sasha Gaydamak is going to give up on the 30 mill the club owes him and said " tell yer wot Andy, have the land as well, go on I insist",or maybe Chanrai has decided he desperately wants the chance to vist Port Vale next season so has decided to buy the rest of the club!
russellm
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17/03/2010 16:10:00

I'm far more worried that the Administrator is showing his colours here as wanting to get the best price for PFC rather than the right deal....Not for the majority of creditors but for his buddy balu !! I think this statement from Admin Andy shows that we are more than likely going to be getting further points deductions next season as they will keep us in Admin until Chanrai is happy he's got the best possible deal !!!
BarneyArmy
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17/03/2010 16:10:00

Just don't want the parachute monies going to the new owner who uses for their interest & not our. Cynical but plauseable.
storagematt
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17/03/2010 16:11:00

Praps the PL are going to AWARD us an additional 9 points
russellm
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17/03/2010 16:11:00

Immunity from relegation is what is being talked about!! lol My meeting with the Administrator on Saturday is going to be very interesting. Think I might need to refill my notepad.
eastneydave
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17/03/2010 16:20:00

No more points will be deducted unless we DONT complete a CVA, it just means we DONT have to panic sell to another person with no money.
Midge
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17/03/2010 16:24:00

Not sure quite how barney comes up with his theory, my joking theory about Chanrai might just be true as AA says no new owner. But i think Midge is closest and surely we all agree the CVA is the priority. Dave i think you might need a secretary.
russellm
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17/03/2010 17:50:00

immunity from relegation WILL NOT HAPPEN. that would actually be unfair on other clubs, and I would not want that. unless of course the financial situation is so bad that relegation would actually kill us...
pompeycarpet
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17/03/2010 18:31:00

If it is an advancement of parachute payments, then perhaps we can pay off the HRMC and help get the club on a more stable footing, but the other side of that is we need that money to run the club next season. As for immunity from relegation, how could we look other clubs in the face if we had that? Might as well scrap the whole league and not bother! Dave your meeting with AA is going to be interesting!
tracyc
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17/03/2010 19:08:00

Surely running costs,e.g. Transfer budget etc., would come from the new owners who would be able to come in relatively debt free?
bstanle
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17/03/2010 20:38:00

Mirror is saying parachute payments. Find out soon enough I guess.
SFC Forever
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18/03/2010 08:18:00

Its a 2 edged sword unfortunately. Get parachute payments early, pay off some debt (i.e. Chanrai/Gaydamak/HMRC) and then the club has no income to support itself over the next 2 years - therefore more difficult to sell. I think this administrator has got alot of questions to answer, but they need to be questions that have been well thought out !!
BarneyArmy
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18/03/2010 10:02:00

 

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