Pompey Takeover Saga

[Wes Tender]

I was listening to the Ken Bruce show this morning on Radio 2. They were discussing the 3rd highest win in the UK for the Euro Millions jackpot and what people would do with it had they won the £110 million.

 

Some ignorant wag phoned in to say that if they had a win on the lottery, they'd buy Portsmouth Football Club. And that if they had four numbers, they'd also buy Southampton Football Club.

 

Apart from the stupidity shown in the belief that had they bought the Skates for £10, they'd somehow not have to inject any further money into the almost bottomless pit to keep the club going, with players' wages and the other expenses, their ignorance of our situation must be blissful to them. I did consider phoning in to inform the tosser, through the programme, that in terms of the wealth of our owners we sat number five in British football, ahead of the people who own ManUre and Liverpool. But then again, I thought that it suits us quite well for there to be this general ignorance of our position.

[stevegrant]

Ah fair enough. I knew the £20m went in as a loan but presumed it was after the purchase. So they basically bought the club for naff all then loaned the club the money and made a deal with the creditors to wipe the debt's?

Yep, basically, although the events almost certainly didn't occur in that order, as they wouldn't have agreed the deal to buy the club without having negotiated terms with Aviva and Barclays first.

 

I didn't check on how much we spent rebuilding the team but I guess it was still out of the initial loan as ther has been no mention of any extra loans or payments into the club. I wonder how the training ground developments are being funded?

Well as far as I'm aware, those developments haven't actually begun yet, so I guess there's no need to worry too much about where the funds are coming from right now as nothing's being spent on it.

[Chez]

PMSL. £11m? Did you balls! O'Neill was up to £5m. Begovic up to £3.25m, minus the £1m you have to pay Spurs for the privilege of selling his to Stoke (LOL). Wilson (who doesn't even count as you signed him when he was 17 - what kind of Academy is that?) went for £3.75m plus Lawrence plus Kitson, did he?

 

 

Comedy Gold.

 

oh, and the O'Neil sale was over 4 years ago

[Saint Lindford]

Originally Posted by spyinthesky

In reply to Mr Ho's posting re Saints financial position.

First of all I am glowing with pride that with a relatively modest outlay £1.8m for Fox and £750k for Cork we are currently well placed ahead of a rival club who appears to have spent more.

 

1. The money for Fox and Cork is just what you've spent this season. Let's not forget the amount you spunked to get out of L1 that the Liebherr's will probably want back

 

 

Originally Posted by gaz

Apart from tarting up the toilets, those Ruskies haven't looked that interested in their latest investment.

 

2. As I pointed out, they spent more than your owners this close season so how are they "not looking interested"?

 

Make your mind up, it is either this season and last season or just this season?

 

Which ever it is we have done far better for less......... LOL

[dubai_phil]

I have been told that Markus loaned the club £20 mil after purchace which is what funded us re-building the team. It was mentioned that by loaning the club the money there were certain tax advantages and so on and that there are ways to later wright off the loan but unfortunatly we lost Markus before we could find out if that route would be taken. How that now works out with his family I dont know but I think thats the money Corpse is refering too.

 

If I had the kind of money that the family had and was left with a business that is doing well and growing rapidly within touching distance of the prem riches I dont think I would be too concerned about the loan that was initially setup to set the wheels in motion. If I were to want it back I would be looking at taking it when the business is maximising proffits and self sufficiant. But I am lucky to have 20 quid in the bank so what do I know?

 

Anyone buying a struggling business will be doing so believing that they can turn it around. Any sensible business person will only buy a struggling business that they know that they can turn around. Money will only be of no object if the proffits will definately exceed the outlay. That might give an indication on where the 2 clubs owners see the businesses thay have bought. 1 has a large investment and plans that would require much more investment, the other is still on a bare bones squad and can look forward to hot water in the lady's lavs and a new clock..

 

This thread has much more legs than the odd skate might think.

 

Just to put the record straight on this thread at least.

 

There was a Solent Interview with NC where fans were asked to send in questions. Thanks to the moral ground that the few had given us I sent in a question as I was (at the time) also concerned about our finances, was it loans, was it bank guarantees etc.

 

NC was VERY specific in his reply. It was NOT debt.

 

So we must be careful NOT to confuse so Accountancy day 1 points. Share value and funding

 

The Liebherr family will have very clear concepts of what SFC are currently worth to them vs what they have paid, so many rumours went to die about us being bought.

 

A sceptic COULD say that AOC went for the same price that Marcus paid for the club, so maybe NC paid the family back.

 

BUT the key point is? This thread saw 2 years ago that poopey were insolvent way before they convinced the Courts & EPL that they were still solvent. Meanhile however you view our finances loans grants or whatever, SAINTS are solvent

[dubai_phil]

Oh and just to annoy the Troll.

 

He talked about the family wanting their 20 mil back

 

NC turned down 25 mil in the close season.

 

HTH

 

And feck no I won't tell you on here who from or my source. Let the troll rant, and if you ain't had a PM or ain't a regular on here then feck you no I won't tell you either, but enough know to be able to realise that the troll is just full of sh1t. Oh and yes there is a Digital Forensic trail that anyone with a basic understanding of IT security could have found once the clowns went onto FB, and no none of you have bought that software yet and yes it did scare Symantec & McAfee to death this week down here

 

And for the second time on this thread I retire with an

[Weston Super Saint]

Oh and just to annoy the Troll.

 

He talked about the family wanting their 20 mil back

 

NC turned down 25 mil in the close season.

 

HTH

 

And feck no I won't tell you on here who from or my source. Let the troll rant, and if you ain't had a PM or ain't a regular on here then feck you no I won't tell you either, but enough know to be able to realise that the troll is just full of sh1t. Oh and yes there is a Digital Forensic trail that anyone with a basic understanding of IT security could have found once the clowns went onto FB, and no none of you have bought that software yet and yes it did scare Symantec & McAfee to death this week down here

 

And for the second time on this thread I retire with an

 

Phil, sadly I think you have finally lost the plot!

 

TBF to us, not many of your posts make a great deal of sense, but this one truly takes the biscuit! WTF are you on about! Sounds like something out of conspiracy theory, the next generation!

 

Perhaps avoid posting when bladdered and suffering sleep deprivation?

[dubai_phil]

Phil, sadly I think you have finally lost the plot!

 

TBF to us, not many of your posts make a great deal of sense, but this one truly takes the biscuit! WTF are you on about! Sounds like something out of conspiracy theory, the next generation!

 

Perhaps avoid posting when bladdered and suffering sleep deprivation?

 

 

Where you read that from yep agree totally. Another madly insane post

 

But it will be relevant one day when the book gets written.

 

Half seen glimpses become snippets. Snippets become trails, trails become new stories.

 

Trouble (and joy) of this thread is knowing which glimpses may lead somewhere.

 

At the moment some of the last few pages indicate that again all is not well.

 

Of course that is total speculation by us, but discount deals, Clotrill in talks.

 

DO those (what are now snippets) lead back to the glimpse that CSI may have only come in with their Bompey Budget? Or was it something else such as - DD failure?

 

Sometimes the glimpse has been spot on - the broke Emirati Al Fahim (not Al Mirage) and of course finding that even the Chamber of Commerce in Saudi had never heard of the billionaire buyer al Mirage.

 

Sometimes the glimpses are way off. Maybe this time also.

 

But so far the past few pages indicate there could be budgetary problems (toilets can be So expensive)

 

If this is the case then maybe one other little glimpse could be waiting in the wings to develop further. (Hell they did talk about it on TV)

 

What IS funny is the way that these glimpses come from the most unexpected areas or sources. A Drunken Jock in a bar last Tuesday watching his team get mullered by Spain. The obvious consoling line was - "Never mind could be worse, you could be a skate" - nearly got me killed - he was, complete with Tattoos to prove it.....

 

And what industry did he work in? Let's call it reverse IT Security.

 

Or maybe I lost the plot

[rallyboy]

well that's cleared all that up then.

 

While Ho tries to bore the thread to death, Phil encourages Ho to suffer a mental breakdown by attempting to make sense of all the clues.

[dubai_phil]

well that's cleared all that up then.

 

While Ho tries to bore the thread to death, Phil encourages Ho to suffer a mental breakdown by attempting to make sense of all the clues.

 

Oh come on. You made one hell of a false assumption there.

 

You assumed that Ho had sanity in the first place in order to have a mental breakdown.

 

So where were we?

 

Snotrill's on the move? or is it a cunning plan to claim expenses for interview travel to help out with the finances?

 

Surely a trip up to the Midlands or Brizzle could bring in as much cash as 5 or 600 extra fans through the gate at the bogof prices they have to charge to get anyone to the games....

[Corporate Ho]

Yes of course they will want their money back and as of now, they will get a lot more. It is perhaps the reasons, that we were a viable (Albeit calculated risk) proposition, that would lead people to question the motives of those who have taken over pompey (Given their public declaration they are in it to make money)

 

 

For 13 million pound you could buy a league one club, with a 10 point deduction, starting life in League one, with a limited squad. On the plus side, all debt was erased (Through the 13 million) there was fantastic infrastucture (Stadium, Training Ground, Property & Land) and the attendances were positive given the clubs position.

 

For 17 million you could buy a Championship side, with 8 players, no training ground, an uncertified dump of an arena, 25 million pounds worth of debt (Over and above the 17 million paid) Arrendances that were falling quicker than a hoars knickers and subject to ongoing court cases, forensic accounting investigations and enquirys from the insolvency commission and for the cherry on top, the car park and key land is owned by someone else and a previous promise of all money owed under 2k to be repiad in full, has fallen on the russians lap. On the plus there is the some parchute money left and chinny came good on the 20 tv's.

 

Now of course it helps if you have the money upfront, but so far the Liebhers have spent 24 million (As of last years accounts) to be where we are now. When you think that the Chamberlain deal (When fully paid) up is more than they paid for the club in the first place, then you can start to see the value of their investment. Even is they started sellling off players, the squad itself is worth 20 million, plus the land, Plus the houses, Plus the stadium, plus the training ground etc etc. I would say they are conservatively 20 million quid up so far (Probably a little bit more) plus they have a real chance of more than doubling that with their current squad, plus a couple more as loans or January.

 

 

I said of course it helps if you have the money upfront and based on chinnys squealing, the russians didn't like that idea, so have their spread purchase over installments. So they are now left with a club, with a small squad, 25 million ponds of debt, hovering above relegation, attendances still falling, firesales on merchandise and ticket offers, ongoing court cases, forensic accounting investigations and enquirys from the insolvency commission, plus, the car park and key land is still owned by someone else and likely they have to shell out on chinnys promise. With the money thrown in so far, they are bleeding money already and the chance of rolling that magic double six, that would get them to the prem money is nothing more than a pipe dream.

 

Go ahead corpy - which one would you want

 

Oh, you've got the better infrastructure, there's no arguing that. But to be fair it's taken £24m (and that was the accounts for the year before last, nor last year’s remember) to get you where you are today (plus of course the cost of players you’ve bought). That's not to mention the losses per year (£8m yr1, presumably more losses last year) so it's not quite as rosy as you make out. If they wanted to sell and make a profit you’ve got the £24m they paid, plus transfer fees (£10M?) plus two years of losses (£14m) so you’re looking at them needing a price of £50m just to break even. Not sure about your valuation of the land at the training ground – would anyone get planning permission there? Plus, of course, you only own half of it. I’m not knocking what you wrote, just balancing things out.

Of course, we don't actually know if CSI DID pay £17m for Pompey – that’s just a price that was bandied around in the press. They may have taken it for a small price after agreeing to take on the debt. Chinny never paid anything for the club and seems to have smuggled out cash while Azougy was here so he's not going to be out of pocket, we'll probably never know. The car park land is a massive red herring, because unless CSI (or whoever) plan to expand/ redevelop the ground the land is of no use whatsoever. Gaydamak is sitting there with a mortgage on it getting little or no return. He can’t sell it to anyone else because it’s no use to them as any application for planning permission would be denied by PCC and tied up for years in legal actions. I’m not even sure you’re right about why CSI bought us. I think they just wanted a club to add to their sporting portfolio. They’ve already said they won’t be investing massively on the playing side of things and are looking long term. I know you lot are wetting yourself thinking things are going to go tits up in the immediate future but it’s hard even for you to deny that they’re decent businessmen looking at the various businesses they’ve built so why would they take on PFC to collapse it so quickly? That just doesn’t make sense

 

You are full of ****. when was £20 million loss reported. Give up and **** off you smelly ****

 

You didn't actually read what I wrote, did you?

 

[

I was listening to the Ken Bruce show this morning on Radio 2. They were discussing the 3rd highest win in the UK for the Euro Millions jackpot and what people would do with it had they won the £110 million.

 

Some ignorant wag phoned in to say that if they had a win on the lottery, they'd buy Portsmouth Football Club. And that if they had four numbers, they'd also buy Southampton Football Club. I thought that it suits us quite well for there to be this general ignorance of our position.

 

When was your sense of humour bypass carried out? Jesus Christ

 

oh, and the O'Neil sale was over 4 years ago

 

O'Neil joined Middlesbrough on 31st Aug 2007. So technically you're right, it was four years and 6 weeks ago (sigh)

 

Oh and just to annoy the Troll.

 

He talked about the family wanting their 20 mil back

 

NC turned down 25 mil in the close season.

 

HTH

 

And feck no I won't tell you on here who from or my source. Let the troll rant, and if you ain't had a PM or ain't a regular on here then feck you no I won't tell you either, but enough know to be able to realise that the troll is just full of sh1t. Oh and yes there is a Digital Forensic trail that anyone with a basic understanding of IT security could have found once the clowns went onto FB, and no none of you have bought that software yet and yes it did scare Symantec & McAfee to death this week down here

 

And for the second time on this thread I retire with an

 

Dubya, quite apart from the bizarre nature of your post making it seem like the CIA have been waterboarding you for a few days, I'm not surpised if they turned down £25m for you. Looking at what they paid, the losses they're currently supporting and the cost of player transfers and wages why would they have taken a loss? £20m was just their initial investment. The question is, how long are they prepared to keep funding you at the current rate and at what point do they pull the plug if they don't reach the PL? This year? Next year? Even if you do go up how long before they cash in? And who buys you then? Could be another Mansour. Could be another Carson Yeung.

 

 

Where you read that from yep agree totally. Another madly insane post

 

But it will be relevant one day when the book gets written.

 

Half seen glimpses become snippets. Snippets become trails, trails become new stories.

 

Trouble (and joy) of this thread is knowing which glimpses may lead somewhere.

 

At the moment some of the last few pages indicate that again all is not well.

 

Of course that is total speculation by us, but discount deals, Clotrill in talks.

 

DO those (what are now snippets) lead back to the glimpse that CSI may have only come in with their Bompey Budget? Or was it something else such as - DD failure?

 

Sometimes the glimpse has been spot on - the broke Emirati Al Fahim (not Al Mirage) and of course finding that even the Chamber of Commerce in Saudi had never heard of the billionaire buyer al Mirage.

 

Sometimes the glimpses are way off. Maybe this time also.

 

But so far the past few pages indicate there could be budgetary problems (toilets can be So expensive)

 

If this is the case then maybe one other little glimpse could be waiting in the wings to develop further. (Hell they did talk about it on TV)

Or maybe I lost the plot

 

Well, you got Faraj right two years ago. What have you got right since then? CSI dropping Pompey to buy Bournemouth was it?

 

You've mentioned their budget again here. Can you please just once stop running scared an answer me why you think the budget they allocated last year will be exactly the same this year? Let's face it Dubya, you only started calling me The Troll when I started calling on you to back up some of the absolute grade A ****e you spout on here, including your embarrassing gaff in thinking Antonov owned SAAB. You don't annoy me Dubya, I find your desperate scrambling to try and claw back your own sense of superiority incredibly funny. That's why I keep asking the question - because it's so much fun watching you squirm away from answering it

[stevegrant]

But to be fair it's taken £24m (and that was the accounts for the year before last, nor last year’s remember) to get you where you are today (plus of course the cost of players you’ve bought). That's not to mention the losses per year (£8m yr1, presumably more losses last year) so it's not quite as rosy as you make out. If they wanted to sell and make a profit you’ve got the £24m they paid, plus transfer fees (£10M?) plus two years of losses (£14m) so you’re looking at them needing a price of £50m just to break even. Not sure about your valuation of the land at the training ground – would anyone get planning permission there? Plus, of course, you only own half of it. I’m not knocking what you wrote, just balancing things out.

You appear to have looked in the wrong place for the figure Liebherr invested.

 

The total amount on the group balance sheet for creditors is £24.3m, but the figure for "Loan from shareholder" is £20.4m.

 

It's my belief that, in the 2010/11 season, we will have once again made a loss, but a significantly smaller loss than the previous period. The squad was trimmed significantly, with 12 players with first-team experience leaving the club (Wayne Thomas, for example, was on £9k a week - quite a saving getting him off the wage bill), and only three new players joining last summer (combined outlay of £400k, solely for Fraser Richardson). We then added Forte, Chaplow and Stephens for a combined £300k later in the season and released Paul Wotton Football Genius. Attendances and ticket prices were raised - 20,982 up to 22,161, and we had another half-decent cup run with a TV game against Man United. On the downside, the outlay on win and promotion bonuses will be pretty big, not to mention somebody's personal expenses account.

 

My estimate for last season is a loss of £3.5m. That loss will almost entirely be covered by the increase in TV money given to clubs as standard in the Championship. This season, wages will be higher for many players, but attendances and ticket prices have again increased to match.

[hutch]

My estimate for last season is a loss of £3.5m. That loss will almost entirely be covered by the increase in TV money given to clubs as standard in the Championship. This season, wages will be higher for many players, but attendances and ticket prices have again increased to match.

Out of interest, does anybody have a figure for what Champ. clubs receive this season? I have a figure in mind of just over £5m combined for TV rights and "consolidation" or "equalisation" payments from the PL (I think that's the bits of parachutes left behind by clubs like Newcastle that get promoted early).

 

Is that about right?

[stevegrant]

Out of interest, does anybody have a figure for what Champ. clubs receive this season? I have a figure in mind of just over £5m combined for TV rights and "consolidation" or "equalisation" payments from the PL (I think that's the bits of parachutes left behind by clubs like Newcastle that get promoted early).

 

Is that about right?

There won't be any additional money being distributed this season as QPR, Norwich and Swansea weren't among those who were receiving parachute payments, and last season was the first year of the new 4-year parachute deal, so previous years will be irrelevant.

[Corporate Ho]

You appear to have looked in the wrong place for the figure Liebherr invested.

 

The total amount on the group balance sheet for creditors is £24.3m, but the figure for "Loan from shareholder" is £20.4m.

 

It's my belief that, in the 2010/11 season, we will have once again made a loss, but a significantly smaller loss than the previous period. The squad was trimmed significantly, with 12 players with first-team experience leaving the club (Wayne Thomas, for example, was on £9k a week - quite a saving getting him off the wage bill), and only three new players joining last summer (combined outlay of £400k, solely for Fraser Richardson). We then added Forte, Chaplow and Stephens for a combined £300k later in the season and released Paul Wotton Football Genius. Attendances and ticket prices were raised - 20,982 up to 22,161, and we had another half-decent cup run with a TV game against Man United. On the downside, the outlay on win and promotion bonuses will be pretty big, not to mention somebody's personal expenses account.

 

My estimate for last season is a loss of £3.5m. That loss will almost entirely be covered by the increase in TV money given to clubs as standard in the Championship. This season, wages will be higher for many players, but attendances and ticket prices have again increased to match.

 

Steve, ref the £24m figure, I was quoting what gemmel said in his post below:

 

so far the Liebhers have spent 24 million (As of last years accounts) to be where we are now.

 

And whilst you dumped twelve players, my lovely Transfermerkt.com website (I know it's not the bible but it's usually not too far off) says you bought Chaplow for £800K, Guly for £500K (plus a loan fee before the permanent deal) Richardson for £475K, Forte for £200K, Stephens for £150K and Dickson for £130K which makes £2.6m including the loan fee (plus presumably higher wages than many of those they replaced). So that would take your loss estimate up to £5m. I guess we'll see when the accounts are published (and you can get accused of having an anti Cortese agenda when you post them)

 

Talking of wages, someone on POL was told that one of your corporate guests ws recently told that Lambert and Barnard are both on around £25K a week. Any idea if that's true?

 

Out of interest, does anybody have a figure for what Champ. clubs receive this season? I have a figure in mind of just over £5m combined for TV rights and "consolidation" or "equalisation" payments from the PL (I think that's the bits of parachutes left behind by clubs like Newcastle that get promoted early). Is that about right?

 

I read that it's £2.5m basic TV money plus additional for every live game. I included that in my fascinating round up of Pompey's estimated income this season

[Matthew Le God]

Chaplow for £800K

 

He cost £50k (confirmed by the Preston chairman)

 

Out by £750k is quite a margin of error on your part there!

[rallyboy]

Ho me old mucker

just putting aside the amusing image of the CIA waterboarding Phil in his orange boiler suit, just to gain access to his busy mind - I'm not sure I follow the idea that the Liebherr family will want £50M just to break even....

 

Can you just run those figures past me again, perhaps with a little more detail....

[anothersaintinsouthsea]

Talking of wages, someone on POL was told that one of your corporate guests ws recently told that Lambert and Barnard are both on around £25K a week. Any idea if that's true?

 

Brilliant so someone told you on POL who was told by someone else who was told by someone else again about Barnard and Lambert's wage packet. Well I grant you that is powerful evidence!

 

In any case £12.5k a week each doesn't sound too pricey.

[stevegrant]

And whilst you dumped twelve players, my lovely Transfermerkt.com website (I know it's not the bible but it's usually not too far off) says you bought Chaplow for £800K, Guly for £500K (plus a loan fee before the permanent deal) Richardson for £475K, Forte for £200K, Stephens for £150K and Dickson for £130K which makes £2.6m including the loan fee (plus presumably higher wages than many of those they replaced). So that would take your loss estimate up to £5m. I guess we'll see when the accounts are published (and you can get accused of having an anti Cortese agenda when you post them)

 

I look forward to that. Should be fun, especially when the "directors salary" section is revealed. I knew there must have been a reason I hadn't been invited to any of the entirely-random-and-in-no-way-filtered "secret" dinners.

 

Dickson's fee was only about £100k I think (splitting hairs, I know) with loads of add-ons based on appearances, the thresholds of which I doubt he's made yet. There's absolutely no way we paid £200k for Forte, being generous it would have been barely half that amount, as he was in the last year of his (presumably low-value) contract at Scunny. Chaplow was £80k, PNE were desperate to get him off their wage bill.

 

Talking of wages, someone on POL was told that one of your corporate guests ws recently told that Lambert and Barnard are both on around £25K a week. Any idea if that's true?

Lambert's probably not far off that when all the various bonuses are taken into account, but Barnard won't even come close. He was given a new contract in the summer, but that was also in the backdrop of his court case, so his bargaining hand won't have been particularly strong at that stage.

 

I read that it's £2.5m basic TV money plus additional for every live game. I included that in my fascinating round up of Pompey's estimated income this season

Sounds feasible. I think the per-match figures are £75k for home games and £50k for aways. We missed out on the Birmingham cash as the game had to be switched to the Sunday due to their Europa League commitments, but have already played Leeds on TV and have another home game against Blackpool scheduled, with away games at Reading and yourselves. The individual games don't really make much, though - if anything, they probably just cover the lost cash from those who might have gone to the game had it not been on TV.

[JackFrost]

He cost £50k (confirmed by the Preston chairman)

 

Out by £750k is quite a margin of error on your part there!

 

Surely Ho isn't Peter Storrie?

[View From The Top]

Greg Halford is also on £20k per week.

 

My Wolves oppo told me once the transfer was done. He took a paycut to go there.

[anothersaintinsouthsea]

Greg Halford is also on £20k per week.

 

My Wolves oppo told me once the transfer was done. He took a paycut to go there.

 

That doesn't sound in any way credible. On the other if you'd have said someone that you know was told by someone else who a Wolves corporate guest who was told by somone else again then I'd find it a lot more believable.

[Frank's cousin]

Steve, not being an accountant, I do have a question... as I understood it, the 24 mil included the original 13 mil purchase price or creditor repayment. A 'leveraged' purchase but with it being a loan from the owner. The question I and many have is whether this is actually 'debt' as such or whether its on the books as a loan should the club ever be sold and thus be repayed without being subject to any captital gains tax on the increase in value of the club... a normal accounting practice as I understand it... although I may be wrong. We were also told that there was 'provision' left by Marcus in his will for developing the club... such as the the academy development. Capital expenditure projects that were in addition to any 'running the club within its means' - would this investment be added to the 'loans' or 'gifted' etc as the return on this investment would come from the additional value it creates if the club was ever sold... Interesting stuff, but for me the biggest difference between us and pompey, is that we have an owner who has always manged his business growth within very strong ethical and moral codes of practice.. who has grown hiis businesses without using any external/3rd party financial resources.

 

Our 'debt' or 'losses' to date, are in effect 'investments' by the owner to ensure an increase in value of his business/assets based on 'growth' or in this case promotion - so I am comfortable with that especially as we have have not gone mad with spending like Leicester etc. Yes it has given us a competitive advantage, but whatever some may feel, its still relatively modest.

[Wes Tender]

Originally Posted by Wes Tender

I was listening to the Ken Bruce show this morning on Radio 2. They were discussing the 3rd highest win in the UK for the Euro Millions jackpot and what people would do with it had they won the £110 million.

 

Some ignorant wag phoned in to say that if they had a win on the lottery, they'd buy Portsmouth Football Club. And that if they had four numbers, they'd also buy Southampton Football Club. I thought that it suits us quite well for there to be this general ignorance of our position.

Corpse Ho

When was your sense of humour bypass carried out? Jesus Christ

Did you find that funny? Really? Jokes like that are only funny if there is some accuracy to them, something which was missing, because the cheeky little imp obviously had no up to date information regarding our more recent ownership. But if that was considered funny by you, then I suspect that my sense of humour bypass operation was carried out at a simultaneous time to your frontal lobotomy.

[View From The Top]

That doesn't sound in any way credible. On the other if you'd have said someone that you know was told by someone else who a Wolves corporate guest who was told by somone else again then I'd find it a lot more believable.

 

Sorry, it was only the senior administrator. Next time I'll ask the guest of a guest who once bought a pie in the Billy Wright Stand.

[Tamesaint]

Has anyone else noticed how Corp's posts have changed - and I don't just mean that he is no longer telling us "if the rumour about where the money's coming from (and how much of it there is ready to be used on players and improving the club) are true you lot are going to be pig sick." (see post 143 on this thread written a long time ago but rather funny knowing what we know now).

 

He seems to have given up trying to tell us that Pompey are not financially fcked and how they can break even on their crowds of 14k. Instead he seems to have turned his attention to Saints and telling us things that we never knew about our team - like Lambert threw a wobbly because he didn't go to Newcastle. That we do not own our training ground. That Barnard is on £25k a week. I daresay next week we will learn that Marcus Leibher was a Nazi tank driver or that Adkins is really a Pompey fan or some other such rubbish dreamed up in the pubs of Portsmouth. Its almost as if he wants to divert our attention from the mess at Pompey.

 

My guess is that as December 18th draws closer, the number of Corp Ho's posts will reduce. He will probably go into hiding again making a brief appearance to tell us nonsense such as Richard Chaplow is David Armstrong's secret lovechild or that Cortese eats babies with his spaghetti and pizza.

 

You never know , perhaps he now agrees with Fitzhugh Fella that Pompey are heading for the precipice and financial disaster!!

[gaz]

Can Pompey even afford to keep Cotterill?

 

If he goes, it'll pay the wage bill - they need the cash desperately and the income from the gates doesn't cover it.

If he stays, they can't afford to sack him with the associated costs of terminating his contract.

 

But with him staying, they'll be......toast.

[Jimmy_D]

Aye, it does seem like he's trying to deflect attention from how obviously the figures don't add up at Pompey by trying to suggest that there's trouble ahead for Saints...

 

Corp, the figure of £24M was an estimate of the Liebherrs' total outlay on the club, not a figure you can lump on to the rest of the estimates to suddenly say we're £50M in debt.

 

The Liebherrs have a policy of not running in debt, and we have no debts except to the Liebherrs themselves. Money like that I'd see more as investment than debt, they have a vested interest in seeing us do well, as it increases the chances of a return on their investment. That along with Cortese's claims that if they walked away tomorrow, he could bring someone else equally wealthy in, and I'm very very relaxed about our financial situation. I admit we were lucky to find such a fantastic owner, but we did actually get that luck, and this is the situation we find ourselves in now.

 

This is completely opposite to the methods of Pompey's last few owners, who have loaded the club up to the eyeballs with debt, and avoided paying bills to anyone, including the taxman, charities, and even your own tealady, in an attempt to avoid losing money themselves, and turned the club completely toxic in a financial sense in the process. In fact, with the debt to the taxman you had, each and every Saints fan in the country owns about 50p's worth of your precious FA Cup. The administration process removed some of that toxicity, but you still have liabilities relating to that debt. The jury is still out on your current owners. Is there any evidence they've put any money into the club themselves? Yes you spent money in the summer, but a combination of having a squad of eight players and all the season ticket money coming in will mean the club will have had cash on hand, which might have been what was spent despite being needed for liabilities later in the season? The club have talked about improvements to the training facilities, all while failing to mention Pompey don't own the training ground and it's not them spending a penny on the upgrades. Then of course there's the pittance that's being spent on the stadium to scrape it past health and safety inspections. Surely if they're interested in investing money in the club, surely the stadium, with the state it's in, is somewhere where a small amount of money (a similar amount to that spent on players for example) could go a very very long way?

[Weston Super Saint]

I know you lot are wetting yourself thinking things are going to go tits up in the immediate future but it’s hard even for you to deny that they’re decent businessmen looking at the various businesses they’ve built so why would they take on PFC to collapse it so quickly? That just doesn’t make sense

 

FPMSFL, ROFLMFAO

 

Decent businessmen indeed ROFLMFAO

 

Let's just pick one company they own, Snoras bank.

 

Why is it that such 'decent businessmen' running [presumably] decent businesses, are unable to get a licence to operate their 'bank' in the UK?

[dubai_phil]

Has anyone else noticed how Corp's posts have changed - and I don't just mean that he is no longer telling us "if the rumour about where the money's coming from (and how much of it there is ready to be used on players and improving the club) are true you lot are going to be pig sick." (see post 143 on this thread written a long time ago but rather funny knowing what we know now).

 

He seems to have given up trying to tell us that Pompey are not financially fcked and how they can break even on their crowds of 14k. Instead he seems to have turned his attention to Saints and telling us things that we never knew about our team - like Lambert threw a wobbly because he didn't go to Newcastle. That we do not own our training ground. That Barnard is on £25k a week. I daresay next week we will learn that Marcus Leibher was a Nazi tank driver or that Adkins is really a Pompey fan or some other such rubbish dreamed up in the pubs of Portsmouth. Its almost as if he wants to divert our attention from the mess at Pompey.

 

My guess is that as December 18th draws closer, the number of Corp Ho's posts will reduce. He will probably go into hiding again making a brief appearance to tell us nonsense such as Richard Chaplow is David Armstrong's secret lovechild or that Cortese eats babies with his spaghetti and pizza.

 

You never know , perhaps he now agrees with Fitzhugh Fella that Pompey are heading for the precipice and financial disaster!!

 

My favourite is that some 30 odd pages ago I posted links to News articles and links to other information AND interviews about CSI & Bompey - but these are made up EVEN though they said it themselves on Telly! Oh and I commented on Renault Williams Sponsorship last year.

 

I then twice asked if any super googlers could go out and find any press releases or any information on that budget that contradicted the information I had found. I was happily open to the fact that the experts down the road would know where to look. Still depsite a reminder, they came up with? Nothing

 

So I quoted my information about their budget and asked for super googlers to try and disprove it.

 

And all the troll does is go on and on and on and on.

 

Still I have learnt one thing, if I'd known I was gonna be waterboarded, I'd have moved to live in Nott Arf pdq - after all they ain't got no water in the loos...

 

Meanwhile. it goes off on one again about our finances DESPITE repeated links being posted to the interview about our finances and to our annual accounts

 

Don't feed the troll Granty it is not worth the hole you burn in the Ozone layer from the use of electricity to publish your reasoned arguments

[Jimmy_D]

FPMSFL, ROFLMFAO

 

Decent businessmen indeed ROFLMFAO

 

Let's just pick one company they own, Snoras bank.

 

Why is it that such 'decent businessmen' running [presumably] decent businesses, are unable to get a licence to operate their 'bank' in the UK?

 

Or SAAB/Spyker, with, at best, an unclear ownership situation, and SAAB being in financial difficulty...

 

Not to mention the alleged links with the Russian Mafia that the owners have been reported as having.

 

Aye, not sure why Corp tried to bring that argument to the table to be honest.

[simonsays]

Steve, ref the £24m figure, I was quoting what gemmel said in his post below:

 

 

Originally Posted by Corporate Ho

But to be fair it's taken £24m (and that was the accounts for the year before last, nor last year’s remember)

 

One minute you are giving it large making out you have solid info from the accounts about the loss then, when you are made to look a fool (AGAIN) you try to back track by saying the info was from eles where.

 

You really are an idiot of the highest order corpwhoar. Give it up.

[ottery st mary]

Corp Ho is one of our forum posters in disguise ......

 

I am reliably informed that there are no skates intelligent enough to interact with our big hitters on this thread....

 

Come to think of it ....some of the recent posts have lost me along the sand dunes....

 

Keep up ottery or you will be sent to Pompeii

 

 

WIFM

Edited 13 October, 2011 by ottery st mary
spellin agin

[ottery st mary]

On second thoughts Corp Ho comes across as very dim:rolleyes:

 

Therefore it will be Storrie or Westwood:p

[spyinthesky]

I heard from a well placed person down in Pompey that the reason they call us SCUMMERS is due to Southampton Dockers breaking a strike either in 1735, 1842, 1911, 1935 or 1952

I have checked all these dates and found nothing apart from the fact that Portsmouth used to be in the County of Southampton.

Can all this be true?

[eurosaint]

Ho me old mucker

just putting aside the amusing image of the CIA waterboarding Phil in his orange boiler suit, just to gain access to his busy mind - I'm not sure I follow the idea that the Liebherr family will want £50M just to break even....

 

Can you just run those figures past me again, perhaps with a little more detail....

 

You are going to regret that question Rallyboy, big time !

I can sense a 'Corpse Ho special' brewing as we speak :)

[Joesaint]

I heard from a well placed person down in Pompey that the reason they call us SCUMMERS is due to Southampton Dockers breaking a strike either in 1735, 1842, 1911, 1935 or 1952

I have checked all these dates and found nothing apart from the fact that Portsmouth used to be in the County of Southampton.

Can all this be true?

 

Yea the strikes never happened (stupid skates have to make stuff up) and the county of southampton was pretty much Hampshire can't remember when they changed it.

[Jimmy_D]

Yea the strikes never happened (stupid skates have to make stuff up) and the county of southampton was pretty much Hampshire can't remember when they changed it.

 

Close.

 

Hampshire was named after the port of Hampton, which later became Southampton.

[Joesaint]

Close.

 

Hampshire was named after the port of Hampton, which later became Southampton.

 

Fairly sure hampton come from hamwick after the town moved from clausentium (sorry for the spelling) but southampton was known as southampton for hundreds of years after even though I'm sure the spelling slightly changed along the was (Shackespeare didnt even spell him name the same way when he wrote it I believe)and there was definatly a county of southampton after it changed into what it is today I'm sure.

If I'm wrong sorry

[saint si]

Southamptonshire (aka the County of Southampton) officially until 1959.

 

http://en.wikipedia.org/wiki/Southampton#Government

 

One of the citations:

http://www.visionofbritain.org.uk/descriptions/entry_page.jsp;jsessionid=831E0EE166940B068F901D2E5F5D2B33?text_id=929180&word=NULL

[Dark Munster]

 

Dubya, quite apart from the bizarre nature of your post making it seem like the CIA have been waterboarding you for a few days, I'm not surpised if they turned down £25m for you.

 

I'm amazed CW, that's actually quite witty.

 

As they say, give enough Corpses enough typewriters ....

 

 

 

 

----

Edited 14 October, 2011 by Dark Munster

[St Jim]

I heard from a well placed person down in Pompey that the reason they call us SCUMMERS is due to Southampton Dockers breaking a strike either in 1735, 1842, 1911, 1935 or 1952

I have checked all these dates and found nothing apart from the fact that Portsmouth used to be in the County of Southampton.

Can all this be true?

 

The reason for the terms to describe each other is factually unknown but widely speculated. 'Scummer' is reported to have being born from the term SCUM (Southampton City (or Corporation) Union Men).

 

This link may shed some more light on it.

http://en.wikipedia.org/wiki/South_Coast_derby

 

As far as I am aware there were several dock strikes through the late 1800's and through the 1900's and it appears on many occasions that scabs were brought in from Portsmouth to break the Southampton strikes, kind of goes against what I was regularly told in that it was the Southampton docers who were the strikebreakers and affectionately call scum.

 

Either way I'd rather be scum than a beasiality loving fish-f***ing inbred mong.

[Channon's Sideburns]

Clotterill's Press Conference at Nottarf today has just been CANCELLED...

 

Hold on to your hats ladies and gents...the end game has begun...

[hutch]

There won't be any additional money being distributed this season as QPR, Norwich and Swansea weren't among those who were receiving parachute payments, and last season was the first year of the new 4-year parachute deal, so previous years will be irrelevant.

It's extremely difficult to find any accurate information about football finance in the public domain, but I did dig up this from a BBC article in April 2010:

 

 

Under the proposed extension of parachute payments, clubs would receive £16m in each of the first two seasons after relegation from the Premier League, and £8m in years three and four.

 

Championship clubs not in receipt of parachute payments have received £830,000 over each of the last three years. Under the current proposals, that figure would rise to £2.2m per season

.

 

 

The increased parachute payments were subsequently approved, so it's not unreasonable to conclude that the "sweetener" to the other Championship clubs was also accepted, making around £5m free cash to each club not receiving parachute payments.

[Saint in Paradise]

On second thoughts Corp Ho comes across as very dim:rolleyes:

 

Therefore it will be Storrie or Westwood:p

 

Mods can we make this a poll ???? :lol:

[miserableoldgit]

Their Friday pre-match Press Conference has been cancelled over-night according to Solent. I wonder why?

[miserableoldgit]

On second thoughts Corp Ho comes across as very dim:rolleyes:

 

Therefore it will be Storrie or Westwood:p

It can`t be Westwood. The Ho might be in denial, but he doesn`t type like a knuckle-dragger.

[Doctoroncall]

It's extremely difficult to find any accurate information about football finance in the public domain, but I did dig up this from a BBC article in April 2010:

 

 

Under the proposed extension of parachute payments, clubs would receive £16m in each of the first two seasons after relegation from the Premier League, and £8m in years three and four.

 

Championship clubs not in receipt of parachute payments have received £830,000 over each of the last three years. Under the current proposals, that figure would rise to £2.2m per season

.

 

 

The increased parachute payments were subsequently approved, so it's not unreasonable to conclude that the "sweetener" to the other Championship clubs was also accepted, making around £5m free cash to each club not receiving parachute payments.

 

That's correct, the FL clubs initially didn't back it (mainly because the disparity between league one and the championship would be larger, there was another reason but cannot remember) so the PL then put pressure on the clubs with regard to withdrawing financial support.

[pedg]

Their Friday pre-match Press Conference has been cancelled over-night according to Solent. I wonder why?

 

http://www.portsmouth.vitalfootball.co.uk/article.asp?a=258731

 

'Forest source says early principles of a deal more or less agreed, all very amicable.'

 

Nothing like standing firm and trying to keep your manager, nothing at all.

 

[hypochondriac]

Rubbish. Really wanted to Steve to stay. They will probably appoint someone like Dave Jones now and be ok