Portsmouth - A step in the right direction?
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A step in the right direction?

We were told, almost 2-weeks ago, that the CVA that we so desperately need agreeing had been agreed 'in principle,' on the 20p in the £ basis.

Today Admin Andy has told The News that he hopes to have this agreed on further by the end of the week, or early next week and is 'convinced' that this will be officially 'rubber stamped' by early-mid June...

Agreeing the CVA officially, not 'in principle' or 'hopefully' is a must, until this is done we have no chance of doing anything else, or even contemplating moving forward as a club. Once the CVA is rubber stamped, that is that we can come out of administration I believe. Although I am wondering though, once this happens the administrator's job is done, so they move on - can we come out of admin if we do not have an owner though?

I remain 'pretty sure' that Balram Chainrai is going to be, and probably always has been lined up, as this 'next owner,' this will cause MAJOR fractions among the fans and is not going to be liked.

Yep, I have made it clear I will not like this but what can we do?

We might have no other option...both in terms of anyone else actually taking over or the fact that this is, and has been, predetermined regardless! Should fans voice a dislike to this will it make any difference?

I sincerely hope that this does not prove the case as I cannot take another season of 'protests', 'fan fighting' and of course 'fans being screwed over,' which is more than possible...

Rob Lloyd's mob seems to have died a death - I know no news is sometimes good news, but for me a lot of credibility to this 'group', if there was any anyway, has been lost by statements of certain things happening by certain times and this not then taking place.

First and foremost lets keep our fingers crossed that the latest 'positive news' proves true, lets get the CVA officially agreed and signed off and then take our next steps and 'hope' that something which has looked a distinct possibility does not happen...

This worse case scenario being a club without a CVA agreed, stranded in admin, without an owner, without a manager, without players and without the ability to even bring in freebies due to a continued imposed transfer embargo and of course with a minus points total for next season!

Now Mr Admin Andy PLEASE step out of the limelight and come back under the spotlight merely if/when you have productive things to say, like you have today (which we hope proves to be the case) - we have been hearing too much from you plastered over the media over the months, and a lot of it has not exactly been needed. Sometimes you deny things that are claimed, yet you are the one saying these things in the first place! You, and your team, are being paid a handsome sum for what you are doing so with the season out of the way and no further autographs to sign, just keep your head down and get things sorted that you are needed to sort.


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Wednesday May 19 2010

Time: 12:58PM

Your Comments (oldest first)

Change to most recent first
We MUST get the CVA agreed or we are going nowhere!! As to Chainrai he is certianly not the popular choice but do we have any alternative?
Report Abuse
19/05/2010 13:28:00

Rug, Admin has a duty to the court and the previous creditors to ensure good governance; normally for a minimum of a year up to the duration of the CVA payments- up to 5 years. Those people who criticise Chan for bank rolling the club, paying off charities, paying players wages, paying additional redundancies, funding our defence against HMRC, bank rolling a cup run. Paying for administration to avoid HMRC winding us up and basically being honest; all those who criticise him for the MAJOR crime of lending the club money are the same people who cheered the name of Peter Storrie who helped it disappear, I think I'm firmly in the Chix club on this one. You are right the Lloyds bid suffers in terms of business credibility but exclusive of Chan so have the previous three. They can get that credibility back by making a solid sensible bid based on a realistic CVA payment, working on 10-15 p in the was not serious. I guess they are trying to refinance and you have to wonder about the concerns of various people regards the consortia make up; although non existent people, bankrupt sheikhs and the son of a Russian Israeli embargo breaking gun runner would be tough to beat; even by Peter Storrie standards!!!
Report Abuse
19/05/2010 13:44:00

I stand with Rug on this issue, if youve not nothing that needs saying, shut the f*** up Andy! As far as the rest goes, Russ my make some good points, if Chanrai is our last resort, thens thats better than not having one at all, he has also already ploughed money into Fratton, something the last couple of owners couldnt manage at all!! PTID
Report Abuse
19/05/2010 13:56:00

If Chanrai is the only option, is the man who took us into administration allowed to hang around so that he can make some money out of us? Or is it that he won't be staying on as the FC owner, but owns the ground?
Report Abuse
19/05/2010 15:29:00

Chainrai, whatever his motives were at the time, is the man who saved us from extinction. He has always been honest and also declared that he wasn't interested in owning the club. He was thrown into ownership when the previous berks were casting us aground. I know this was probably because he wanted to safeguard the debt owed to him, but it also saved Pompey. His actions since then have been honourable and I wouldn't be averse to him continuing as owner as long as he has the funds to support us. I'm sure he wouldn't lead us into oblivion like the previous owners.
Report Abuse
19/05/2010 17:05:00

This announcement about the CVA sounds like exactly what I want to believe, but I've had a gutful of hearing one story one week and then the opposite the next. Until I hear 'this has been done' I'm not believing anything. Not anymore.
Report Abuse
19/05/2010 18:10:00

But I do agree Chanrai is not the bad guy. I seriously hope he doesn't end up with the club at the end of the day, because having been honest about the fact that he doesn't want to run a football club and just wants his money back doesn't make him the best option for the future. But if he really is the only option I guess its still better than Gaydamak/Sulaiman/Al Mirage. But only in a beggars can't be choosers sort of a way.
Report Abuse
19/05/2010 18:13:00

My take on this is that Chainrai doesn't have the finance, or wish to use the finace needed to sort you out. Taking over the club is one thing but you need some dosh to bring in new players.
SFC Forever
Report Abuse
19/05/2010 20:02:00

I agree with both of Tracy's statements, in fact, couldn't put it better. My only difference is that I don't know if Chainrai is a good guy or a bad guy. He was certainly keeping some dodgy company in the Royal Box on Saturday, and I'm not talking about His Nibs William.
Report Abuse
20/05/2010 00:44:00


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