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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Colinjb

Colinjb

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Anyone just a little concerned that their squad just is not competitive and is likely to ruin the integrity of the competition?

 

No?

 

I thought not!

 

Which considering their wage bill........ ha!

 

1/18th of the wage bill they had last year...... What did it work out as again? How would it compare with say..... Yeovil?

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Thedelldays

Thedelldays

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I'm sure it'll be exactly the same rubbish in The News after the Walsall game, and after the Oldham game. "Smash and grab, didn't deserve it, it's their cup final, Pompey dominated, keeper had the game of his life"

 

It's actually f()cking frightening how deluded they are.

 

And the ref was in awe as he has never reffed such a massive club

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hypochondriac

hypochondriac

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I'm sure it'll be exactly the same rubbish in The News after the Walsall game, and after the Oldham game. "Smash and grab, didn't deserve it, it's their cup final, Pompey dominated, keeper had the game of his life"

 

It's actually f()cking frightening how deluded they are.

 

"we saw the lads celebrating in the tunnel after the game as if they had just won the league." FAF.

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Lazlo78

Lazlo78

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As usual, the Pompey fan I know is streets ahead. He wanted liquidation already in January and he has put a question mark over Appy's quality. He desperately wants the trust to succeed but acknowledges that they are underfunded.

 

He's probably in a minority of sensible Pompey fans though :-/

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Weston Super Saint

Weston Super Saint

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Pol.....

PompeyMart

"

some players need to decide whether they want to play for this club or not, if they do then put a dam sight more effort in than you are, if not stick the kids in at least they will try for 90 mins and not only when 2-0 down or in the last 5 min. " ;)

 

Jeesh!

 

Anyone would think they're just there for the money ;)

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rallyboy

rallyboy

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play the kids!, they screamed from the deserted Fatpipe End

And down on the hallowed turf, goalscorer and pompey reject Ritchie could only gasp at the irony of the lockable stable door concept being suggested - long after the horse has not only bolted, but lived a long and happy life, sired grandchildren, retired to the country, passed away peacefully, and been consumed by Harry's thieving dog, with a side order of Winalot.

 

 

 

 

Cotterill was a legend for keeping up the most expensive squad in the division and then launching them to the exit, Avram was even more of a legend for relegating one of the highest paid squads in the division.

 

So I see no reason why Appy can't confirm his own legendary hero status by matching our record of getting out of two divisions in consecutive seasons.

Back-to-back Appy!

 

Meanwhile, where are we on these players now?

They were heroes for going on a free holiday, and even more heroic for snubbing less money at bigger clubs.

 

But tonight we've established that many were rejected from Fleetwood to Barnet for good reasons, so have one or two of them slipped across the border from HeroTown to VillainVille yet?

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beatlesaint

beatlesaint

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Can the media wake up, smell the coffee and cut the crap with this "amazing support" b/s they dish up EVERYTIME poopey are mentioned ?

12,000 today for a (fairly) local derby, in ideal weather conditions for watching football, and that includes probably 2000 Swindon fans.

 

Like everything else connected with that sorry excuse for a football club its all lies, smoke screens, and a trick of the light :-)

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Colinjb

Colinjb

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Posted (edited)
Can the media wake up, smell the coffee and cut the crap with this "amazing support" b/s they dish up EVERYTIME poopey are mentioned ?

12,000 today for a (fairly) local derby, in ideal weather conditions for watching football, and that includes probably 2000 Swindon fans.

 

Like everything else connected with that sorry excuse for a football club its all lies, smoke screens, and a trick of the light :-)

 

It's probably the closest we are going to get for a like for like comparison of fixtures.

 

Swindon at home, when we were on -10 in the league and needing to get going. 22,000 attended.

 

Skates at home, on the verge of -10 but not yet and looking to get going. 12,000 attended.

 

Assume that the away end was the same for both, 2000.... Then when the chips are down and it's just about the core of the fanbase needing to get behind their team when they need it..... we have double the equivalent fanbase.

 

Is this too simplistic a calculation? Probably. But once again the overbaring evidence is there that there is not that many of them.

Edited by Colinjb
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BigShadow

BigShadow

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It's probably the closest we are going to get for a like for like comparison of fixtures.

 

Swindon at home, when we were on -10 in the league and needing to get going. 22,000 attended.

 

Skates at home, on the verge of -10 but not yet and looking to get going. 12,000 attended.

 

Assume that the away end was the same for both, 2000.... Then when the chips are down and it's just about the core of the fanbase needing to get behind their team when they need it..... we have double the equivalent fanbase.

 

Is this too simplistic a calculation? Probably. But once again the overbaring evidence is there that there is not that many of them.

 

Schoolboy error there......down in pompeyland - it is not the attendance that matters, but the number of empty seats. Therefore, using your example above, their support is bestest because they only had 8,000 empty seats compared to our 10,000.

 

Errrrrrr......simples, innit mush. :scared:

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Saint Lindford

Saint Lindford

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Portpin have issued the following statement regarding their bid:

 

Portpin have today revised their bid in response to the questions and comments received from The Football League regarding details of its bid proposal submitted last week, specifically regarding the level of debt being carried forward.

 

It is a Portpin board level decision to address and incorporate the suggestions from The Football League to ensure that the club is well-capitalised and financially solvent from day one following acquisition, and remains so throughout the business plan forecast period over the next five years. This is the long-term vision of Portpin ownership, which it is prepared to support and fund.

 

Balram Chainrai announced "We are committed to own Portsmouth Football Club and build it back up to its rightful place. This does not mean spending lavishly on short-term player contracts as the former owners did. It means stabilising the core business and rebuilding the club and its real estate so that it can trade on a financially secure footing.”

 

He went on to say "Do not judge us on our words but on our actions. Portpin is looking to take decisive steps to deliver this objective. We are offering a multi-million pound, multi-year overdraft facility to The Football League to give the business a cash flow safety net and ensure all unsecured and football creditors are paid. We are prepared to convert a materially significant amount of Portpin’s debt into equity to further capitalise the new company. We are committed to ensuring that not one penny of the parachute payments will be taken out of the club but will be used to fund the business going forwards. We strongly believe that Fratton Park and the Club must stay together as one entity. There will be no cash drain for lease payments to a third party for the use of Fratton Park’’.

 

‘’As the senior secured creditor of Portsmouth Football Club (2010) Limited in administration as well as one of the largest creditors to the club, we categorically do not want to see the business stripped of its principal asset to fund the acquisition or the day to day running of the business. This will only end in tears. Sadly it has happened before to Portsmouth under previous ownerships. Four years on and we are still trying to unravel that tangled inherited real estate web and enable the club to own all of the pieces and put them back together again. This is the reason why we have been steadfast in saying no to all of the property developers and distressed capital funds who have approached us about buying the Portpin loan. Look at what happened to Crystal Palace when their ground was stripped from the club – or Coventry City. We have always stated that the only way forward for any club is to keep the stadium and the club under common ownership. Anything short of that would be fiscal suicide for the business’’.

 

‘’We believe Portsmouth is a fantastic football club with the most passionate supporters in the land (aggghhhhhhh) and it deserves to be restored to its former glories. We want to work together with the supporters to make sure that Portsmouth never falls back into the financial black-hole of administration again. Our aim and commitment of capital is to put in place the foundations which are so desperately needed at our club. Our main objectives are:

 

· To make the club run on a sound financial base with realistic targets and objectives

 

· To ensure the Club is never put in this position again.

 

· To maintain ownership and rebuild the infrastructure of the club based on strong financial foundations – including our own training ground, a stadium fit for the future, and an academy to furnish our club with home-grown talent.

 

· To restore the community pride in Portsmouth Football Club – locally and nationally (Good luck with that!!)

 

Balram Chainrai concluded by saying, "Portpin aims to successfully finalise its discussions with The Football League and PKF without delay so that the club can exit administration and move forwards as soon as possible. Under our ownership we intend to demonstrate the same heartfelt passion and support for the club that has been shown throughout by Michael Appleton, the players, the employees and all of the loyal fans of Portsmouth FC.’’

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Colinjb

Colinjb

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Posted
Schoolboy error there......down in pompeyland - it is not the attendance that matters, but the number of empty seats. Therefore, using your example above, their support is bestest because they only had 8,000 empty seats compared to our 10,000.

 

Errrrrrr......simples, innit mush. :scared:

 

Of course, my mistake to use logic. Thankyou for the correction. :)

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trousers

trousers

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@pn_neil_allen: Here is tonight's Portpin statement which was initially released to Express FM. http://t.co/PNSMflB7 #Pompey

 

Portpin have announced new plans for Pompey, should they take control of the club once again.

 

 

The Blues’ former owners, led by Balram Chainrai, have vowed to ‘convert a significant amount of Portpin’s debt into equity to further capitalise the new company’ for Pompey.

 

And they have also ensure all of the club’s unsecured football creditors will be paid.

 

Their full statement read: ‘Portpin have today revised their bid in response to the questions and comments received from The Football League regarding details of its bid proposal submitted last week, specifically regarding the level of debt being carried forward.

 

‘It is a Portpin board level decision to address and incorporate the suggestions from The Football League to ensure that the club is well-capitalised and financially solvent from day one following acquisition, and remains so throughout the business plan forecast period over the next five years. This is the long-term vision of Portpin ownership, which it is prepared to support and fund.

 

‘Balram Chainrai announced “We are committed to own Portsmouth Football Club and build it back up to its rightful place. This does not mean spending lavishly on short-term player contracts as the former owners did. It means stabilising the core business and rebuilding the club and its real estate so that it can trade on a financially secure footing.”

 

‘He went on to say “Do not judge us on our words but on our actions. Portpin is looking to take decisive steps to deliver this objective. We are offering a multi-million pound, multi-year overdraft facility to The Football League to give the business a cash flow safety net and ensure all unsecured and football creditors are paid. We are prepared to convert a materially significant amount of Portpin’s debt into equity to further capitalise the new company. We are committed to ensuring that not one penny of the parachute payments will be taken out of the club but will be used to fund the business going forwards. We strongly believe that Fratton Park and the Club must stay together as one entity. There will be no cash drain for lease payments to a third party for the use of Fratton Park.

 

“As the senior secured creditor of Portsmouth Football Club (2010) Limited in administration as well as one of the largest creditors to the club, we categorically do not want to see the business stripped of its principal asset to fund the acquisition or the day to day running of the business. This will only end in tears. Sadly it has happened before to Portsmouth under previous ownerships. Four years on and we are still trying to unravel that tangled inherited real estate web and enable the club to own all of the pieces and put them back together again. This is the reason why we have been steadfast in saying no to all of the property developers and distressed capital funds who have approached us about buying the Portpin loan. Look at what happened to Crystal Palace when their ground was stripped from the club – or Coventry City. We have always stated that the only way forward for any club is to keep the stadium and the club under common ownership. Anything short of that would be fiscal suicide for the business.

 

“We believe Portsmouth is a fantastic football club with the most passionate supporters in the land and it deserves to be restored to its former glories. We want to work together with the supporters to make sure that Portsmouth never falls back into the financial black-hole of administration again. Our aim and commitment of capital is to put in place the foundations which are so desperately needed at our club. Our main objectives are:

 

- To make the club run on a sound financial base with realistic targets and objectives

 

- To ensure the Club is never put in this position again.

 

- To maintain ownership and rebuild the infrastructure of the club based on strong financial foundations – including our own training ground, a stadium fit for the future, and an academy to furnish our club with home-grown talent.

 

- To restore the community pride in Portsmouth Football Club – locally and nationally.”

 

‘Chainrai concluded by saying: “Portpin aims to successfully finalise its discussions with The Football League and PKF without delay so that the club can exit administration and move forwards as soon as possible. Under our ownership we intend to demonstrate the same heartfelt passion and support for the club that has been shown throughout by Michael Appleton, the players, the employees and all of the loyal fans of Portsmouth FC”.’

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Colinjb

Colinjb

Posted
Posted (edited)

Balram Chainrai announced "We are committed to own Portsmouth Football Club and build it back up to its rightful place. This does not mean spending lavishly on short-term player contracts as the former owners did. It means stabilising the core business and rebuilding the club and its real estate so that it can trade on a financially secure footing.”

 

The same status as Preston North End then.

 

Core fanbase of about 10k? Check

Proud History? Check

Could only compete in recent years by unsustainably overspending? Well, we'll let Preston off that one.

Edited by Colinjb
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