For it looks like the Farnborough Supporters Trust (FaST) are looking to become owners of Farnborough FC. http://www.farnboroughtrust.org.uk/cms/ This could be a vital opportunity for sharing of best practice in supporter trust-based club ownership between Hampshire's two best teams and an engaging two-way dialogue could be beneficial for all parties.
Hats off to them, but one has to reflect that there are a million miles between running he budget and finances of a side at that level than there is of running a club in League One that would prefer to be knocking on the door of the Championship rather than staving off the wolves of League Two. Whether the PST has a long term future as a serious owner of Pompey remains to be seen, but in the short term I feel we have to 'hold our noses' and let Chainrai do what he has to do to get the club back into some sense of liquidity.
Pompey really is between the devil and the deep blue sea. The PST have made a stirling effort to try and save the club, and the fans have really rallied round. But the PST were late off the starters block, it took them 4 months following CSI going into admin to get the pre-share offer launched, and now in July, they still have not got their prospectus published. They now have to get the pledges turned into share-purchases to actually raise the necessary funds, and that will take time as well, the pledgees have to read and agree the PST plans proposed in the prospectus. It hasn't helped that some mixed messages have come out through the trust either. Chanrai wants his money back. That is all. However he has continued to plough the odd £100k into the club to keep it going so his "loan" is increasing exponentially, but he has got a CVA agreed. I can't see the PST having the funds available to underwrite the peaks and troughs in the club's cashflows and nor can I see Chanrai agreeing to a reduced payoff from the trust/fans. From what I can gather Supporters Direct's aim is to get fan representation on the boards of the clubs rather than supporter buy-outs of clubs so they are coming from a different direction with their agenda, and therefore, their advice. If either of them purchase the club I see League 2 beckoning. We haven't hit rock bottom yet as far as I can see. (By the way - Chanrai being the devil, not the PST)
