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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Joey-deacons-left-nut

Joey-deacons-left-nut

Posted
Posted

I see they've released some of the financials....

 

 

Player wages account for 27% of the income..... Limit is 55%...,

 

Bare in mind the income is hideously skewed as it includes the parachutte payments, so you'd need to deduct 8m from that straight away, to give you the actual figure and then work out what the percentage is.... I'm guessing it's very VERY CLOSE TO 55%...,

 

They wouldn't be going for a promotion or bust style approach AGAIN would they?!?!!

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stevegrant

stevegrant

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-delight-at-finance-figures-under-new-ownership-1-5522516

 

What particularly strikes me about this article is this bit:

Figures presented by finance director Tony Brown showed a commercial income of £1,296,000 is forecast by June next year.

That is 58-per-cent more – £752,366 – on the budgeted £543,634 drawn up by the club.

Now, correct me if I'm wrong here, but £1,296,000 instead of £543,634 would be a 138% increase rather than a 58% increase.

 

Impressive figures if true, but of course the devil is in the detail. Further on in the article:

That has helped influence forecast first-year losses to presently be put at £713,955 – a difference of £251,279 to budgeted losses of £965,234.

So they have forecast increased commercial revenue by £752,366 but that will only lead to a reduction in losses of £251,279? What have they spent the other £501,087 on then?

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Colinjb

Colinjb

Posted
Posted (edited)
It's not even that good. Some of the fans own a little under 60% of the club.

 

We therefore mandate the Board to set up a sub-committee to amend both, to reflect a co-operative business owner with a large number of stakeholders.

 

So what is it to be? Shares? Stakes? Ponzi?

 

In fairness it's good to see that the fans will have some influence for their cash. Certainly the use of the word stakeholders undermines any true claim for fan ownership they had, it is merely a full and frank admission that they simply bankrolled the current owners who they hope and pray will have the clubs best interests at heart.... and P.S. guys, cheers for the dough!

Edited by Colinjb
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Lazlo78

Lazlo78

Posted
Posted

Ok, maybe I'm covering old ground here, maybe even from recent pages, but is this the essence of a "certain" football club?

 

- They ran up debts to an unsustainable level by signing expensive players on high wages

- They used their inflated squad to beat their bitter rivals in a cup match

- They got points deductions and were placed under a transfer embargo yet kept signing players

- Their owner turned out to have channelled money out of Lithuania and is involved in a legal feud while hiding out in Russia

- The club couldn't find a buyer and the ground below the football club is worth much more than the club itself

- They have average gates between 10k and 15k but going in the wrong direction

- They think fan ownership is the solution to their problems

- They have a fan that is very famous for his tattoos

 

Is this just about correct?

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Pugwash

Pugwash

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-delight-at-finance-figures-under-new-ownership-1-5522516

 

What particularly strikes me about this article is this bit:

 

Now, correct me if I'm wrong here, but £1,296,000 instead of £543,634 would be a 138% increase rather than a 58% increase.

 

Impressive figures if true, but of course the devil is in the detail. Further on in the article:

 

So they have forecast increased commercial revenue by £752,366 but that will only lead to a reduction in losses of £251,279? What have they spent the other £501,087 on then?

 

Money put by to repair/buy/steal back the clock. See Lord P's diatribe:

 

http://lordpalmerston.wordpress.com/2013/09/24/pst-agm-review/

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Minty

Minty

Posted
Posted

Those figures are only forecasts to next June... not actual figures. I would hope (purely from a financial prudence point of view) that those forecasts have been made assuming there will be a drop off in the initial support, and not that they will maintain the same support, because the way results are going, it wouldn't surprise me to see that support wane over the course of the season. To reach that forecast in June 2014 would then perhaps be reason for them to be optimistic, but there's a long way to go yet.

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Minty

Minty

Posted
Posted
So they have forecast increased commercial revenue by £752,366 but that will only lead to a reduction in losses of £251,279? What have they spent the other £501,087 on then?

 

Cost of sales... e.g. if that forecast income is partly from sales of pies and beer etc, then those extra pies and beer still have to be paid for...

 

It's clearly not been defined in that limited article but if revenue of ~£752k leads to a profit (reduced loss in reality) of ~£250k then they have a profit margin across all revenue streams of 33%.

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stevegrant

stevegrant

Posted
Posted
Cost of sales... e.g. if that forecast income is partly from sales of pies and beer etc, then those extra pies and beer still have to be paid for...

 

It's clearly not been defined in that limited article but if revenue of ~£752k leads to a profit (reduced loss in reality) of ~£250k then they have a profit margin across all revenue streams of 33%.

That seems remarkably low for the sort of product they'll be selling to produce "commercial" revenue.

 

Stuff in the club shop, for example. The home shirt's on sale for £35, a 33% margin would suggest they're having to pay £26 per shirt, which seems insanely expensive from wholesale.

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Wurzel

Wurzel

Posted
Posted
That seems remarkably low for the sort of product they'll be selling to produce "commercial" revenue.

 

Stuff in the club shop, for example. The home shirt's on sale for £35, a 33% margin would suggest they're having to pay £26 per shirt, which seems insanely expensive from wholesale.

 

You're confusing your margins with your mark-ups Mr Grant. Taking VAT into account the shirt would cost approx £17.40 - still relatively high considering the huge volumes they'd be buying in .... or maybe not then ;)

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Minty

Minty

Posted
Posted
You're confusing your margins with your mark-ups Mr Grant. Taking VAT into account the shirt would cost approx £17.40 - still relatively high considering the huge volumes they'd be buying in .... or maybe not then ;)

 

Plus, it's only an average margin... matchday sales of drinks/food etc will be a lower margin than stuff in the club shop. No idea what the % of sales is in each category, would be interesting to know if there is any data out there.

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holepuncture

holepuncture

Posted
Posted
You're confusing your margins with your mark-ups Mr Grant. Taking VAT into account the shirt would cost approx £17.40 - still relatively high considering the huge volumes they'd be buying in .... or maybe not then ;)

 

the peoples republic of portsea do not recognise VAT, there is no definition or meaning to the shrimps/skates

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Weston Super Saint

Weston Super Saint

Posted
Posted
Cost of sales... e.g. if that forecast income is partly from sales of pies and beer etc, then those extra pies and beer still have to be paid for...

 

It's clearly not been defined in that limited article but if revenue of ~£752k leads to a profit (reduced loss in reality) of ~£250k then they have a profit margin across all revenue streams of 33%.

 

But the article goes on to mention sponsorship from business who were thought to be cancelling but didn't and gave them money at Championship levels, suggesting that the increase in revenue is down to sponsorship - which has a tiny cost of sales!

 

Plus, it's only an average margin... matchday sales of drinks/food etc will be a lower margin than stuff in the club shop. No idea what the % of sales is in each category, would be interesting to know if there is any data out there.

 

You can reasonably expect the Alcohol and soft drinks to have a GP in the region of 70-75%. Food will be at least 50%, probably closer to 60%. I can't see the overheads and staff costs [mainly minimum wage] accounting for a huge amount so I would expect the GP for food and drink [certainly on the terraces] to be around 45-50%.

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OldNick

OldNick

Posted
Posted
Her name was Deborah Lambert (I wonder if, by any chance she might be related...).

 

As Ms Lambert was valuing the utterly impractical chairs, she asked the question "Who would want them?".

 

Unsurprisingly, she didn't answer her own question but the clear implication was -without any provenance for the Portsmouth FC -> HMS Warrior -> HMS Victory -> Monty -> Churchill story, the 14 chairs were worth around £180 each tops. She acknowledged should stories about the chairs be thoroughly researched and the rumours (Terry's word) proved to be true, they would be worth more.

 

Given the above, I'd be inclined to go with the Antiques Roadshow professional.

lol, only 2 of the chairs are impractical (nursing chair )height. I can categorically tell you that over 20years ago when Deacon was chairman a sum consideraBly more than the figure on the ARS was offered and would still be on the table now. That particular 'expert' gets it wrong time and again. Most of the people on those shows are auctioneers, not people who have spent their lives putting their money where their mouth is and learning from actually trading in such items.

The television programmes on antiques are mostly contrived, (although the Antiques roadshow is the closest to getting it right, not on this occasion)and very rarely are they able to get a correct valuation, they are showmen not necessarily good at the job.

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Weston Super Saint

Weston Super Saint

Posted
Posted
Club engagement manager Mike Hall said the deal is worth a guaranteed £300,000 to the club a year, in terms of cash, sponsorship and other services, plus a percentage of sales.

 

He said: ‘When we won the FA Cup in 2008 the club only made £60,000 profit, so this deal is six times as much, which is incredible.’

 

6 times 60,000 = 300,000?

 

Has anyone mentioned the figures just don't add up?

 

Do they all live in cloud cuckoo land or do they just make **** up as they go along?

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OldNick

OldNick

Posted
Posted
6 times 60,000 = 300,000?

 

Has anyone mentioned the figures just don't add up?

 

Do they all live in cloud cuckoo land or do they just make **** up as they go along?

so sports direct have to earn 6k a week from sales in the shop just to get the 300k a year in!! I know there is a massive mark up on shirts etc but as always it just doesn't add up. I assume they have read the contract correctly
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dubai_phil

dubai_phil

Posted
Posted
lol, only 2 of the chairs are impractical (nursing chair )height. I can categorically tell you that over 20years ago when Deacon was chairman a sum consideraBly more than the figure on the ARS was offered and would still be on the table now. That particular 'expert' gets it wrong time and again. Most of the people on those shows are auctioneers, not people who have spent their lives putting their money where their mouth is and learning from actually trading in such items.

The television programmes on antiques are mostly contrived, (although the Antiques roadshow is the closest to getting it right, not on this occasion)and very rarely are they able to get a correct valuation, they are showmen not necessarily good at the job.

 

I have met OldNick on many occassions and I can certainly validate the fact that being so old he certainly would have been around when the trees were planted from which the wood came.

 

He knows his Chairs that's f'sure.

 

Only seen him fall off one

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Lazlo78

Lazlo78

Posted
Posted (edited)
Ok, maybe I'm covering old ground here, maybe even from recent pages, but is this the essence of a "certain" football club?

 

- They ran up debts to an unsustainable level by signing expensive players on high wages

- They used their inflated squad to beat their bitter rivals in a cup match

- They got points deductions and were placed under a transfer embargo yet kept signing players

- Their owner turned out to have channelled money out of Lithuania and is involved in a legal feud while hiding out in Russia

- The club couldn't find a buyer and the ground below the football club is worth much more than the club itself

- They have average gates between 10k and 15k but going in the wrong direction

- They think fan ownership is the solution to their problems

- They have a fan that is very famous for his tattoos

 

Is this just about correct?

 

Ok, I gather that this was the wrong thread to discuss Hearts of Midlothian ;)

 

Edit: if you're wondering about the tattooed fan, here he is: http://www.dailyrecord.co.uk/news/scottish-news/hearts-fan-vows-vladimir-romanovs-1968719

 

Hearts-fan-Stan-Thomson-shows-off-his-massive-Romanov-tattoo-1968713.jpg

Edited by Lazlo78
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OldNick

OldNick

Posted
Posted
I have met OldNick on many occassions and I can certainly validate the fact that being so old he certainly would have been around when the trees were planted from which the wood came.

 

He knows his Chairs that's f'sure.

 

Only seen him fall off one

I admit that I did fall off a chair in your company, this was after i fell asleep during a golf story
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Lazlo78

Lazlo78

Posted
Posted
The "one sentence per paragraph" thing does seem to be the norm these days.

 

Yes but phrases like the following also reminds me of Factless:

 

"They were brilliant to me during my time at St Mary’s and I understand they are a passionate bunch.

 

“It would be nice to get a good reception this time. It will be my last time there and I have so much fondness for the club and the fans because I was there for six years as a youngster and a senior player and they treated me brilliantly."

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Lazlo78

Lazlo78

Posted
Posted
Ultimately if Phillips has said that, what is Adam Leitch supposed to do? Make up a different quote that says "they've been ****s to me ever since I left so I'd love to shove it down their throats one last time"? :lol:

 

You're absolutely right - I just know I would have :mcinnes: over similar quotes from Factless ;)

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rallyboy

rallyboy

Posted
Posted

The Russian former owner of Pompey was the primary mover in a ‘colossus fraud’ worth over £400m which forced the bank he controlled to be nationalised, a court has heard.

 

Vladimir Antonov, 37, and his Lithuanian business partner Raimondas Baranauskas, 55, are fighting extradition to Lithuania where they are suspected of stripping 470 million euro (£396m) and 10 million US dollars worth (£6m) of assets and funds from Snoras Bank.

 

I seem to recall that despite this reputation, he was welcomed with open arms by pompey directors and fans alike...

Yet it took a Nutjob ten seconds on Google to discover the way that he did business.

 

pompey presented him as a prospective owner, he was then given a clean bill of health by football authorities, and this stolen money was used to strengthen the pompey squad.

 

I guess that explains why so many of their fans feel so bad about results they gained while using this stolen cash, even though they weren't to know what he was like. :scared:

 

I remember I was as staggered as everyone else when a man who is involved with professional hitmen turned out to be a little bit criminally-minded.

 

If he looks like he's involved in organised crime, if his father has been shot, if people around him are involved in professional hits, if one of his business associates has been gunned down, if he has his own page on a mafia website and the FSA say they don't want him in the UK as he is involved in mass fraud and money-laundering, then you have to wonder how dim you would have to be to welcome him into your club.

 

Presumably someone else's fault.

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holepuncture

holepuncture

Posted
Posted
The Russian former owner of Pompey was the primary mover in a ‘colossus fraud’ worth over £400m which forced the bank he controlled to be nationalised, a court has heard.

 

Vladimir Antonov, 37, and his Lithuanian business partner Raimondas Baranauskas, 55, are fighting extradition to Lithuania where they are suspected of stripping 470 million euro (£396m) and 10 million US dollars worth (£6m) of assets and funds from Snoras Bank.

 

I seem to recall that despite this reputation, he was welcomed with open arms by pompey directors and fans alike...

Yet it took a Nutjob ten seconds on Google to discover the way that he did business.

 

pompey presented him as a prospective owner, he was then given a clean bill of health by football authorities, and this stolen money was used to strengthen the pompey squad.

 

I guess that explains why so many of their fans feel so bad about results they gained while using this stolen cash, even though they weren't to know what he was like. :scared:

 

I remember I was as staggered as everyone else when a man who is involved with professional hitmen turned out to be a little bit criminally-minded.

 

If he looks like he's involved in organised crime, if his father has been shot, if people around him are involved in professional hits, if one of his business associates has been gunned down, if he has his own page on a mafia website and the FSA say they don't want him in the UK as he is involved in mass fraud and money-laundering, then you have to wonder how dim you would have to be to welcome him into your club.

 

Presumably someone else's fault.

 

 

and while all this was being exposed by nutjobs in the blink of an eye, good old #factless allen and his mob were trotting off to London to have a cup of tea with Vladimir and Roman, LOL

 

Proper journos this lot!

 

Let us not forget, former FA Head of Integrity, David Lampitt, was involved in CSI evey step of the way.. to suggest he never knew anything that a bunch of nutjobs could uncover in a matter of seconds, is total lunacy. He must have been complicit in this latest money laundering affair.

 

 

http://www.bbc.co.uk/news/uk-england-hampshire-24284833

 

Fair play to RUmafia for exposing it all, they were spot on.

 

http://www.rumafia.com/cgi-sys/suspendedpage.cgi?id=67

 

Website now suspended..

 

http://news.yahoo.com/russia-asks-arrest-real-estate-businessman-polonsky-163036260.html

 

Earlier in the year, Polonsky was detained in Cambodia accused of assault and illegal detention after an incident on a boat, according to authorities in the country at the time. He was later freed.

 

Pretty sure this nice chap is tied into Vladimirs situation too.

 

It is truly staggering how the football authorities managed to cover all of this up :mcinnes:

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Torres

Torres

Posted
Posted
and while all this was being exposed by nutjobs in the blink of an eye, good old #factless allen and his mob were trotting off to London to have a cup of tea with Vladimir and Roman, LOL

 

 

 

I wonder how CSI's new offices in London are progressing?

 

http://www.portsmouth.co.uk/sport/pompey/pompey-owners-london-hq-1-3113422

 

BTW, if anyone else wishes to experience the CSI's old London headquarters (6 Lombard Street) from themselves and walk in the shoes of superstar reporter Emma Judd, you still can:

 

http://www.landmarkplc.com/world-class-serviced-offices/locations/1-6-lombard-street

 

Little wonder Emma was ushered into a meeting room, it was the only room that Roman had booked for that day....

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Waterside.saint

Waterside.saint

Posted
Posted
I miss all the criminals, and the prossie-bothering managers.

And Ho and his funny old ideas, and the underwater casinos with Saab dealerships and a seabed-based Mr Clive factory outlet.

Oh well, that was a golden era of comedy, and we were lucky enough to be there.

 

Courage mes braves, they're just giving us time to draw breath for the next round of gut-busting belly laughs. The leopard does not change his shorts and there's plenty of evidence that they're already reverting to type.

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Merovingian

Merovingian

Posted
Posted
The Russian former owner of Pompey was the primary mover in a ‘colossus fraud’ worth over £400m which forced the bank he controlled to be nationalised, a court has heard.

 

Vladimir Antonov, 37, and his Lithuanian business partner Raimondas Baranauskas, 55, are fighting extradition to Lithuania where they are suspected of stripping 470 million euro (£396m) and 10 million US dollars worth (£6m) of assets and funds from Snoras Bank.

 

I seem to recall that despite this reputation, he was welcomed with open arms by pompey directors and fans alike...

Yet it took a Nutjob ten seconds on Google to discover the way that he did business.

 

pompey presented him as a prospective owner, he was then given a clean bill of health by football authorities, and this stolen money was used to strengthen the pompey squad.

 

I guess that explains why so many of their fans feel so bad about results they gained while using this stolen cash, even though they weren't to know what he was like. :scared:

 

I remember I was as staggered as everyone else when a man who is involved with professional hitmen turned out to be a little bit criminally-minded.

 

If he looks like he's involved in organised crime, if his father has been shot, if people around him are involved in professional hits, if one of his business associates has been gunned down, if he has his own page on a mafia website and the FSA say they don't want him in the UK as he is involved in mass fraud and money-laundering, then you have to wonder how dim you would have to be to welcome him into your club.

 

Presumably someone else's fault.

 

bull**** as usual - all this was bought up on POL before he took over by those of us who are not just nodding donkeys FFS - if your going to make statements at least make them factually correct

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OldNick

OldNick

Posted
Posted
bull**** as usual - all this was bought up on POL before he took over by those of us who are not just nodding donkeys FFS - if your going to make statements at least make them factually correct
Mero it seems a nerve has been hit! We can only generalise, as of course there would be a few fans who were not fooled, sadly the majority fell for it hook line and sinker ( I'm sure the same could be said if the roles were reversed) a lot of your fellows fans came on here and told us that you were not running up massive debts, that you were able to afford 100k a week players on 16k attendances. We were also assured that the new stadium was going to be easily afforded due to Tescos love of the club etc as they so needed your acreage in that prime residential and retail site. So please excuse us for throwing it back in your face.

Please put this on record, we have told you that the new club is not going to work as the fans spoilt for 10 years or so on star players will not stomach swilling around the lower division, and whilst the novelty of being a fan owned club ( loosely and not really) has its pluses as soon as things don't go we'll,your board will come under immense pressure to release the purse strings.

I have no gripe with the decent fans that you have but the big time Charlie's who came on here and talked big only to melt away get what they deserve

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