saint si Posted 22 May, 2017 Share Posted 22 May, 2017 12-18 months down the line the fans will be moaning about "lack of investment". The merest hint of someone with money coming along and they'll sell out. So I guess it took a little longer than expected... but the joy of being the biggest fan owned club in the world (or whatever the hell they liked to claim) seemed to wear off quite quickly Link to comment Share on other sites More sharing options...
eurosaint Posted 22 May, 2017 Share Posted 22 May, 2017 So I guess it took a little longer than expected... but the joy of being the biggest fan owned club in the world (or whatever the hell they liked to claim) seemed to wear off quite quickly First bid to come along and they took it ! Principles, eh Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2017 Share Posted 22 May, 2017 Biggest u-turn since the Tories announced a new policy Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 22 May, 2017 Share Posted 22 May, 2017 I thought it would be breaking news in yellow on the Sky sports web site being news from the bestest club in the world but nothing there??????????? Link to comment Share on other sites More sharing options...
Hatch Posted 22 May, 2017 Share Posted 22 May, 2017 Fit and Proper Person test to pass first Link to comment Share on other sites More sharing options...
rallyboy Posted 22 May, 2017 Share Posted 22 May, 2017 Some complex terms to negotiate first! We want this, we want that!!.....er no, this is what I'll give you. Link to comment Share on other sites More sharing options...
Danbert Posted 22 May, 2017 Share Posted 22 May, 2017 The only thing that Eisner has committed to doing, is footing the bill for essential ground repairs that will keep the timber tabernacle from collapsing for a year or two, but won't change the fact that they need a new stadium. Next season nothing material will have changed in terms of their transfer budget or the way the club is run, and they'll soon start moaning. At some point they'll realize that their still up **** creek, only now someone else is paddling. Link to comment Share on other sites More sharing options...
Danbert Posted 22 May, 2017 Share Posted 22 May, 2017 "Together with the PST’s 48.5%, this means 81.4% of the club’s equity holding is in agreement with the sale. The threshold to approve a sale, as laid down in the shareholders’ agreement, is 75%." So, a pretty close run thing. A lot of the Presidents must be sceptical. Link to comment Share on other sites More sharing options...
Pamplemousse Posted 22 May, 2017 Share Posted 22 May, 2017 Liam Buckler @BucklerLiam I think @Michael_Eisner @eric_eisner will be great owners for #pompey. Their track record indicates they will take us to a new level If his track record at Disney is to go by... Link to comment Share on other sites More sharing options...
suewhistle Posted 22 May, 2017 Share Posted 22 May, 2017 Yeah, Pirates of Portsea Island is getting panning reviews.. Link to comment Share on other sites More sharing options...
The9 Posted 22 May, 2017 Share Posted 22 May, 2017 Are they going to redo that OURS picture in the stand with HIS now? I already did it with "F*CK" after they lost their first home game in League Two 4 years ago. It's in here somewhere... Link to comment Share on other sites More sharing options...
The9 Posted 22 May, 2017 Share Posted 22 May, 2017 Hi peeps, I was at Newport v Accrington today, and apart from the collateral damage to James Beattie, it was a wonderful day for Football in League 2. We were all loving the news from Fratton that was filtering through. Anyway, you may have seen they did some hilarious mural pre-match proclaiming "OURS" across the one stand, not true etc but anyway not even the point after today's result... I have had a little photoshop... Well, it WAS this post (#90387, 4th August 2013, they lost 4-1 at home to Oxford to go bottom of League 2 with Newport top)..., but the pics are no longer online and can't be ar5ed to rummage around my HDD for my original photoshop, so I'll just dig out the other pic which is still on here. In a mo. Link to comment Share on other sites More sharing options...
The9 Posted 22 May, 2017 Share Posted 22 May, 2017 Comedy Cocks @CockGraffiti 3m The Portsmouth FC fans make a mistake when holding up their 'ours' cards #Pompey pic.twitter.com/gqiLqGpync This should tide you over. Link to comment Share on other sites More sharing options...
trousers Posted 23 May, 2017 Share Posted 23 May, 2017 Liam Buckler @BucklerLiam I think @Michael_Eisner @eric_eisner will be great owners for #pompey. Their track record indicates they will take us to a new level If his track record at Disney is to go by... Pompey fans in selectively airbrushing history shocker Link to comment Share on other sites More sharing options...
stevegrant Posted 23 May, 2017 Share Posted 23 May, 2017 "Together with the PST’s 48.5%, this means 81.4% of the club’s equity holding is in agreement with the sale. The threshold to approve a sale, as laid down in the shareholders’ agreement, is 75%." So, a pretty close run thing. A lot of the Presidents must be sceptical. I wonder if the 75% threshold would have been met if they had only used the percentage of the trust shareholding that actually voted in favour, rather than the ballot result being used to determine how the entire bloc of shares would vote... Link to comment Share on other sites More sharing options...
hutch Posted 23 May, 2017 Share Posted 23 May, 2017 ...honest and as transparent as ever. They would have needed 86.8% (+1) of trust "shareholders" to vote in favour, which I'm sure they easily surpassed, and no doubt they will be making the actual voting numbers available any minute now. Link to comment Share on other sites More sharing options...
The9 Posted 23 May, 2017 Share Posted 23 May, 2017 I wonder if the 75% threshold would have been met if they had only used the percentage of the trust shareholding that actually voted in favour, rather than the ballot result being used to determine how the entire bloc of shares would vote... The results I saw showed 4/16 "Presidents" voted against the takeover - you know, the "Presidents" who by definition meant that they weren't a fan owned club in the first place. Link to comment Share on other sites More sharing options...
The9 Posted 23 May, 2017 Share Posted 23 May, 2017 (edited) ...honest and as transparent as ever. They would have needed 86.8% (+1) of trust "shareholders" to vote in favour, which I'm sure they easily surpassed, and no doubt they will be making the actual voting numbers available any minute now. Michael Eisner's bid was approved by 1,825 of the 2,272 Supporters' Trust shareholders who voted Caption on the photo in the BBC article: http://www.bbc.co.uk/sport/football/40000639 That's 80.3257% if I'm not awful at maths. Realistically though the High Net Worth "Presidents" vote should be worth lots more than the PST based on investment size, shouldn't they? They shunted it downwards pretty quickly, but I'm fairly sure the HNWs were underrepresented per £ in the first place, to give the facade of fan ownership. BTW Newport County's supporters trust have at least 1500 members, which makes the 2272 the Skates have look positively awful given the relative attendances. Edited 23 May, 2017 by The9 Link to comment Share on other sites More sharing options...
benjii Posted 23 May, 2017 Share Posted 23 May, 2017 Michael Eisner's bid was approved by 1,825 of the 2,272 Supporters' Trust shareholders who voted Caption on the photo in the BBC article: http://www.bbc.co.uk/sport/football/40000639 That's 80.3257% if I'm not awful at maths. Realistically though the High Net Worth "Presidents" vote should be worth lots more than the PST based on investment size, shouldn't they? They shunted it downwards pretty quickly, but I'm fairly sure the HNWs were underrepresented per £ in the first place, to give the facade of fan ownership. BTW Newport County's supporters trust have at least 1500 members, which makes the 2272 the Skates have look positively awful given the relative attendances. No, I don't think that's right. They are all the same category of shares so you can't be "under-represented" in terms of voting rights. The Trust may have been over-represented on the board though. Presumably the Presidents that voted "no" are ones who actually wanted to make a decent profit on their shares at some point. Link to comment Share on other sites More sharing options...
Mr Biscuits Posted 23 May, 2017 Share Posted 23 May, 2017 Those would be the shares that are actually worth something then, as opposed to the donations for which you got a bit of paper with the word 'share' on it Link to comment Share on other sites More sharing options...
saint si Posted 23 May, 2017 Share Posted 23 May, 2017 They got 81.4% for and the Trust was 48.5% of this The the 51.5% attributable to the HNW, 32.9% voted for and 18.6% against (as 81.4 minus 48.5 = 32.9) Of the 48.5% from the Trust voters, we know 1825 of 2272 voted for = 80.3%... ... 80.3% x 48.5% = 38.96% Therefore effectively the votes for was 38.96% + 32.9% = 71.86% So if the trust votes were actually split proportionality in line with how their members voted, it would not have passed the 75% test. But in any case that's all irrelevant. Trust only acts as single entity as part-owner of the football club, so can only vote one way. The ordinary fans (not the HNWs) are shareholders in the Trust, not in the club directly. Link to comment Share on other sites More sharing options...
The9 Posted 23 May, 2017 Share Posted 23 May, 2017 Those would be the shares that are actually worth something then, as opposed to the donations for which you got a bit of paper with the word 'share' on it I can't actually remember what the set up was when they started, tbh. Can someone remind us? One level of share, in what, and is it the same representation for HNW and Trust? ie. was the way the Presidents/HNWs got the majority voting share was by buying shares in the Trust, or investing directly in the club? Link to comment Share on other sites More sharing options...
benjii Posted 23 May, 2017 Share Posted 23 May, 2017 The trust purchased shares in the new football club company with its donations. Each donation was £1,000 and each share was £1,000. The trust had enough donations to buy just over half the shares, I think. The President's bought the rest, again kn the basis of £1,000 per share (but they each own and benefit individually from their shares - there was no collective "Presidents" body). When more money was needed, Presidents subscribed to new shares, of the same class, meaning that the trust shareholding was diluted to under 50%. Eisner has agreed to give the trust and the Presidents £1k for each share. The trust will distribute this money back to the donees in accordance with their individual donations. There's also another offer from Eisner where instead of the £1k now, you get a smaller initial payment but potentially more in the long-run if the club achieves certain footballing targets. Link to comment Share on other sites More sharing options...
hutch Posted 23 May, 2017 Share Posted 23 May, 2017 The presidents own real shares in the football club. The fans own shares in the trust, and the trust owns real shares in the football club. They're all equal. Definitely. Link to comment Share on other sites More sharing options...
stevegrant Posted 23 May, 2017 Share Posted 23 May, 2017 I can't actually remember what the set up was when they started, tbh. Can someone remind us? One level of share, in what, and is it the same representation for HNW and Trust? ie. was the way the Presidents/HNWs got the majority voting share was by buying shares in the Trust, or investing directly in the club? Presidents/HNWs mostly, if not entirely, invested directly into the club itself, and it was this investment that diluted the trust's ownership percentage. All shares were of equal value, whether the shares were worth £1 or £1000 is largely irrelevant, and additional shares for the same value were issued to the HNWs each time they were asked to dip into their pockets. They have all basically sold at cost. Link to comment Share on other sites More sharing options...
The9 Posted 23 May, 2017 Share Posted 23 May, 2017 Cheers, all those descriptions tally and clarify. Link to comment Share on other sites More sharing options...
Jonnyboy Posted 23 May, 2017 Share Posted 23 May, 2017 Fair play if they do all get a grand back, wasn't expecting that. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 23 May, 2017 Share Posted 23 May, 2017 Fair play if they do all get a grand back, wasn't expecting that. Sounds like they will... before "costs". Link to comment Share on other sites More sharing options...
Kingsbridge Saint Posted 23 May, 2017 Share Posted 23 May, 2017 Fair play if they do all get a grand back, wasn't expecting that. They won't have had any interest over the period they have been involved with Pompey Lite though. Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 24 May, 2017 Share Posted 24 May, 2017 They won't have had any interest over the period they have been involved with Pompey Lite though. To be fair, I'm sure the average fan won't begrudge not earning any interest as most of them stumped up the cash with the best of intentions to save the club - fair play to them. The presidents on the other hand.... Link to comment Share on other sites More sharing options...
trousers Posted 24 May, 2017 Share Posted 24 May, 2017 Fair play if they do all get a grand back, wasn't expecting that. If they were a true and decent "community" club, they would all waive the repayment and pass it on to the creditors of the previous football club who lost 96 pence in the pound, just so that a new football club could emerge #oinkoinkflapflap Link to comment Share on other sites More sharing options...
eurosaint Posted 24 May, 2017 Share Posted 24 May, 2017 So the whole shebang has been sold for £5.67mil which is roughly what we'd get for Matt Targett ! Not that I'm gloating, you understand:) Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 24 May, 2017 Share Posted 24 May, 2017 (edited) So the whole shebang has been sold for £5.67mil which is roughly what we'd get for Matt Targett ! Not that I'm gloating, you understand:) He was ripped off if you ask me, what a mug... paid 5.97mil too much he should have waited, he could have got the corpse in a year or less for a quid Edited 24 May, 2017 by ALWAYS_SFC Link to comment Share on other sites More sharing options...
Chez Posted 24 May, 2017 Share Posted 24 May, 2017 BTW Newport County's supporters trust have at least 1500 members, which makes the 2272 the Skates have look positively awful given the relative attendances. isn't it just £10 to become a member of Newport County's supporter trust though? Not exactly comparable is it. Link to comment Share on other sites More sharing options...
Hatch Posted 24 May, 2017 Share Posted 24 May, 2017 If you donated a grand to save your club, then the club was 'saved' and then you got your money back as well.. Thats a pretty much win win. Still hate the c***** though. Link to comment Share on other sites More sharing options...
Jonnyboy Posted 24 May, 2017 Share Posted 24 May, 2017 If they were a true and decent "community" club, they would all waive the repayment and pass it on to the creditors of the previous football club who lost 96 pence in the pound, just so that a new football club could emerge #oinkoinkflapflap Very true. Link to comment Share on other sites More sharing options...
The9 Posted 26 May, 2017 Share Posted 26 May, 2017 (edited) isn't it just £10 to become a member of Newport County's supporter trust though? Not exactly comparable is it. It's £10 a year for NCAFCST but it's only £5 to join PST. Newport's fans acted to save their club BEFORE all the ripping off charities etc once it was realised that the money man wasn't going to put anything in. I'm not expecting any of my £250 back but it is in the T&Cs that the shares can be sold, they're still shares in the Trust not the club though. Edited 26 May, 2017 by The9 Link to comment Share on other sites More sharing options...
Ohio Saint Posted 26 May, 2017 Share Posted 26 May, 2017 Fair play to them. This is probably the beginning of the end of the end that was imminent years ago. They will be around for years to come. The only question now, is in which division? Link to comment Share on other sites More sharing options...
The9 Posted 26 May, 2017 Share Posted 26 May, 2017 Fair play to them. This is probably the beginning of the end of the end that was imminent years ago. They will be around for years to come. The only question now, is in which division? Bottom half Championship with occasional forays down to League One until they find someone to build them a new ground which doesn't cost them a fortune. Link to comment Share on other sites More sharing options...
hutch Posted 26 May, 2017 Share Posted 26 May, 2017 Fair play to them. This is probably the beginning of the end of the end that was imminent years ago. They will be around for years to come. The only question now, is in which division? I think it is only the end of the beginning Link to comment Share on other sites More sharing options...
Mr Biscuits Posted 26 May, 2017 Share Posted 26 May, 2017 Depends if Eisner is serious and knows what he's doing, otherwise it's all going to go horribly funny again Link to comment Share on other sites More sharing options...
Pamplemousse Posted 26 May, 2017 Share Posted 26 May, 2017 I'm hoping that running the skates brings out the control freak in him. That's when the laughs will come. Link to comment Share on other sites More sharing options...
Pamplemousse Posted 26 May, 2017 Share Posted 26 May, 2017 (edited) http://www.portsmouth.co.uk/sport/football/pompey/pompey-face-losing-cook-1-7981536 Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha HAHAHAHAHAHAHAHAHAHAHA Where's that hero/villain swingometer. The fans also seem quite bitter that he's going to a small club like Wigan. Lol. As i have said previously, I didn't rate him, didn't think we'd get promoted under him, certainly didn't like his attitude or his style, and I found his brand of football hard to endure until the final eight or nine games, so I will certainly not shed any tears at his departure I also think Cook will regret this move. It's a slightly downhill sideways move at best. Wigan could be marooned in league one for ages. Personally, I don't like the bloke. He's arrogant, pig headed and they way he's talked about the fans this season is disgraceful. He's just not a very 'professional' guy in front of reporters. When things were tough he was rude to reporters and fans and let's not forget the boring football for 18 months. If Cook does leave after all he said about never leaving then he's not the man we thought he was. He's just a ****** like Redknapp. #Pompey Don't really understand why cook has gone to Wigan when we are just about to start a magical journey �� #smallerclub If managing a team playing in a half empty stadium appeals rather than a rocking Fortress then the man's a fool #Pompey The arrogance of the man if this is true. Let him go is what i say. Never was his biggest fan so ill shed no tears #Pompey. Pompey are twice the stature of Wigan at least. Cannot see Cook leaving and taking such a backward step. Why would Paul Cook leave #pompey to go to a two-bit club with no history like Wigan? If that's the limit of his ambition then good riddance This is where I regret not having a POL account anymore. I bet you Corp Ho is trying to contact Maradona and Riquelme as we speak. Edited 26 May, 2017 by Pamplemousse Link to comment Share on other sites More sharing options...
Hatch Posted 27 May, 2017 Share Posted 27 May, 2017 Poor Pompey. So Eisners son to be the new manager then ! Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 27 May, 2017 Share Posted 27 May, 2017 Poor Pompey. So Eisners son to be the new manager then ! Brad Bobley? Link to comment Share on other sites More sharing options...
Fitzhugh Fella Posted 27 May, 2017 Author Share Posted 27 May, 2017 Loved the comment that they are about to start a 'magical journey'. Delusion at its finest. Link to comment Share on other sites More sharing options...
Chez Posted 27 May, 2017 Share Posted 27 May, 2017 Fans gave him **** for 18 months, kissed his ass for a week then revert back to type. Link to comment Share on other sites More sharing options...
Hatch Posted 27 May, 2017 Share Posted 27 May, 2017 New manager unveiling Link to comment Share on other sites More sharing options...
OldNick Posted 27 May, 2017 Share Posted 27 May, 2017 http://www.portsmouth.co.uk/sport/football/pompey/pompey-face-losing-cook-1-7981536 Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha HAHAHAHAHAHAHAHAHAHAHA Where's that hero/villain swingometer. The fans also seem quite bitter that he's going to a small club like Wigan. Lol. This is where I regret not having a POL account anymore. I bet you Corp Ho is trying to contact Maradona and Riquelme as we speak.This is quite amusing as Corp Ho hated it when I used to call Pompey the Wigan of the south, and it came to pass that they are a slightly bigger club lol Link to comment Share on other sites More sharing options...
Chez Posted 27 May, 2017 Share Posted 27 May, 2017 (edited) Depends if Eisner is serious and knows what he's doing, otherwise it's all going to go horribly funny again The clowns in charge at the moment didn't have a clue, yet they still managed to get promoted three years later. It took Sheff United a long while, but money talks in the end. Edited 27 May, 2017 by Chez Link to comment Share on other sites More sharing options...
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