American billionaire bids to take over Pompey

It's hard not to be wary about this - as Dev, PL, Woops etc have said it is a case of having had our fingers very burned previously. It does sound like the guy has a genuine number of highly decent bones in his body. I think the romantic in me loves the fact we are the biggest fans owned club in the country but realism says that to progress we need serious investment. I love Fratton Park but would not deny it is antiquated and in need of a lot improvement. I guess we'll see. Sat with cautious optimism.

More importantly lets keep our focus on getting out of Div 2. It's a tougher league than I think a lot of us realised and trying hard to play our way out of it has on occasion been our downfall, and that is not to say others don't attempt to play their way out too, we need a tougher edge to see us over the line and recent results in the main are showing signs of that being there.

 

I would oppose a new stadium. I would want Fratton Park renovated, enlarged and modernized. Call me sentamental but I like to keep in touch with history and would be dissapointed if we lost the only home the club has ever had.

 

In that case, you might have to ground share with...

 

What I have heard Wooperts is that Michael Eisner heard Mark Catlin talking on a radio programme last summer when he was in the USA searching out a preseason tour and got in touch. He has been looking to buy a club in England for 3 or 4 years, he was looking at Reading not long ago but that didn't go anywhere. It's his investment company Tornante that will be buying if the shareholders agree, but although he likes football it's his son Eric who is the passionate English football lover, and he is the son who works for the family investment company.

It isn't his first foray into sports, apparently the film The Mighty Ducks was based on a hockey team he invested in through Disney when he was CEO. That's quite an interesting story in itself.

Why are the Americans interested in English football? It all comes down to the media money - £8bn into the Prem, and they'd all like a piece of it!

He has to convince the PST Community Shareholders, if he can't do that then it's a no-goer.

 

Mick Williams will be on Radio Solent at about 2.30 today to chat about what's going on, from what he knows. Could be worth a listen.

 

The only location I can think of would be where HMS Nelson is. If the MOD sell the land at a cheap rate - they should as the MOD is funded by the taxpayer, and the city has given the MOD everything in terms of human resources as well as the land, that the city could well utilise for its own benefit, it would be an excellent location to build a new stadium. One question ... does the MOD really need HMS Nelson? What exactly is it being used for? Better to transfer staff over to Collingwood, shut Nelson and let the city have that land.

 

I might be wrong but I think HMS Nelson is already shut. Pretty sure I've read that somewhere. Pompey folk would obviously know better. Last time I went past the place they were still sending lads up the mast to sit on the button.!

Wasn't there a site earmarked by the gun-running owners, at one point.?

 

There is a lot more land around Fratton Park than people realise - PCC have zoned it for regeneration with an enhanced/enlarged stadium as the trigger. It's in the Portsmouth City plan.

 

I can certainly understand the wariness. That said, Eisner's about as blue chip as you can get in terms of wealth; his money is real, it's stable, and he's unlikely to do anything too crazy. Unless you're certain that the Trust can take you where you want to go, you're unlikely to find a better option as owner.

 

Although there are some who aren't eager to sell out, there are others who paid up to save the club and it's job done. The biggest worry does seem to be whether he is in this for the long term and if not who is he likely to sell on to, or even 3 owners down the line. Having been so close to oblivion they want assurances that the club will be owned and run properly. It's a wise precaution, but Michael Eisner promotes working in partnership so it isn't beyond the realms of possibility, and having been made aware of the Portsmouth story, that some form of role for the fans will be built into the deal. We shall see.

 

I'd be surprised if he was looking to buy and sell in the medium term. Your club is an enticing prospect owing to its fanbase and low standing, but it's also going to require some serious infrastructure investment at some point in the not too distant future, whether it's a wholly new stadium or a serious overhaul of Fratton. That, ultimately, means that it won't be profitable to turn around until/unless you're established in the Premier League. And while that's a bit of a crapshoot (the prices of PL teams are so high that most of the individuals or organizations that can afford it are at least a little sketchy) it'd be the same prospect with the Trust at that point.

 

Thanks for the link Woop - interesting stuff about the city's potential and the reality of being an island city. Schad your point is a good one - I think the vast majority of us would be very happy making it to the Championship in a few years and although it pains me to say it we can't do it without some serious financial help.

 

Given that this would presumably be a 'side interest' to Eisner is being a billionaire sufficient?? If he is worth one billion and dedicates 10% of his wealth to Pompey
ie 100 million by the time he has bought the shares there would be little left for a new stadium.

If on the other hand he is worth 10 billion --- well know you are talking!!!

 

From google it appears he is worth nearer to 1.1billion. Sorry - not enough konkers in my opinion!

 

He's saying the right things for me. No move from Fratton Park but renovation plans, a "heritage board" to ensure the clubs history is respected, and a plan for progression back to the top leagues base on building up the scouting and building through the academy with a sustainable business plan avoiding unmanageable debt. I like that.

The News have a follow up article: http://www.portsmouth.co.uk/sport/football/pompey/eisner-no-leverage-debt-in-my-pompey-bid-1-7911475 which goes into a bit more detail about Eisner's position on club debt

"I don’t like debt. Debt can be used efficiently in public companies, which we did at Disney, but being highly leveraged in a risky business like football is really dumb – which is not to say some reasonable debt at some later point is impossible.

‘I would never do anything to put the institution at risk. You don’t make one giant mistake and you don’t hire one way too expensive player, so if it doesn’t work watch the whole thing going down the drain.

‘You don’t do anything which risks the very nature of the institution." ​

 

Must say it sounds very promising. Particular the parts about debt, the revamp of Fratton and the tempering of expectations saying there's no quick fix.

As always though, actions speak louder than words. If it happens (which looking very likely) then genuinely hope it works out for you.

One thing that made me laugh was describing the experience at the Emirates as 'intense'. Can't wait to see how he describes the first derby he sees