Portsmouth AGAIN

[Prufrock]

Assuming they still own them, training ground and stadium will be worth a lot as assets, even if just as real estate.

[Verbal]

I can't see how Portsmouth are staying out of administration as they continually pay their players late. There must be some very strange definitions in the Uk these days, I always thought that if you could not pay wages you were by definition bancrupt and hence had to go into administration.?

Anyone know the legal ruling on this??

I wouldn't fight you in court on this, but my understanding is that if their assets are still worth more than their debts then they're still solvent, cashflow problems aside. Then you get into the whole area of player values being subjective. Then again, never mistake the economics of the madhouse on which football operates with the laws of the land to which the rest of us have to adhere.

I think as long as your assets cover your liabilities your still technically solvent. It's weird how clubs operate like they do tho.

[Verbal]

annnd they haven't paid them today either.

Bye bye.

[Tombwfc]

Interesting post bobo, cheers.

The thing which stuns me is that they bought Glen Johnson from Chelsea on an HP basis, sold him for an enormous profit & they were allowed to do so without clearing what they owed Chelsea. Amazing.

That they were allowed to do this has bothered me for some time, and I've still no idea why the Premier League can't do something about it.

That said, IIRC most of the money for Johnson was actually just Liverpool writing off what Pompey still hadn't paid them for Peter Crouch, I'm not sure that changes anything though, I still think they made enough to pay Chelsea back.

Farcical situation. It is tantamount to cheating and so screw them.

[FaninOz]

Interesting post bobo, cheers.

The thing which stuns me is that they bought Glen Johnson from Chelsea on an HP basis, sold him for an enormous profit & they were allowed to do so without clearing what they owed Chelsea. Amazing.

That they were allowed to do this has bothered me for some time, and I've still no idea why the Premier League can't do something about it.

That said, IIRC most of the money for Johnson was actually just Liverpool writing off what Pompey still hadn't paid them for Peter Crouch, I'm not sure that changes anything though, I still think they made enough to pay Chelsea back.

Farcical situation. It is tantamount to cheating and so screw them.

But West Ham got away with that didn't they.

Also in today's Daily Star http://www.dailystar.co.uk/football/vie ... -for-sale/

[Bruce Rioja]

This was on Danny Baker's most excellent Saturday morning radio show earlier.

It's Portsmouth player's names put to scat jazz.

http://www.youtube.com/watch?v=W8346DNPpbE

[jimbo]

This was on Danny Baker's most excellent Saturday morning radio show earlier.

It's Portsmouth player's names put to scat jazz.

http://www.youtube.com/watch?v=W8346DNPpbE

Yeh I heard that. I preferred the full 6 minute long version of Bohemian Rhapsody from the Baker and Kelly podcast I mentioned on the same thread!

http://www.youtube.com/watch?v=ZGHrjBan3vA

[Lord Kangana]

Assuming they still own them, training ground and stadium will be worth a lot as assets, even if just as real estate.

Gaydamak has held on to the rights to all the land around the stadium to guarantee the £25m he's still owed. It all sounds like the land grab that spectacularly backfired on Fayed down at Fulham.

[Bruce Rioja]

Assuming they still own them, training ground and stadium will be worth a lot as assets, even if just as real estate.

Gaydamak has held on to the rights to all the land around the stadium to guarantee the £25m he's still owed. It all sounds like the land grab that spectacularly backfired on Fayed down at Fulham.

I understand what you're saying there, LK, but Craven Cottage is situated in a wonderfully affluent area of west London, and is on the banks of the Thames (this you already know, I know) whereas Fratton Park is situated within the arsehole of the south coast and is surrounded on three sides by terraced houses and industrial units. Good luck to him if he thinks it's worth that sort of brass.

[Lord Kangana]

I hear what you're saying Bruce, and whilst not wishing to pre-prejudice the good people of Pompey (as I've never been) its probably a sh*thole, neverthelss this is what Gaydamak has done. So at the moment, efectively, until they pay Gaydamak off, they're screwed. With,apparently, the first tranche owed in the next couple of months.

[bobo the clown]

Assuming they still own them, training ground and stadium will be worth a lot as assets, even if just as real estate.

Gaydamak has held on to the rights to all the land around the stadium to guarantee the £25m he's still owed. It all sounds like the land grab that spectacularly backfired on Fayed down at Fulham.

I understand what you're saying there, LK, but Craven Cottage is situated in a wonderfully affluent area of west London, and is on the banks of the Thames (this you already know, I know) whereas Fratton Park is situated within the arsehole of the south coast and is surrounded on three sides by terraced houses and industrial units. Good luck to him if he thinks it's worth that sort of brass.

It is in a shit-hole, but it's a sizable dock accessible shit-hole in Hampshire so it'll be worth in that order.

I'd quite forgotten that Al Fayad's plan was to sell the ground & build another a little further away. Don't think he'd have easily got planning permission, but if he did then that land, albeit small, would be worth a fortune.

[Bruce Rioja]

It is in a shit-hole, but it's a sizable dock accessible shit-hole in Hampshire so it'll be worth in that order.

I'd quite forgotten that Al Fayad's plan was to sell the ground & build another a little further away. Don't think he'd have easily got planning permission, but if he did then that land, albeit small, would be worth a fortune.

Aye, it's a fair point. I seem to recall that the Egyptian Shopkeeper's troubles were more to do with getting permission to build a new ground rather than flogging the land on which CC stands, which, as you say must be worth a bloody fortune.

I'd also imagine that they'd have to incorporate this into the design, too.

[2399]

Pay up Pompy;
Pompy Pay up

I like the Stadium; even though there is not enough room for corpoate boxes and stuff.

[Worthy4England]

This is all a bit semantic.

Both fulham and pompey are down South, so it's all shithole.

[bobo the clown]

I'd also imagine that they'd have to incorporate this into the design, too.

Aye ... you'd find pro-forma for that instruction in the file marked "Wembley: Twin Towers" I imagine.

[Lord Kangana]

Assuming they still own them, training ground and stadium will be worth a lot as assets, even if just as real estate.

Gaydamak has held on to the rights to all the land around the stadium to guarantee the £25m he's still owed. It all sounds like the land grab that spectacularly backfired on Fayed down at Fulham.

I understand what you're saying there, LK, but Craven Cottage is situated in a wonderfully affluent area of west London, and is on the banks of the Thames (this you already know, I know) whereas Fratton Park is situated within the arsehole of the south coast and is surrounded on three sides by terraced houses and industrial units. Good luck to him if he thinks it's worth that sort of brass.

It is in a shit-hole, but it's a sizable dock accessible shit-hole in Hampshire so it'll be worth in that order.

I'd quite forgotten that Al Fayad's plan was to sell the ground & build another a little further away. Don't think he'd have easily got planning permission, but if he did then that land, albeit small, would be worth a fortune.

My understanding Bobo, is that he did have planning permission. I used to work just across the river at the time, and according to people who you would trust to be ITk (ie people in the construction industry, in this company and with ties to FFC) said it was going to happen just prior to them moving to Loftus Road. What I don't know is why it didn't happen. But this seems to have a few eerie parallels from what I have been reading.

[bobo the clown]

My understanding Bobo, is that he did have planning permission. I used to work just across the river at the time, and according to people who you would trust to be ITk (ie people in the construction industry, in this company and with ties to FFC) said it was going to happen just prior to them moving to Loftus Road. What I don't know is why it didn't happen. But this seems to have a few eerie parallels from what I have been reading.

Wow. He must have greased some palms for that.

I'd love to find out why it didn't happen.

I'm aware that Al Fayed cannot get himself UK Citizenship, no matter how hard he tries .... & he's tried, many times. There are some weird things go on in Harrod's Towers, by all accounts.

[Lord Kangana]

At a guess I'd put my money on Bruce's idea over a listed part of the Cottage. It mayhave been a deal breaker. Other than that I don't know.

[CAPSLOCK]

Now Mandaric charged!

[bobo the clown]

Now Mandaric charged!

I really would like to think that the guy currently working at making a club in North London go bust is getting well & truly worried right now.