Guilfoyle to be appointed Administrator at Pompey now??

.. according to Matt Slater:

Matt Slater‏@mattslaterbbc

Can Pompey plot get thicker? Portpin wants new administrator, Brendan Guilfoyle, says club more sellable now, promises more mone

Brendan Guilfoyle on #pfc "The court papers show the club has become a lot more saleable in the last six months...

Guilfoyle: "...if I'm appointed, I'm confident we can find a buyer to secure long term future of this historic & important club.”

As a result, Pompey's day in court tomorrow has been suspended. Why not? Everyone else has been administrator there at one time or another, now it's P&A's turn... wonder if they still have Heaney's phone number?

Im confused why do they need a new administrator? and apart from the legal battle over the stadium i thought everything was wrapped up?

they don't really need a new administrator, but the guy who has a secured mortgage on the stadium (Chainrai) was due to be in court today to discuss valuations on the stadium and whether the current administrator (PKF) can sell it to the Supporters Trust for 2.5 million. Chainrai not keen on this because he had it valued at 17 million and his secured loan is for 12 million. So he's suggesting that the court should appoint a different administrator (Brendan) because he could do a better job at finding a buyer, rather than PKF who are seeming to be 100% Supporters Trust Only. He is offering to fund admin to end of season IF the court replace PKF with Brendan, "to find a better buyer"... hmm

Of course the additional spanner in the works today is the revelation that there are 'complexities' with the Trust bid, which seems to rely on a property developer (company called REL) providing them with the funds to buy the stadium (or some such deal), looks as if he (one Stuart Robinson) may have a touch of the Heaney's about him as he may have no money to perform this task. So, tomorrow in court PKF are asking for a 28-day delay of the hearing which means (1) they can clarify about this REL bloke, (2) the court don't get the chance to replace PKF with Brenda and (3) PKF get to rake in more fees (which btw seem to be coming straight from parachute payments from Pem League, which is why they've lasted so long in admin already).

Two things remain for the Trust - 1. the stadium but also 2. getting some money - they seem to be relying heavily on property developers helping them out (and that may be problematic for reasons given above) and also getting supporters to cough up the 1000 pounds they all pledged to give... not sure what the conversion rate of those is going to be...

Of course, Chainrai wants his money back and is happy to throw spanners in works in order to make it happen. There will be more twists and turns yet to come. I'm following it more closely than is healthy I'm sure... after our experience with admin I follow these things with morbid fascination. Especially now Brenda wants to get involved..

More problems for Pompey. The rumours are rife that the property developer buying the ground has already done a deal with Tesco for some of the surrounding land which raises the value of Fratton Park. The pledges are also not coming in very fast, only about 55% so far and down to a trickle