Pompey sale to supporters agreed

I really hope this works for them.

 

Good news for them hope it all goes through with no troubles.

 

Hope it works out, but am pessimistic. How do they fund this properly without another chancer coming in?

 

Hopefully this will be the clean break they need from all the crooks that have ruined their club in the past. I don't understand people that say they want Pompey liquidated, that was so nearly us, and not a feeling I would wish on any football fan. Plus without Pompey a little bit of Saints would die too, not sure a rivalry with Bournemouth or Aldershot would be quite the same. Good luck guys!

 

I agree Fran, but I genuinely (pronounced 'Jen-you-eye-n-lee' for those reading the "americanisms" debate) hope they at least get a stable position for a few seasons. What they must not do is start to chase the history. They can not afford to "get Portsmouth back where it belongs" approach to this or they will sink again. Get some young players coming through with a couple of free/cheap hasbeens that know the lower leagues and keep the club alive, first and foremost.

Anyway, for a lad brought up with his football anorak years as the late 70's and 80's, this is how it always was Pompey floundering (!) in the lower leagues with Saints striving at the top .....

 

Good luck to Pompey supporters trust in taking control of their club and getting it back on a sound footing again, albeit in the lower leagues for some time. I think that they are going to need a heck of a lot of good luck, real revenue stream and no in-fighting between the various parties involved to succeed. But Saints and Hampshire do need a living & functioning Pompey - rivals yes but, in my book at least, bitter enemies no.

 

Good luck to them, but I just can't see them being able to get the cash together.

 

http://www.bbc.co.uk/sport/0/football/20338754

 

Don't they also have too have the FL agree to their deal?.

 

Seriously? That's how genuinely's pronounced in this country? I always pronounced it jen-you-in-lee, as in: Jen, you're in Lee-upon-Solent.

 

I was pulling legs...

 

At Last....Maybe they will get some stability!! Good luck the Pompey trust.......May you have some decent stability and a good lawyer to put Portbin in it's place. (In the garbage bin preferably)

 

Lee-on-the-Solent is the recognised address, some miss out the "the"

 

Looks like just a court case away from sealing a deal. Good luck blues guys and gals.

 

Maybe a pompey fan can answer this, but from what I've seen, the pledges from fans and "wealthy individuals" is still less than the immediate debts they have to pay up front when taking over the club. Those being, the administrators fees, the outstanding football debts to ex players & clubs and also any settlement they may reach to buy Fratton.

So where will the money come from to actually run the club, let alone start eating into the rest of the £70m debts??

The parachute payments will fund some of it, but it appears to me that unless the trust continually goes cap in hand to fans, then these "wealthy fans" (who just happen to be property developers) can easily sneak into upping their stake in the club a few months down the line and gain access to the surrounding land for far less than the market price.

Also find it astonishing that a senior member of the trust was already talking about the January transfer window. WHAT!?! first ****ing priority is paying your debts, not buying players.

It will sadly for Pompey fans, end in tears again and could be inside a year I predict. They should have pumped this money & effort into a phoenix club.

 

Ok, just seen that the Trust has already agreed to sell the land to one of the "wealthy investors".

errrr.... and how exactly did the Pompey trust members vote for that then??

 

While I see this as a good start, I still suspect this is the start of a long hard road. I genuinely hope they get through it but I don't think it's over by any means.

Vin

 

A Pompey is here my friend.

The money raised via fan pledges and the High net worth induviduals (HNWI) all together equates to over £4mil. This may not seem like much but remember there is £12mil worth of PP's to be grabbed. The admin fees have been accounted for by the £3.4 mil already in the clubs banks from season ticket sales and some of the PP's. The outstanding debts to ex players has been accounted for by the rest of the PP's although there will be some left over.

With regards to the £70mil of debt, remember that this is the second spell of administration. As such the debt has been diluted, then diluted again. Blame Chanrai, everyone else already is. The debt was £58 mil. My maths is iffy admittingly but the debts has been reduced to £400k for Chanrai's CVA and £500k or roundabouts for the PST CVA. Either way the creditors get more from us. It is a huge drop considering the first admin saw debts of £140mil, but that is how a CVA works and previous regimes have neglected this. We are the ones cleaning up the mess, and believe me we are doing it the best we can.

the PP's all togher add up to more than the sum needed to pay of outstanding bills, so don't worry there will be no begging from us. The whole idea is to run the club off its own income I.E not spending above what we make. If this is stuck to then again there will be no need for begging.

The HNWI have placed there cash with the knowledge that they won't be getting a wage, the won't see any financial return and even so they have to pay for tickets, unless you are part of the presidents club. They may be property developers but what you must remember and why there is so much faith in this, is that they are first and foremost Pompey fans. After what we have put up with for the last 4 years and on mroe than one occasion further into the past, we have faith that the same mistakes will not happen again.

The Property developer buying FP and the land was not what we hoped for initially, I admit to that. But after Portsmouth city council made it almost impossible for their loan to be allowed even though it was on very good terms for them it is the next best thing. again though it is on favourable terms for both parties. The rent will be a more than affordable fraction of chanrai's offer of £1mil a year rent with no buy back option as such. With this person there is a 5 year buy back option or longer if needed and being in conjunction with PCC and a developer means there is a chance of FP being developed. Obviously in the future but at least the option is there.

The transfer window is news to me. With all due respect i feel you may be reading into it too much. Nothing was mentioned of a money pot for Mr manager and even so it would be based on any profits the club makes of its own back. IMO i think it is more a case of not being the club that picks up the scraps of what other clubs don't want and being able to sign players on proper contracts not 1 month no contracts.

I agree with you that paying debts should be priority. It is along with stabalising the club although they both go hand in hand. What you must remember is that a CVA has set dates for payments. Conveniently when Chanrai was the owner the first payment was not for 2 years, so he payed nothing. The PST plan on being in it for the long haul and as I've said before the PP will finally be used for what they are meant to be used for in the first place. Paying off debts, not lining the pockets of parasitic owners.

You have nothing to worry about. The only tears from Pompey fans will be tears of joy and pride when we finally end what has arguably been the darkest part of our proud clubs history. Certainly the worst in my lifetime.

Hope this helps.

P.S We can;t have pumped any money into a phoenix club because it isn't up to the fans whether to liquidate or not. and even then Chanrai would not have let it happen.

 

That seems a pretty good statement of the facts as they are known at present.