Greg Clarke: A Bit of A Dinlow Moment?

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4 Responses

  1. Camoron says:

    the fact is that Pompey’s first CVA was a fraud . Pompey need to be closed down and start again like Chester.

    Start at the bottom again – reborn – hopefully ran without the shysters and the no money men.

    The FL need to ban loans – only cash capitol allowed – invested as shares – which you LOSE if the company goes bad.

  2. Lesley says:

    I think that the 10’s of millions is not so far off.

    Lets assume the CVA is .1p in the £ and so is effectively free. The Football creditors at the moment are £5.9m and growing by £450k per month so even if a sale happens at great speed they are likely to be around £6.4m. Then add in whatever is going to be needed to prise Chainrai’s hands off Fratton Park as no one is going to be stupid enough to buy the club without FP – lets say he can be pursuaded to walk away for £2m so add in that. Then there is an additional £1.6m due to further football creditors on transfers that have not been paid for.

    Finally you can add in about £5m to run the club next year – and that is assuming some of the larger earners are moved on – so maybe sot quite 10s of millions but well over £10m even looking at the situation fairly optimisticly. Of course maybe the Parachute payments would be available but then maybe they won’t if Gaydamak keeps control of them under his agreement – and there are so many court cses needed to get things sorted that legal fees are likely to be stupidly high as well,

    I do agree that if he had wanted to scupper the Trusts efforts it is difficult to thnk what more he could have done and many fans will listen and give up or pin their hopes on the illusion of a white knight when the most likely nightmare scenario is a return of Chainrai to run the club as a shell so he can pocket the parachute payments – if he can get his hands on them. -

  3. Nathan says:

    Wimbledon have shown that whilst one set of fans can re-generate a club that was needlessly destroyed for a few individuals’ commercial gain, due to its competitive nature and the massive income dispararities between levels it is impossible for just one club’s fans to change our broken national sport.

    Only legislation will have any effect now.

  4. Nathan says:

    Shame HMRC didn’t finally get the high profile “victim” the sport sorely needs (as a deterrent if nothing else) back in 2010.

    http://www.bailii.org/ew/cases/EWHC/Ch/2010/2013.html

    “Furthermore, in the end, HMRC have been bound into a CVA which can only leave them financially better off than a liquidation…”

    Better off? Mr Justice Mann’s words sound hilarious now. Have Portsmouth paid ANY of the CVA he rubber-stamped or ANY tax since then?

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