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Pompey Takeover Saga


Fitzhugh Fella

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http://www.portsmouth.co.uk/sport/pompey/pompey-caretaker-boss-banks-on-coventry-boost-1-4523217

 

Whittingham said: ‘That result was massive.

 

We probably had close to a 1,000 people with a smile on their face driving back down to Portsmouth that night. It’s so nice to feel you actually made people smile – and the fans have been fantastic.

 

2abu8ubu.jpg

 

 

To be fair, there could easily have been 800 or so Coventry fans who were happy with the point and driving down to Portsmouth.

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The business model assumes League 1 football for the next five years. In practical terms relegation does not have a huge impact on external revenues (eg TV money) and a successful side in League 2 would, more than likely attract larger gates than a struggling League 1 club.

 

So, the PDT have been spouting the mantra that they will run the club in a sustainable manner yet they will somehow be able to pull together a team that will easily out-compete the other teams in League 2 if/when they get relegated this season.

 

What's that whiff? Ahhhh....same old Pompey...

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In that link to the invitation to the open day it says:-

 

"you must bring along the required identification (passport, drivers' licence, birth certificate, utility bill, council tax notification, rent book or bank statement)

 

Doubt if anything but that passport will be difficult for them to find? The passport - is a Republic of Portsea legal enough?

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@pn_neil_allen: My #Pompey Trust prospectus arrived today. Very, very professionally done. Time to call in cash from the members of The News' syndicate!

 

Please, please, please let them not be able to raise the cash. The thought of Allen having to explain why he welshed is too good to miss.

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@pn_neil_allen: My #Pompey Trust prospectus arrived today. Very, very professionally done. Time to call in cash from the members of The News' syndicate!

 

So the local paper staff only bought a share in a share, not a whole one each. Go Neil, local sports journo of the year and PST champion.

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So the local paper staff only bought a share in a share, not a whole one each. Go Neil, local sports journo of the year and PST champion.

 

He's quoted on POL that's there's at least 7 or 8 staff in on it, probably many more. All the main reporters are in on it; the generous souls. But then "writing" for that festering sh*t pit of a newspaper probably doesn't pay much, so we shouldn't be too critical.

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It's a big difference between pledging £100 (in an account where I'm led to believe they can still get it back) and handing over £1000 of your hard earned cash.

 

My mate is a die hard skate, season ticket holder for years, follows them all over the country. Even he has gone in with 6 others on 1 share and he's not short of cash. You don't have to be a genius with money to know you will never see it again.

 

If the trust do take over they will just flounder in League 2 for a year or so then be in admin again and the shares will be worthless.

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There will be some fans that buy £1000 outright but not all.

 

Out of the 11,000 that currently attend games. (Being generous....) Say that 20% are children. So that's 8,800 souls. Not all will be able to afford anything, but lets be generous again, say 75% can. So that's 6,600. And now £250 each on average.

 

£1.65 million.

 

And this is meant to be a fan led buyout, So they will have control over 51% of the club. The whole lot, Stadium, future funding, the works will be a grand total of £3.235 million. But wait, the Stadium itself is more then £1.65 million......

 

The trust are championing a big con. I feel for those that truly believe in it, the poor fools.

Edited by Colinjb
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A summary of the finances appears in the offer document, and a more detailed set of financial projections with commentary will be added shortly.

http://www.communitypompey.co.uk/faqs/

 

 

I've just seen a reply to an email, sent to Community Pompey, enquiring when the above information would be available.

 

For prospective investors, here is their reply:

 

Sorry to be slow in getting back to you. I had hoped that I might be able to

give you a link to them by now but I'm afraid our lawyers are recommending

that we publish no further financial figures until after the court case

(13/14th Dec).

 

:uhoh:

 

"The share will buy me the one thing we have fought for over years; transparency. There has been very little of it at Pompey in my lifetime, for one simple reason; you don't grant transparency when you have something to hide."

http://www.bbc.co.uk/sport/0/football/20452341

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A summary of the finances appears in the offer document, and a more detailed set of financial projections with commentary will be added shortly.

http://www.communitypompey.co.uk/faqs/

 

 

I've just seen a reply to an email, sent to Community Pompey, enquiring when the above information would be available.

 

For prospective investors, here is their reply:

 

Sorry to be slow in getting back to you. I had hoped that I might be able to

give you a link to them by now but I'm afraid our lawyers are recommending

that we publish no further financial figures until after the court case

(13/14th Dec).

 

:uhoh:

 

"The share will buy me the one thing we have fought for over years; transparency. There has been very little of it at Pompey in my lifetime, for one simple reason; you don't grant transparency when you have something to hide."

http://www.bbc.co.uk/sport/0/football/20452341

 

So, they're expecting the bestest fans in the whole wide world to invest their kid's Christmas present money into something where they aren't prepared to tell them how that money will be spent!

 

They're right in the sense that this is a unique opportunity. It's also quite bizarre!

 

Does anyone else think that knobhead Neil reads this thread on a daily basis? Every criticism that has been raised - and legitimately so! - regarding the trust has been tackled by knobhead Neil with a jingoistic twitter post! I reckon he could give Turkish a run for his money in the overcoming objections stakes!

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so no financial details will be offered to potential investors until after the court case....:?

 

Does that mean everything is on hold because they fear defeat in court, or do they expect people to blindly cough up money to help the property developers gain control?

 

Any delay at this stage seems unwise.

I understand they want pledges in asap, but even the dimmest person deserves to know what type of blackhole their hard-earned grand is disappearing into.

 

Perhaps their sales drive day for the personal loan company will throw up some facts.

 

 

Little info, fantasy accounting, a property developing deal dressed up as a fan buyout, a misguided media love-in and an invitation to take on personal debt - It all sounds a bit seedy and desperate.

 

 

but what else can we do Rallyboy you fricking Nutjob?

Turn the clock back five years and trade solvently perhaps? - or just do the time after doing the crime.

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A summary of the finances appears in the offer document, and a more detailed set of financial projections with commentary will be added shortly.

http://www.communitypompey.co.uk/faqs/

 

 

I've just seen a reply to an email, sent to Community Pompey, enquiring when the above information would be available.

 

For prospective investors, here is their reply:

 

Sorry to be slow in getting back to you. I had hoped that I might be able to

give you a link to them by now but I'm afraid our lawyers are recommending

that we publish no further financial figures until after the court case

(13/14th Dec).

 

:uhoh:

 

"The share will buy me the one thing we have fought for over years; transparency. There has been very little of it at Pompey in my lifetime, for one simple reason; you don't grant transparency when you have something to hide."

http://www.bbc.co.uk/sport/0/football/20452341

 

Same old Pompey...

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http://www.dailymail.co.uk/sport/football/article-2238925/Simon-Jordan-pondered-Portsmouth-buy--Charles-Sale.html

 

So they had a real bidder with a consortium with funds and experience of running an FL Club, who while not being the wealthiest bunny on the farm would have at least passed the FAPPT

 

But they bowed to the fans consortium..

 

Nope never saw that coming.

 

:lol:

 

Of course the PDT was the only hope

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So, over a week n from the launch, I expected to have an update on the number of pledges converted. If you are minded to convert, the chances are you will do it sooner rather than later. Unfortunately for them, the offer is so flawed I do not expect a significant take up.

 

One thing I haven't been able to establish is what happens if the PST raise £1m? Do they press on regardless with a minority stake?

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http://www.dailymail.co.uk/sport/football/article-2238925/Simon-Jordan-pondered-Portsmouth-buy--Charles-Sale.html

 

So they had a real bidder with a consortium with funds and experience of running an FL Club, who while not being the wealthiest bunny on the farm would have at least passed the FAPPT

 

But they bowed to the fans consortium..

 

Nope never saw that coming.

 

:lol:

 

Of course the PDT was the only hope

 

What's stopping Jordan & Co stepping in at the 11th hour if the PDT's bid collapses?

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What's stopping Jordan & Co stepping in at the 11th hour if the PDT's bid collapses?

 

Because, according to knobhead Neil, it's "trust or bust", there are no other options, that's it, the end of the line! He's whipped the local mongs into such a frenzy they won't accept anything else now :D

 

Oh, and is that another exclusive that knobhead Neil has missed out on? First it's the BBC repeatedly beating him across the line, now it's the Daily Snail!

 

Some might start to say that knobhead Neil isn't a real journalist ;)

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Looks interesting but can anyone less lazy than me sum it up in a few sentences? (Sorry, it's late - brain has seized up)

 

A firm of solicitors who did some work for one of the PFC entities claim that UHY should have treated their costs as part of the administration costs and therefore paid them some money out of the funds available to UHY.

 

The judge said they are wrong and UHY were right.

 

End.

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The local news has just stated that according to some credit organisation, 2 out of every 5 homes in Southampton, will fund Christmas through loans or credit cards.

Assumming that the demographics are roughly the same for pompey (Yes I know that is incredibly kind) That extra 900 pounds is a big ask for 40% of pledgers.

 

From 2,000 pledeges, My prediction is a 55% conversion rate. Then factor in the amount of cup games they predicted, the shortfall on their attendence forecasts, a likely relegation, continued rising costs of administration fees, the cost of the court case and possibility they will have to pay more than 2.7 million and the need to complete before January to get the high earners shipped out...........I am begining to hope that Chanrai just leaves them to it.

 

What was the creditors joke at the last CVA meeting - "See you all again in two years"

 

Many a true word spoken in gest.

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A firm of solicitors who did some work for one of the PFC entities claim that UHY should have treated their costs as part of the administration costs and therefore paid them some money out of the funds available to UHY.

 

The judge said they are wrong and UHY were right.

 

End.

 

The moral of the story being that anyone doing anything with respect to pompey should require payment up front.

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Because, according to knobhead Neil, it's "trust or bust", there are no other options, that's it, the end of the line! He's whipped the local mongs into such a frenzy they won't accept anything else now :D

I'm looking forward to his reports from Court next month, when Portpin's counsel suggests that FP should be valued on the "bust" basis.

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A firm of solicitors who did some work for one of the PFC entities claim that UHY should have treated their costs as part of the administration costs and therefore paid them some money out of the funds available to UHY.

 

The judge said they are wrong and UHY were right.

 

End.

Nice one. Cheers! :)

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What's stopping Jordan & Co stepping in at the 11th hour if the PDT's bid collapses?

 

Well, of course, IF TB had answered the phones then PERHAPS the PDT could have engaged with them on a package deal that did NOT include giving away the stadium.

 

But of course keeping the club whole, nobody is going to make money from that, no siree.

 

Obviously I am not in anyway speculating alluding or otherwise implicating or even considering the thought that any Board Members could even begin to consider being on the Property boards as well as the football boards. They are totally focused and dedicated to the one end of moving their immense club forwards

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[TABLE]

[TR]

[TD=bgcolor: #ffffff][/TD]

[TD=bgcolor: #ffffff, align: right][/TD]

[/TR]

[TR]

[TD=bgcolor: #ffffff, colspan: 2, align: left]Santa Saturday is coming and we would like EVERY Pompey fan in the World to have the opportunity to take part!

 

Where will you be on Santa Saturday? We can now send suits anywhere so if you would like to take part in your own “Santa Saturday”? We already have Pompey fans who will

 

Santa Saturday is on Saturday 15th December and we are planning to have 1898 Blue Pompey Santas at Fratton Park for the match against Preston North End!

 

It will be a day full of activity which will include a pre-match Santa Stroll and Santa Zumba as well as a Santa Samba and giant pass-the–parcel at half time. There will be festive activities in the car park from 11am for the whole family to enjoy which will all be free if you’re a Pompey Santa.

 

If you would like to be one of the 1,898 Santas at the match on December 15th and take part in Pompey's first ever Santa Saturday then its only £10 for adults and £8 for children (under 16s) to take part. All participants will receive one of our limited edition Blue Santa suits which include a hat, beard, top complete with PFC Logo, belt and trousers. Suits are available in four sizes: small child, large child, small adult and large adult and are sufficiently generous to wear over plenty of clothes for a cold (and hopefully sunny) December day.

 

Places are limited so to reserve yours, along with your suit, call the Community Office on 02392 728899 or email becky.baker@pompeyitc.org.uk and she can answer any questions you may have.

 

Postage per suit:

Australia : £8.50

America/Canada/South Africa £8.50

Spain £5.00

U.K £3

 

Thank you

 

 

[/TD]

[/TR]

[/TABLE]

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A summary of the finances appears in the offer document, and a more detailed set of financial projections with commentary will be added shortly.

http://www.communitypompey.co.uk/faqs/

 

 

I've just seen a reply to an email, sent to Community Pompey, enquiring when the above information would be available.

 

For prospective investors, here is their reply:

 

Sorry to be slow in getting back to you. I had hoped that I might be able to

give you a link to them by now but I'm afraid our lawyers are recommending

that we publish no further financial figures until after the court case

(13/14th Dec).

 

:uhoh:

 

"The share will buy me the one thing we have fought for over years; transparency. There has been very little of it at Pompey in my lifetime, for one simple reason; you don't grant transparency when you have something to hide."

http://www.bbc.co.uk/sport/0/football/20452341

 

So in other words, if a judge saw how much the stadium was worth to the trust compared to how much they're trying to pay for it, the judge would question why they're getting it so cheaply.

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He preformed the galant feat of riding his bike for a heroic... err... 6 hours.

 

Um... well done for persuading mugs to sponsor you for something so lame.

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[TABLE]

[TR]

[TD=bgcolor: #ffffff][/TD]

[TD=bgcolor: #ffffff, align: right][/TD]

[/TR]

[TR]

[TD=bgcolor: #ffffff, colspan: 2, align: left]Santa Saturday is coming and we would like EVERY Pompey fan in the World to have the opportunity to take part!

 

Where will you be on Santa Saturday? We can now send suits anywhere so if you would like to take part in your own “Santa Saturday”? We already have Pompey fans who will

 

Santa Saturday is on Saturday 15th December and we are planning to have 1898 Blue Pompey Santas at Fratton Park for the match against Preston North End!

 

It will be a day full of activity which will include a pre-match Santa Stroll and Santa Zumba as well as a Santa Samba and giant pass-the–parcel at half time. There will be festive activities in the car park from 11am for the whole family to enjoy which will all be free if you’re a Pompey Santa.

 

If you would like to be one of the 1,898 Santas at the match on December 15th and take part in Pompey's first ever Santa Saturday then its only £10 for adults and £8 for children (under 16s) to take part. All participants will receive one of our limited edition Blue Santa suits which include a hat, beard, top complete with PFC Logo, belt and trousers. Suits are available in four sizes: small child, large child, small adult and large adult and are sufficiently generous to wear over plenty of clothes for a cold (and hopefully sunny) December day.

 

Places are limited so to reserve yours, along with your suit, call the Community Office on 02392 728899 or email becky.baker@pompeyitc.org.uk and she can answer any questions you may have.

 

Postage per suit:

Australia : £8.50

America/Canada/South Africa £8.50

Spain £5.00

U.K £3

 

Thank you

 

 

[/TD]

[/TR]

[/TABLE]

 

Surely they need 2010 of them?

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[TABLE]

[TR]

[TD=bgcolor: #ffffff][/TD]

[TD=bgcolor: #ffffff, align: right][/TD]

[/TR]

[TR]

[TD=bgcolor: #ffffff, colspan: 2, align: left]Santa Saturday is coming and we would like EVERY Pompey fan in the World to have the opportunity to take part!

 

Where will you be on Santa Saturday? We can now send suits anywhere so if you would like to take part in your own “Santa Saturday”? We already have Pompey fans who will

 

Santa Saturday is on Saturday 15th December and we are planning to have 1898 Blue Pompey Santas at Fratton Park for the match against Preston North End!

 

It will be a day full of activity which will include a pre-match Santa Stroll and Santa Zumba as well as a Santa Samba and giant pass-the–parcel at half time. There will be festive activities in the car park from 11am for the whole family to enjoy which will all be free if you’re a Pompey Santa.

 

If you would like to be one of the 1,898 Santas at the match on December 15th and take part in Pompey's first ever Santa Saturday then its only £10 for adults and £8 for children (under 16s) to take part. All participants will receive one of our limited edition Blue Santa suits which include a hat, beard, top complete with PFC Logo, belt and trousers. Suits are available in four sizes: small child, large child, small adult and large adult and are sufficiently generous to wear over plenty of clothes for a cold (and hopefully sunny) December day.

 

Places are limited so to reserve yours, along with your suit, call the Community Office on 02392 728899 or email becky.baker@pompeyitc.org.uk and she can answer any questions you may have.

 

Postage per suit:

Australia : £8.50

America/Canada/South Africa £8.50

Spain £5.00

U.K £3

 

Thank you

 

 

[/TD]

[/TR]

[/TABLE]

Could be a real humdinger the day after the Court case. I wonder if Santa's factored in paying rent to Chinny for the day?

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