Pompey Takeover Saga

[Merovingian]

Sorry but the Times & Sun quote him as being a MULTI- millionaire, not a Billionaire!!!

Sorry were still richer than you! :smt040

And a $ billionaire(yours), is less than a £ billionaire(ours).

 

point being no one actually knows and he is not alone in his investment - there is a consortia behind him

 

Things starting already - excellent appointment in getting avram grant back

 

whoever just quoted there is no money in it - is there any real money in any football teams outside of the top 4 ? Not all owners are in for profit !! Yours is not - you won't make money like you used to if you get back to the prem and want to be competetive

[Matthew Le God]

From The Times

 

Even the one widely reported fact about al-Faraj — that he has a large stake in Sabic, the petro-chemical conglomerate that is Saudi Arabia’s largest and most valuable plc — turns out not to be true.

 

Information was forthcoming about his family life — he is 40, has seven brothers and is married with two children — but, in terms of his business affairs, there were only vague mentions of property in the United Kingdom and in Saudi Arabia and of his involvement with a Saudi-based company called Easyway Ltd, which has no international profile whatsoever.

 

No journalist can find anything about this guy so why are Pompey fans so happy? No one has any idea how wealthy or not he is.

[PompeyInReading]

From The Times

 

 

 

No journalist can find anything about this guy so why are Pompey fans so happy? No one has any idea how wealthy or not he is.

 

This is why wer are happy:

 

"There is going to be substantial investment.

 

"We were ready to invest and push things forward six weeks ago so that was a missed opportunity. But there will be funds available in January to ensure we are not at the wrong end of the table come the end of the season."

 

A REAL chance to stay in the prem - are you suggesting we shouldnt be happy?

[Matthew Le God]

SAF said he'd invest and he didn't. This new guy is invisible to professional journalists who can't find anything about him let alone how much he is worth.

[Colinjb]

This is why wer are happy:

 

"There is going to be substantial investment.

 

"We were ready to invest and push things forward six weeks ago so that was a missed opportunity. But there will be funds available in January to ensure we are not at the wrong end of the table come the end of the season."

 

A REAL chance to stay in the prem - are you suggesting we shouldnt be happy?

 

 

Out of interest, do you anticipate that you can 'spend' your way to safety if you are 10 or so points adrift of relief come the beginning of January? Who would you expect to join you ahead of, say Birmingham, Stoke, Fulham or similar now you don't have Redknapp's charm to back up a blank cheque?

[Merovingian]

do you not read anything - is it common in saudi to not state personal wealth or big yourself up. Storrie said he has funds to take us to a next level, we will see if he has. How many times also - its apparently not just him with the dosh, theres a consortium behind him. I am more than happy for the press not to be able to find anything, less they know the better

 

proof is in the pudding and I think we will see the pudding, appointing grant is an excellent addition already

[Clapham Saint]

Something is not "right" with all this. SAF sold his shares for £0 after having them for 40 days. People don't become rich in business doing things like that.

 

Pompey were (reportedly) days away from administration in which SAF would have been left with nothing.

 

He now has an investor who is (apparently) going to inject significant funds into the company he has managed to retain 10% of.

 

Not bad for what appears to be absolutely no outlay.

 

 

Also no matter how much money the new owner puts into the club he will never make it back let alone a profit. Man City and Chelsea can support high crowds and already have large stadia. Pompey have huge debts, a poor stadium and poor attendances 3k below a 20k capacity and a team requiring massive investment just to get 17th.

 

How this will ever turn into a return on investment I don't know. It will take £50 million just to get them safe from administration problems and debt clearance, add to that the cost of a new stadium upwards of £50m, £9m for training complex and we haven't even started on the team yet. Is it worth it for the money 17,000 fans will bring?

 

 

Completely agree.

 

Really it comes down to a couple of options.

 

Either:

 

The new owner is genuinely super super wealthy and sees buying Pompey as an exoense rather than an "investment" and is doing it for the fun and glory of owning a prem team.

 

Or he isn't actually that wealthy and like Gaydamack (or what ever he was called) has spotted some alternative potential which escapes everyone else.

 

If its the former then they are sorted, the latter then the circus continues.

[PompeyInReading]

Out of interest, do you anticipate that you can 'spend' your way to safety if you are 10 or so points adrift of relief come the beginning of January? Who would you expect to join you ahead of, say Birmingham, Stoke, Fulham or similar now you don't have Redknapp's charm to back up a blank cheque?

 

10 points, probably not. 5-10 maybe. Less than 5 and there is a good chance. Currently we dont have one of the three worse squads anyway so you never know we may not be adrift at all.

 

If we fail and go down at least we will have substantial financial clout to compete for promotion.

[View From The Top]

Isn't it strange how the skates have now crawled out of the woodworK?

 

Gutless fookers (a few honourable exceptions) have been AWOL, unable to take the banter methinks.

[mack rill]

SAF said he'd invest and he didn't. This new guy is invisible to professional journalists who can't find anything about him let alone how much he is worth.

 

Its a secret,,,,,every one has em!

[mack rill]

10 points, probably not. 5-10 maybe. Less than 5 and there is a good chance. Currently we dont have one of the three worse squads anyway so you never know we may not be adrift at all.

 

If we fail and go down at least we will have substantial financial clout to compete for promotion.

 

That's no guarantee tho is it, Remember our stripey friends down the road had The Wild Bunch, and 7mill, and they missed the Boat, Oh silly me just remembered, they give it all to George:D:smt033

[Delmary]

http://www.portsmouth.vitalfootball.co.uk/article.asp?a=172955

 

'Our aim is to put a stable foundation in place in all aspects of the business, beginning with the financial restructuring of the club'.

 

So they've not clearing the debt, just restructuring it. Why aren't the new owners clearing the debts? Maybe they don't have the money? :^o

[charliemiller]

Something very very wrong with this Pompey takeover , NO Saudi would ever under any circumstances employ an Israeli .....Especially a Saudi with links allegedly to the Saudi Royal Family.

 

Smells more fishy every day IMHO.

[Verbal]

Something very very wrong with this Pompey takeover , NO Saudi would ever under any circumstances employ an Israeli .....Especially a Saudi with links allegedly to the Saudi Royal Family.

 

Smells more fishy every day IMHO.

 

Ditto. That would play incredibly badly in Saudi. Just as badly as when someone in the middle east works out exactly what the Pompey club badge actually means and where it came from.

[teamsaint]

and why would they leave SAF as executive chairman and with 10%- when as everyone knows the club was on the brink of admin.

 

Why would you do that? For my money SAF was used all the way through by the "new" consortium, although not sure how.

[teamsaint]

Still, at least the new regime have recognised what a great fanbase they have. Certainly a solid base to start filling farton for some of the bigger games.

[View From The Top]

So a Saudi has employed and Israeli Jew?

 

Now that is, quite frankly, bizarre!

[dubai_phil]

Where did the other thread go?

 

As stated (by me on that and others on here)

 

Saudi Citizens would not employ an Israeli as a Director. Sorry, but that is not going to happen, more chance of Osama Bin Laden becoming President of the US.

 

That press release was NEVER dictated by an Arab National.

 

So either this is a front for someone else, or Mark Jacob is wielding more power than he made out. Who is HE?

 

F&PP is one thing, but, as with Notts County, who is the actual beneficial owner?

In theory Abu Dhabi could be in the process of buying all the PL teams under a smoke screen just so that Man City win the League, sorry Skates, but you have a few more days yet, the press won't let this rest until they get some answers, too many sacred cows at the PL could be shown to have mucked up.

 

I hope they have found a solution, but this is as odd as our man Trump playing the game.

[benjii]

Mark Silas Jacob is a lawyer at a firm called Fuglers and a big Spurs fan.

 

Quite possibly a Jew.

 

http://www.fuglers.co.uk/people.html

[Badger]

So a Saudi has employed and Israeli Jew?

 

Now that is, quite frankly, bizarre!

As you say,it is "bizarre".An arab employing a jew as the saviour of the club

 

Mark Silas Jacob is a lawyer at a firm called Fuglers and a big Spurs fan.

 

Quite possibly a Jew.

 

http://www.fuglers.co.uk/people.html

 

A friend of Fialka's perhaps ?

 

If Peter Storrie manages to keep a lid on this then clearly he has missed his true calling and should be redeployed as an EU middle-east peace envoy.

[hypochondriac]

Pompey's new owner Ali Al Faraj is said to be "very supportive" of plans to redevelop Fratton Park as soon as possible.

In a meeting with journalists at the club's ground this afternoon, chief executive Peter Storrie revealed Al Faraj's ambitions for Portsmouth to be a World Cup city in 2018 and to build a new training ground at Lee-on-the-Solent.

 

Mr Storrie said: "He (Al Faraj) has seen the plans and is very supportive of the plans and he's happy with them."

 

But plans for a dream stadium at Horsea Island are currently being shelved by Mr Al Faraj, he said.

 

"He would like to get a stadium quickly so therefore it's going to be Fratton because Horsea Island is going to take a long, long time and could go to public inquiries and God knows what else."

 

Mr Storrie said the club are in the process of revising plans for Fratton Park to incorporate retail and boost capacity to 36,000-seater capacity with the ability to extend to 45,000 with temporary seating in place for World Cup games, which is required by Fifa.

 

Storrie also said he held talks with Portsmouth City Council yesterday to discuss the 2018 World Cup bid and update them on the new ownership.

 

 

Lol so no new stadium for pompey after all!

[Merovingian]

as long as the capacity is increased and the stadium modernised, most fans will be well happy the old girl stays where she is, she'll have more character than your meccano effort lol albeit half empty

[miserableoldgit]

This is why wer are happy:

 

"There is going to be substantial investment.

 

"We were ready to invest and push things forward six weeks ago so that was a missed opportunity. But there will be funds available in January to ensure we are not at the wrong end of the table come the end of the season."

 

A REAL chance to stay in the prem - are you suggesting we shouldnt be happy?

Wasn`t that what SAF has been saying though???:confused:

[miserableoldgit]

According to Radio Solent this morning, neither Hart or the Storrie-Teller were consulted about Grants appointment. They were just informed that it was happening. Make of that what you will.

[Corporate Ho]

Corpy, you won't get Al-Faraj... you are fooked, admit it.....

 

Oh dear Crabby. So, after your post about how far our attendances have dropped in the last two seasons (proven to be completely and utterly wrong) and now this little gem it seems like you're fast turning into a sort of King Midas in reverse figure. Hopefully you're predicing definite relegation for us this season. If so, given your current success rate we might even qualify for Europe.

Except that if you are currently unable to pay the wages I suspect that without further "helping out" you will be in administration soon anyway.

 

Also, although some may argue differently I suspect that you are already as good as down. If this is the case a potential purchaser would be faced with the choice of:

 

a) purchase before administration, probably for £1. Take on all debts.

b) purchase after administration. For more than £1 but debt free (excluding football related debt, transfer fees etc).

 

Given that your debts are reported to be significant I would expect that be would be by far the cheaper and more sustainable option. Buying pre admin would daft.

 

Good prediction Clappers. Oh, hang on . . . .

 

I have it on reasonable authority that Portsmouth Football Club will enter administration by/on 9th November,though it will not be Admin as we know it,alot more convaluted than ours.

I can only take what i have been told on face value.

They do not have the funds to pay the substantial amount owed to various parties on or around that date.

Storrie will take over the club.along with his consortium,eventually.

His consortium will not include any foreign investment,though this may follow at a later date.

nothing really new.TBH.

 

Great stuff. Keep me updated if you hear any more from your impeccable source.

 

Something very very wrong with this Pompey takeover , NO Saudi would ever under any circumstances employ an Israeli .....Especially a Saudi with links allegedly to the Saudi Royal Family.

 

Smells more fishy every day IMHO.

 

Where did the other thread go?

 

As stated (by me on that and others on here)

 

Saudi Citizens would not employ an Israeli as a Director. Sorry, but that is not going to happen, more chance of Osama Bin Laden becoming President of the US.

 

That press release was NEVER dictated by an Arab National.

 

So either this is a front for someone else, or Mark Jacob is wielding more power than he made out. Who is HE?

 

F&PP is one thing, but, as with Notts County, who is the actual beneficial owner?

In theory Abu Dhabi could be in the process of buying all the PL teams under a smoke screen just so that Man City win the League, sorry Skates, but you have a few more days yet, the press won't let this rest until they get some answers, too many sacred cows at the PL could be shown to have mucked up.

 

I hope they have found a solution, but this is as odd as our man Trump playing the game.

 

So, despite direct quotes from Al Faraj you're saying he hasn't bought Pompey because a Saudi wouldn't employ a Jew. Is that correct?

 

Pompey's new owner Ali Al Faraj is said to be "very supportive" of plans to redevelop Fratton Park as soon as possible.

In a meeting with journalists at the club's ground this afternoon, chief executive Peter Storrie revealed Al Faraj's ambitions for Portsmouth to be a World Cup city in 2018 and to build a new training ground at Lee-on-the-Solent.

 

Mr Storrie said: "He (Al Faraj) has seen the plans and is very supportive of the plans and he's happy with them."

 

But plans for a dream stadium at Horsea Island are currently being shelved by Mr Al Faraj, he said.

 

"He would like to get a stadium quickly so therefore it's going to be Fratton because Horsea Island is going to take a long, long time and could go to public inquiries and God knows what else."

 

Mr Storrie said the club are in the process of revising plans for Fratton Park to incorporate retail and boost capacity to 36,000-seater capacity with the ability to extend to 45,000 with temporary seating in place for World Cup games, which is required by Fifa.

 

Storrie also said he held talks with Portsmouth City Council yesterday to discuss the 2018 World Cup bid and update them on the new ownership.

 

 

Lol so no new stadium for pompey after all!

 

No new stadium at Horsea but I think most Pompey fans would prefer to see Fratton redeveloped anyway. Horsea would have looked nice according to the plans but it's way out of the city centre, away from the pubs and bars that people traditionally use pre match.

 

Question for the older Saints on here - if you could have redeveloped Tjhe Dell to a 30,000 capacity would you rather have stayed there ot moved to St Marys?

[spyinthesky]

Welcome back CH.

 

Good to see you are back in positive mode.

 

Look forward to seeing your revised list of new signings.

 

btw I think it is a sensible policy to redevlop FP. Having said that, despite an emotional attachment to the Dell, I am v happy at St Marys. I never,ever, thought we would enjoy decent facilities.It's nice to have decent bar and toilet facilities and not get soaking wet when it rains which I did for many years as a Chocolate Box regular

[Pancake]

Sorry to all you Ho haters, but he is right on the money with his post above. Good luck the blue few with your new structure, my only hope is that we are at teh same level or above you in a few years.

[Merovingian]

So a Saudi has employed and Israeli Jew?

 

Now that is, quite frankly, bizarre!

 

that same saudi has a jewish lawyer as his closest advisor. business is business

[dubai_phil]

 

 

So, despite direct quotes from Al Faraj you're saying he hasn't bought Pompey because a Saudi wouldn't employ a Jew. Is that correct?

 

 

 

 

No I expressly did NOT say that.

 

What I said is a cultural issue. You have to understand that Saudi is home to an extreme form of Islam. The Saudi Government see their role as the protectors of the Faith.

To understand the impact that culture has on the general Saudi view on The West, look up 9/11 and check wher4e most of the bombers came from.

 

Realpolitik and US military bases in Saudi are divisive in Sauid but the Government treads a very fine line all the time - that's one thing but again, the Muslim world's view of the "Plight of the Palestinians" drives their opinion of The Israelis.

 

If Al Faraj is a "serious businessman" within Saudi, what he has just done is the UK equivalent of BNP/EDL appointing an Asian Immigrant as their leader.

 

So, what I said is = It does not make sense

 

Ergo, that requires an explanation

 

because otherwise you will find that the questions start all over again. Which as I also said - I hope does NOT happen

[View From The Top]

that same saudi has a jewish lawyer as his closest advisor. business is business

 

Does that not strike you as odd?

[miserableoldgit]

that same saudi has a jewish lawyer as his closest advisor. business is business

You forgot the "already" at the end of your post.

[Beer_please]

If Al Faraj is a "serious businessman" within Saudi, what he has just done is the UK equivalent of BNP/EDL appointing an Asian Immigrant as their leader.

 

Come on phil, you know as well as anyone that there are a range of opinions within Saudi Arabia from moderate to extreme. Muslims and Jews have lived together and worked together for thousands of years in most countries. There is a huge difference between a moderate Jew and Muslim working together (as they do in most countries) compared with a Zionist IDF fighter working with an Al Qaeda suicide bomber.

 

The Saudi Arabian Royal Family themselves have loads of links to jewish businesses, it is crazy to suggest that no successful Saudi Arabian businessman has any links to Judaism.

 

King Faisal Al-Saud “We, the Saudi Family, are cousins of the Jews: we entirely disagree with any Arab or Muslim Authority which shows any antagonism to Jews; but we must live together with them in peace. Our country (Arabia) is the fountain head from where the first Jew sprang, and his descendants spread out all over the world.”

[anothersaintinsouthsea]

Sorry to all you Ho haters, but he is right on the money with his post above. Good luck the blue few with your new structure, my only hope is that we are at teh same level or above you in a few years.

 

let's wait and see, they've already had one massive false dawn with Al Fahim plus countless new stadia / redevelopment plans that have gone tits up - or have wee forgotten the pictures of Mandaric digging the foundations for New Fratton, the Gunwharf toilet seat or the Tipner Rubbish Bowl?

[Corporate Ho]

let's wait and see, they've already had one massive false dawn with Al Fahim plus countless new stadia / redevelopment plans that have gone tits up - or have wee forgotten the pictures of Mandaric digging the foundations for New Fratton, the Gunwharf toilet seat or the Tipner Rubbish Bowl?

 

Wasn't saying it's definitely going to happen, just that for most Pompey fans, if they were offered a choice of a new stadium at Horsea or a revamped Fratton Park they'd rather stay at Fratton.

[aintforever]

Mr Storrie said the club are in the process of revising plans for Fratton Park to incorporate retail and boost capacity to 36,000-seater capacity with the ability to extend to 45,000 with temporary seating in place for World Cup games, which is required by Fifa.

 

9,000 temporary seats - I would love to see the design for that stadium!

 

Sounds about as feasible as the plans for shifting HMS Warrior and dumping a stadium in the sea.

Edited 8 October, 2009 by aintforever

[benjii]

9,000 temporary seats - I would love to see the design for that stadium!

 

Sounds about as feasible as the plans for shifting HMS Warrior and dumping a stadium in the sea.

 

It would make more sense to have c. 27,000 temporary seats.

[hypochondriac]

I would love to see pompey with a 36,000 seater stadium. After about a season they won't even get close to filling it.

[alehouseboys]

as long as the capacity is increased and the stadium modernised, most fans will be well happy the old girl stays where she is, she'll have more character than your meccano effort lol albeit half empty

 

See we all agree, we've been saying it all along that if you make fartton too big it will be half empty.

 

Other than your promotion and just after, you've traditionally struggled to fill yer ground - even in your "Golden era". How big a ground do you need to fit in 17,000 home fans anyway?

 

 

 

 

...and you gotta larf..."temporary seating"

[View From The Top]

Question for the older Saints on here - if you could have redeveloped Tjhe Dell to a 30,000 capacity would you rather have stayed there ot moved to St Marys?

 

At the time I would have said The Dell but SMS feels like home now and I'm glad we moved, although it did take some time for me to get used to it.

[Merovingian]

See we all agree, we've been saying it all along that if you make fartton too big it will be half empty.

QUOTE]

 

half empty and so what, I have argued and still will it makes no odds how many people turn up - results, trophies and league tables are what matters, not this ridiculous "we have more fans than you" child mentality that comes from BOTH sides

[aintforever]

Do you seriously think it's feasible to build a stadium and leave space for 9,000 temporary seats? Considering a 9.000 seater stand is like one end of Elland Road or Villa Park.

[Scummer]

Do you seriously think it's feasible to build a stadium and leave space for 9,000 temporary seats? Considering a 9.000 seater stand is like one end of Elland Road or Villa Park.

 

Yeah I can't really work out what they are talking about. You'd have to take the roof(s) off or something. They will be very limited for space on that site as well, especially as they are still planning on sticking a supermarket there as well.

[Matthew Le God]

9,000 temporary seats - I would love to see the design for that stadium!

 

The London 2012 Olympic Stadium will have 55,000 temporary seats.

 

It is likely to be reduced from 80,000 to a 25,000 stadium after 2012.

 

 

 

 

Although even with 36k and 9k temporary seats after the World Cup Pompey will never get close to 36k once the temporary seats have been removed.

Edited 8 October, 2009 by Matthew Le God

[OldNick]

Sorry to all you Ho haters, but he is right on the money with his post above. Good luck the blue few with your new structure, my only hope is that we are at teh same level or above you in a few years.

Funny how the Skates stick together and never argue against their own.Then we have of ours on here....

[aintforever]

The London 2012 Olympic Stadium will have 55,000 temporary seats.

 

It is likely to be reduced from 80,000 to a 25,000 stadium after 2012.

 

But it's not going to be used as a 25,000 seater, then enlarged, then reduced again - which is what the skates idea is.

[Matthew Le God]

But it's not going to be used as a 25,000 seater, then enlarged, then reduced again - which is what the skates idea is.

 

How is that relevant?

[aintforever]

How is that relevant?

 

Of course it's relevant, they either have to remove a roof and build a temporary second tier on top then revert it backor leave enough space around the ground to build a temporary stand the size on one end of Elland Road.

 

Of course it's achievable but I would suspect it would be more cost effective to just build a 40,000 seater.

[Matthew Le God]

I think it doesn't matter anyway as there is no need for Pompey to even have a 36k stadium let alone 45k.

 

They should build something like a 28k stadium which will more than suit their needs and let Southampton have the World Cup bid

Edited 8 October, 2009 by Matthew Le God

[Scummer]

You don't need to have a roof on a World Cup Stadium. Then could just add it once the World Cup is over at 36k capacity.

 

So they'll have 10 years without a roof on their ground? I guess they've got previous........

[slickmick]

With all these mega-bucks they must have, I'm surprised they haven't re-signed Sol Cambell, as he is a free agent now.