Pay Up Pompey,Pompey Pay Up!

[pauld]

I'm thinking of taking them over myself, I've got a couple of hundred quid stashed away.

With that much, you'd have enough change to buy Notts County and still have a day out by the sea.

Or pay for the manager to have half an hour with one of his whores

[Nemo]

What's that now, the fourth takeover in one season? Surely if they keep going, they have to find someone with some money eventually

Chanrai has money, he just has no interest in football, the only reason he's taken over is to get his loan back.

[pauld]

Chanrai has money, he just has no interest in football, the only reason he's taken over is to get his loan back.

So, hoping for a quick turnround and a new takeover asap then?

Hertha, I've put my name down to be Portsmouth owner for April, do you want to sign up to force me out in May?

[herthab]

So, hoping for a quick turnround and a new takeover asap then?

Hertha, I've put my name down to be Portsmouth owner for April, do you want to sign up to force me out in May?

I'm on holiday in May. Can you get Fred to do it and I'll take over in June?

[pauld]

I'm on holiday in May. Can you get Fred to do it and I'll take over in June?

I think Peter Trembling and Sven are pencilled in for June, but I don't imagine they'll hang round long. Is July OK for you?

[BANGKOK RED]

Can I do it by proxy?

[Power to people]

What's that now, the fourth takeover in one season? Surely if they keep going, they have to find someone with some money eventually

Nearly as many owners as P'Boro have had managers this season and Franchise have had in it's existence

[bigbobjoylove]

http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7014791.ece

[suttonred]

Nothing story really, as he's got 4 bad backs and probably needs a massage.  With this buyout thing, am i reading it right, in the fact that it's the guy who leant another guy some money to buy it? So in effect they are as skint or skinter than they were yesterday?

[Nemo]

Nothing story really, as he's got 4 bad backs and probably needs a massage.  With this buyout thing, am i reading it right, in the fact that it's the guy who leant another guy some money to buy it? So in effect they are as skint or skinter than they were yesterday?

Yeah, basically the debt was secured against the club and Chinrai has called it in and reposessed the club- as I said earlier, he genuinely is a rich man, but doesn't want to own the club and is only interested in getting his money back- luckily for Pompey, he'll probably find it harder to do that if they're relegated so he might need to be medium-termist about it and get them a few decent free players to try and stay up.

[pauld]

The guy who writes the Grauniad's Digger column was on t'radio earlier and from what he said there may be more to this than meets the eye, certainly very odd at least. Remember the last but three owner Sacha Gaydamak (the guy who sold up in the summer)? There was always a suspicion that he was actually only acting for his Dad, Arcady Gaydamak who has interests in French and Israeli clubs, but who couldn't himself buy Portsmouth because he is that very rarest of creatures - one of the few people in the known universe who would actually fail the Fit and Proper Persons Test due to having a couple of fraud/financial shenannigans convictions stacked up in Israel.

So your man Chainrai used to be a business partner of Gaydamak Snr, but they fell out. Which ended up in Chainrai suing Gaydamak Snr for the money he was owed and winning about £17m last October. Which he then promptly invested in Portsmouth, not the most obvious thing to do with £17m you've just fought tooth and nail through the courts to get back from the father of the guy who used to own the club (and who may or may not have been acting as a proxy for his Dad) and who himself still owns a sizeable chunk of the club's property assets and is owed £20+m from when he sold up. Bearing in mind that Portsmouth was already a basketcase back in October, which clearly had no proper assets, a mountain of creditors and a shitload of debt

So it's that slightly odd investment which has given Chainrai control of the club, a club he apparently doesn't really want for itself, but just as a means of getting his money back. But why in hell did he put it in in the first place?

[Summerof69]

Pompey currently employ a lawyer convicted of fraud ...

http://www.guardian.co.uk/sport/david-conn-inside-sport-blog/2010/feb/03/portsmouth-mark-jacob-premier-league

[pauld]

Pompey currently employ a lawyer convicted of fraud ...

http://www.guardian.co.uk/sport/david-conn-inside-sport-blog/2010/feb/03/portsmouth-mark-jacob-premier-league

Page 4 of this thread. Do keep up.

They don't just employ him though - up until this new takeover, he was pretty much running the club in a "I'm not a shadow director, I'm just a trusted consultant/adviser to the family/general manager" kind of way, in flagrant breach of PL regs and the increasingly exposed as not fit to wipe your arse on FPPT. It was him that negotiated the transfers Storrie and Grant knew nothing about.

[Summerof69]

Page 4 of this thread. Do keep up.

Sorry !!!

[Nemo]

They don't just employ him though - up until this new takeover, he was pretty much running the club in a "I'm not a shadow director, I'm just a trusted consultant/adviser to the family/general manager" kind of way

What kind of tinpot club would allow a convicted criminal do something like that?

...Oh.