Tag Archives: assets

Portsmouth face 10 point deduction even if supporters trust save club

Pompey will still be docked 10 points if supporters group win fight to save club

|

UPDATED:

17:13 GMT, 10 December 2012

Portsmouth still face a 10-point deduction should the Pompey Supporters' Trust (PST) win their battle to save the club this week.

The Football League today confirmed the sanction, to be imposed once the club comes out of administration, after receiving details of the PST's proposed takeover.

PST's bid hinges on administrators PKF gaining permission to sell Fratton Park, which is controlled by the club's former owner Balram Chainrai, at a High Court hearing which starts on Thursday.

In danger: Portsmouth will be docked 10 points even if the supporters trust saves the club

In danger: Portsmouth will be docked 10 points even if the supporters trust saves the club

The League is awaiting the outcome of that hearing, and for the trust to raise the remaining funds as set out in their business plan, before fully considering their application.

A statement from the League read: 'The Football League Board has received details of a proposal by Pompey Supporters' Trust and its partner investors to acquire the assets and certain liabilities of Portsmouth Football Club.

'Having considered the proposal in detail, the Board concluded that it had significant merit.

'However, two outstanding points will have to be resolved before the Board can fully consider PST's application to become the new owner of Portsmouth Football Club.

'They are the outcome of the current High Court proceedings relating to the ownership of Fratton Park and PST raising the remaining funding from supporters that is anticipated in its business plan.

'The Board also confirmed that ongoing membership of the League would be subject to a number of conditions that seek to ensure the sporting integrity of league football and the financial viability of the club going forward.

'It therefore reaffirmed its earlier decision that these conditions would include a deduction of 10 points (applicable at the point of transfer of share) and a range of other restrictions on playing budgets and future borrowing for the next four seasons.'

Pompey, who have been in administration since February, are currently one place and one point outside the npower League One relegation zone.

Andre Villas-Boas hits out at Luka Modric after Gareth Bale comment

Worry about your own team, Luka! AVB blasts Modric as former Spurs favourite urges Bale to join him at Real Madrid

|

UPDATED:

11:55 GMT, 30 November 2012

Andre-Villas-Boas has told Luka Modric to mind his own business and to worry about his own team.

Modric has told former Tottenham team-mate Gareth Bale to leave the club and join him at Real Madrid.

But Villas-Boas responded by telling him to concentrate on Real Madrid, who have their worst points tally at this stage in the season since 2005.

Time's up: Bale has been urged to leave the north London club by Modric

Time's up: Bale has been urged to leave the north London club by Modric

He said: 'Modric has to worry about his own team. He has to worry about the next round of the Champions League when the draw comes. He has to worry about Madrid. I think he should focus on his club rather than ours.

'The club has to protect our assets regarding our objectives. We have to qualify for the Champions League, as Luka says. For that to happen we need the players who make a difference. We're not looking to sell we're looking first to obtain our objectives and that's the most important thing.'

The Spurs boss admitted earlier in the week that he faces a fight to keep hold of the Welsh winger.

But he does not expect him to be going anywhere in the January transfer window. The 35-year-old added: 'It's extremely difficult if not impossible [for the transfer to happen]. Modric is aware of Gareth's performances because of his love for Tottenham and his connections here. [But] it's completely impossible.'

Moving on: Modric joined Real Madrid in the summer

Moving on: Modric joined Real Madrid in the summer

Bale continues to attract interest with his performances on the pitch and has netted 10 times in only 23 appearances in all competitions this season.

He scored the winner in Tottenham's 2-1 victory against Liverpool on Wednesday, his third goal in four matches.

But Villas-Boas has absolutely no intention of letting him go in January and sees him as crucial to Spurs' attempts to qualify for the Champions League.

He called the next three matches important in the club's pursuit of a top four place.

They face Fulham tomorrow at Craven Cottage and in the league away to Everton and at home to Swansea.

Arsenal watch Crystal Palace star Wilfried Zaha

Arsenal send scout to watch Palace star Zaha as they weigh up January move

|

UPDATED:

07:12 GMT, 29 October 2012

Arsenal have upped their interest in Crystal Palace star Wilfried Zaha after watching him at the weekend.

Gunners boss Arsene Wenger’s chief scout Steve Rowley watched Zaha in Palace’s 2-1 win at Leicester.

Zaha has been in good form this season and has already netted four goals this term.

Keeping tabs: Arsenal watched Wilfried Zaha at the weekend

Keeping tabs: Arsenal watched Wilfried Zaha at the weekend

Football League blog

Palace managed to hold onto Zaha in the summer but are likely to receive more interest in the 19-year-old when the transfer window re-opens in January.

The forward's form has also brought interest from Tottenham, Manchester City and Chelsea, but the Palace owners will be keen to hold onto one of their prize assets after insisting earlier this month that Zaha is not for sale.

Jack Butland on Everton and Southampton radar as Birmingham consider sale

Everton and Southampton on alert as Birmingham consider Butland sale

|

UPDATED:

05:36 GMT, 18 October 2012

Everton and Southampton are ready to swoop for Birmingham goalkeeper Jack Butland.

The England youngster could be sold by the npower Championship club during the January transfer window to help ease their financial plight.

Birmingham are actively seeking a new owner and are in talks with two parties.

In demand: Southampton and Everton are interested in Butland (right)

In demand: Southampton and Everton are interested in Butland (right)

Former QPR chairman Gianni Paladini is among those interested in buying the Midlands club but his 25milllion offer is way below the 40m wanted by the Birmingham hierarchy.

Butland, 19, has emerged as one of the brightest prospects in English football, and although Birmingham insisted earlier this year that they didn't want to sell one of their most-valued assets, their hand could be forced in January.

Manchester City are also monitoring the situation.

Balram Chainrai denies there are problems with Portpin"s Portsmouth takeover

Chainrai denies there are problems with Portpin's takeover of stricken Portsmouth

|

UPDATED:

15:08 GMT, 13 October 2012

Balram Chainrai has denied there are problems with Portpin's takeover at Portsmouth.

Pompey have been in administration since February and the npower League One outfit will go bust if a takeover is not completed.

It is the second time the club has been in administration in two years and Chainrai was at the helm the first time in February 2010, before selling to Vladimir Antonov.

Portsmouth went back into administration this year during which time Portpin retained a charge over the club's assets and Fratton Park.

Denial: Chainrai

Denial: Chainrai

Chainrai is now looking to take over the club but reports have questioned whether he will pass the fit and proper person test as Football League rules do not allow a person to own a football club or be a director if he has previously twice been a director or owner of a club when it has fallen into administration.

Following those reports, the Hong Kong-based business released a statement that said: 'Our discussions with the Football League have been positive and are progressing.

'As far as we are aware we have satisfied the majority of the criteria and we expect now to work through the last remaining points with the Football League in the coming days.

'We are very confident that we are in a position to complete the acquisition of Portsmouth Football club in the near future.'

The reports also suggested administrators PKF are set to resume discussions with the Pompey Supporters Trust (PST) next week over its takeover proposal.

The trust, which could be presented to the Football League as preferred bidder, is expecting to hear from administrator Trevor Birch soon and remains resolute in its attempts to buy Portsmouth.

'The PST position has always been clear that we have got what we believe is a credible bid,' PST spokesman Colin Farmery said.

'It has been on the table since June and we've always said that we're ready, willing and able to buy the club.

'Obviously we've seen these interesting stories overnight that have come out in the media.

'As far as we're concerned, we're in an on-going dialogue with PKF and we're expecting to get further clarification next week.

'We wrote to the Football League about a fortnight ago outlining our concerns as to why we thought that Portpin should not actually pass their owners and directors test.

'The Football League met on Thursday and nothing official has come out of that meeting at the moment.'

Charles Green thanks Rangers fans for backing on share issue

Green praises fans for share backing as Rangers dream up big plans

|

UPDATED:

14:02 GMT, 13 October 2012

Rangers chief executive Charles Green has thanked fans for demonstrating their early support for plans for a share issue.

The Glasgow club announced on Thursday their intention to seek admission to the Alternative Investment Market of the London Stock Exchange in the hope of raising up to 20million.

According to Rangers, funds raised will be used for 'strengthening the player squad, improving and developing the club's properties and providing additional working capital'.

Ideas: Charles Green shows off property plans

Ideas: Charles Green shows off property plans

Green, who values the Ibrox club at 25-30million, hopes to have their admission to the AIM completed by the end of November.

And he has welcomed what he described as a 'very encouraging' early response from the club's support.

Green said: '/10/13/article-0-15752011000005DC-184_468x315.jpg” width=”468″ height=”315″ alt=”Encouraging: Green is pleased with how things are going” class=”blkBorder” />

Encouraging: Green is pleased with how things are going

'This is an early indication of interest but I would like to thank fans for the support they have given the process so far and we are pleased that fans have the opportunity to invest in the club.

'I think this shows once again that Rangers are a big club with a big support.'

Green's consortium purchased the business and assets of the club for 5.5million after the 'oldco' Rangers were consigned to liquidation in the summer after several months in administration.

He added: 'Now we are a debt-free business there is every opportunity for the club to be run efficiently, effectively and successfully.'

Leeds are like a young Pamela Anderson, says David Haigh

Leeds are like a young Pamela Anderson, says prospective chief as takeover looms

|

UPDATED:

08:21 GMT, 9 October 2012

Leeds United are like a young Pamela Anderson – 'in great shape, with superb assets and a great future ahead of her', according to the man who hopes to complete his takeover of the club this month.

David Haigh, deputy chief executive of the Bahrain-based Gulf Finance House (GFH), revealed the Middle East consortium are closing in on buying the Championship club from current owner Ken Bates.

Young Pamela Anderson during her acclaimed Baywatch days

Leeds are on the brink of a takeover deal

You beauty: Leeds have been likened to a young Pamela Anderson (L) during her acclaimed Baywatch days

Football League blog

Talks opened in June between both parties with former Chelsea chairman Bates blaming lawyers for the delay.

Haigh – a Leeds fan – is confident the deal will be done within three weeks and wants to guide the Yorkshire outfit back to the promised land of the Premier League as quickly as possible.

'Leeds is like a young Pamela Anderson. It's in great shape, with superb assets and a great future ahead of her,' Haigh told The Sun.

Nearly done: David Haigh expects his takeover at Elland Road to be completed by the end of the month

Nearly done: David Haigh expects his takeover at Elland Road to be completed by the end of the month

'Like any big acquisition we have to be thorough and that's the process we're going through right now. We're almost there and, hopefully, within three weeks it could be done.

'We are working incredibly hard to get the deal done but there are procedures and rules which must be followed.'

Robin van Persie transfer: It hurts selling to our enemies, says Arsene Wenger

Wenger: United are our enemies, it hurts selling Van Persie to them

|

UPDATED:

13:58 GMT, 16 August 2012

Fantasy football 2012

Arsenal boss Arsene Wenger has admitted that he would have rather seen Robin van Persie join big-spending Paris Saint-Germain than Premier League 'enemies' Manchester United.

An 24million deal was agreed on Wednesday that sees Arsenal break with precedent to sell one of their prize assets to bitter rivals United for the first time in Wenger's 16-year reign.

Arsenal's hand was forced last month when the 29-year-old revealed that he would not sign a new deal at the club, meaning that they had to offload their captain or lose him for free next summer.

'Enemies': Wenger would rather have sold Van Persie to Paris Saint-Germain

'Enemies': Wenger would rather have sold Van Persie to Paris Saint-Germain

But despite sanctioning the sale, Wenger has admitted that he is disappointed that the Dutchman will be wearing the shirt of the club that he has battled against for so many years.

'To strengthen an enemy is the other negative point of this loss,' Wenger told Eurosport’s parent station TF1. 'We wanted to avoid it but we couldn’t. Honestly, I’d rather sell him abroad, to Paris Saint-Germain for example.

'Manchester United know him and know his qualities. He’s really an exceptional player, believe me.'

Wenger, however, is optimistic that Arsenal can cope with the departure of Van Persie as they prepare for the new Premier League season.

Deadly duo: Van Persie will be paired with Wayne Rooney (right)

Deadly duo: Van Persie will be paired with Wayne Rooney (right)

'Van Persie is a great player so it’s always sad to lose such a player. But we must consider the economic reality and the will of the player,' he added.

'When you can’t succeed in extending the contract of a player that is in its last year, there is no other way but to let him go. It’s sad because he played for us for eight years. He’s 29 now. He was 21 when he came and it’s another bitter pill to swallow.

'A lot has happened before and we survived it all, but this is a real challenge because Van Persie scored 30 (Premier League) goals in a year, almost one per game. It’s a tough challenge for our new forwards to replace him.'

Stepping into the breach: Giroud (right) will get a chance now that Van Persie has gone

Stepping into the breach: Giroud (right) will get a chance now that Van Persie has gone

When Arsenal signed France striker Olivier Giroud earlier this summer Wenger insisted that he was not brought in as a direct replacement for Van Persie, but now the Frenchman has said that he feels Giroud is the man to step into his shoes.

'The economic part of it is the only satisfaction. But money doesn’t go out on the field and play, players do,' he said.

'It will give more chance to Giroud. When Van Persie is here, his name is the first on the team-sheet and the others follow. So there’s a void to fill.'

Xabi Alonso to turn down contract extension at Real Madrid

Premier League big boys on alert with Alonso looking to leave Real Madrid

|

UPDATED:

11:19 GMT, 13 August 2012

All-conquering Spain midfielder Xabi Alonso looks set to turn down a two-year contract extension at Real Madrid in order to leave the club next summer.

The former Liverpool star – who has won the World Cup, European Championship, La Liga and the Champions League in a stellar career – will see his Bernabeu contract expire in two years.

Eyeing a move: Alonso (left) is unlikely to sign a new deal at Madrid

Eyeing a move: Alonso (left) is unlikely to sign a new deal at Madrid

With the 30-year-old's value depreciating rapidly and with Madrid not short of midfield options they could be willing to cash in on one of their prize assets, according to Sport.

Liverpool would be interested in bringing the former Real Sociedad schemer back to Anfield, while Manchester United, Manchester City, Chelsea and Arsenal may also be tempted to make an offer.

Leighton Baines in the dark over Manchester United switch

Everton defender Baines in the dark over Man United switch

|

UPDATED:

14:10 GMT, 1 July 2012

Everton ace Leighton Baines insists he isn’t getting excited about a possible move to Manchester United as the Old Trafford club ponder a summer swoop.

Manager Sir Alex Ferguson been courting the England international but are yet to make a firm offer for his services to the Merseyside club.

Everton value Baines at 18million but boss David Moyes is desperate to hang on to one of his prize assets.

Wanted: Manchester United are pondering a bid for Baines

Wanted: Manchester United are pondering a bid for Baines

'I've been aware of what's been said in the press but I don't know much beyond that,' Baines said.

'It doesn't do any harm [to be linked] but it doesn't do any good either.

International duty: Baines was a member of the England squad but didn't play

International duty: Baines was a member of the England squad but didn't play

'It's just one of those things that tends to swing around this time of year.

'People put two and two together sometimes they get four and sometimes they get three or five. It gets other people more excited than those involved.'

Italian side Napoli are also monitoring the situation.