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Pompey Takeover Saga


Fitzhugh Fella

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... Clear that best guess is that if the Trsust do takeover, even if teh 'book' is not thrown at them they will satrt L2 with -10 points with debt: the council loan, the football creditors and possibly to some of the HNWIs if not all is converted to equity - the key point for them will be ensuring that the TOTAL they owe is less than 5mil - which was stipulated by the FL as the max that could be carried forward into the new club - I guess though that they could in theory go 5mil + the council loan as that would not be carried over debt, but new debt

 

I would speculate they will owe inexcess of 4-5 mil when starting out...in L2 ...on -10

 

Now that is a HUGE burden in that league and would mean very stricht spending controls - its not about gates being higher than L2 average, even if they achieve that, as their debt burden would counter any advnatge that gave - they will struggle in L2 if they try and keep finances in order.... BetterIMH|O had they chosen the Pheonix route

Edited by Frank's cousin
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Just a couple of snippets I noticed on the FAQ from the Community Pompey website... http://www.communitypompey.co.uk/faqs/

 

A loan to the Trust was approved in principle by Portsmouth City Council in August, but the strings attached made this ultimately an impractical solution.

 

So what has changed to make this a practical solution now?

 

The business model assumes League 1 football for the next five years. In practical terms relegation does not have a huge impact on external revenues (eg TV money) and a successful side in League 2 would, more than likely attract larger gates than a struggling League 1 club.

 

Yes, good luck with that. And what about a struggling or mediocre League 2 side?

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Just a couple of snippets I noticed on the FAQ from the Community Pompey website... http://www.communitypompey.co.uk/faqs/

 

A loan to the Trust was approved in principle by Portsmouth City Council in August, but the strings attached made this ultimately an impractical solution.

 

So what has changed to make this a practical solution now?

 

Does it need to be practical? What makes you think that just because it is impractical that they will not go ahead with it?

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Just a couple of snippets I noticed on the FAQ from the Community Pompey website... http://www.communitypompey.co.uk/faqs/

 

A loan to the Trust was approved in principle by Portsmouth City Council in August, but the strings attached made this ultimately an impractical solution.

 

So what has changed to make this a practical solution now?

 

The business model assumes League 1 football for the next five years. In practical terms relegation does not have a huge impact on external revenues (eg TV money) and a successful side in League 2 would, more than likely attract larger gates than a struggling League 1 club.

 

Yes, good luck with that. And what about a struggling or mediocre League 2 side?

 

That, in a nutshell, sums up the trust and pompey in general.

 

The strings attached made it impractical (i.e. the PL would never agree or even discuss parachute payments being paid direct to the council which is one of the terms of the loan). Nothing has changed amongst those strings - they are still attached.

 

But no, the pst decide to have a different view. The whole world will be rosier because they'll get relegated to a lower league (I can hear the cries of 'we'll walk this league' in the pst meetings now!) and magically they'll get even better gates because they're the bestest after all. Let's just totally ignore that they'll be a struggling L2 side.

 

Never let the facts get in the way though.... :facepalm:

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That, in a nutshell, sums up the trust and pompey in general.

 

The strings attached made it impractical (i.e. the PL would never agree or even discuss parachute payments being paid direct to the council which is one of the terms of the loan). Nothing has changed amongst those strings - they are still attached.

 

But no, the pst decide to have a different view. The whole world will be rosier because they'll get relegated to a lower league (I can hear the cries of 'we'll walk this league' in the pst meetings now!) and magically they'll get even better gates because they're the bestest after all. Let's just totally ignore that they'll be a struggling L2 side.

 

Never let the facts get in the way though.... :facepalm:

 

But, they'll get more sponsorship and sell more hospitality purely due to being a 'community club'. Also, because they'll run the club so well, it will generate an operating profit to pay back the loan to the council, meet the football debt and pay the new CVA.

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How long before the phew stop declaring that every side that plays them are taking part in their cup final.....and start saying that every match Pompey plays is Pompey's cup final?

 

Tick tock.

 

The pitch at Fratton Park reminds me of a pitch in Wembley, before the first stadium was built.

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Just a couple of snippets I noticed on the FAQ from the Community Pompey website... http://www.communitypompey.co.uk/faqs/

 

A loan to the Trust was approved in principle by Portsmouth City Council in August, but the strings attached made this ultimately an impractical solution.

 

So what has changed to make this a practical solution now?

 

The business model assumes League 1 football for the next five years. In practical terms relegation does not have a huge impact on external revenues (eg TV money) and a successful side in League 2 would, more than likely attract larger gates than a struggling League 1 club.

 

Yes, good luck with that. And what about a struggling or mediocre League 2 side?

 

Was that

 

Plan 1 "we were crap in the premier league but we will get bigger crowds when we are doing well in the championship".

Oops that didn't work

Plan2 " we were crap in the championship but we will get bigger crowds when we are doing well in the league 1".

Oops that didn't work

Plan3 " we were crap in league 1 but we will get bigger crowds when we are doing well in the league 2".

Oops when that doesn't work they will crow on about the 8k fans they will get at money fields in Hants league 1 after they have gone bust.

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all things said and done it is a very good crowd considering their previous run of results. I'm not going to sneer at that figure

 

Comment from the Snooze site - sounds genuine. Why can't they even be honest about their attendances?

 

Fratbrat

 

5:16 PM on 02/02/2013

 

 

 

 

 

11,000? No way. Counting the (8000?) season ticket holders whether they go or not gives a really false impression.

 

What do you reckon the actual attendance was? I've never got away from the ground so quickly. Can't have been more than 8? 9 ? thousand ?

 

We'll be getting crowds of 5000 by the end of the season at this rate

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Pompey situation regarding very poor performances and giving points away free of charge...

 

Think they should be deducted further 20 points for being soooo shiiiiite:)

 

Is this fair on other teams and in the competitive spirit the FL advocate?

 

Or is it a case that every team will continue to be given 3 points..

 

Then again...Do I really care:p

 

LIQUIDATION:rolleyes:

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Me & FMDP wore our Sash shirts to the golf today. (Fark me it was cold & wet) Oh and yeah we got on telly well before you guys were awake.

 

As a result met another two lads who have now joined the Dubai Massive.

 

And we met a skate. Who has a Season Ticket.

 

And hasn't been since October because it is so embarrassingly sh1te.

 

"And what hurts the most is that they include me in the attendance figures, it's as much a joke as the rest of the club. It hurts every day. Please tell me you don't post on that scummah thread, how do they know more about what is happening at our club than our own fans and media"........

:lol:

Oh he had a bad day after that got sh1t from everyone

 

And got he got cold & wet

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A bit worrying for the phew now. After today's unlucky defeat against a fellow struggler, they are now 8 points adrift. Fortunately, once they move out of administration they are going to get those 10 points back. But that would only leave them 2 points above the drop zone. They'll need to end their 37 year record run of not winning p.d.q. to avoid being sucked back into the dreaded drop zone.

 

Oh wait a minute, I forgot, they'll be losing 10 points. Oops. That's going to make survival a little bit trickier.

 

Tragic isn't it? :lol:

 

If a club is liquidated and no-one has turned up to witness it, does it make a sound?

 

You mean apart from the deafening roar of laughter from us nutjobs?

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I may of dreamt it, but was it not a condition of being granted the Golden share this season should they take over, that they did so without any debts going forward!

 

Not quite, they had to not carry 'so much' of the existing debt. A manoeuvre to stop BC from load the new company with what he is owed. I think there was an estimate figure of £5m but cannot be sure, excluding other debts (admin and football).

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I am, don't be so wet.

 

Positive spin is that their attendance figure seems to have stabilised somewhat and it's not even that far fetched to say that they could get similar(ish) figures if they do fairly well in L2 (in case they get that far).

 

Negative angle is that it is just not good enough for the PST budgets, and the attendance numbers are being disputed by those at FP.

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Lovely jubbly! They could be bottom next week without the minus 10!

 

http://www.bbc.co.uk/sport/football/teams/portsmouth

Lg1 foot of table

20 Bury 30 -11 29

__________________________________________

21 Oldham 31 -17 27

22 S****horpe 30 -21 26

23 Hartlepool 30 -25 22

24 Portsmouth 30 -21 21

Edited by Waterside.saint
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http://www.bbc.co.uk/sport/football/teams/portsmouth

Lg1 foot of table

20 Bury 30 -11 29

__________________________________________

21 Oldham 31 -17 27

22 S****horpe 30 -21 26

23 Hartlepool 30 -25 22

24 Portsmouth 30 -21 21

 

Unfortunately this seems to be incorrect - both the Beeb and Sky have added today's results into the table twice. They've done it with the Prem as well, where they are showing us below Reading.

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Unfortunately this seems to be incorrect - both the Beeb and Sky have added today's results into the table twice. They've done it with the Prem as well, where they are showing us below Reading.

 

I thought it weird too and cross-checked Beeb with Sky - so I concluded that my Danish footy site was not up to date. Thanks for clearing that up!

 

http://www.bold.dk/fodbold/England/League_1

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Unfortunately this seems to be incorrect - both the Beeb and Sky have added today's results into the table twice. They've done it with the Prem as well, where they are showing us below Reading.

 

Minor sunday morning panic over! Thanks for clearing that up, I just took it at face value despite thinking the live table looked a bit healthier at the end of play yesterday!

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I'm still having a VERY hard time deciding what I want. This slide into oblivion is hilarious. Part of me still wants a final death cut.

 

Maybe the perfect ending would be a legitimate slide out of the league followed by the final death blow.....I really don't know, we seem to be spoiled by choice at the moment!

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Endless slide for me. Any death blow will allow a phoenix club to be started.

 

Problem is, their debts are almost becoming salvageable. At, what £18 million to 'save' the club, they aren't far off of the value that Markus purchased us for. Albeit we came with far more fans, a far better reputation and at £4million or so less. If the skates somehow wipe out their debts a third time, they could well find themselves to represent vale for money. Hmm, I revise my opinion, a death blow is starting to sound more attractive.

Sent from my Lumia 800 using Board Express

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Endless slide for me. Any death blow will allow a phoenix club to be started.

 

Problem is, their debts are almost becoming salvageable. At, what £18 million to 'save' the club, they aren't far off of the value that Markus purchased us for. Albeit we came with far more fans, a far better reputation and at £4million or so less. If the skates somehow wipe out their debts a third time, they could well find themselves to represent vale for money. Hmm, I revise my opinion, a death blow is starting to sound more attractive.

Sent from my Lumia 800 using Board Express

 

And THAT, in a nutshell, is their "Cunning Plan" ....... purchase the corpse for £1, and start all over again .... STILL in the Football League

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http://www.communitypompey.co.uk/files/PST-Prospectus.pdf

 

The PST are still publishing the prospectus showing a property developer and the old business plan. I know that they're using the loophole of "community shares" that have lower standards than a normal share issue, but is this legal? Surely they're canvassing for investments on false information.

 

The financial projections on page 8 (page 5 of the pdf) look even funnier now.

 

Also:

Full details of the financial projections can be found on the trust website

 

Can't seem to find those pesky details.:lol:

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http://www.communitypompey.co.uk/files/PST-Prospectus.pdf

 

The PST are still publishing the prospectus showing a property developer and the old business plan. I know that they're using the loophole of "community shares" that have lower standards than a normal share issue, but is this legal? Surely they're canvassing for investments on false information.

 

The financial projections on page 8 (page 5 of the pdf) look even funnier now.

 

Also:

 

 

Can't seem to find those pesky details.:lol:

 

When will those updated details appear! It is becoming increasingly unlikely that the PST will become the major shareholder as the prospectus hoped, what with the extra contributions from the HNWs being turned into equity. I wonder how they will explain that?

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