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And look who's back...

And look who's back...

Well 'technically' not back at Portsmouth Football Club but Admin Andy is back on the scene as he is 'looking after the assets of the holding company' CIS after they went into admin today...

He, as he told sky sports, though is looking to 'find new owners' for us again: 'at the minute our role is to find new owners for the business.

'The circumstances are beyond the control of the club, unfortunately in this situation the shareholder, or the shareholder of CSI group has his own difficulties and we have had to come in to take control of all his assets including Portsmouth Football Club.

'Currently we are in discussions with the board. The short-term future is secure. They need to address the medium to long-term view and find a new owner for the club.'

Whilst he 'reiterates' that PFC are not in admin, something The Pompey Site also pointed out earlier, there is still a very likely possibility that a points penalty will again be imposed on the club but that is not his concern it would seem: 'I am hoping a points deduction is not a prospect but that is a Football League matter.

'We are different circumstances to the last time. I reiterate the club are not in administration. We are looking after the assets of the holding company.'

The problem is a 'precedent' was set when Scum went into admin, so it would seem unlikely that we will avoid a similar fate...

They were still a 'going concern', as are PFC, but when their parent company went into admin as they and Leisure Holding 'were inextricably linked as one economic entity' the football league docked them points.

On that basis can we really expect to avoid a similar fate?

Our argument, and a fairly valid one, surely would be that the football league classified Vladimir Antonov, and CSI, as 'fit and proper' under their fit and proper test - just some 6-months or so into their Fratton reign clearly they are not!

Those hoping that we had seen the last of Admin Andy might need to get used to seeing his face, and hearing his ramblings, again for a while...

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Writer:pompeyrug
Date:Tuesday November 29 2011
Time: 7:53PM

Comments

0
'maybe' a pts deduction isnt a formality? here.
pompeyrug
29/11/2011 20:11:00
0
There's a way round this. If chanrai reverses the sale due to legal technicalities, I . E it wasn't Antonovs money, and the sale is annulled then the ownership would revert to Chanrai and we would have 0 points deducted and we would have no embargo. I think you will soon hear Chanrai has logged something with company house last week to enable this to happen. Therefore, all those screaming on Facebook and twitter about Chanrai may want to hold fire as he may actually do the best thing for us, by saving us a further deduction of 10 points, plus what ever sanctions would be placed on us having not fulfilled the last CVA yet?
Midge
29/11/2011 20:34:00
0
I like Admin Andy.
Et_tu_Pompeii
29/11/2011 20:35:00
0
I have met him a few times he is OK. You can trust him but not the Football League!!
eastneydave
29/11/2011 21:05:00
0
Soton 'were inextricably linked as one economic entity' - and that's the difference with Pompey. CSI have their fingers in other pies as well.
PFCblue
29/11/2011 21:25:00
0
Nothing bad happened to us under Chainrai's ownership. (Nothing good either, mind). I'm not bothered if he comes back.
Gandor1
29/11/2011 23:28:00
0
It could be worse than having Chanrai back. Having Admin Andy back on the scene is certainly not anything I ever wanted to see again. I know none of the club's problems are his fault, but I have concerns that he is the man tasked to find the club's next owners. Didn't he find the last bunch of crooks?
tracyc
01/12/2011 19:48:00
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