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Apr 18, 2024 22:44
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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 We're going to be bought again
http://pompeypages.com/2011/04/14/new-owners-on-the-brink-are-they-fit-and-proper/
quote:s the news surrounded Pompey forums, websites and newspapers this morning that the proposed new owners to takeover at Portsmouth Football Club were one step closer to completing the deal, many will be worried about how genuine they actually are.
The proposed new owners, although not officially confirmed, are Roman Dubov, Vladimir Antonov and Chris Akers, the trio behind Convers Sports Initiatives who have submitted a bid to buy Pompey and will be required to complete a number of checks and tests in order to proceed with any takeovers.
Although many Pompey fans aren’t holding their breath about the new owners and yet another rumoured bid, the Football League has confirmed “We have had some information submitted relating to the ownership of Portsmouth, and we can confirm that the process to buy the club is ongoing.”
This now means the prospective new owners will now have to go through the joke of the FIT AND PROPER PERSON TEST.
We all remember the sham that saw Sulamain Al-Fahim and Ali-Al Miraj Faraj take over Portsmouth last season before selling it on to current owner Balram Chainrai after the world discovered they had no money and had some how passed the required test by playing with figures and taking loans.
After the mockery of this test was revealed, the FA have focused strongly on how to improve it and tighten the standards and requirements needed to take on a football club, because at the end of the day football is not a profitable business for many club owners.
According to Wikpedia (you never know how reliable it really is), in 2009 Vladimir Antonov, the main party of the trio involved with Convers Sports Initiaves, was accused to be involved with some sort of mafia, whilst an investigation found connections between the Antonov family and organized crime, as well as involvement in money laundering, but all allegations were withdrawn and no proof was ever found.
Is this a good sign that it was never proven and was just an allegation, or are Pompey taking on a bad influence or in order to save the club’s financial state and push Portsmouth Football Club to the heights where they should be.
You can check out the real Fit & Proper Person Test here. http://www.football-league.co.uk/regulations/20100801/appendix-4_2293633_2128219
If the move is completed, the takeover can reportedly be completed by the end of the month, and with the close of the season soon upon us, the use of new owners and injected funds in to the club will surely help with the development of the squad and the club.
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Apr 15, 2011 08:46
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Ya know David Haye could have made upwards of £5 by signing to Stoke in 2007
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Apr 20, 2011 19:26
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Lyric Proof Vest posted:
well goodbye plymouth argyle. Didn't pompey offer 10p in the pound?
yeah and that was considered generous at the time
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Apr 22, 2011 14:02
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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wooo yayyy wooo yayyy
http://news.bbc.co.uk/sport1/hi/football/13614706.stm
quote:Convers Sports Initiatives, controlled by London-based Russian businessman Vladimir Antonov, have completed their takeover of Portsmouth.
They purchased the Championship club from Sports Holdings (Asia) Ltd after "several months of negotiations".
Portsmouth chief executive David Lampitt said: "I am pleased to welcome the club's new owners and very much look forward to working with them.
"In CSI, I believe we have found owners who will take the long-term view."
CSI owners Antonov, Roman Dubov and former Leeds United chief executive Chris Akers have passed the Football League's fit and proper persons' test. (wooo)
They already own a growing list of sports teams, franchises and rights, with current interests including the World Rally Championship, PowerPlay Golf, Spartak Moscow ice hockey team, Ferrari Team Russia and the Isle of Man TT motorcycle race.
" We have taken this club during the worst times and brought it to safe grounds from near extinction"
Balram Chainrai, Levi Kushnir and Deepak Chainrai Outgoing Portsmouth owners
Antonov, 36, said: "We have conducted extensive due diligence and held detailed negotiations with a number of clubs in the English Premier League, Championship, League One and Scottish Premier League over the past 12 months.
"We ultimately selected Portsmouth because of its history, loyal fan base and its potential to return to the Premier League. (pahahah)
"The supporters are amongst the most passionate in the game and that gives the business a strong foundation to build on.
"We look forward to working with all those connected with Portsmouth including the management, players, employees and sponsors, as well as developing close ties with the city of Portsmouth and the community."
CSI were behind a failed bid for Bournemouth last summer, but have been successful on this occasion in securing the sale of Portsmouth from Hong Kong businessman Balram Chainrai, director of Sports Holdings (Asia) Ltd. (A definite real company)
Chainrai first took over at Fratton Park in February 2010, placing Portsmouth in administration after initially investing £17m in the club, and "reluctantly" assuming control when previous owner Ali Al Faraj defaulted on loan payments due to him.
"I'm very pleased that it is now complete and we can start to put plans in place for the future."
David Lampitt
Portsmouth, debt ridden at the time, were the first Premier League club to enter administration and were consequently deducted nine points on their way to relegation from the top flight.
Following the club's exit from administration in October 2010, Chainrai retook the reigns, and has since run the club along with fellow Sports Holdings' directors Levi Kushnir and Deepak Chainrai.
They preserved their Championship status this season with a 16th-placed finish under the guidance of manager Steve Cotterill, but soon after taking over, Chainrai admitted that he was "not the right man for the club long-term".
Chief executive Lampitt continued: "It has been a complex process, which has been conducted very professionally throughout. I'm very pleased that it is now complete and we can start to put plans in place for the future.
"We are pleased to be looking ahead but may I also take this opportunity to thank Balu Chainrai, Levi Kushnir and Deepak Chainrai for their contribution in seeing the club through a very difficult period in its recent history."
An outgoing statement from the former owners on the Portsmouth website said: "We are delighted to hand over Portsmouth to CSI. We believe that CSI will lead Portsmouth into a bright future.
"As we committed to do, we have taken this club during the worst times and brought it to safe grounds from near extinction. The club was going through a very difficult period and now is being handed over to a strong, able and willing group.
"We would like to thank Steve Cotterill, the manager, and his team, David Lampitt, the chief executive, and his management team and all the club's staff for the hard work and sleepless nights in bringing the club to where it is now."
A statement from CSI added: "We would also like to thank Mr Chainrai and his executive management team for their stewardship of Portsmouth Football Club through one of the most difficult times in its history, pre and post-administration last year."
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Jun 1, 2011 18:25
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Remember when Portsmouth almost went out of business those were the days
so what's all this about wage structure?
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Nov 23, 2011 13:02
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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I knit my own shirts from wheat but that's just because Pompey can't afford even child labour at this point
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Nov 23, 2011 13:14
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Jose posted:
What'll happen to Fratton Park if they're wound up?
Fratton park itself is owned by Portpin Ltd.
The land around Fratton Park is owned by Gaydamak under license from Barclay's and has been marked for being turned into a superstore for donkeys years
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Jan 30, 2012 22:33
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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PaoFerro posted:
Not sure where to post this. Can we talk about Premier League online streams anywhere in TRP?
odd choice of thread but yes, often the match day thread has links in the OP too
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Feb 10, 2012 10:42
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Jose posted:
Portsmouth have any kids Newcastle can swoop in and steal?
ahahah AHAH yeah our academy is awash with young talent
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Feb 13, 2012 21:38
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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cuts coming probably to people who don't deserve it
quote:Trevor Birch, Partner at PKF Accountants & business advisers and joint administrator of Portsmouth Football Club, today made the following statement:
“We have had no choice but to take the difficult decision to make a number of redundancies across all levels and departments within Portsmouth Football Club.
“Additionally, we are asking certain employees to defer wages on an ongoing basis and are asking several members of staff to move from a full-time to a part-time role.
“These measures are painful for everyone involved with the club, but they are essential for Portsmouth’s survival, which is our main objective.
“They are in no way a reflection of the performance of the club’s hard-working staff, who have remained loyal and supportive throughout this difficult time.
“Our initial analysis of the club’s financial position has revealed that the situation is more serious than many people had expected.
“We have been brought in to try to rescue a business with significant financial problems. To put it bluntly, Portsmouth Football Club has a Premier League cost base but only Championship income. This is not a sustainable situation and one that needs to be addressed urgently if the club is to continue to exist.
“As things stand, there is a serious risk that the club could run out of cash within the next couple of months. I recognise that this is not the news that anyone wants to hear but burying our heads in the sand will not help anyone.
“Today’s redundancies will make a difference to the club’s financial position but there are sure to be further challenges ahead of us.
“Portsmouth’s survival depends on us being able to find a buyer for the club before the money runs out.
“This is a great club with a proud history. We will continue to do all we can to secure a long-term future for Portsmouth Football Club. I hope that with the support of the staff, players, supporters and the wider community we can achieve this aim.
“Portsmouth needs the support of as many people as possible (blah blah same old poo poo) over the next few weeks and months. There are six home games coming up in the next five weeks so let’s make every single one a sell out – starting with Leeds on Saturday.
“With this in mind, we have already started speaking to the supporters’ groups and are meeting with fans tonight.”
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Feb 22, 2012 18:49
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Breath Ray posted:
Is there anything to stop me pledging a cool million then not delivering it
you'll get this account banned as well
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May 5, 2012 14:42
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Portsmouth's goalkeeping coach and head of recruitment have left ok back to talking about man united's asian investment
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Jan 18, 2013 16:53
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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You would think the Ricoh arean people would do what they could to keep Coventry there. What else are they going to do with a football stadium in Coventry?
Block all moves to sell the land in an attempt to get a fat payout from tesco?
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Mar 24, 2013 13:45
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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quote:Trevor Birch, BDO partner and joint administrator of Portsmouth Football Club, has released the following statement:
“I am pleased to announce that we have reached an agreement with Portpin and the Pompey Supporters’ Trust (PST) which paves the way for the PST to complete its purchase of Portsmouth Football Club.
“We were appointed to secure the best deal for creditors and today’s developments enable us to fulfil that obligation.
“It is gratifying that both the PST and Portpin have worked hard to reach an agreement that safeguards the club’s future without the need for a court decision. This is the best possible solution for everyone involved.
“We will now work with the PST, Portpin and the Football League to conclude the deal as quickly as possible in order to enable the new owners to begin the urgent task of rebuilding the club.
“The past year has been incredibly challenging for everybody involved with the club – fans, staff and players – and I want to thank them for their support.
“They deserve credit for keeping Portsmouth Football Club alive despite what, at times, seemed like insurmountable obstacles and I’m sure their actions will inspire supporters’ groups at other clubs in the future.”
quote:Ashley Brown, chairman of the Pompey Supporters’ Trust, has released the following statement.
“This is an historic day for Portsmouth Football Club and for Pompey fans everywhere.
“At last, the tough work done over the last year is over and we can start to rebuild our club.
“Pompey fans are now days away from owning and running our club and becoming the biggest community-owned football club in the country.
“We have a lot of people to thank – and much more to say – but will do that once the detail of today’s (April 10) settlement are finalised.
“For now, we would like to offer heartfelt thanks to Pompey fans all over the world who have pledged money and have saved our club from liquidation.
“Now the next chapter of hard work begins to transform our club into something the community of Portsmouth can be proud of – both on and off the field. Play up Pompey.”
We shall wait and see
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Apr 10, 2013 17:20
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Lol if you don't own your club and would actually pay the prices to go and see a "big team" just lol
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Aug 24, 2013 09:42
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Reminder that Arsenal still sell out every week, at the most expensive ticket prices in English football if not the most expensive ticket prices in club football anywhere in the world, while still providing clowncar performances on the pitch on a regular basis.
The fans that fork over ridiculous amounts of money to watch this club, show their displeasure via singing crude and amusing songs at Wenger such as "you don't know what you're doing" and the particularly witty "spend some loving money". While continuing to spend laughable amounts of money to watch them play.
So long as fans are willing to do this, the money involved will continue to rise, since apparently we've not been bled dry yet.
Yeah they should all travel up from London and support a real team like the Manchester Reds imo
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Aug 24, 2013 11:57
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Sounds those clowns at arsenal have done it again, what a bunch of clowns
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Aug 24, 2013 11:59
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Mods, now that Pompey seems to have its financial house in order I request that this thread's name be changed to The Something Awful Forums > Discussion > Sports Argument Stadium* > The Ray Parlour > Football Finances, or Rangers are eternally fecked
Please do this
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Jan 17, 2014 19:13
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Where would that money go?
Probably spent on other improvements or saved for later. I'm no accountant but that would seem to be an option.
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Jan 28, 2014 19:58
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- Adbot
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ADBOT LOVES YOU
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Apr 18, 2024 22:44
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- TimberJoe
- Oct 24, 2010
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aww yeah im on this burger and shit
Winner of the PWM POTM for March 2012
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Possibly used for not lurching from financial injection to financial injection? I'm not sure about this sort of stuff though
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Jan 28, 2014 20:02
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Feb 11, 2011 16:00
