The Chips Are Down In Pompey Roulette

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6 Responses

  1. Joe - Vancouver Canada says:

    Another great article on a very complicated situation. I am so hoping that PFC can finally shake off that leech Chainrai tomorrow.
    Why doesn’t Birch challenge his artificial “security”? Let him prove that he even introduced £1,800 let alone £18,000,000.
    There has been talk that this would be a time consuming legal matter – well let’s consume some time – surely it is worth it for 18 million?

  2. Gaofpompey says:

    What a fantastic well written article. Lets hope that Pompey become a pioneer for fans/trust ownership in the future of football in this country, its time for the fans to reclaim the game that is now just about money to all except them.

  3. Dinksy says:

    While The News twiddles its thumbs, nervously skirting around anything controversial and insulting its readership with a daily diet of benign cow-fodder, SJ Maskell makes a marvellous job of clarifying a picture that some parties would like to see remain muddied and muddled. Thank you Sir, Madam, Miss or Ma’am.

  4. Joe - Vancouver Canada says:

    I just heard the result of the creditors’ meeting – Oh well – Birch found Roman Abramovich for Chelsea but he has found nobody new for Pompey.
    Is he any improvement on Andronikou? He seems to have achieved very little (and that is being kind!) so I think not.
    If Tal Ben Haim, Kanu and Mokoena won’t budge over their ridiculous pay demands let’s just go right ahead immediately and liquidate as soon as possible. We all need to be put out of misery quickly now.

  5. SJMaskell says:

    Joe – I think you may have read the misleading headline that says Chainrai has retaken the club. This is not the case.

    The meeting agreed the CVA as in Chainrai’s proposal but also voted unanimously to consider the Trust proposal that was on the table as well.

    There is now a 28 day grace period where the Trust will negotiate directly with Portpin over the price of Fratton Park as detailed above. The door is open for Birch to take the offer before the courts, if Chainrai refuses to take what’s offered, on the grounds that the Trust offer represents better value for the creditors. This will directly challenge Chainrai’s valuation of his ‘asset’.

    The door is wide open for the Trust to fight to own the club and run it in a proper sustainable manner. This is the best solution we can hope for.

    There never was an Abramovich option for Pompey. The club has been too much abused for any other owner to take it on.(Although the 28 day period allows other bids to come in.) Apparently this seemed to come as a surprise to Portpin today, so I am told.

    If the players take it to the wire and stick by their claims (and it may not be in their best interests so to do), who do you think is best placed to pick the club up again out of liquidation?

  6. Joe - Vancouver Canada says:

    I hope it is OK to use this medium to reply but thank you for the clarification of what happened at the meeting (difficult when you are 5,000 miles away!).
    I was not aware that the decision to remove Portpin’s “exclusivity” was so significant. I hope Trevor Birch pushes the possibility of the Trust paying a sensible figure for Fratton Park – does this mean that the inflated security held by Chainrai could be removed?
    In answer to your final point I would guess there would only be one choice – the Supporters’ Trust. I for one would wish them every success in starting again from the bottom but the best news would be that a lot of greedy people will not receive the money they are expecting (in most cases in return for little value or effort contributed).

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