Pompey Takeover Saga

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

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

 

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

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

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

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

Now that would solve the problem for good and all

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

 

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

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

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

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

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

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

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

'Sort of, yes.....'

'What do you mean 'sort of'?'

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

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

'Yes'

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

Yes please'

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

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

*click*

'Mr Eisner? Hello?'

Well, it's £2,500,000 not £250k, actually!

Well, it's £2,500,000 not £250k, actually!

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

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

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

 

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Well, it's £2,500,000 not £250k, actually!

Balls. It was early when I typed that

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

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

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

No change there then

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

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

Speaking of which, the accounts to June 2016 have been published. Not sure if already posted - had a quick look and can't find anything...

https://beta.companieshouse.gov.uk/company/07940335/filing-history

(links to here: https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/nfY04AeuIx4HAXNCZs2aJP_BBeahlfFE9IpHl8dp3oQ/application-pdf)

Meanwhile, on Twitter...

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

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

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

Taylor cocks.

Lol.

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

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

If Disney falls through, I wonder if they will go cap in hand to the council again for a loan?

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

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

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

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

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

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

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

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

No, really this is happening.....[emoji23][emoji23][emoji23]....

http://www.portsmouth.co.uk/our-region/portsmouth/open-top-bus-parade-set-to-celebrate-pompey-promotion-1-7937157

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No, really this is happening.....[emoji23][emoji23][emoji23]....

 

http://www.portsmouth.co.uk/our-region/portsmouth/open-top-bus-parade-set-to-celebrate-pompey-promotion-1-7937157

 

 

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Only 30,000 fans expected?? Where have the other 220,000 gone??

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

Council leader Donna Jones hopes anything from 30,000 to 50,000 fans will line the streets to support the club.

 

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

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

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

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

No, really this is happening.....[emoji23][emoji23][emoji23]....

 

http://www.portsmouth.co.uk/our-region/portsmouth/open-top-bus-parade-set-to-celebrate-pompey-promotion-1-7937157

 

 

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[emoji23][emoji23] that is beyond tinpot!!

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

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

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

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

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

BBC Solent Sport‏ @solentsport

Next Thursday's @PompeyTrust meeting at the Guildhall will be live on 96.1FM and online from 7PM

No, really this is happening.....[emoji23][emoji23][emoji23]....

 

http://www.portsmouth.co.uk/our-region/portsmouth/open-top-bus-parade-set-to-celebrate-pompey-promotion-1-7937157

Someone needs to photoshop Mickey Mouse and the rest of the Disney characters in there

Someone needs to photoshop Mickey Mouse and the rest of the Disney characters in there

It would be rude not to

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

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

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

Well.......

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

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

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

A highlight:

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

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

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

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

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

identity or resources.

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

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

world

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

foundation

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

football club at all levels of the Football League

:lol:

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

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

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

league football with a minimum capacity of 25,000

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

25,000 is rather ambitious for them, no?

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

[emoji23]

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This bit is great on page 27...

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

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

Blue, White and Red we traditionally play in"

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

Well.......

 

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

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

Third in league four, to be accurate

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

 

A highlight:

 

 

 

:lol:

 

 

 

 

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

 

25,000 is rather ambitious for them, no?

 

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

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

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

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

Do you mean Dimmock's Corner?

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

Titchfield!! Way to close thanks.

An open top bus parade for being 4 points sh!tter than Doncaster Rovers in the fourth tier - wow!