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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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rallyboy

rallyboy

Posted
Posted

Antiques Roadshow meets Mastermind.

 

Isn't that the armchair off HMS Victory upon which Nelson drew his final breath?

And he's wearing Davy Crockett's original shirt from the Alamo...

Nice Ming vase in the corner, and he should get a few quid for Elton John's dentures.

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FloridaMarlin

FloridaMarlin

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According to one of their number who was there, their board meeting this week had two items for discussion - a) Sign a goalkeeper, b) Discuss Plan B in the event of relegation.

 

They're now concerned that relegation might be a prospect, despite the fan/owners expected them to walk the league, and they are signing any player with a pulse to help them do just that.

 

He also mentioned they got the last of the parachute payments this week. He said they were expecting £4m, but got £9m from the Premier League.

 

He confirmed that nice bit of bunce would enable them to pay off the football creditors.

 

Perhaps I'm being thick, but wasn't it already known their parachute payments would be increased, and the increase had been factored in to pay the Football Creditors?

 

Also, he mentioned their income was only £6m a year. I've lost track of things, but how does that stack up?

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Tamesaint

Tamesaint

Posted
Posted
It looks like their new owner's sphincters can't take much more, and they've just moved up to DESPCON 2

 

If they lose to Rochdale tomorrow it's sh*t or bust time for them.

 

 

Rochdale have won their last 4 league games. Let's hope the Manager of the Month curse does not affect them tomorrow!!

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trousers

trousers

Posted
Posted
He also mentioned they got the last of the parachute payments this week. He said they were expecting £4m, but got £9m from the Premier League.

 

Would that be a life saving £9m from the very same organisation that they've spent 6 months slagging off as the purveyors of "not real football"....?

 

You really couldn't make up this hypocritical sh*te half the time...

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alehouseboys

alehouseboys

Posted
Posted
b96a03e6360c766c8fd54ab06bf70515_normal.jpegNeil Allen ‏@pn_neil_allen

Ladies and gentlemen, the chap with a #Pompey specialist subject on Mastermind tonight (8pm ) is..... @Planet_Pedro!!!!

 

Will this be covering their entire history or just the good bits that haven't been airbrushed out?

 

 

Let's hope one of the questions is "and what year did the famous dock strike story take place?"

 

I've always wanted to know.

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hutch

hutch

Posted
Posted
b96a03e6360c766c8fd54ab06bf70515_normal.jpegNeil Allen ‏@pn_neil_allen

Ladies and gentlemen, the chap with a #Pompey specialist subject on Mastermind tonight (8pm ) is..... @Planet_Pedro!!!!

 

Will this be covering their entire history or just the good bits that haven't been airbrushed out?

 

So joint top scorer in the general knowledge section with 16 points, but let down by his knowledge of skate history, and finished 3rd.

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Kingsland Codger

Kingsland Codger

Posted
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We could write some of the questions for John Humphries:

 

 

'Calculated as an average per year, how many administrations have Portsmouth been put into over the last 6 years?'

 

'How many players were listed in the recent Portsmouth News article as being owed by the club after the recent 'fans take-over?'

 

'Having paid for 57% of the shares in the club, how much control do the fans who paid for them actually have in the running of the club?'

 

'What % of turnover will the clubs wages be, assuming the same players remain at the club, once the parachute payments stop?'

 

 

It might actually prove to be educational for other fans watching? They might actually learn something about their predicament...

 

Any other suggestions?

 

According to the BBC website*, in May 2008 200,000 people were at Southsea Common for the FA Cup open-topped bus parade. Where are they now?

 

*http://www.bbc.co.uk/hampshire/content/articles/2008/05/15/pompey_victory_parade_feature.shtml

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suewhistle

suewhistle

Posted
Posted

Just got back from a night out in Portsmouth with the 18s and over from my footie team. Jeez - how depresssing, with arsehole doorstaff, and our coach not being allowed in to a couple of places. The place is grim and, as proved by my visit to Fatpipe Park the other week, falling apart.

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mcjwills

mcjwills

Posted
Posted
Just got back from a night out in Portsmouth with the 18s and over from my footie team. Jeez - how depresssing, with arsehole doorstaff, and our coach not being allowed in to a couple of places. The place is grim and, as proved by my visit to Fatpipe Park the other week, falling apart.

 

There are highly trained medical staff that can help you get over the physical and mental issues that may have arisen due to your straying the wrong end of the M27.

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Torres

Torres

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Posted
have you seen Ferry, Ertl and Barcham play? ****ing terrible. Wallace is the only midfielder they have with any talent at all.

 

Err, hang on Chez. I'll have you know that Simon Ferry is the best midfielder in the league.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-star-hailed-as-best-midfielder-in-league-two-1-5527446?WT.mc_id=Outbrain_text&obref=obinsite

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suewhistle

suewhistle

Posted
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There are highly trained medical staff that can help you get over the physical and mental issues that may have arisen due to your straying the wrong end of the M27.

 

I hope so.. Southampton is not a fantastic city, but at least they'll serve you in Wetherspoons and there is not the underlying tension there was last night with security staff and police everywhere. In all my years I've never been refused service, and none of our small group were drunk or even noisy. I put my best posh, formal and mild mannered voice on to complain, but you can't argue with ****holes.

 

I'll wash the nasty taste away after the Swansea game...

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JackanorySFC

JackanorySFC

Posted
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I hope so.. Southampton is not a fantastic city, but at least they'll serve you in Wetherspoons and there is not the underlying tension there was last night with security staff and police everywhere. In all my years I've never been refused service, and none of our small group were drunk or even noisy. I put my best posh, formal and mild mannered voice on to complain, but you can't argue with ****holes.

 

I'll wash the nasty taste away after the Swansea game...

 

All the doors in Pompey (and most of Southern England) are run by a company founded and owned by a well known Southampton family.

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hypochondriac

hypochondriac

Posted
Posted

I love how humble they are nowadays over on pol:

 

If PFC had been liquidated- thank goodness it wasn't- then it at least it would have spared us the indignities of Portsmouth v. Rochdale. Our great players must turn in their graves to see fixtures against these risible minnows.

 

Rochdale? Famous for what? A woman who ranted at Gordon Brown during the election campaign, the now odious Cyril Smith and probably rain. PFC? Twice the Champions of England and twice the Cup winners. Don't you forget it, minnows.

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hypochondriac

hypochondriac

Posted
Posted

Meanwhile the self proclaimed 'scum finder general' is making a prediction:

 

Yep, but then the FA Cup is also littered with graves of big clubs losing to minnows. The issue really is however longevity - we've got it, whatever we do we will still be going, we will still be able to rise whereas the likes of Rochdale will do what they have been for many more years to come. Their promotion a few seasons back to L1 was extremely short lived as they just don't have the wherewithal to maintain any form of stability, whereas we will be back but this time a lot leaner, a lot keener and a helluva lot meaner.

 

We will be able to hold our heads high and sleep at night, whilst those we pass on the way up will watch on in envy. Trust me, that time will come.

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hypochondriac

hypochondriac

Posted
Posted

Also Steve Bruce saying that without their rich backers they could be in the verge of doing a Portsmouth prompted this response :

 

On the verge of a Portsmouth'. Start rising through the divisions and this will be synonymous with achievement worthy of emulating rather than debt, demotions and disgrace

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hutch

hutch

Posted
Posted
Also Steve Bruce saying that without their rich backers they could be in the verge of doing a Portsmouth prompted this response :

 

On the verge of a Portsmouth'. Start rising through the divisions and this will be synonymous with achievement worthy of emulating rather than debt, demotions and disgrace

Is he saying Portsmouth are on the verge of doing a Southampton?

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Ohio Saint

Ohio Saint

Posted
Posted (edited)

I was talking to a Mexican at work the other day. He asked me who I support, then later asked who our rivals were.

Two things immediately crystalized in my mind.

A) I really don't think they can be called rivals any longer, at least for a number of years.

B) I was actually too embarrassed to mention Poopey as a rival club. Their situation financially, league status and overall cheaty crimey tax fiddly personality........It is really something when you actually feel ashamed of those that you are supposed to have negative feelings for in other ways.

 

It was an odd experience, and an eye opener for me see how I really feel about them these days. A while back, they would have been a good topic of conversation as a rival team, but now they are not only an embarrassment to themselves, but their "Rivals" too!!

Edited by Ohio Saint
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Torres

Torres

Posted
Posted
Meanwhile the self proclaimed 'scum finder general' is making a prediction:

 

..... whatever we do we will still be going....

 

Sadly I think he's right on this one. It seems no matter what 'financial irregularities' their owners and management are involved in, no matter how much money they spend and never pay back, no matter how many charities they pretend to collect money for but then spend themselves, no matter how much revenue they cheat the public purse of, no matter how many small businesses, local businesses, they rip off and no matter how many times all this is repeated they are still going now and will keep on going. Hardly something to be proud of though.

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mcjwills

mcjwills

Posted
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Sadly I think he's right on this one. It seems no matter what 'financial irregularities' their owners and management are involved in, no matter how much money they spend and never pay back, no matter how many charities they pretend to collect money for but then spend themselves, no matter how much revenue they cheat the public purse of, no matter how many small businesses, local businesses, they rip off and no matter how many times all this is repeated they are still going now and will keep on going. Hardly something to be proud of though.

 

If they do it again without parachute payments they will be taken to the cleaners by the HMRC. No way they will be able to claim millions of pounds of debt elsewhere. Next time liquidation.

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suewhistle

suewhistle

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Sadly I think he's right on this one. It seems no matter what 'financial irregularities' their owners and management SNIP

 

Yes, but who apart from the HNW individuals - who hope to gain the land one day - who the heck is extending them credit?? No bank in their right mind would give them an overdraft, surely? Where's their workingday-to-day capital coming from? There can't be any small businesses left to be shafted? Sorry about the rhetorical questions, but I'm still amazed at their survival.

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The9

The9

Posted
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Why would Bury want to loan out their first choice keeper to a relegation rival? Seems a bit odd. Nothing to do with their ex-CEO now working at Pompey I assume...

 

They have Brian Jensen as backup (as I saw in my League Two Tour of Accrington v Dag/Red and Bury v Newport on Fri/Sat). So they're probably happy to ship out his wages.

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The9

The9

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have you seen Ferry, Ertl and Barcham play? ****ing terrible. Wallace is the only midfielder they have with any talent at all.

 

Barcham looked quite decent in the first couple of games (after the hilarious Oxford opener), his form seems to have fallen off the planet though.

 

FWIW Accrington brought a very nippy loanee called Caton on late on Friday and they soon got a goal back against Dagenham. If him and Odejayi (who won everything in the air) can get their act together, that second relegation spot might open up again.

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trousers

trousers

Posted
Posted
They have Brian Jensen as backup (as I saw in my League Two Tour of Accrington v Dag/Red and Bury v Newport on Fri/Sat). So they're probably happy to ship out his wages.

 

http://www.portsmouth.co.uk/sport/pompey/defensive-praise-from-pompey-keeper-after-perfect-debut-1-5560702

 

[h=4]andi4asg[/h]10:02 AM on 07/10/2013

The word from Bury is that this is a loan with a view to a permanent transfer. my concern is that bury only want to move him on as he is one of their highest earners, does this mean that our "HNW's" are subsidising his wages?

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rallyboy

rallyboy

Posted
Posted

is it just me being a bit Nutjobbish, or are pompey currently spending their way out of trouble?

 

If they ever file any accounts, I suspect they will show that the wages have crept a bit.

The recent PR campaign about projections (not facts) will have muddied the waters, but the accounts will tell the real story.

 

Luckily the parachute payments cover any insolvent trading.

Forever!

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Gemmel

Gemmel

Posted
Posted
is it just me being a bit Nutjobbish, or are pompey currently spending their way out of trouble?

 

If they ever file any accounts, I suspect they will show that the wages have crept a bit.

The recent PR campaign about projections (not facts) will have muddied the waters, but the accounts will tell the real story.

 

Luckily the parachute payments cover any insolvent trading.

Forever!

 

http://fansonline.net/portsmouth/mb/view.php?id=516958

 

It seems you are not the only one raising questions...... But the answer is of course cash flow, doh.

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suewhistle

suewhistle

Posted
Posted

A few posters seem to be reasonably on the ball.. : "The cash flow should have taken into account that this money was to be paid out."

 

Although we'd all like to defer paying our debts, the issue is that Pompey aren't to be trusted in that way. As another poster pointed out:

"a football club's cash flow is reasonably predictable over the course of a season and budgets are set accordingly". Except, of course, as any nutjob would point out, this depends on accurate and not over-optimistic predictions and adequate budgetting.

 

If I were a player owed money I'd be a bit worried, and only reassured that the PFA, surprisingly enough, have a charge or two on Fratton Park..

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Weston Super Saint

Weston Super Saint

Posted
Posted
http://fansonline.net/portsmouth/mb/view.php?id=516958

 

It seems you are not the only one raising questions...... But the answer is of course cash flow, doh.

 

There are some seriously deluded people on that website!

 

"what happens if an unexpected bill comes in?" What kind of bill aren't they expecting? They get billed for the things they purchase and the players they sign up during the season! If there are any unexpected bills they have probably come from HMRC and probably [to every other business in the country], aren't really unexpected.

 

I do like the idea of stealing the parachute payments that have been 'ringfenced' [yeah right!] to pay the ex hero-villians so that they can afford to take on some short term hero-villians. Not sure they've really figured out how they will repay the stolen money so my guess is admin 5 in 6-12 months time :D

 

The only thing I did like on that thread was where they described themselves as a small business :D

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hutch

hutch

Posted
Posted
A few posters seem to be reasonably on the ball.. : "The cash flow should have taken into account that this money was to be paid out."

 

Although we'd all like to defer paying our debts, the issue is that Pompey aren't to be trusted in that way. As another poster pointed out:

"a football club's cash flow is reasonably predictable over the course of a season and budgets are set accordingly". Except, of course, as any nutjob would point out, this depends on accurate and not over-optimistic predictions and adequate budgetting.

 

If I were a player owed money I'd be a bit worried, and only reassured that the PFA, surprisingly enough, have a charge or two on Fratton Park..

Nope, you haven't got it yet, Sue. What you do is set your budgets, and then forecast your income accordingly. Repeat weekly.

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Winchester Red

Winchester Red

Posted
Posted (edited)
If they do it again without parachute payments they will be taken to the cleaners by the HMRC. No way they will be able to claim millions of pounds of debt elsewhere. Next time liquidation.

 

......

 

(Edit - Seems easier than ever to get repeating posts on this forum - I definitely only clicked it once!)

Edited by Winchester Red
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badgerx16

badgerx16

Posted
Posted
http://fansonline.net/portsmouth/mb/view.php?id=516958

 

It seems you are not the only one raising questions...... But the answer is of course cash flow, doh.

"Why agree to pay back over 1 year when you can commit to paying back over 4. Doesn't stop you paying back earlier if you want to ...."

 

"Another factor is, if you agree to pay someone sooner than initially agreed, you give yourself an opportunity to do a deal to pay them a little less if they get a bigger lump sum sooner."

 

How many times are they going to try to dilute what they owe their former heroes ?

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rallyboy

rallyboy

Posted
Posted

I suspect that liquidation could be more unlikely next time.

 

Write off yet MORE debts and you are left with a small club with a decent size fanbase for League Two.

It could be run on a shoestring - in theory.

 

Unless the next bunch repeated history and started to overspend, but I'm sure that wouldn't happen.

 

The FL could have pressured them but they let them off with the last dodgy administration exit, so I can't see them doing anything, and we've established through some odd decisions that they clearly have friends in high places when it comes to court appearances.

 

I expect them to stumble on whatever future madness occurs.

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