In many way it is similar to what Lowe did all those years ago. He actually made us a public company to try and draw funds in. Well as we know he didn't succeed. Surely if you put up the money to help buy the club you will have some standing, surely, in who is brought in to run the thing much the same as we did as share holders? After all it was the share holders that got rid of him eventually. I cannot see people just handing, what is it, a £1000 a head and not actually have a say in who runs the club?
To be honest I think people are just getting themselves in a state over nothing with this. People hear property developer and it instantly conjures up images of wrecking balls, and shiny new Tesco stores, gives the WUMs on our side something to focus on ;-). Nothing can happen to Fratton Park anyway can it? I'm sure I've read that the site is protected by the council. For the property developer it's a sound investment, he gets a rent off the club and can potentially sell it to the trust further down the line, or if it all goes tits up he's got the land.
Think what my mate is most worried about is how much The Presidents own, are you sure on your figures?. He was told they could end up owning around 51% of the shares. So basically the trust would have no say. Also The Presidents can choose to have another President join them, giving them further hold over Pompey. He is also unclear on what happens to The Presidents money?, are they like the fans just writing it off? Or can they take the profits and reclaim their money in other ways?.
Dont you just love these generous benefactor property devolopers? Brings a tear to my eye. Life long football fan, just interested in saving the club and doing what's best for it. Beefy's mate is deluded. There is no way the Blue Few will let anyone pull the wool over their eyes, after all they saw right through Peter Storrie-Teller from day one
Just as i thought Nobody knows who and more importantly, what is going to happen, and that includes with their money.
Yep the presidents have publicaly stated that they will not be earning a wage and that the money they put it is not a loan, they are as you put "it writing it off". You mate who is worried that the presidents may take 51%. That is dependent on how many £100 shares are converted to £1000. As said earlier, all the figures drawn up by the PST an their financial advisers are drawn up on 75-80% of pledges being converted. There is nothing to stop more or less being fulfilled, but the general consensus of people i know and that are well informed PST members is that the conversion rate will be higher than anticipated. I personally know 6 people who have handed in their final £900 already. "Nobody knows who and more importantly, what is going to happen, and that includes with their money". Wrong Possum. People now where the money is going, straight to the club. For the first time in a while, this is a no strings attached investment in the club by the fans for the fans. No one is expecting their money back. When the idea of the share was first put about, it was confirmed that fans cannot/must not expect any financial gain, and that includes the presidents/HNWI. To answer a popular question, the money raised by the fans is not going to be used in running the club. The entire idea of the PST future club is for the club to run of its own back, spending only what it makes and nothing more. Any profits the club makes will be re-invested back into the club. No need to come hands cupped to us fans again. "I heard the president in Ali Al Faraj". Shockingly enough Al faraj is a real person and is arguably a victim of Chanrai's. P.S Ducky seeing as you know nothing about the PST bid, or how it works, may I suggest you abstain from making snide comments about the near future.
My mate says he's going to wait until the questions asked by the portsmouth vital forum are answered. There are a hell of alot of uncertain pompey fans.
I think our lowest ebb in those pre Redknapp days, was about 6500 for a league match, Choccy. What some fans refer to, concerning big support, is the time we were in the old 4th div, we did have some big crowds back then and about 23000 showed up to watch us play Aldershot one Saturday. We lost needless to say.
I was wondering about the PST business plan, The trust budgeted for a 30,000 total in the 1st rounds of the FA cup, League Cup and JPT and in reality only got 18,857. The trust continue vastly overestimated the wonderful Pompey support . 9,955 and dropping like a stone.They predicted a 19% growth in revenues between the 2013/14 & 2014/15 seasons, based on what????
I guess there in lies the danger of being a little bit too close emotionally to the situation. You would really hope that they have someone looking at their plan with a non-Pompey fan hat on just to get some realism to the situation.
I have to shake my head when I see stuff written like "The property developer is a Football/Pompey fan". He may well be, but he's in it for the money, for a profit and thats his motivation. I'm rather amazed that Pompey fans have made very little out of the fact that the PST committee have agreed all this without a vote of their members. If they don't start off being fully accountable to the fans, then I guarantee it will only get worse as time goes on and egos grow and mistakes are covered up etc etc. I'd feel exactly the same if it was a Saints trust buying SFC. I'd only put my money in if I was 100% convinced it was a fully democratic and accountable body with no external influences from "money men".
How can the fans decide anything if some have bought a bit of the £1000 share. Does one share equal 1000 votes? Or are they going to elect a representative?
The property developer isn't actually a Pompey fan - and there is something in it for him. You are absolutely correct in what you say about the redevlopment. There is a covenant on the ground, including the surrounding ground (which is why Gaydamak couldn't do anything with it except hold it as ransom to irritate his father's arch enemy Chanrai et al). The surrounding ground can only be redeveloped if and when the stadium is redeveloped. The property developer will get more than his money back by the redevelopment and sale back to the club. This is, in part, why the PST have taken so long to come up with their bid and prospectus as they were negotiating with developers to get the contract which best suits the purposes of the club. In the first instance we will be paying £100k pa rent and then the stadium has to be returned to the club within 5 years. The detailed prospectus will contain that information.
Remind me again WHY Pompey have to redevelop the stadium??? Certainly don't need a bigger one!!! The amount of money earned from corporate seating and boxes, is in reality, pretty low these days compared to the bulk of the income being TV money, followed by regular ticket sales. So, why redevelop Fratton when its just going to build up more debt? Or is that the plan, redevelop, not be able to pay off the debt, go into admin, do another sob-story, wipe off the debts. It's worked twice before I guess.
Don't know where you got that from ducky. The PST have budgeted for between 11500 and 13000 for the first season rising to a minimum of 1300o by the third season. Considering we are averaging over 12000 at the mo, there is no problem. We ain't even taken over yet. I fully expect the gates to rise when they finally do take over. You only have to look at the Bournemouth game at the start of the season when 5000 tickets were sold in three days, to realise there is no reason why not. Gates have dropped since then . the fact that this has now been drawn out over 9 months leading into 10 is not gonna help. I ask you to be patient and like us PFC fans, wait and see. "How can the fans decide anything if some have bought a bit of the £1000 share. Does one share equal 1000 votes? Or are they going to elect a representative"? One share 1 vote. One share per person only and that includes the presidents/HNWI. "I'm rather amazed that Pompey fans have made very little out of the fact that the PST committee have agreed all this without a vote of their members. If they don't start off being fully accountable to the fans, then I guarantee it will only get worse as time goes on and egos grow and mistakes are covered up etc etc." This agreement was not plucked out of thin air, it has been on going for a long time. The agreement was reached by members of the HNWI, the PST bid team and its financial assistants. Believe me they have done their homework and got a more than fair deal. Considering Chanrai's annual rent would have been £1mil a year, 100k is more than good. "So, why redevelop Fratton when its just going to build up more debt? Or is that the plan, redevelop, not be able to pay off the debt, go into admin, do another sob-story, wipe off the debts. It's worked twice before I guess." Oh FFS. Any redevelopment of Fratton isn't gonna be straight away. The plan is to make the club self sustaining, running of the money it makes, not spending a single penny above what it makes. Remember we are bound in terms of wages by 2 things. The EPP in which wages must not exceed 65% of turnover (which by the way we are still within the parameters just to quash any speculation), and by what the club makes. The club can only spend what it makes. Every Pompey fan knows, there isn't a mega bucks benefactor about to splash 70 cazillion on the club. It is actually refreshing to know that a club will be ran like that. Even better when it is your own.
After the last 4 years, of course we have worries. If any group of fans has the right to be suspicious and afraid of the future for their club it is us. But I trust the Trust. They are Pompey fans, like me, like the lad next to me and like the HNWI. My biggest fear is that we will relive the nightmare but this time it will be our own fans. But after fighting so hard for this club, fighting against the people who are meant to have the financial and legal power, fighting against these vile humans who saw fit to steal from small creditors and charities for their own gain, I have a new hope for this club. For once, the fans are in a real position of power. Just because one fan is richer than the other does not mean they will abuse that . If I had that sort of financial prowess, I would be honored to give up 6 figures of my cash. And having met one of the HNWI, I can tell for sure that they are to.
Still can't help but think Pompey have got off lightly (and my view would be the same if the circumstances had happened at Carlisle or Lincoln City).
The PST as a group of fans got of their backsides and set about saving their club. If they hadn't then there would be no Pompey. For that they deserve enormous credit. It is right to ask questions to clarify issues but not to add fuel to those who seek to derail the PST's efforts.
