MM delay

[highland fox]

Can't reveal the source. They trust me with everything and I don't wish to reveal who they are. They did tell me that all the insider have gone to insider class and so no movements can be expected until next Thursday, that's all the info I have from a reliable source. As I said, my source trusts me and so I can't reveal anything else

Does your post self destruct after 5 minutes?

 

[Melton Fox]

Presumably that where Newton is then :icon_bigg

Newton has always given very reliable information, it's always the facts that let Newts's information down

No, we all know that newts does in fact have contacts within the club, he's genuine. I don't know where the other insiders get their incorrect facts from though

 

[SilverFox]

How in the name of God can this be delayed yet again. Is there an indication as to whose fault this actually is?

 

[Durham Fox]

How in the name of God can this be delayed yet again. Is there an indication as to whose fault this actually is?

The FT say MM but theres no suprise there....

 

[Durham Fox]

Newton has always given very reliable information, it's always the facts that let Newts's information down

No, we all know that newts does in fact have contacts within the club, he's genuine. I don't know where the other insiders get their incorrect facts from though

:icon_lol: :icon_lol: :icon_lol:

 

[BOB HAZELL]

Newton has always given very reliable information, it's always the facts that let Newts's information down

No, we all know that newts does in fact have contacts within the club, he's genuine. I don't know where the other insiders get their incorrect facts from though

Personally, I get them from "Hans Christian" Anderson, and he's never let me down :icon_wink:......!

 

[Melton Fox]

Personally, I get them from "Hans Christian" Anderson, and he's never let me down :icon_wink:......!

:icon_lol: I seen what you did there Bob :icon_wink

 

[Feriol]

How in the name of God can this be delayed yet again. Is there an indication as to whose fault this actually is?

i don't think its several delays. From what the FT has said, the dates quoted in the media could never have been true.

 

[OldGit]

i don't think its several delays. From what the FT has said, the dates quoted in the media could never have been true.

Dead right - just people's wildly optimistic speculations that become "fact" once they are written down here or in the press.

 

[Dour]

i don't think its several delays. From what the FT has said, the dates quoted in the media could never have been true.

The FT have said there have been several delays, though. Some from MM, some from the board.

I'm a little surprised no fecker, press or trust or whoever, has written to Storrie at Portsmouth demanding to see the register of shares for Pompey and the previous holding company (Miland developments 2004), even if just to nail the rumour about non-payment from Gaydamak pere et fils.

 

[Foxes_Trust]

The FT have said there have been several delays, though. Some from MM, some from the board.

I'm a little surprised no fecker, press or trust or whoever, has written to Storrie at Portsmouth demanding to see the register of shares for Pompey and the previous holding company (Miland developments 2004), even if just to nail the rumour about non-payment from Gaydamak pere et fils.

The information we have from sources in the game is that Gaydamak still owes MM a large sum & if he defaults on payments the shares would go back into MM ownership.

So in theory he doesn't own them now, but could again & in doing so break the rules on ownership, what the authorities make of that we don't know.

 

[PFKAKTF FOX]

Honest question to the Trust, are we anywhere near reaching a conclusion and is there a genuine chance that the deal could still collapse and where would that leave the club ???

Are there are other viable alternatives to Mandaric ???

 

[Dour]

The information we have from sources in the game is that Gaydamak still owes MM a large sum & if he defaults on payments the shares would go back into MM ownership.

So in theory he doesn't own them now, but could again & in doing so break the rules on ownership, what the authorities make of that we don't know.

Still seems no-one has checked the actual share registers - and there's still not been any change in the directors... So a reasonable guess would be that MM still has an interest in Pompey.

But the FA will almost certainly work on shareholdings and variations on beneficial ownership. If this is how it stands, you'd have to think that Gaydamak's line is, and the question MM has to answer to himself is, "Is buying Leicester worth £8million more than you're bidding, because if you buy them, you'll be getting Jack Shit."

And the authorities - if it is a charge held over the shares and they revert to MM - they'll give him a period of grace to resolve the situation. With shares probably next to worthless in both clubs.

 

[Fox Fan]

Honest question to the Trust, are we anywhere near reaching a conclusion and is there a genuine chance that the deal could still collapse and where would that leave the club ???

Are there are other viable alternatives to Mandaric ???

I can answer that one for you. According to my sources, which are exceptionaly reliable, this deal should be completed BEFORE the end of January.

 

[Chrysalis]

My contact who is a shareholder or rather was says he has agreed to sell his shares and was contacted. So I am bemused about the FT not getting any documents yet.

 

[Jeff]

My contact who is a shareholder or rather was says he has agreed to sell his shares and was contacted. So I am bemused about the FT not getting any documents yet.

Maybe he's agreed to sell his shares without seeing the official bid.

 

[Chrysalis]

I will know tommorow as going round his house, on the phone he told me he agreed to sell them and has recieved a offer.

 

[Redditch Fox]

Still seems no-one has checked the actual share registers - and there's still not been any change in the directors... So a reasonable guess would be that MM still has an interest in Pompey.

But the FA will almost certainly work on shareholdings and variations on beneficial ownership. If this is how it stands, you'd have to think that Gaydamak's line is, and the question MM has to answer to himself is, "Is buying Leicester worth £8million more than you're bidding, because if you buy them, you'll be getting Jack Shit."

And the authorities - if it is a charge held over the shares and they revert to MM - they'll give him a period of grace to resolve the situation. With shares probably next to worthless in both clubs.

Interesting.

Do I understand that what you are saying is that if £8m of Pompey shares are unloaded on MM through a default that by definition they will be worthless because MM won't be allowed to keep them and no one else will be interested in acquiring them? And that Gaydamak has seen this coming and simply has to keep his cards tight?

If so - let's hope that either Gaydamak is a very very nice man....or MM has some hidden cards to play.

 

[Melton Fox]

Surely Gaydamark now owns the shares. If he fails to pay MM, that's just tough shit.

If MM has signed the shares over, they're gone. If he hasn't signed the shares over, he can't buy Leicester.

I can't really see a position where if Gaydamark doesn't pay he will have to return them, who can possibly enforce such a silly rule.

The only scenario that I can se is that MM was desperate to offload the shares to buy Leicester, that's why he signed them over free. If he put in a get out clause in the contract regarding the shares being returned, he's screwed himself with regards the takeover.

I think MM would possibly give up his shares of Portsmouth to Gaydamark as the money he will get from them is nothing compared to what he will get for City in 5 years

 

[Real Sharapova]

Surely Gaydamark now owns the shares. If he fails to pay MM, that's just tough shit.

If MM has signed the shares over, they're gone. If he hasn't signed the shares over, he can't buy Leicester.

I can't really see a position where if Gaydamark doesn't pay he will have to return them, who can possibly enforce such a silly rule.

The original clause was, I would guess, at MM's insistence. He was probably given to understand Gaydamark would have paid up in full by now - remember MM said he would really have liked to have made his move for Leicester much later than he did. It appears Gaydamark is having problems coming up with the balance.