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Author Topic: Clubs in trouble  (Read 143965 times)

Offline pdiddybaby

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Clubs in trouble
« on: January 05, 2010, 12:46:41 PM »
Two clubs are now being chased by the HMRC for winding up petitions and both show how careful you have to be with sugar daddies promising the world.

Portsmouth, we all know they were shafted when Gadaymek withdrew his money and the latest is all their TV money has been kept and distrubuted to clubs who their owed money to. Without this TV money to pay the wages you have to ask how long it will be before they have to go into administration, few decent players, if any, to sell.

Notts County, took over by a very shady group, some weird things happened there and the group sold out just for £1 to a management buyout and now can not pay the HMRC. Times there look very desperate for them and the fact the supporters trust sold their shares to Murto makes the situation worse.

And there must be others, West Ham for example need to be brought out but as far as I understand no one has yet to bid for them. Man U have had to try and refinance and situation at Liverpool not stable at all.

Just think to us with an owner very unlikely to do that to us, phewww.

Offline Acton Villa

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Clubs in trouble
« Reply #1 on: January 05, 2010, 12:54:27 PM »
Jam today?

Offline Chico Hamilton III

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Clubs in trouble
« Reply #2 on: January 05, 2010, 12:55:20 PM »
Stockport are even deeper in the shite

Offline Brend'Watkins

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Clubs in trouble
« Reply #3 on: January 05, 2010, 01:05:53 PM »
Stockport are up what's it without a what's it.

Offline Risso

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Clubs in trouble
« Reply #4 on: January 05, 2010, 01:07:09 PM »
Just goes to show what a joke the "fit and proper person" rules are.

Offline pdiddybaby

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Clubs in trouble
« Reply #5 on: January 05, 2010, 01:10:20 PM »
Quote from: "Risso"
Just goes to show what a joke the "fit and proper person" rules are.


the rules though have nothing to do with how much money you have or whether the promises you make can be held up.

Offline el león Benidorm

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Clubs in trouble
« Reply #6 on: January 05, 2010, 01:10:59 PM »
Southend are in the shite aswell, with HMRC issuing a winding up order before christmas but giving a stay of execution.

Offline Mac

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Clubs in trouble
« Reply #7 on: January 05, 2010, 01:12:11 PM »
Quote from: "Bren_d"
Stockport are up what's it without a what's it.

Never mind a paddle, they haven't even got a canoe

Offline el león Benidorm

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Clubs in trouble
« Reply #8 on: January 05, 2010, 01:13:13 PM »
Scrub that, the Chairman of Southend 'found' the 2million just in the nick of time......

Offline Percy McCarthy

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Clubs in trouble
« Reply #9 on: January 05, 2010, 01:22:50 PM »
Never mind Southend et al, let us spare a thought for the Glazers, currently grovelling round the money markets trying to ease Man Utd's incredible debt burden.

Offline el león Benidorm

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Clubs in trouble
« Reply #10 on: January 05, 2010, 01:25:36 PM »
Bless, maybe we should have a whip round for them.

Here have the steam from my piss.

Oh no, I wouldn't give them that either

Offline Concrete John

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Clubs in trouble
« Reply #11 on: January 05, 2010, 01:32:42 PM »
The biggest could be yet to come if Liverpool don't make the CL.  The loss of income could be catastrphic, mainly in terms of debt servicing!

However, they could sell a player or two (wonder who?) and/or a rich owner would come in given their profile.  Not an option the Stockports of this world have, unfortunately!

Offline 1_Pablo_Angel

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Clubs in trouble
« Reply #12 on: January 05, 2010, 01:33:52 PM »
I am good friends with a Portsmouth season ticket holder who, after a bit of digging around has come up with what seems a ridiculously elaborate conspiracy theory for the goings on at Portsmouth. Trouble is... there's nothing particularly unbelievable about any of it.

Here's his post about it on another forum. Goes without saying that this is all hypothetical and a fictional account of what might have left Portsmouth in such a state, but I know on this site people are a bit worried about getting into trouble for stuff so mods, feel free to edit or delete if you so wish.

It's an interesting read anyway:

The theory is that Sasha Gaydamak is still indirectly in charge of the club (using it for money laundering) and is basically withdrawing the vast majority of income from player sales, TV revenue, gate receipts etc into his own accounts, whilst using loans to pay for day-to-day expenses, thus building up the debt. This will go on until the club inevitably enters administration and in most likelihood folds completely.

A few things to consider –

- Despite all the player sales over the past year or so (Diarra, Muntari, Johnson, Defoe, Crouch, Distin, Kranjcar, Mendes) bringing in around £80m in income, plus the Sky money, ticket sales and other revenues, which must total around £150m, there is still no sign that the debt situation has changed – we’re still struggling to pay basic expenses such as the player salaries, this despite now having one of the lowest wage bills in the league. Were our debts really that big to begin with? Unlikely.

- Pretty much every business Sasha Gaydamak has ever owned has gone into liquidation.

- Ali Al-Faraj is still a complete unknown. He was a supposed “billionaire”, yet no-one had ever heard of him, even in his homeland of Saudi Arabia. He is yet to turn up to any games (not even Man Utd at home, despite word going around that he would attend) which was originally put down to permit issues, yet his “brother” has attended some games. No-one is quite sure who he is or where he got his money from, and all that has been released of him is this one photo:





Is this man in the photo Ali Al-Faraj, or just some random Arab being used as a smokescreen for Gaydamak’s cash cow scheme? Is Ali Al-Faraj even a real person, or is he completely made-up? And if he isn’t a real person, how the fuck did he pass the FA’s Fit and Proper Person Test?! Keep in mind that Al-Faraj reportedly didn’t spend a penny on buying the club; all he did was take over the clubs debts. In theory I could have done that – all I’d need to do is fool the FA into thinking that I had the financial clout required to run a football club. And as we all know, the FA are useless bunch of tossers anyway.

- Two men called Balram Chainrai and Levi Kushnir loaned us £15m in September to help with costs. These two men co-founded a company called Ameris Holdings, who sold 65% of shares to Sasha Gaydamak’s father Arcadi (who has an arrest warrant out for him in France for arms dealing during the Angolan civil war. He’s been sentenced to six years but is now hiding back in Russia as they have no extradition treaty with France) Anyway, Arcadi used to be owner of Beitar Jerusalem (until July this year) but ran into some problems with Israeli law and had his account frozen. His business partners Chainrai and Kushnir sued Arcadi for failing to buy the rest of the shares of their company Ameris Holdings as was apparently agreed, and were awarded £16m from Arcadi’s frozen accounts. They then lend Pompey £15m for apparently no reason at all…. seems like a good way of transferring cash from one frozen bank account to another active one, no?

- Another face currently hanging around the club is someone called Danny Azougy, who has been brought in as a financial advisor. He is an Israeli lawyer/accountant and multi-time convicted fraudster you used to work for, yep, Arcadi Gaydamak.


Quote
“Disgraced lawyer Daniel Azougy is controlling the club’s finances, despite a string of convictions for fraud dating back eight years. He was found guilty of FOUR counts of embezzling client funds in Israel in 2002. He was sentenced to five months in prison – but did not spend any time behind bars as he was allowed to do his time in community service instead. Azougy was also banned from practising law by the Israeli Bar Association for FOURTEEN YEARS. Then in March this year, Fratton Park’s new finance man was sentenced to two months’ community service and a year’s probation – and fined £25,000 – for a securities fraud resulting from a dodgy share transfer back in 1999.Azougy was found to have lied to the Israeli Stock Exchange bosses over the deal. He got off with a light sentence because the offence happened 10 years earlier.”
Azougy specialises in liquidation and was appointed by Arcadi to deal with the asset stripping of Beitar Jerusalem towards the end of his reign. And here he is again, no doubt appointed by the same person to do a similar job.


- Two other names, Roni Mana and Yoram Yosepov, have been linked as potential investors to the club. They denied it, but admitted on record that they are acting as “business advisors” to Ali Al-Faraj and claimed they persuaded him to appoint Avram Grant as manager. Type the name ‘Roni Mana’ into Google along with Gaydamak and you’ll see, unsurprisingly, they have quite a history of dealings too. The first result says Mana “has been the middleman in all of Gaydamak's recent business transactions”. It’s clear that the people being deployed by the club are Gaydamak’s people, not Al-Faraj’s, if he even exists.

- Where does Al-Fahim fit into this? Well, my theory is that he intended to buy the club back in May and had a serious backer lined up (probably Thaksin Shinawatra as reported) but that went down the pan. Once it became clear Al Fahim didn’t have anywhere near the required financial means on his own, and after he failed to attract other investors to pay off the remainder of Sasha’s demands, Sasha went with Plan B – Al-Faraj the mirage – and decided to rape the club for everything he could. He clearly doesn’t give a shit whether the club survives or goes bust, and why should he? Al-Fahim is left sat there as a non-executive chairman, owning 10% of a worthless company, with no money and no decision making authority like the useless fat prick that he is.


So there you have it. Clearly there’s a lot of dodgy stuff going on. I’m 100% sure the Gaydamak’s are still in charge, and as they have no invested interest in keeping the club afloat, I really can’t see a happy ending to it all. No investors are going to want to buy the club – not when you consider the current league placing, shocking infrastructure and (somehow still) massive level of debt. Now the winding up order has been set, the end seems to be nigh. The club is getting fucked up the arse and I honestly reckon we’ll be out of business in the coming months. Possibly administration as early as next month. Wonder if the players will get paid tomorrow?[/i]

Offline Bent Neilsens Screamer

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Clubs in trouble
« Reply #13 on: January 05, 2010, 01:38:36 PM »
Quote from: "lion_in_essex"
Scrub that, the Chairman of Southend 'found' the 2million just in the nick of time......


That reminds me, I must look down the back of the sofa when I get home.

Offline pdiddybaby

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Clubs in trouble
« Reply #14 on: January 05, 2010, 01:39:23 PM »
Well 1_Pablo_Angel not surprised at all by that post, it is shocking that Gaydamek was even allowed to take over given his father failed the fit and proper persons test yet it was rumoured his father was behind it all.

Can the fans call in the police over this ?

 


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