Creditors won't accept 2p in the pound
Portsmouth thread is going because they very much mirror what is and will be happening at Cov - admin/liquidation is becoming ever more likely for us and we can learn a lot from how their fans via the Pompey Trust are trying to rescue their club. They have had a string of foreign benefactors and look how its ended for them - do we really want one or would we be better being in control ourselves - see www.brsit.co.uk - can we make it happen here maybe?
Portsmouth thread is going because they very much mirror what is and will be happening at Cov - admin/liquidation is becoming ever more likely for us and we can learn a lot from how their fans via the Pompey Trust are trying to rescue their club. They have had a string of foreign benefactors and look how its ended for them - do we really want one or would we be better being in control ourselves - see www.brsit.co.uk - can we make it happen here maybe?
It started off about bleedin' Portsmouth. Who gives a f**k about them? Not me. I would rather see a thread headed "City - What on earth!" and carry on with what WE are doing in the future, not some scumbag cheating, lying shits of a team!
It started off about bleedin' Portsmouth. Who gives a f**k about them? Not me. I would rather see a thread headed "City - What on earth!" and carry on with what WE are doing in the future, not some scumbag cheating, lying shits of a team!
I'd take us starting a fresh down there any day of the week
Why? For a club that's never managed a top six place in 40 years why anyone would want a "fresh start" in the 5th tier of English football defeats me.
isnt the answer your question ?
with these guys in charge, its not impossible that we will be in the Blue Sq prem within 3 years anyway, but will still be owned by SISU.
If it was announced that SISU had gone, and we dropped to the Blue Sq Prem with new owners tomorrow, I would fly over and get a season ticket straight away
Who would buy us?
madness !!
Portpin set to take over with creditors to be shafted once again.
As expected, Balram Chainrai's CVA was proposed to creditors yesterday, offering just two pence to the pound of what they were owed.
The CVA is to give every creditor owed less than £2,500 their money back in full, whilst charities will also be paid in full as will part-time staff. With unsecured creditors owed around £40.2 million, the unsecured debt would effectively be reduced to £804,000.
The CVA proposal also states that creditors will receive £500,000 cash up front but will only be passed if agreements with certain players agree to compromise their future contractual entitlements.
That last sentence is a big issue, especially as there is no sign that Tal Ben-Haim is willing to walk away from Portsmouth without taking a huge payment.
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