Another blast from the past, "You're having a laugh mush" [video=youtube;cPZmk1x98Ko]http://www.youtube.com/watch?v=cPZmk1x98Ko[/video]
It's changed a fair bit since that picture was taken. All sorts of prefab rubbish down there now. KFC, McDonalds, Hotel Tat, the list goes on.
Portsmouth Football Club Statement Portsmouth Football Club can today provide the following information regarding recent events as a result of issues relating to Vladimir Antonov and Snoras Bank: The club's parent company, Convers Sports Initiatives plc (CSI), has been placed into administration. Vladimir Antonov has resigned as chairman and director of Portsmouth Football Club. Portsmouth Football Club (2010) Limited – the company that operates PFC – is not in administration and continues to trade.
Number 1 Jasper This is my understanding too. Southampton Leisure Holdings were only responsible for one business - Southampton Football Club. It was therefore deemed the case that the companies were one and the same. I believe that PFC are part of a suite held by CSI and therefore Portsmouth FC , as a viable company, should not be subject to a point deduction despite the fact that the holding compasny has gone into administration. As long as PFC are solvent and can pay their debts when the payments become due, I do not feel that this will be a problem in the short term. Assuming the administrators can find a new owner (probably a lot more difficult in 2012 than 2010 given the state of the economy and Goerge Osbourne hell-bent on destroying this country) then I think the football team will be safe. The problem for Appleton is to ensure that investment is found before the transfer window closes due to the fact that the current squad is woefully under-strength. All in all, not a good day for Pompey (particularly with this evening's results) but certainly nowhere as near as catastrophic as in 2010. My bet is that you will survive and not incur any point deduction.
the issue is not if the Parent company and the football club are the same. the question is whether the two are "inextricably linked" If CSI fund the running costs of PFC, and given the payment due on the CVA, running costs, and low gate receipts, I cannot for 1 minute think that PFC are profitable, and cash generative, so can only assume that the funding must come from the parent company. If true, then they are inextricably linked. Also given that chanrai has registered a charge against CSI and their assets, that charge could tricle down to PFC. Again this could be evidence of linkage. have a look at this anagram :- Faeces creek up paddle a without.
Just cut and paste this from the Guardian: FFS - So Antonov was 'found' ie introduced to Pompey by the former FL Chairman.
Form wikipedia "Bo Lundgren, head of the Swedish National Debt Office said that part of the reason the Debt Office's review of Antonov took so long was the agency's need to examine rumours about his background, stating: "There have been a lot of rumours floating around which have led us to do this type of investigation. But we haven't found anything to indicate that he's inappropriate as an owner." In February 2011, it was announced that Spyker Cars NV, the Dutch owner of Saab Automobile, agreed to sell its sports-car unit to Vladimir Antonov." Exoneration In January 2011, it was reported that GM was preparing to reverse its decision not to allow Antonov to hold a financial interest in Spyker and Saab and allow him to invest. Antonov said that he has no "connection to any criminal people" and that he had hired an investigative firm to produce evidence that he has no criminal background. In December 2010, it was reported by Swedish financial newspaper, Dagens Industri, that two independent reports, one of which was commissioned by the Swedish government had shown that there was no evidence that Vladimir Antonov is guilty of any of the accusations made against him. Victor Muller, CEO of Spyker Cars, also stated that he believed Vladimir Antonov to be innocent of the accusations. Following this, Antonov acquired the sportcars division of Spyker Cars NV." So it seems he was deemed clean during the window of activity which conclude with the purchase of PFC in June
I dont particulary like sticking up for the Blue Few, but their case is different from ours. There's is more like West Ham's. When WHU's Iclandic parent company went into admin, they weren't deducted any points.
Thanks LD, we need all the straws we can get at the moment. And rest assured, I will not try and profit from your embaressment of sticking up for us.