PR Overdrive at Pompey

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6 Responses

  1. Joe Vancouver says:

    The writer has expressed my views on this very sorry situation very well although I don’t profess to understand all the apparently fruadulent manoeuverings around the Gaydamak-Falcondrome- Portpin & imaginary Arabs period.
    Right now it seems to me that my beloved Pompey has been left as a twitching body with the life blood being drained from it. Erik has gone – Lawrence has gone (the day before a critical match that might have helped us to avoid relegation) – Henderson is going next.
    What is the point of continuing to bleed to death. If you owned a favourite family pet which had a teminal diagnosis and was in severe, ever increasing pain you would have it peacefully put to sleep.
    It would be criminal to allow Chainrai to drag this out in the hopes of reclaiming money he says helped PFC.
    If only Milan Mandaric would buy us for his daughter – if only! At least he has real money and his only sin when he owned us before was to get carried away with enthusiasm – his heart was in the right place.

  2. Matt Portsmouth says:

    I have lost the plot completely. Does anyone really know what’s going on anymore. Chinny will again buy the club for £1, pay 10p in pound to creditors making it look more attractive to a buyer. Still does not add up. If the debt is £100m then Chinny would still have to find £10m to pay creditors. DOES NOT ADD UP

  3. Gary says:

    It makes perfect sense Matt.

    The club owes Chanrai 17 Mill. This is secured on the ground – which is worth a fraction of that amount.

    If the club is liquidated, he will get the ground, which is worth very little.

    If however the club keeps going, Chanrai can use any PFC profits to pay interest / capital on the 17 Mill loan. Maybe in 20 years the loan could be repaid, though it doesn’t really matter as he doesn’t need the 17 Million, just a return – in the form of interest payments, on the investment.

  4. SJMaskell says:

    Thanks for the comment Gary, but the fact is Chainrai will not get the ground if the club is liquidated. The officer of the court, the liquidator, takes control of the ground and sells it to pay creditors from the proceeds. There are other secured and football creditors and employees to consider. However, as the ground will probably only realise about £2m under such circumstances you are probably right otherwise. Portsmouth City Council have declared there will be no planning permission given for anything other than a football club on the site.

  1. March 4, 2012

    […] villain as others (although have a look at my favourite Pompey writer SJ Maskell’s excellent article to see why you might) If, and its a big if, Chainrai’s involvement can save the club from […]

  2. May 20, 2012

    […] business methods have constantly held Pompey over a barrel has been well documented on this site already. Yet many people still ask the question why some supporters ‘hate’ Chainrai so […]

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