Jump to content
Join Talk Chelsea and log in to join the CFC discussion! ×

Portsmouth FC

DavidEU

By DavidEU,
in Football Banter

 Share

Recommended Posts

DavidEU

DavidEU 2,023

Posted
Posted
Portsmouth Football Club is extremely disappointed to report that it has not yet managed to achieve the exit from Administration, despite the extensive efforts of the Football League, NewCo, the Administrators and their various legal advisors.

The process has been extremely complicated and there has been a team of people working night and day to get the deal done. The most difficult aspect has been trying to achieve agreement with Alexandre Gaydamak after the remaining parties have agreed the deal and executed the necessary documents, namely the new owners, the Administrators, the Football League and the creditors.

Unfortunately, despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Mr Gaydamak and this has now made the deal impossible to complete.

Put simply, despite being offered full payment for the secured part of his debt in accordance with the financial plan approved by the Football League, this morning Mr Gaydamak has demanded a very significant upfront cash payment in order to allow the deal to proceed by releasing his security.

All this is in spite of his lawyers going to Paris this morning specifically for the purpose of witnessing his signature to the document agreed yesterday.

It is neither in the interests of the club nor its unsecured creditors for such a ransom payment to be made, particularly where the payment is being demanded by one of the authors of the club’s current circumstances.

In addition, and equally importantly, all of the business plans submitted and approved by the Football League would be fundamentally damaged by such a requirement placed on the club by Mr Gaydamak.

We will provide further information as soon as possible.

However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club.

We would like to thank the Football League in particular for their support and assistance through this difficult process.

All other parties had managed to reach agreement.

This has now been undermined by the self-interested actions of one individual. Mr Gaydamak has provided confirmation several times that terms were agreed. However, he has continually changed his position in an attempt to exploit the goodwill of the other parties to the transaction.

By now doing this he has shown complete disregard for the supporters, the club and the City of Portsmouth.

His earlier comments when the club went into Administration about doing everything possible to save the club’s future do not appear to reflect his current actions.

Source: Official Portsmouth FC Website.

Someone just save them. Its probably pocket money to Roman to solve it. Such a shame.

Link to comment
Share on other sites
  • Replies 20
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

DavidEU

DavidEU 2,023

Posted
  • Author
Posted

To be fair, a lot of this is Portsmouth's fault and they only have themselves to blame. But like has been said, its always a shame to see a club go, especially one as unique as Portsmouth.

Why they ever spent all the money they did a few years ago is beyond me and everyone though.

Link to comment
Share on other sites
zolayes

zolayes 14,489

Posted
Posted

This is so unfair to the fans who've spent their lives supporting this club. Just shows you how careful one has to be while deciding the club's ownership.

the fans have no say in the buying and selling oh their club ..thats the problem ...

Link to comment
Share on other sites
Laylabelle

Laylabelle 9,395

Posted
Posted

Looks safe for the moment....

Nearly happened to Chels in the 70s,gana build flats where the Bridge is then Ken Bates came.Like my mum was saying yesterday if had happened god knows who she'd be supporting now if anyone.Be hard to just change your team espically after following them for so many years

Link to comment
Share on other sites
True_Blue

True_Blue 469

Posted
Posted

I have no connection with Portsmouth but i can see how much their club means to them and with how much passion they follow it,i think they would be crushed i know i would be! Since your club cant be replaced with just another.

Link to comment
Share on other sites
kwylino

kwylino 329

Posted
Posted

Im sure the fans would do what chesters fans did and make something like

Fc pompey

Portsmouth 2010 cf

Or something like that

Shame for the fans They will have to have a 2nd club or something now

Link to comment
Share on other sites
kwylino

kwylino 329

Posted
Posted

And its sad sky sports cares more About money hogging rooney

I would be saddened if portsmouth went down All that history just going down the drain thanks to that gaydamak person I wouldnt be suprised if someone petrol bombed his house if i were pompey i certainly would

Link to comment
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
 Share
Go to topic listing

  • 0 members are here!

    • No registered users viewing this page.
×
×
  • Create New...

talk chelse forums

We get it, advertisements are annoying!
Talk Chelsea relies on revenue to pay for hosting and upgrades. While we try to keep adverts as unobtrusive as possible, we need to run ad's to make sure we can stay online because over the years costs have become very high.

Could you please allow adverts on this website and help us by switching your ad blocker off.

KTBFFH
Thank You

Sure, let me in!
Enter