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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Crab Lungs

Crab Lungs

Posted
Posted
Anyone see the business case in a new ground. Brighton's cost around £93m so he's going to have to spend close to that for a capacity in the high 20ks. If he's going to build for even 35k the price goes up exponentially​. There can't be much value in a landlocked Fatpipes.

He's a businessman not a supporter and the sums just don't seem to add up.

 

Sent from my VKY-L09 using Tapatalk

 

Well according to them, they generate 6m per home game in revenue so another season or two and they'll be able to build their harbour pottydrone

dellboypete

dellboypete

Posted
Posted
Blimey, 15 miles? Watch out Sholing, they're coming to get you.

 

Ha ha - this was going through my mind as well - except I was thinking that a move to the IoW would mean they stay on an island and have a captive fan base!

Waterside.saint

Waterside.saint

Posted
Posted
Ha ha - this was going through my mind as well - except I was thinking that a move to the IoW would mean they stay on an island and have a captive fan base!

 

Now that would solve the problem for good and all :lol:

Pedro

Pedro

Posted
Posted
Has he actually made an offer? Lot of waffle and a bit of PR, few stipulations etc but surely the more you know the less attractive it becomes?

 

Introduce him to the potential heritage board...and let him be downwind of TCWTB and he'll be off like a road runner :-)

 

I haven't seen any monies mentioned, when you think Markus got us for about £15m then they should get about £1m

Weston Super Saint

Weston Super Saint

Posted
Posted
I haven't seen any monies mentioned, when you think Markus got us for about £15m then they should get about £1m

 

Don't they have 2500 'shareholders' at £1000 a pop who make up less than 50%?

 

Looks like at least £5m to pay back all the 'shareholders' and the 'presidents'. That doesn't seem like good value for money...

Mr Biscuits

Mr Biscuits

Posted
Posted

I can just see how that phone call will go......

 

'So let me get this right, loads of people invested in the club at a price of £1000 per share right?'

'Sort of, yes.....'

'What do you mean 'sort of'?'

'Well we call them shares but they don't pay dividends and they can't be traded on the stock market. They're just donations really but we called them shares as a part of the marketing ploy to sell them.'

'Right so are you telling me that these 'shares' essentially have no value?'

'Yes'

'But you would like me to reimburse those people who each donated £1000 per 'share', as a gesture of goodwill?'

Yes please'

'And how much is that going to cost? You already Want me to pay for a stadium that's only fit for demolition'

'Around about £250k on top of the value of the club and its assets'

*click*

'Mr Eisner? Hello?'

trousers

trousers

Posted
Posted (edited)
Well, it's £2,500,000 not £250k, actually!

Pompey mathematics (truncating trailing zeros off amounts owed) can be highly contagious :)

Edited by trousers
OldNick

OldNick

Posted
Posted
Anyone see the business case in a new ground. Brighton's cost around £93m so he's going to have to spend close to that for a capacity in the high 20ks. If he's going to build for even 35k the price goes up exponentially​. There can't be much value in a landlocked Fatpipes.

He's a businessman not a supporter and the sums just don't seem to add up.

 

Sent from my VKY-L09 using Tapatalk

dont forget he was involved in Disney, he will be able to get a disused Magic Kingdom and lay that on the tarmac carpark and job done.
Chez

Chez

Posted
Posted

The PST has 2426 shareholders, who collectively own 48.48%. If Mr Disney's offer was just to pay all the PFC shareholders back (including the Presidents) what they paid for the club it would cost him £5,004,125. However, I suspect the shareholders would expect to receive more than they invested.

buctootim

buctootim

Posted
Posted

If I was Eisner I'd just create 'A' and 'B' shares. A shares control the lion's share of the voting rights and get the dividends. The B shares get you a free scarf and the right to call yourself an owner.

Sevvy

Sevvy

Posted
Posted
If I was Eisner I'd just create 'A' and 'B' shares. A shares control the lion's share of the voting rights and get the dividends. The B shares get you a free scarf and the right to call yourself an owner.

 

No change there then

SW5 SAINT

SW5 SAINT

Posted
Posted
There's been two Portsmouth Football Clubs in recent history. The one before 2012 and the new one after 2012. Tut tut, what short memories they have.

 

Thats not correct, the current football club that plays it's home matches at Fratton Park is called Portsmouth Community F.C. Just as in Hereford, Hereford United F.C. used to play at Edgar street until 2014, the present club playing at Edgar street are just called Hereford F.C.

hutch

hutch

Posted
Posted

Reading that is like watching kids counting their pocket money isn't it? There's quite a big increase in property assets. Are they on an acquisition trail or are they capitalising repairs and maintenance or some other dodgy accounting jiggery-pokery?

trousers

trousers

Posted
Posted
Thats not correct, the current football club that plays it's home matches at Fratton Park is called Portsmouth Community F.C. Just as in Hereford, Hereford United F.C. used to play at Edgar street until 2014, the present club playing at Edgar street are just called Hereford F.C.

Yes, that's what i meant. (I may have mentioned it once or twice on here before ;) )

benjii

benjii

Posted
Posted

Their wage bill looks to be at a manageable level, relative to turnover but the Fratton running costs are going to knacker their cash reserves unless they increase turnover over the coming seasons.

 

Seeing how they pack the park every single match already, they're going to have to hike ticket prices. Or sell to a Yank.

Chez

Chez

Posted
Posted
Reading that is like watching kids counting their pocket money isn't it? There's quite a big increase in property assets. Are they on an acquisition trail or are they capitalising repairs and maintenance or some other dodgy accounting jiggery-pokery?

 

they acquired 16 Anson Road on a long lease recently, would that be it?

farawaysaint

farawaysaint

Posted
Posted (edited)
they acquired 16 Anson Road on a long lease recently, would that be it?

 

They appear to have capitalised a finance lease but there were also £500,000 additions to owned property (might be capitalised repairs to Fratton which is probably not correct but hey ho).

 

Their cash flow is healthy which is usually the sign of a good business so I wouldn't expect collapse by the way. I mean sure they made a loss but it is largely depreciation and amortisation.

Edited by farawaysaint
hutch

hutch

Posted
Posted
They appear to have capitalised a finance lease but there was also £500,000 additions to owned property (might be capitalised repairs to Fratton which is probably not correct but hey ho).

So if that's right then they've got 5,673 "shareholders" in a business with net assets less than £4m?

 

So their £1,000 "investment" has increased to about £700 since they bought in. And isn't the cash flow healthy because of the advance season ticket money they hold at the end of June? Why was less deferred than the year before?

hutch

hutch

Posted
Posted

Fair's fair, they're entitled to revel in the glory of it all. After all, it's not every year you finish third in the fourth division.

alehouseboys

alehouseboys

Posted
Posted
Surely a typo there? She means 300,000 to 500,000

 

By the Monday it will have grown to around 100,000, a few days later it will have doubled and within the week it will be back up to the magical "over 250,000".

 

I think they just count all the fingers held in the air which gives them an exaggerated advantage.

buctootim

buctootim

Posted
Posted
To be honest, most of us are totally embarrassed. Finishing 71st in the league is not a reason for celebration FFS

 

Fair do's. Maybe, just maybe if you'd gone up as Champions, but third??

Doctoroncall

Doctoroncall

Posted
Posted
To be honest, most of us are totally embarrassed. Finishing 71st in the league is not a reason for celebration FFS

 

Come on, the new community club has some success to celebrate for the first time. It maybe a long time for the next success having achieved promotion to the Big league.

ALWAYS_SFC

ALWAYS_SFC

Posted
Posted
To be honest, most of us are totally embarrassed. Finishing 71st in the league is not a reason for celebration FFS

 

So you should be, utter joke, what does your super "poopey only" forum have to say about it...

 

The football world are in "Awe" of them.... :lol:

Mr Biscuits

Mr Biscuits

Posted
Posted

Well.......

 

I suppose life down there must be so dire the powers that be are desparate for anything to celebrate.

But an open top bus for coming third in League Two? Wow.......

Pamplemousse

Pamplemousse

Posted
Posted

http://www.pompeytrust.com/userfiles/file/PST%20Voting%20Documentation/ProposedSaleInformationPackforPSTMembers.pdf

 

A highlight:

 

Are Michael Eisner and Tornante suitable owners for Portsmouth Football Club?

Given the issues with a number of owners over the last 40 years, the PST Board felt that it should scrutinise

the history and track record of any person offering to invest in or take over the club.

We are aware that over the last 4 years, a number of speculative approaches have taken place, which the

club’s CEO Mark Catlin has vetted to reject people that are unwilling to provide reassurance on their

identity or resources.

In the case of Michael Eisner and Tornante, the PST Board has identified that

• Michael Eisner has a track record as a successful businessman at the top levels of the US business

world

• Michael Eisner also has a track record of supporting communities through his philanthropic

foundation

• The combined resources of Michael Eisner and Tornante are sufficient to operate a sustainable

football club at all levels of the Football League

 

:lol: :lol:

 

We have subsequently sought amendments to these items to narrow the primary colours of the Club to the

Blue, White and Red we traditionally play in, and also to remove SO postcode areas and the Isle of Wight

from permissible stadium locations and stipulate that any new stadium should be so a suitable standard for

league football with a minimum capacity of 25,000

 

 

:lol: Imagine the meltdown if they did move to an SO postcode area! Isle of Wight would be very funny indeed :lol:

 

25,000 is rather ambitious for them, no?

 

I haven't read all of it but there is some juicy financial information and projections towards the end - I don't know if this is new or not? Perhaps someone with a bit more know how can dissect it.

Matthew Le God

Matthew Le God

Posted
Posted

This bit is great on page 27...

 

Tornante have also indicated an intention to commit an additional £10,000,000 of equityinvestment into the Club “following completion of the Proposed Transaction”, although thereis no indication of timescale or the legal mechanism or binding nature of that commitment.

:mcinnes: :D

alehouseboys

alehouseboys

Posted
Posted

"sought amendments to these items to narrow the primary colours of the Club to the

Blue, White and Red we traditionally play in"

 

Traditionally, they played in salmon pink (if you're ignoring the fact they've only existed for half a dozen years) and their traditional nickname was the Shrimps. Far more appropriate.

Gemmel

Gemmel

Posted
Posted
Well.......

 

I suppose life down there must be so dire the powers that be are desparate for anything to celebrate.

But an open top bus for coming third in League Two? Wow.......

 

Third in league four, to be accurate

Chez

Chez

Posted
Posted
http://www.pompeytrust.com/userfiles/file/PST%20Voting%20Documentation/ProposedSaleInformationPackforPSTMembers.pdf

 

A highlight:

 

 

 

:lol: :lol:

 

 

 

 

:lol: Imagine the meltdown if they did move to an SO postcode area! Isle of Wight would be very funny indeed :lol:

 

25,000 is rather ambitious for them, no?

 

I haven't read all of it but there is some juicy financial information and projections towards the end - I don't know if this is new or not? Perhaps someone with a bit more know how can dissect it.

So the move to Titchfield is still a possibility, but West of Dibbets corner is safe.

Chez

Chez

Posted
Posted

So he values them at £5.67m. Wonder how many will go for the money back option now and how many will wait ten years for a payment that might be less, might be more.

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