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Another stand-off!

Another stand-off!

Anyone expecting that the remaining 1st team players moving on would mean that Pompey could 'swiftly' be taken over will be left disappointed as another 'stand-off' is in place - this time between the administrators and Portpin...

Portpin said that they could not takeover unless certain events transpired - this has happened in most instances but now, as he told sky sports, Balram Chainrai has said that administrators PKF have to 'agree a compromise' on their fees this will not happen.

Deferrals, like players etc. had to make, are being called for: 'although not all CVA terms were met, we are ready to move forward.

'All players and staff made a lot of efforts to compromise their situation and we accept agreements to move forward, subject to passing Football League requirements.

'Portpin request that the administrator, and their lawyers, reach a compromise with Portpin to reduce their fees of £1.85m, including legal fees of PKF lawyers, which we believe are extremely high.

'We request administrators to reduce their fees by £200,000 and a further £100,000 deferral to 2013 and another £100,000 deferral to 2014 - like all players who have deferred their compromises for four years.

'We are waiting for them to confirm this discount, so we can use all proceeds from the parachute payment to rebuild the club.'

Nothing like 'moving the goalposts' is there...

Although to be fair to Chainrai, and Portpin, in some ways you can understand what they are getting at, right?

So many people have been asked to defer payments, agree compromises and/or write off money so why should the administrators be exempt from having to do this. Surely they also have 'a duty' to compromise slightly on their fees as it would appear somewhat hypocritical if they would not now do this having demanded it from so many others...

On the other hand Portpin knew this (admin fees would be incurred) was the case and had not laid this down as a stipulation for their takeover had they?

It is all very well saying this money will be 'put into the club' but the worry is any agreement on deferrals would, I guess, be placed against the club as a debt, as much as possible (new stipulations 'should' prevent too much of this is the football league REALLY are paying attention this time!) so who ends up saddled with the administrators fees, Portpin or Portsmouth Football Club!

If PFC, as I would imagine is the answer, then the likelihood is that when Portpin move on, assuming they takeover, which they would do in a year or two maximum I reckon this tab isn't even going to be picked up by them is it - but hey I do not know how this all works and have become more than tired about talking about off the field money politics matters, even if this is of course important to our future...

One thing that Chainrai says Portpin want to do is 'rebuild' the club: 'monies will be used to rebuild this club from the bottom and, with the help of the manager and employees, I hope we get support from fans after saving this club, once again, from its grave.

'Portpin is ready to move forward subject to the administrator accepting to reduce their fees and legal fees.'

Quite clearly support of Portpin will not be there from a large number, I will not get into the 'rights or wrongs' of this again as I have had enough of it!

Actions, the right actions to give us a sustainable future, are what will be needed from Portpin and not words, that is the best way to try and regain 'trust' and 'support' from the fans...

I have had enough of the whole goddamn thing now and just wish we could get back to football! Although in all honesty I have little to no feelings or excitement at all about the upcoming season, not as I am 'worried' we will be spanked every week, just that PFC as I know and love it continues, on the face of it, to be a million miles away from what I remember Pompey as being...

What I want is a takeover to happen now so we can at least have a season, quite what this will be is open to debate and I would also think that any expecting Appy to be able to 'rebuild' his squad as he hopes will also be disappointed.

All we can hope is that he is at least given 'a chance' to bring in a few of the players he wants to at least give us a chance to be 'competitive' to be able to achieve league one survival this season...

PLAY UP POMPEY!

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Writer:pompeyrug
Date:Sunday August 12 2012
Time: 11:24AM

Comments

0
Team wise this reminds me of the mid seventies when Ian st john had to play kids who weren't ready, and players passed their best or freebies who just weren't good enough! result relegation to div 4. Did't think I would ever see that again, if chainrai lets MA sign the players he wants then at least we should finish mid table even with a 10 point deduction. that if chainrai takes over of course, which he will he can't afford not to. Not sure about the trust having to borrow 1.5 million which means they start off in debt does'nt feel me with any more confidence than chainrai doe's. I just hope there's someone sensible out there watching all this ready pounce once we are out of administration, I live in hope, thats all I have at the moment.
nobby1954
12/08/2012 12:37:00
0
There are a lot of similarities to the 70's you speak of, and it was an awful time...I do not trust BC, and have no reason to,the trust has no real chance either..
plymouth graham
12/08/2012 13:29:00
0
You lot should be clever about it. I had a bet on Plymouth to beat you @ 7/4!! I Know! Great odds considering the circumstances. If you all had jumped on that bet you could buy them out yourselves with the winnings!
Astonvillionaire
12/08/2012 16:19:00
0
Given the size of the bet I had, I pray Plymouth win or ill need the administrators in myself!
Astonvillionaire
12/08/2012 16:21:00
0
So Portpin won't pay the administrators fees; I understand that but that should have been made clear at the beginning. Oh, but that would have meant being honest, open and transparent which the likes of Chanrai and his ilk never are. 'Building the club'? What a load of toss, if he thinks he can play these constant games where us fans are put through the grinder day after day and month etc; and expect to retain our loyalty he's got another 'kin thought coming. God help us.
Et_tu_Pompeii
12/08/2012 19:08:00
0
The fees were high lighted by TBH, the Trust also complained about the fees ; really don't see any goal post moving. The Administrator always takes the proverbial hair cut on their fees; deferrals are also a normal process; normally they build this in. As for the 70's when they told me it was coming back into fashion I hadn't realised how much PFC would get into it. The Olympics hs been do much a distraction I haven't really missed Pompey at all. Be Interesting to see of kids can over turn a 10 point defecit though.
RussellM
13/08/2012 08:42:00
0
We keep saying "if Chan lets Appy sign the players he wants" but there is the small matter of the Football League sign off on transfers and I genuinely think they don't want Pompey in their league - at all. The only way I see they will be helpfull is if the transfer market is slowed and depressed ( much like m'self) of they will lose money by us failing in the season.
RussellM
13/08/2012 09:01:00
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