From the Press box

Nicole Carroll: A one woman mission to make a name in football

Reality star to become white knight at Portsmouth?

with 2 comments

To ease some of Portsmouth’s financial problems, I think they should be on commission for the amount of column inches their stories are generating. The latest to emerge from this saga is the story of the reality TV star who is meant to be preparing a bid for the stricken club.

Rob Lloyd - the face behind the bid

Rob Lloyd, a who has previously appeared on Channel 4’s The Secret Millionaire, has according to the Guardian, attended a meeting with the Portsmouth supporters group, rougly outlining the bids details. The property developer is going to be in attendance at Anfield tonight, and is looking to start negotations with Portsmouth’s administrator, Andrew Andronikou.

According to Lloyd, the bid includes support from a wealthy single investor, as well as a New York hedge fund. The Times is claiming that Andronikou is not so impressed by the approach to the supporters first. It also seems that this is possibly not the wonder consortium that Portsmouth were hoping for, with Lloyd’s own company hitting financial problems last year.

Any takeover is subject to the creditors agreeing to a ‘Company Voluntary Arrangement’. The numbers involved are massive, with former owner Sacha Gaydamak being owed £30.5, current owner Balram Chainrai owed £13.5 million, and every person in this country, under the guise of HMRC, being owed £15 million.

With the complexity of this whole case, it seems far to early to suggest whether this bid could have any chance of succeeding. The idea of people wanting to take the club on and push them forward, through what is going to be a difficult few seasons, can only buoy Portsmouth’s supporters and give them some hope of a steady future for the club.

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Written by Nicole Carroll

March 15, 2010 at 10:21 am

2 Responses

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  1. Sorry for being a pedant!

    The term CVA means ‘Company Voluntary Arrangement’. Don’t worry about it though; I read stuff from seasoned Fleet Streeters who call it any number of things not even close!

    Useful stuff on this here: http://bit.ly/bK3Ysi and here http://bit.ly/cSRuJ6

    Kevin Rye

    March 15, 2010 at 11:21 am

    • cheers for that, pretty sure its what the Guardian called it! This football finance thing is very confusing haha!

      Nicole Carroll

      March 15, 2010 at 11:35 am


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