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Light at the end of the tunnel

Light at the end of the tunnel

News has started to filter through over the past few days that there is 'light at the end of the tunnel' for Pompey with an end to administration 'hoped' to come by the end of the week.

David Lampitt said: 'we've submitted everything we need to and, hopefully, we'll get the decision we need.'

'Reports' today are saying that £3.5m each year, for the next 4-years, will be repaid to creditors with Balram Chainrai agreeing to 'cover any shortfall in the payments Pompey must meet to avoid a further points reduction' to the sum of £7m.

I wonder what rate of interest Chainrai would be charging for the repayment of that money to him though?

Unless, which 'could', yet I find unlikely - especially in this day and age of 'money lending' in football - be something that does not need to be repaid to him...

The most important thing for us now though is an end to admin is within sight, all being well!

'Word on the street' has it that this will be announced by 9am on Friday.

When this is confirmed the next phase in the rebuilding of this club can begin, ensuring that we do things the right way is a MUST...


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  • Writer:pompeyrug
    Date:Sunday October 10 2010
    Time: 6:55PM

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    Sounds like good news, but why speculate on the interest rate Rug? At least BC is still covering our backsides - a 'thank you' wouldn't go amiss imho.
    10/10/2010 19:35:00
    because - and it is GOOD news to be coming out of admin when it happen - lets face it you do not get something for nothing, especially in football these days so anything chainrai puts in its almost certain that he would be getting something back on this investment...
    to be fair chainrai is not along in this tho, virtually all owners are the same with this as football is 'a business'.
    whilst i have had reservations about chainrai, and i am still concious of letting guard down to much i do want to make it clear that i AM going to give him a chance to prove himself.
    10/10/2010 20:32:00
    Just being out of admin is a step up though, at least then we won't have to go cap in hand to the league every five minutes when we want to do something
    10/10/2010 20:56:00
    Rug, interesting ( scude the pun) question so we are in the atill and west and I asked someone with an enourmous smartness frontal cavity and he said QUOTE "well it has to be at court approved commercial rates ; your round miller- go on disturb some moths" - cheeky fuqir- im not that fat! Anyway any money related to an Administration has to be at or below commercial rates. I do think we are finally at the end game now and it all depends what the man Chan wants to do next.
    10/10/2010 23:06:00
    Pleased to hear that Russell, I seem to recall that Gaydamak was charging Pompey 17%.
    10/10/2010 23:33:00
    PFCblue - a little early to be calling BC God I think... :P
    11/10/2010 10:45:00
    I hope that this is finally the light at the end of your tremendously long tinnel. It would be nice for us to start talking football and returning to the normal banter. We are better than you, oh no you ain't remember 4-1, etc etc.
    SFC Forever
    11/10/2010 11:26:00
    interesting that mandaric says anyone prepared to buy pompey right now is suffering financial suicide... which would explain the lack of bids from any other interested parties. so for that I admire BC for at least trying to protect his investment and the club... I suspect he is hoping to add value to the club and sell at a later date. im sceptical about the immediate future of the club... but I wait to see what BC has planned.
    11/10/2010 13:54:00
    I hope we do exit admin, but we seem to have these deadlines come and go so many times. As for the Chan man, I can't see any better options at the moment, so fingers crossed for the best. I wonder if we'll exit admin as Liverpool go into it?
    11/10/2010 18:49:00
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