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What is going on?

What is going on?

I know it sounds even paranoid, but Thursday's decision NOT to allow us out of administration when it was 'meant' to be almost nailed on, on the surface looks like it is taking us to the brink?!

And leaves me asking the question, 'do they want us to go out of business?' By 'them', I mean the football powers...

Although is this really the question we should be asking? I do not know though, and we need some answers so we know what the score is exactly.

When Admin Andy talks sometimes you sense that he is exaggerating or, also sometimes at times, trying to rub people up the wrong way by accusing everyone of this, that and the other.

Perhaps, in some instances, when many of us have felt he was going 'overboard' he perhaps had a point? I know, as a club, we have to help ourselves, but from the sounds of it we literally CANNOT do anything more to appease the football league - yet they are still not satisfied!

It now appears, if it really is the case, that the football league are requesting that Balram Chainrai 'waives' his right to regain the £15m that he put into the club, which under the terms of the way administration in football, and the way football works full stop - rightly or wrongly - he is 'entitled' to regain.

Surely if a CVA is agreed and approved, and this agreement had this as part of it, so this agreement includes the repayment of this money HOW or WHY can the goalposts now be moved, which seems to be what is being asked?

As said the club have to help themselves, and as a club we have not always done this - then which club does? Granted ours has been worse than others at times but no one seems to be cutting us a break!

The 'rumours' that we would be asking for a deferment on wages because we could not afford to pay them due to a non-payment of monies from Sulley Muntari's move to Inter does now 'seem' as though it has more truth to it than we might have thought.

Without an owner financing the day-to-day costs of running a football club - even if they are looking for a return on this as most owners do - when the money runs out the money runs out, that is that...

His comments that it is 'virtually impossible to keep trading as a club' could be an exaggeration; then again they would probably be close to the truth! Much as we cannot live without air to breath a club, or a business, cannot live on without money flowing throw it.

Is Admin Andy overdoing it and are the football league being unfair with what they are asking - by asking for that too be written off they would be really - or is it something more simple to rectify that, for whatever reason, we are not?

Then again are the football league just looking for assurances that Chainrai is just not looking for his money back then will bugger off leaving us in the lurch - are they looking for greater assurances that he is looking to provide us with a solid future not just a short-term soluation before leaving us high and dry again?

David Lampitt seemed certain that things would work out fine for us and we would be out of admin by now.

We are not, so we need some official clarification as to how dire the situation really is, so all being well this will come soon as part of the new transparent Portsmouth football club. As a collective group of supporters we need to know exactly what is going on...

This bumpy ride that we have been on, which sometimes smoothed out, is going to get bumpy again although can we weather this latest, and potentially most dangerous of all - if things are as dire as painted - storm?!

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  • Writer:pompeyrug
    Date:Friday October 15 2010
    Time: 9:01AM

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    Comments

    0
    Too many conflicting stories again.. Last week we were told the club could stand on it's own feet again (financially) .. this week we are told that without the Quincy money we are doomed .. Only yesterday Lampitt issued a statement stating that he was confident of FL approval .. Either PFC's new set-up (Lampitt and Co.) are incompetent or the FL really do have it in for us .. I know which I believe
    Chix
    15/10/2010 09:42:00
    0
    Well in that case Chix it's got to be that the FL have it in for us. Lampitt came with plaudits from footballs powers that be, so surely he knows what is and what is not possible. This has taken me totally by suprise and I'm gutted that yet again the clubs future appears to be in the balance.
    cornypomp
    15/10/2010 09:54:00
    0
    If a new buyer surfaced would BC still have to forfeit his right to his £15m, or would the new buyer have to repay BC before the FL would sanction the takeover?
    PFCblue
    15/10/2010 11:03:00
    0
    I was surprised and worried when we signed Lawrence and Kitson. It did not seem right for a club in administration. I think that the League are right to be wary of BC and AA, but it is ludicrous if we have to wait another month for the next step.
    wellyit
    15/10/2010 11:15:00
    0
    This is Seriously Worrying! We need to be bought and need cash!
    pompeyfcmad
    15/10/2010 11:43:00
    0
    Chix, if the FL had transferred the share we could have. Why are Inter allowed into the Champs Lg if they won't meet their obligations. Also Lampitt knows what is required and wouldn't have submitted without being sure; and I heard him say he was happy with what was forwarded when asked by a reporter. I think if Chan is being asked to give up security so should every other mortgage holder in the FL be asked to do the same.
    russellm
    15/10/2010 11:55:00
    0
    It seems that PFC is the one and only club that must abide by their yet sanctioned new era of squeeky clean solvent, asset rich club owners!!!
    dedmans
    15/10/2010 12:33:00
    0
    I read that AA says the board want 'Portpin to waive its £15m security as part of the Company Voluntary Agreement - the repayment plan to creditors. But he said this was never going to happen 'in a million years'.' So is this holding it up? They also say that Balu could walk!
    dazza0410
    15/10/2010 12:39:00
    0
    PFCBlue BC has the mortgage security so he has to be paid off.
    russellm
    15/10/2010 12:47:00
    0
    This is worrying indeed, and we are as close to going out of business as when the court case was on......Might even buy a programme tomorrow (just in case!).....heard some nasty rumours coming out of the training ground today.....EEK and double EEK !
    BarneyArmy
    15/10/2010 13:37:00
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