Pompey 58m in debt!

[Willy Dangle]

This was the dream

 

[beorhthelm]

Assets can be everything apart from land and fabric of building. It can be players, turf, seats, light bulbs, copper pipes etc etc.

Assets stripped there could be a lot of dough.

you'll have to point me to their £37.9m worth of players because i cant see there being much resale value in the fixtures and fitting round that shit hole. the ground is the only real asset a club have and if i were an administrator or owner owned loads i'd sperate the ground from the club before selling on... oh. image rights and future revenue are about the only thing they have, which they need to run. so how did they get away with booking a sale of £38m, to be paid back in the future? meanwhile, by being the majority creditor, you can always block any CVA, ensure its on your terms or whatever. if you are owed that money and now its half as much, that can be booked as a loss? i dont know, but theres a smell about it all. see them write off debts again and start over again.

 

[Mutts Nuts]

you'll have to point me to their £37.9m worth of players because i cant see there being much resale value in the fixtures and fitting round that shit hole. the ground is the only real asset a club have and if i were an administrator or owner owned loads i'd sperate the ground from the club before selling on... oh. image rights and future revenue are about the only thing they have, which they need to run. so how did they get away with booking a sale of £38m, to be paid back in the future? meanwhile, by being the majority creditor, you can always block any CVA, ensure its on your terms or whatever. if you are owed that money and now its half as much, that can be booked as a loss? i dont know, but theres a smell about it all. see them write off debts again and start over again.

There players and ground as there only assets should be sold to pay off all debts, the ground should have all restrictions removed and be sold with planning permision for a high rise tower block

 

[Smirko]

If they go out of business S'hampton may turn their rivalry onto us, nearest club, South coast rivals etc etc

 

[grummitts gloves]

This was the dream

Who ever designed that needs to lay of the drugs.

 

[Willy Dangle]

Who ever designed that needs to lay of the drugs.

Yep, and it only cost a fiver to go up the tower so you watch the game from there. Bad planning.

 

[BHAFC_Pandapops]

Write it off and go again...............

rinse and repeat eh..

 

[Hiney]

If they go out of business S'hampton may turn their rivalry onto us, nearest club, South coast rivals etc etc

Reading is closer to Southampton than Brighton

 

[wellquickwoody]

Reading is closer to Southampton than Brighton

So is Bournemouth.

 

[Alex Alex Dawson oo! oo!]

you'll have to point me to their £37.9m worth of players because i cant see there being much resale value in the fixtures and fitting round that shit hole. the ground is the only real asset a club have and if i were an administrator or owner owned loads i'd sperate the ground from the club before selling on... oh. image rights and future revenue are about the only thing they have, which they need to run. so how did they get away with booking a sale of £38m, to be paid back in the future? meanwhile, by being the majority creditor, you can always block any CVA, ensure its on your terms or whatever. if you are owed that money and now its half as much, that can be booked as a loss? i dont know, but theres a smell about it all. see them write off debts again and start over again.

Perhaps the £37m "owed" to the previous administrators just might be the liabilities due over the next 5 years under the 2010 CVA; does anyone really think that Chainrai used any of his own his own money to buy the club as Leibherr did when he bought the Scummers?
The club don't own Fratton Park; it was sold to Chainrai prior to him selling Pompey to Antonov.

 

[cloud]

Even if they sold the pitch to build luxury riverside flats on, they would surely never get £58m for it.

Are they including deferred tax as an asset? Surely not.

 

[cloud]

Maybe some DIY entrepreneur could buy it for £58

 

[Hiney]

This was the dream

That was NEVER EVER going to be a viable option. They were just paying lipservice to those who were demanding some movement on a new ground.

Much like the flamboyant plans published in our programmes in the early 1990s

 

[edna krabappel]

Even if they sold the pitch to build luxury riverside flats on, they would surely never get £58m for it.

Are they including deferred tax as an asset? Surely not.

Is Fratton really the sort of area that one builds luxury flats on though? I'm not convinced. It's a crap area.

Unless they can pull off yet another dodgy deal, I can't see who will possibly pay to take over £58m worth of debts, loaded on to a 3rd division team (we hope). Even the players who are deemed to be assets won't fetch big prices because of relegation and the fact that buying clubs know PFC are desperate. Well, that, and the fact that most of the players are pretty rubbish.

 

[cloud]

Unless they discover oil underneath, they're scuppered.

 

[JamesAndTheGiantHead]

Who ever designed that needs to lay of the drugs.

It does look a bit like a big bag of weed and a syringe.

If you squint and take a few drugs yourself.

 

[Tony Meolas Loan Spell]

Good. Liquidate. f*** off and start again like aldershot etc

 

[JamesAndTheGiantHead]

Rangers' proposed situation for the next two seasons makes me laugh. 10 point deduction at the start of each season? In a league which is fought out between two dominant teams, one of which will be Rangers (regardless of point deduction), who will play Celtic 3 times (which would almost negate the points lost if they win all of them), it seems like a complete get out of jail card to me.

They've f***ed up financially, massively, and the worst that could possibly happen would be that they finish 3rd.

 

[Horton's halftime iceberg]

Even if they sold the pitch to build luxury riverside flats on, they would surely never get £58m for it.

Are they including deferred tax as an asset? Surely not.

I'm not sure they own it. Doesn't one of the former dodgy owners have it as part of his assets.

 

[Postman Pat]

Even if they sold the pitch to build luxury riverside flats on, they would surely never get £58m for it.

Are they including deferred tax as an asset? Surely not.

Don't forget they are still owed parachute money which is an asset, and I assume they have put a valuation on being a championship club (will obviously be worth less next year as a 1st division club).

Saw a story on Sky the other day that Kanu is negotiating a pay-off to leave so he can join a club in Qatar, given the huge salary he has been drawing, and not playing, the only negotiation should be which box can I take to put my stuff in?