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O Fenomeno

Spurs. Are. Fucked.

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Someone edit it for me please?

Summer 2001: Harry Redknapp, having been sacked by West Ham at the end of the 2000/2001 season, is hired by Milan Mandaric as a director of football.

March 2002: Redknapp takes the manager's job after Graham Rix is sacked for a string of poor results.

Summer 2002: The £5 million sale of Peter Crouch means that Redknapp is able to rebuild the squad as other clubs struggle due to the collapse of ITV digital. The squad he assembles runs away with the Division One title and is promoted to the Premier League as 2002/2003 champions.

May 2004: Redknapp keeps Pompey in the Premier League, but cracks in the relationship between the manager and Milan Mandaric begin to show as Mandaric is rumoured to be wanting to get rid of assistant Jim Smith.

November 2004: Redknapp resigns from Pompey due to Mandaric hiring a new director of football in Velimir Zajec, who then takes the manager's job. Redknapp then becomes manager of Southampton and takes Jim Smith, Kevin Bond and Nigel Quashie with him.

April 2005: Struggling Pompey sack Zajec and bring in Alain Perrin. The team improve and then thrash Redknapp's Southampton 4-1 at Fratton Park, with Saints eventually being relegated. However, with key players leaving in the summer and Perrin signing unknown players, Pompey are tipped for the drop the following season.

November/December 2005: Perrin is sacked and Redknapp remarkably returns to Pompey having walked out on Southampton. Milan Mandaric then sells half of the club to Alexandre Gaydamak, who repeatedly denies he has used any of his father's money to purchase his half of the club. His father, Arcadi Gaydamak, was the owner of Beitar Jerusalem at the time and wanted for alleged arms dealing.

January 2006: Gaydamak immediately hands Redknapp a massive transfer kitty in an attempt to save the club from relegation. Benjani is signed for a record £4.1 million, Pedro Mendes, Sean Davis and Noe Pamarot arrive from Spurs for a combined £9 million amongst others. Pompey complete a "great escape" from relegation as the season ends.

Summer 2006: Redknapp goes on a huge signing spree, Sol Campbell is the marquee signing who joins on £100k p/w whilst other high earners in David James, Andrew Cole and Kanu join the club, all funded by Gaydamak's money.

August 2006: Milan Mandaric sells his half of the club to Alexandre Gaydamak, who still maintains that the money he is spending is his and his alone.

May 2007: Pompey finish in 9th place in the Premier League, their highest finish for 50 years. Gaydamak rewards Redknapp with a three year contract that reportedly pays him 80k p/w.

Summer 2007: Redknapp's spending spree continues. John Utaka and David Nugent sign for a combined £14 million. Glen Johnson signs for £5 million, Sulley Muntari signs for £7 million whilst Sylvain Distin and Hermann Hriedarsson arrive on a free but on big wages.

January 2008: Redknapp is about to leave for Newcastle but "changes his mind" and is given even more money to spend on signings. Jermain Defoe signs from Tottenham for £8 million whilst Lassana Diarra signs for £5.5 million. There is a significant departure as Benjani leaves to supposedly cover Defoe's transfer fee, but this suggests that Gaydamak's situation isn't quite as clear as people would believe.

May 2008: Pompey win the FA Cup with their expensively assembled squad, the highest point in the club's modern history and the first major honour since 1950. A couple of years later, David James reveals that many players had huge cup win bonuses in their contracts which would cripple the club.

Summer 2008: Redknapp signs Peter Crouch for a record £12 million from Liverpool. However, the books are balanced with Sulley Muntari's £11 million move to Inter Milan. The other arrivals are loans as there is talk that Gaydamak's money has ran out.

Autumn 2008: Arcadi Gaydamak is wanted for alleged illegal arms dealing and money laundering. Standard Bank, the bank Pompey loaned money from immediately demands its money back as they suspect that Alexandre Gaydamak doesn't have the money to repay them by himself.

October 2008: Harry Redknapp, knowing his days of big spending are over, leaves for Tottenham as Pompey receive £5 million in compensation. Despite being linked with big names, assistant manager Tony Adams is hired on the cheap.

January 2009: The exodus begins as Defoe returns to Spurs for around £13 million, Diarra joins Real Madrid for £20 million but Pompey are still in need of more money.

February 2009: Adams is sacked for a terrible run of results. More big names are linked to the club but youth manager Paul Hart takes the job, again on the cheap. Pompey limp to a 14th place finish despite a squad of star players and a UEFA Cup campaign behind them.

Summer 2009: Arcadi Gaydamak reportedly admits his son was a front to purchase Pompey and now needs to sell the club as his assets are frozen by European authorities. The club is involved in a bidding war between poor Arab Sulaiman Al-Fahim and a consortium led by Peter Storrie and mysterious figure Ali Al-Faraj. Gaydamak opts to sell to Al-Fahim knowing that Al-Faraj is more than likely to be a front for Balram Chainrai, a man whom he is being sued by.

Whilst this is all going on, Peter Crouch and Niko Kranjcar leave for Spurs for a combined £10 million. Glen Johnson signs for Liverpool for £16 million and Sylvain Distin signs for Everton for £5 million amongst others. Peter Storrie still spends a lot of money as Kevin-Prince Boateng and Tal Ben-Haim arrive on huge wages amongst others, but the squad is much weaker.

Before long, Al-Fahim is soon discovered to be a chancer with no money despite passing the Premier League's "fit and proper person" test, and is practically forced to sell the club to Ali Al-Faraj's consortium which also pass the test. Al-Faraj is never seen in person but lets slip that "his consortium" is looking to sell the club quickly to make a quick profit.

It is soon discovered that Al-Faraj used a £17 million "bridging loan" from Portpin Ltd to buy the club, around the same time Balram Chainrai successfully sues Gaydamak for £17 million. To this day it is unclear whether he has paid up, but probably not. Either way, it is now pretty clear that Al-Faraj was just an agent for Chainrai to take over the club in order to get his money back from Gaydamak and make a quick profit due to Pompey's Premier League status, unaware of just how much debt the club was in.

December 2009: Paul Hart is sacked die to poor results and technical director Avram Grant takes charge. Al-Faraj cannot keep up repayments on his loan from Portpin, owned by Balram Chainrai. As a result, Chainrai takes Portsmouth FC as ransom. The club's financial problems mean the Premier League place the club under a transfer embargo whilst HMRC issue a winding up petition to Pompey over unpaid taxes.

January 2010: Chainrai orders a fire sale of players to "try and reduce the club's reported £135 million debt" and hires convicted fraudster Daniel Azougy to control Pompey's finances. Younes Kaboul returns to Spurs for more than £4 million and Asmir Begovic joins Stoke for £3.5 million. Chainrai allegedly took the £4 million and pocketed the money himself.

February 2010: With the fire sale failing and the winding-up order hearing imminent, Chainrai puts Portsmouth into administration to protect his investment. UHY Hacker Young (Andrew Andronikou's lot) are appointed administrators to work on Chainrai's behalf. The club incurs a 9 point penalty and is essentially relegated. Despite this, Pompey somehow manage to reach the FA Cup Final, beating Southampton and Redknapp's Tottenham on the way before losing 1-0 to Chelsea.

March 2010: Peter Storrie resigns from the club as C.E.O, having been paid up to £250k p/a during his tenure. During his time at the club, Pompey racked up debts of around £150 million and yet he still stayed at the club as a consultant during the first administration.

Summer 2010: Avram Grant resigns and is replaced by Steve Cotterill. A new C.E.O in David Lampitt is hired and a CVA is agreed, meaning any non-football creditor owed money by the club will have to settle for 20% of what they were originally supposed to be paid. HMRC appealed against the CVA but it was rejected by the court, meaning Chainrai and Portpin could officially take over as Pompey's "reluctant" owners, knowing they still had money to make out of the club.

Despite this, David Lampitt signs deals for the likes of Liam Lawrence and Dave Kitson who arrive on huge wages as well as other loan deals during the season.

October 2010: In the first of many games of brinkmanship, Andrew Andronikou says that Pompey will go bust due to Gaydamak's reluctance to reduce a payment on what he is owed. Gaydamak eventually agrees to a new payment and the club is saved.

December 2010: Michael Brown and Richard Hughes no longer play for Pompey despite still being contracted to the club, as playing another game would trigger an automatic contract renewal which would see them continue to earn the ridiculous wages they were paid. Pompey limp to a 17th place finish in the Championship despite the high earners and multitude of loan signings.

June 2011: Portpin sells the club to Vladimir Antonov's Conver Sports Initiatives, who all pass the Football League's owners and directors test with Antonov owning 70% of the club. CSI immediately begin to splash the cash with the likes of Jason Pearce, Stephen Henderson, Luke Varney and David Norris all joining the club either for transfer fees and/or a big wage. This marks the first time Pompey signed a player for a transfer fee for a year.

October 2011: Steve Cotterill leaves for Nottingham Forest with Michael Appleton replacing him, there are also rumours of Vladimir Antonov being wanted on criminal charges, something a quick google search would have informed you about.

November 2011: An international arrest warrant is issued to Vladimir Antonov for alleged money laundering and asset stripping of banks. Lithuanian authorities freeze Antonov's assets and place him under arrest, CSI are placed into administration by Balram Chainrai, who he had security against should they not have been able to pay him/Portpin for PFC. With this news, HMRC issues another winding-up order against the club as it fears it will not be able to pay its tax once again.

February 2012: David Lampitt places the club into administration again just days before the HMRC winding-up order. Trevor Birch's PKF are appointed administrators by HMRC much to the chagrin of Chainrai who wanted Andronikou to take charge. So much so that he offered Pompey extra money to get Andronikou in, knowing that part of HMRC's agreement was to investigate past dealings between Portpin, Andronikou and PFC. This is eventually dropped as Chainrai agrees to fund the club at a minimal level as he looks to somehow "get his money back."

April 2012: Pompey are relegated due to the ten point penalty incurred by the administration and there are genuine fears that Pompey will be liquidated due to the size of the debt and no money to pay it off. The Pompey Supporters Trust plans to buy the club and asks fans to pledge £1,000 each so it can submit an offer for the club along with help from "high net worth" individuals and a loan from Portsmouth City Council.

Summer 2012: The fire sale happens as any player of any worth is eventually sold or paid off. Chainrai offers a new CVA to buy the club out of administration equating to 2p in the pound on all current non-football creditor debts. This means that all non-football creditors who were to receive 20% of what they were owed will only get 1% and yet they had no vote on the matter as forensic accountants for the old company voted "yes" on their behalf. The Football League impose another ten point penalty on the club when (or if) it exits administration.

August 2012: Michael Appleton assembles a squad of players that are out of contract or loaned. The Football League allow the players to sign one-month deals as the league season begins. Meanwhile, Chainrai pulls out of a deal to buy the club only to return a week later, whilst the Trust are still convinced that their bid, which offers more to creditors in the CVA but less compromise payments to ex-players, will work.

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rule NEEDS changin

how can it be possible to give 2p on the £ to non-footballing creditors

I remember hearing there was a local school and ambulance service who were among them

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