Today the Trust have vowed to reveal the details behind their bid for the club. The conferance is happening now.
Details revealed so far: * Iain McInnes would become Club Chairmen if the bid were successful * The Trust plan to buy Fratton Park with a medium-term loan preferably from the City Council * All four high net worth individuals in the Trust (including McInnes) have donated six figure sums to the bid. * The Trust have offered Chainrai and Portpin £2.75million for Fratton Park.
I've had no trouble with that. The News if working fine for me. I cant actually hear the video though so I'm relying on the messages.
More details: * McInnes has stressed that the right bid for the Club and the Community has to be run on business grounds. * Appleton will remain as manager * A Chief Executive will be appointed along with an Executive Board.
I agree that Chainrai wont be happy to accept that, but hopefully that could be discussed and a compromise reached. McInnes has said that Chainrai wants to take investment out of the club while the Trust want to put investmen in.
On this note McInnes has just called on Chainrai to meet with the Trust and work together for the "good of the club"
The Trust apparently offered their bid for Fratton Park two months ago and recieved an acknowledgement from Portpin but its gotten no further.
The Trust have added that they have recieved a lot of scepticism for their bid from the fans but think that they will gain a greater deal of support when the fans realise they want to be in it for the long hall and are a real option. McInnes said: 'Plenty of people will come out of the woodwork and back the Trust if they believe we are real"
From what I could see it was their poor communications that was a big problem for them. The ones who had pledged had no idea what was going on and was making them edgy.
Details: * The Trust is offered 4p in the pound for a CVA * The Trust say they can offer more because they are not going to roll the old debt over into the new club * If Pompey return to the Premier League in the next ten years more money will be made available to pay current creditors.
The Trust want the Council involved in the bid and (I think its) Penny Mordaunt, who's in on the conferance, says the investment required would be less than that spent on the Pyramids in Southsea and would be beneficial to the city.
Asked about Plan-B and the Pheonix Club the Trust confirm that plans are in place if needs be but time has beaten them for this season so if Pompey go out of business then there is no way any football would be played by any Pheonix Club this season.
Conferance over. Altogether now: * Iain McInnes would become Club Chairmen if the bid were successful * The Trust plan to buy Fratton Park with a medium-term loan preferably from the City Council * All four high net worth individuals in the Trust (including McInnes) have donated six figure sums to the bid. * The Trust have offered Chainrai and Portpin £2.75million for Fratton Park. * McInnes has stressed that the right bid for the Club and the Community has to be run on business grounds. * Appleton will remain as manager * A Chief Executive will be appointed along with an Executive Board. * Pledges from Fans to the Trusts bid total £3million. * The Trust has offered 4p in the pound for a CVA * The Trust say they can offer more because they are not going to roll the old debt over into the new club * If Pompey return to the Premier League in the next ten years more money will be made available to pay current creditors. I may have missed some things. The News will update soon.
I hope they are successful - this could be a new dawn for football clubs although the problems will be huge and not to be underestimated.
Link to the initial write up in the News: http://www.portsmouth.co.uk/sport/p...s-trust-reveal-its-bid-for-the-club-1-4122150 I hope their successful too because it would be nice to have someone with some emotional interest in the club running it for a change. We've had too many people use it as some sort of tax haven revently.
