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Gulp!

Gulp!

The Mail is today 'claiming' that Pompey face an uphill task to have our CVA agreed, which leaves the possibility of another points penalty, 17pts apparently, for next season on the cards.

In fact it is 'said' that this penalty is 'likely' to be the case...

The report says that 'major creditors' are 'are unhappy with the report' that was prepared, and released by Admin Andy last Wednesday.

As I am sure we all know by now should 75% of creditors support the proposal of what they will get back then we gain our CVA and come out of admin, although 'there are already serious objections to a CVA among major creditors, some of whom wish to question the report published by UHY Hacker Young, which estimates the debts of the club at £119million.'

This article also contains some views from HMRC and Pini Zahavi on what they are owed. Along with claims that Peter Storrie 'may not be allowed to work in football again' due to his role on our plight, meaning he would fail premier league, and football league, 'fit and proper' test - with it also said that footballing bodies are 'intrigued' by his thoughts on previous owners, or benefactors of the club at least, and who these really were...

All in all this Mail reports paints a pretty dim picture, with thoughts on 'liquidation' also mentioned.

Portsmouth facing 17-point penalty - here.

Towards the end of last week Admin Andy, among many things, spoke about Balram Chainrai again, and how he has 'the power' to pocket all of the money we make it transfer fees, well up to what 'he is owed'. Speaking of transfers the whole of the squad is now 'officially' up for sale by all accounts with a list of fees wanted for players circulated among clubs this weekend.

Back to Chainrai though, Admin Andy told The News that he remained a 'Plan B' option to be the clubs 'new owner' with it being in his best interests to make sure he does all he can to 'keep the club alive.'

Keeping the club alive is not something that I feel Chainrai has much interest in, taking what he can for as long as he can before he leave the rotting carcass on the side of the road is something I feel is more likely, and/or of interest to him...

For me I VERY MUCH hope that he remains a mere 'Plan B' option, although I am becoming more convinced that he is, and most probably always has been, the one most likely to take over and 'save the club'.

Not a great Sunday so far really is it!

Maybe, not that I want to be too negative, as I have had enough of all the negativity - and do not want to start jumping on Admin Andy's back too much - we need to start, if we have not already, taking some, if not most, of what he says with a pinch, well maybe a large dose, of salt?

He seems to be doing a lot of 'Storrie type' promising of things, which - and maybe it is just the media 'doing what they do' - on the whole - and again, perhaps this is just them doing what they do - is seeing the opposite picture seemingly painted than the rosy, positive one painted for us by him...

PLAY UP POMPEY!


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Writer:pompeyrug
Date:Sunday April 25 2010
Time: 9:22AM

Comments

0
So have I got this right? Someone can buy a football club, spend millions and milions of pounds on tranfer fees and wages in pursuit of a giant ego trip. They can prance around Wembley Stadium with the FA Cup. Then when things inevitably go wrong they can wash their hands of everything and the club they have abused so badly owes them all of their money back. And because they are so-called football creditors they take preference of honest local traders and even charities? Is that all correct because if it is it stinks?
Pompey Half Pint
25/04/2010 10:03:00
0
Sorry that should read "preference over honest local traders".
Pompey Half Pint
25/04/2010 10:05:00
0
Oh God! I hope things can get sorted out. What has happened to Rob Lloyd? Everything has gone quite...
Pompey Malta
25/04/2010 10:09:00
0
Morning Rug...the papers need headlines...and here is one. 3 things can happen. 1.We get liquidated, -long live AFC PORTSMOUTH. 2.Docked points..get relegated again..long live Pompey, albeit in a higher division that AFC Portsmouth would have been. 3. CVA is accepted, a buyer comes in, ( Maybe even nick Eddie Howe as manager) and battle on. My own opinion is that we will get the CVA, David james will become the manager-AG as much as I love what he has done will get so many offers i think he might find it hard to turn down one of them ( a red team from the N/West..with some fantastic pedigree and some big Gates(shankley gates not Bill) I think the bulk of the squad will go to new home. However we will be left with Richie, Sowah and Ward and have to build on that..and last night i had this weird thought Jame Keane returned to the club..Mind you he hasnt set the world alight in Sweden. there you go... To Every Else..AN IDEA> I was thinking that it could be a nice fund raiser for Vital, or for the TRUST. compile a book "the Journey". From the end of the season before we won the championship to May 15th 2010. This would include fans anacdotal memories of certain games and compiled in a season order and a bit of factual stuff like fixture lists etc. Personally i reckon Mr Eastney Dave would make a fantastic editor of such a thing..bang it out for either £10 as a book or £5 as a glossy....If you agree lets get it done.
plymouth graham
25/04/2010 10:12:00
0
All options do not surprise me at all. The gaydamak's and others did not just create a mess they made an enormous perhaps irrepairable one that has a big price to pay. I would like to see more articles on what exactly they did and have their reputations savaged. As is the club's now
dedmans
25/04/2010 10:21:00
0
If we got a 17pt penalty next season does that mean we don't have to pay any money back to the creditors?
moley2
25/04/2010 10:37:00
0
graham thanks for the mention but it sounds a good idea. It would take a lot of work but something perhaps we should give very serious though to.
eastneydave
25/04/2010 12:04:00
0
Rug for me your last para says it all about AA. I've been banging on for a while now that he's PS mk2. Sometimes I think that he's sweet talking us whilst taking us down the road to extinction. I hope I'm wrong, but so far none of his statements/promises have come to fruition.
PFCblue
25/04/2010 13:38:00
0
I have checked and the article is wrong in that 25% of creditors need to object and HMRC with 17% cannot do it alone. Sasha Gaydamak and chanrai are the key players here, if they team up with Zahavi he will pressure other agents and they will likely force the CVA through. I am surprised the UHY have courted controversy over this with some odd debt claims; you would think they would cost it around £100 mill to tactically kill of HMRC's challenge.
russellm
25/04/2010 15:04:00
0
Yes half pint, that's about the size of it. And then another bunch of robbers and crooks - publicitity seekers and invisible men, can come in approved by the Prem, claim to have lots of money, put none in and do a disappearing act with whatever money there was from multi-million player sales. And apparently its all our fault and we're cheats! ~As for what will happen I think we shouldn't panic about the CVA, like it or now AA is in charge and we have to wait and see if he can pull this off or not. Otherwise we'll have an uphill struggle to stay up in the championship next season, but if we keep our spirit and never say die attitude we can do it. After all the scummers didn't do too bad on their -10 start this year did they.
tracyc
25/04/2010 16:38:00
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