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 Post subject: Portsmouth
PostPosted: Fri Feb 19, 2010 12:35 pm 
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must've run out of pins surely?

Portsmouth pin survival hopes on fifth owner of the season• Hong Kong company will pay off debts within a year
• Club seek permission to sell players outside transfer window
Buzz up!
Digg it
Jamie Jackson
The Guardian, Friday 19 February 2010
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Portsmouth still face the prospect of being wound up. Photograph: Daniel Hambury/Empics Sport


Portsmouth could have a fifth owner this season after the Guardian learned that Endeavor Plan, a Hong Kong-based investment company, has viewed documents relating to the club's financial position and has informed Pompey's chief executive, Peter Storrie, of its interest in buying out the current owner, Balram Chainrai. It has suggested that 30 days' due diligence may be required before being able to complete.

Endeavor Plan, said to have interestsin New Zealand, Hong Kong and the United States, received the documentation from Storrie, who has been conducting negotiations to seek a new buyer or fresh investment alone. He spoke to Endeavor's owner, the New Zealand businessman Victor Cattermole, earlier this week and Cattermole confirmed his interest in writing.

It is understood that Endeavor has said that, should any buy-out be successful, the company is confident of clearing all debts to Portsmouth's creditors within a year. It is also thought that Endeavor's interest in buying was included in the statement of affairs lodged with the high court on Wednesday, before Her Majesty's Revenue and Custom's winding-up petition, which will be heard on 1 March. The hearing is for £12.1m in VAT, PAYE and National Insurance, though the club are disputing a sum of £7.1m in VAT.

Portsmouth had been given a seven-day adjournment to compile the statement of affairs, which was drawn up by the accountants Vantis. The club hope Endeavor's inclusion in the document will help convince the court that they are solvent and can continue as a going concern, rather than having to enter administration or being wound up.

The club's chances of avoiding these two eventualities could further be strengthened if they can advance negotiations with Cattermole before the 1 March hearing and provide material evidence of this for the court. There is said to be a second potential buyer, whose interest may also have been included in the SOA.

Cattermole's claim that Portsmouth could be free of their financial problems within a year may depend on him being able to reach agreements with the club's creditors. Sacha Gaydamak, the former owner who sold to Sulaiman al-Fahim last August, is owed around £30.5m, while Chainrai is due at least £17m.

In a separate development yesterday Portsmouth's desperation to avoid administration was further illustrated when they asked the Premier League to consider allowing them to sell players as soon as possible, outside the normal biannual transfer windows. A club spokesman said: "I can confirm we have put in a request to the Premier League to sell players outside the transfer window. It is something we are exploring."

While the governing body is considering the request, it will first have to ask the Football Association and Fifa for permission to allow it. It is thought Fifa may not be minded to grant permission due to the number of clubs around the world that also have financial problems. The world governing body would be concerned that it may set a precedent .

Fahim, meanwhile, has been advised by his legal team to resign as a director and Portsmouth's non-executive *chairman to avoid any potential case against him, should the club have legal difficulties.

A source close to the businessman also told the Guardian that the 32-year-old has began an action against a journalist for the National, a United Arab Emirates newspaper which two days ago published the claim that an arrest warrant had been issued for Fahim regarding a £1.4m debt.

The source claimed: "Sulaiman's lawyers are asking him to resign as a director and chairman due to the lack of financial information he has received. They also feel the club is being run while insolvent.

"They want him to resign to avoid any potential legal case against him as a director, especially as Sulaiman has not attended one board meeting since he sold 90% of his shares to Ali al-Faraj [in October]."

With regard to the legal proceedings against the journalist the source added: "Sulaiman has today begun the action."

Portsmouth declined to comment on Cattermole's interest or Fahim's potential resignation. There is, though, a view on the south coast that as owner for 43 days Fahim may bear some responsibility for the club's current situation.

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PostPosted: Fri Feb 19, 2010 12:36 pm 
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Portsmouth should try selling their arse on craigslist.

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PostPosted: Fri Feb 19, 2010 12:47 pm 
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would anyone want to touch it with a 30 foot bargepole though?

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 Post subject:
PostPosted: Sat Feb 20, 2010 9:25 am 
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Old 'arry might go back for a further bum-raping

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hi burnage,

i hope you are keeping well and ok. forgive my curiousity but have you come here to say poo? i'll be waiting for your response

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PostPosted: Fri Feb 26, 2010 1:02 pm 
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So Pompey are officially in administration and face a nine point deduction. What I don't understand is that they're asking the Premier League for an advance on their parachite payment. Does this mean, if they pu together an unbelievable string of results, they will tell the players to lose games to ensure relegation? Bizarre

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hi burnage,

i hope you are keeping well and ok. forgive my curiousity but have you come here to say poo? i'll be waiting for your response

cheers,

shim


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PostPosted: Fri Feb 26, 2010 1:04 pm 
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i think they are proper fucked and certani relegation candidates now. 9 points deduction, their position, their playing staff, the lot = fucking doomed.

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PostPosted: Fri Feb 26, 2010 1:06 pm 
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administration is purely the allocation of breathing space, nothing more. The club will still face a winding up order in the summer if they cannot find a buyer

all this does is to allow them to finish the season

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PostPosted: Fri Feb 26, 2010 2:39 pm 
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and mean that clubs who took points off them keep them.

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 Post subject:
PostPosted: Fri Feb 26, 2010 3:26 pm 
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This was inevitable.

Portsmouth will get relegated.

Most of their players will leave.

It'll look like they're gonna go bust, then about five bidders will all come in on deadline day, all looking to pay about one pence in the pound of the debts.

All the debts will be cleared.

They may end up in League One.

They'll survive.


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 Post subject:
PostPosted: Fri Feb 26, 2010 4:40 pm 
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Good.....just proves everything Harry Rednapp touches turns to shite...

Bournemouth - Administration
Portsmouth - Administration
Heres hoping spuds are next.....

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 Post subject:
PostPosted: Fri Feb 26, 2010 4:43 pm 
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pleasepleasepleasefuckingpleasegod/satan/hisnoodleyappendage-nesspleaseplease

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 Post subject:
PostPosted: Fri Feb 26, 2010 5:12 pm 
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blueinyorkshire wrote:
Good.....just proves everything Harry Rednapp touches turns to shite...

Bournemouth - Administration
Portsmouth - Administration
Heres hoping spuds are next.....


west ham - gnats whisker

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 Post subject:
PostPosted: Fri Feb 26, 2010 5:20 pm 
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southampton - league one


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PostPosted: Thu Mar 25, 2010 4:02 pm 
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Florent Malouda and Daniel Sturridge escape FA punishment• Two Portsmouth players suffered facial injuries against Chelsea
• FA confirms incidents were dealt with at the time by referee
Tweet this (14)Alan Gardner
guardian.co.uk, Thursday 25 March 2010 14.21 GMT
Article history

Florent Malouda receives a yellow card after the incident that left Ricardo Rocha with a suspected fractured cheekbone. Photograph: Tony O'Brien/Action Images

Florent Malouda and Daniel Sturridge will not face any further action after incidents that left two Portsmouth players nursing serious facial injuries in Chelsea's 5-0 win at Fratton Park last night.

The Portsmouth centre-back Ricardo Rocha sustained a suspected cheekbone fracture in an aerial collision with Malouda, in which the Frenchman led with his arm. Malouda was booked by the referee, Lee Mason, for the challenge.

Rocha's team-mate Tommy Smith then suffered a broken nose after being caught by Sturridge's elbow, with the Portsmouth forward undergoing surgery on the injury today.

The FA has confirmed both incidents were deemed not to be "off-the-ball" and that, as the referee dealt with them at the time, they will not be opening disciplinary proceedings against either player.

The outcome is in line with the FA's decision not to punish Steven Gerrard retrospectively for an apparent elbow, again involving a Portsmouth player, Michael Brown, during Liverpool's victory over the Premier League's bottom club on 15 March.


so apparently they can add injury to the other insults, fines and depridations inflicted on pompey, and without reprisal from the FA.

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PostPosted: Thu Mar 25, 2010 4:17 pm 
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The FA couldnot organise a whatnot in a beer making factory. If it had been the other way round there would have been trouble.

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 Post subject:
PostPosted: Thu Mar 25, 2010 4:18 pm 
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if it had been the other way round there would've been a lynching.

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PostPosted: Thu Apr 22, 2010 3:25 pm 
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http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8558580.stm

more good news for pompey

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PostPosted: Fri Oct 22, 2010 5:35 pm 
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Portsmouth statement: Administrators set to close down and liquidate club.

That's breaking news from SSN.

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