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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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rallyboy

rallyboy

Posted
Posted

proper experts will offer a better view of the accounts, though the interesting set will be the next ones if they are ever filed, the ones unclouded by the previous wagebill.

 

 

I like the way Trev casually sweeps the Kanu cluster bomb under the carpet with a swish of his Hush Puppy. :lol:

 

 

 

From what I can see they have in six months generated approx £900K from matchdays, with £96K going straight to the police.

 

And the administrator has run up £1.4M plus £250K in legal fees - so Birch's gravy train is running up £9K a day.

As we suspected, the first 8,000 through the door every fortnight are needed to cover his fees.

 

The Trust needs to find an additional 270 pledges a month to stand still.

Did we know the PP was down to £8M, some were reporting it at £11M?

So there isn't enough left to even cover the player agreements.

 

 

 

Who is the expensive 'Office holder' - £425K?...

 

 

Matchdays seem to be organised mainly for the benefit of Birch and the old bill.

 

 

I don't expect anything to happen today though I'm surprised that the Trust is still working on their bid and talking about possible delivery later this afternoon - that sounds slightly ominous, with a whiff of desperation.

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Ohio Saint

Ohio Saint

Posted
Posted
And there are posters on here who admit that they are incapable of reading posts comprising more than a few lines, so that is a benefit for them.

 

"Too long", they moan. " I didn't get past the first line" is another comment from these people, who apparently have the attention span of a goldfish.

 

Huh? What?

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Torres

Torres

Posted
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The trust is offering £2.65m to buy Fratton Park, and will need Mr Chainrai, who has a charge of around £18m over it, to reach a compromise over its value.

 

Well, we all knew that, but when writing it in the "newspaper", old Rory McKeown might as well have said

 

The trust is offering £2.65m to buy Fratton Park, but as Mr Chainrai will laugh that offer away, are reliant on a Euromillions rollover jackpot win if the bid is to be successful.
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hutch

hutch

Posted
Posted
Now how long to you think the deadline will now be increased, i am going for next friday before any decision is made on who (if anyone) will get the club.,

Chinny's getting the club. That's a no-brainer. But Birchy wants to hang onto it while there's still loadsamoney in the bank.

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Weston Super Saint

Weston Super Saint

Posted
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Interesting seeing the numbers in that report... it turns out that Pompey made more money from the sale of matchday programmes in that 6-month period than they did from the sale of season tickets :lol:

 

It's how they manage to create about £30m each and every season for the community.

 

I think Trev has made a mistake though as I don't see the £15m worth of sausage sales in his report. Perhaps they are listed separately in the Lindley catering end of year report ;)

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buctootim

buctootim

Posted
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Matchdays seem to be organised mainly for the benefit of Birch and the old bill.

 

LOl aint that the truth. The UK's system of administration of companies is bordering on corrupt. The people who are supposedly being protected - the creditors - get next to nothing whilst the administrator has no incentive to bring the fees beano to a conclusion.

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Shrek

Shrek

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Bad news for the Trust. Repairs and maintenance for the period 02/12 - 08/12 was £80,771. A little more than the £30k they've budgeted for. :(

 

Ah, but did that cover the period when they installed the toilets that were too small?

 

I guess also there's the possibility that the PST have struck a deal with Wilko's to supply knock down price pipe cleaner?

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Frank's cousin

Frank's cousin

Posted
Posted
Bad news for the Trust. Repairs and maintenance for the period 02/12 - 08/12 was £80,771. A little more than the £30k they've budgeted for. :(

 

Ahr but cost may have been 80k but how much has actually beeing paid for... even if we are generous and assume 25p in the pound then th Trusts estimated budget is more than adequate?;)

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Kingsbridge Saint

Kingsbridge Saint

Posted
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There is no way birch is going to declare a buyer whilst he is on $9K per day and there are funds to settle his fees. With Mr. Whippy in the background trying to prove funds he has another golden opportunity to postpone his 'deadline' for another fortnight at least. Why wouldn't he? No resolution this weekend. Move along, nothing to see here.

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The Kraken

The Kraken

Posted
Posted

Apparently the Trust's bid has not been submitted yet; it will be going in later this afternoon. So Tricky Trev can put his feet up for the weekend and start sifting through the bids from Monday morning; at an average wage of £299 per hour I'd suggest its not going to be a quick decision.

 

The conspiracy theorists are out in force on POL; its quite a sight to behold. Currently my favourite is that Al Fatty is just a pawn in Chainrai's bid to establish a value for Fortress Fatpipe well above the "market value" of £2M - £3M, so that Portpin will have some ammunition if/when he goes to court against a winning PST bid.

 

Oh, and that the Walsall manager is talking out of his arse, Pompey can attract players that others in the league can't not because they pay more but because its "sour grapes, Appy is just a better manager/negotiator than him, plus players want to come to PFC and PLAY not just pick up a pay packet." So there we have it :facepalm:

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Lord Duckhunter

Lord Duckhunter

Posted
Posted

Has this been posted yet, cant be arsed to trawl back through pages.

 

 

 

 

But, what a load of nonsense.

 

 

 

 

 

 

 

Brian Howard believes Pompey need to adopt a ‘big-club mentality’ if they are to succeed at Fratton Park this season.

 

“Not many will have seen it, but down in the tunnel after the Oldham game their lads were celebrating as if they had just won the FA Cup.

 

“Sheffield United would probably also make the claim, but I believe Pompey are the biggest club in this league.

 

“We have to get used to the fact that the mentality of most sides will be that coming to Fratton Park is their cup final. They will pull out all the stops to win.

 

 

http://www.portsmouthfc.co.uk/LatestNews/news/Howard-We-re-A-Scalp-3695.aspx

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Chez

Chez

Posted
Posted
There is no way birch is going to declare a buyer whilst he is on $9K per day and there are funds to settle his fees. With Mr. Whippy in the background trying to prove funds he has another golden opportunity to postpone his 'deadline' for another fortnight at least. Why wouldn't he? No resolution this weekend. Move along, nothing to see here.

 

I'm was confused, but perhaps your post explains everything. Chanrai put a bid in and it was accepted by the creditors yonks ago. Chanrai later pulled out. Chanrai back in, but this time Birch says bid unacceptable. Was the bid lower than before? Is that why it was not accepted. But `unacceptable' to who? Birch? How long can he stall for?

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The Kraken

The Kraken

Posted
Posted

From POL about PKF's report and squad finances....

 

I'll start the ball rolling!

 

The document states this

 

5.10 Players’ wages for the current squad are 83% lower than at the Appointment Date.

 

Can anyone accurately recall what the wage bill was when PKF were appointed?

I had a quick search on the April 2012, pkf document and can find no reference to the total players wage bill. I thought it was mentioned in the past that it was circa £10m pa.

 

 

Lets assume those figures to be correct (as of the date of PKF's report, 16th August 2012). So, at that time, Pompey's player wage bill was 83% lower than £10M, or £1.7Mpa. Working on a first team squad of 20 players, that's £1,634 per player per week. Hey, congratulations Pompey, that's around about the League 1 average!! well done!!

 

Oh, but hold on. As I said, PKF's report was published 16th August 2012; so it wouldn't include details of any players signed after that, would it? As of 16th August, Pompey had released all of the high wage earners and signed 10 first team players either on loan or on 1 month contracts (cut and paste from BBC online says that on 16th August itself Pompey signed Kieran Djilali, Mustapha Dumbuya, Jon Harley, Brian Howard, Izale McLeod, Lee Williamson, Simon Eastwood, Jack Compton, Luke Rodgers and Liam Walker). Do PKF's figures include those players? Well, lets assume they do.

 

However, since then (and after PKF's report cut off date of 16th August) Pompey have signed (either on loan or 1 month contract): Mikkel Andersen, Kevin Long, Josh Thompson, Paul Connolly, Jordan Obita, Connor Clifford, Gabor Gyepes, Jonny Ertl and Darel Russell. Some of those players didn't arrive at the club until (according to BBC) August 31st, so there's no way they can be included in PKF's report figures. Players that left Portsmouth since 16th August are Sam Magri (youth) and Kieran Djilali.

 

So in total another 9 players joined the club, with 2 leaving, so an additional 7 players. I'd say that puts a little bit of a dent in the theory that Pompey are paying average wages. £1.7M was paying for 10 incoming senior players, plus whatever is being paid to the youth teamers (in fairness, not a lot). It's fairly clear to see then that the addition of 7 extra players blows the budget well above the average of League 1 (£1.5k - £2K per player).

 

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The Kraken

The Kraken

Posted
Posted
@pn_Rory_McKeown: PKF says a decision on preferred bidder will be made 'depending on what bidders come back with', so it's not yet certain when that will be.

 

Hang on; you mean Tricky Trev is going to miss another deadline, and extend the process even further?

 

I'm genuinely shocked at this revelation.

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The Kraken

The Kraken

Posted
Posted

Wahay, the wage bill rises ever further.

 

Pompey have signed Slovakian defender Lubomir Michalik on a one-month deal.

 

Ľubomír Michalík (born 13 August 1983) is a Slovakian footballer who is nicknamed "The Giraffe" and who played most recently as a centre back for Carlisle United. He left the club in June 2012 after rejecting a new contract offer from the club.

One of the smallest wage bills in the division.........

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Frank's cousin

Frank's cousin

Posted
Posted
Wahay, the wage bill rises ever further.

 

 

One of the smallest wage bills in the division.........

 

Rejects small offer from Carlisle (smal because its within their means) an accepts a short term contract at Pompey.... will be because of their fans surely, as we all know short term contracts are cheaper than full time ones... :rolleyes:

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The Kraken

The Kraken

Posted
Posted
Rejects small offer from Carlisle (smal because its within their means) an accepts a short term contract at Pompey.... will be because of their fans surely' date=' as we all know short term contracts are cheaper than full time ones... :rolleyes:[/quote']

 

Its definitely because of the fans Frank; the club can't afford to pay competitive salaries, remember, they've got the lowest wage bill in the division....

 

If Chinny gets in and imposes his £1.5K per week player average there's going to be a few departures from Fortress Fatpipe. Until then it seems like the natives are happy for Tricky Trev to continue to rack up his own bills (nearly £2M now including legal fees) and have a wage bill which exceeds either of the bidding party's wage ceilings. Short term gain for long term financial turmoil; now where have I heard that before......

 

Good work Trevor.

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The Kraken

The Kraken

Posted
Posted
So many fans are loosely saying they want the club to be on an even footing.

 

You watch the natives go mental of chinny comes back and actually make them live within their means...

 

They would be calling in talksport by the shed load crying about how hard done by they are

 

They're not even loosely saying it, DD. Loads are saying that they don't want the Premier League, they don't want to throw money at it like the fackin scummahs are doing, they just want a financially stable club.

 

That sentiment will last around 1 or 2 games, after which the inevitable heavy defeats incurred under Chinny's financial austerity will finally hit home, and the clamour for "investment" will start up all over again.

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The Kraken

The Kraken

Posted
Posted
What happened? :lol:

 

Not entirely sure; but I think one of the posters there lifted a bit of info from the post I made on here about Pompey's wage budget perhaps not being as low as they keep claiming; he then posted similar info on there, Frattoniser put 2 and 2 together and made 458, and promptly banned him. After which he had a hissy fit, claimed it was me, said I told him he'd never find me on there and wasn't he great for finding me.

 

So some poor Pompey fan has had his account terminated because Frattoniser is a bit paranoid; that'll be confusing for the poor soul when he tries to log in next :lol::lol:

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hypochondriac

hypochondriac

Posted
Posted
I've actually got a login of my own now Hypo, so you're not at risk :toppa:

 

Ah fair enough. Well you know where I am if you need me.

 

You can do what you like on your scummer saintsweb site mate, but on there of course you are known as "Kraken" and you threw down the gauntlet by saying on there that I'd never find you - well now I have, you see we have people on there keeping an eye out too but no matter how hard you try, I promise you that you will
NEVER
find me on there. You're banned now mate!

 

Lol. Not you! Any chance of a PM with your real name?

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