Gemmel Posted 23 January, 2013 Share Posted 23 January, 2013 I actually feel a bit sorry for Colin Fermery; he's coming across as completely deluded and entirely ignorant of the precise finances of the PDT's bid. Fratton park: £2.75M (best case) CVA: £850K Player deferrrals: £8.5M PKF fees: £2M bare minimum Where is the money coming from? "Reworking" the business plan is not an answer. Plus legal fees (Theirs and Portpin) (Can't see how they wont have to pay Chanrai's costs after gettig it adjourned twice) Plus the 2 million floating charge Plus Kanu's settlement Plus a little bit of working capital wouldn't go amiss. Link to comment Share on other sites More sharing options...
trousers Posted 23 January, 2013 Share Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]16:31[/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Nigel Adkins Do Pompey need a manager, would love a decent club to join.[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] Link to comment Share on other sites More sharing options...
trousers Posted 23 January, 2013 Share Posted 23 January, 2013 Steve Wilson @pn_steve_wilson Heroic effort from PST spokesman @colinfarmery to do three-hour webchat. And he still gets stick from some for supposedly dodging questions! Link to comment Share on other sites More sharing options...
hypochondriac Posted 23 January, 2013 Share Posted 23 January, 2013 Steve Wilson @pn_steve_wilson Heroic effort from PST spokesman @colinfarmery to do three-hour webchat. And he still gets stick from some for supposedly dodging questions! That's hilarious seeing as he dodged almost every question... Link to comment Share on other sites More sharing options...
Guided Missile Posted 23 January, 2013 Share Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]16:18[/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Walter Hi Colin - just to clarify....what's your "job title" in your roll at the Trust?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]16:19[/TD] [TD=class: chatmsgtext altcaster_text]Colin: I am the official PST live webchat blogger. And spokesperson as well... ;o)[/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]16:22[/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Guest some of you need to remember colin is spokesman not account for PST[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] Colin is the ultimate uninformed and clueless spokesman. A dangerous mix, as we have discovered. Colin is welcome to use this quote inspired by our equally clueless Fans Trust spokesman, Dave Ford. Always raises a smile with me: It is very rare I am lost for words but I saw the prospectus last week and it is awesome - a tremendous tribute to great fans. These fans have waited a long time for this and it is going to be fantastic. I really believe it will be the best football prospectus anywhere both in size and the amount of detail Link to comment Share on other sites More sharing options...
fanimal Posted 23 January, 2013 Share Posted 23 January, 2013 Well from Gemmell/Krakens figures i make that £19M MINIMUM; what will blow it apart is when the Judge in a weeks time (getting exciting now, like the build up to Xmas) adds another £4 -5M or even just says no to PKF. Cant wait.... Link to comment Share on other sites More sharing options...
Torres Posted 23 January, 2013 Share Posted 23 January, 2013 Well from Gemmell/Krakens figures i make that £19M MINIMUM; what will blow it apart is when the Judge in a weeks time (getting exciting now, like the build up to Xmas) adds another £4 -5M or even just says no to PKF. Cant wait.... And then work out where that £19m (minimum) is coming from: £8m PPs £2m pledges - being VERY kind ??? ??? ??? Link to comment Share on other sites More sharing options...
eurosaint Posted 23 January, 2013 Share Posted 23 January, 2013 Plus legal fees (Theirs and Portpin) (Can't see how they wont have to pay Chanrai's costs after gettig it adjourned twice) Plus the 2 million floating charge Plus Kanu's settlement Plus a little bit of working capital wouldn't go amiss. Kraken's calculation already added up to about £14 mil, then add on what you have just mentioned and you are approaching £18 mil ! Paid over 4 years this is bestways £4.5 mil per year before they start covering running costs ! Would I be the first on here to suggest that 'the figures don't add up' ?? :)WTFILN Link to comment Share on other sites More sharing options...
BigShadow Posted 23 January, 2013 Share Posted 23 January, 2013 So to sum up...... 1. Additional funding to buy the stadium has been found in a reworked business plan.....but Colin has not seen the latest business plan. 2. The High Court delay was good news for PST as it gives them extra time to convert pledges.......but Colin said that most of the outstanding pledges won't pay until the outcome of the court case is known. 3. Colin does not know the scale of PKF's fees because it is a matter between PKF and the creditors.......but he does know these fees are accounted for in the latest business plan........which he hasn't seen. 4. Colin doesn't actually know much about anything......other than all expenses are between PKF and the creditors......and the PST has covered everything in their business plan......which is based on their future revenue projections. So based on that....the Phew can rest easy.....all is well in PST land. And Nutjobs can rest easy that their is plenty more hilarity in store. Link to comment Share on other sites More sharing options...
trousers Posted 23 January, 2013 Share Posted 23 January, 2013 Well from Gemmell/Krakens figures i make that £19M MINIMUM; what will blow it apart is when the Judge in a weeks time (getting exciting now, like the build up to Xmas) adds another £4 -5M or even just says no to PKF. Cant wait.... Alas, next week's court session is simply to set a date for the actual court session....no wonder lawyers are rich.... Link to comment Share on other sites More sharing options...
70's Mike Posted 23 January, 2013 Share Posted 23 January, 2013 after reading Colins answers if I was waiting to pay a pledge , i would definitely lock away my wallet. his answer seemed to be its in the revised Business plan, if any business gives the new PFC credit then frankly they deserve to lose their money Link to comment Share on other sites More sharing options...
rallyboy Posted 23 January, 2013 Share Posted 23 January, 2013 Now I know who their spokesman is. Q. How is the Trust going to finance the club going forward? A. That would be an ecumenical matter... drink, feck, ar$e, girls! Craggy Island FC. Link to comment Share on other sites More sharing options...
The Kraken Posted 23 January, 2013 Share Posted 23 January, 2013 Its ok, nutjobs. Corp Ho has resurfaced on POL to continue the mirth, in a topic about Aston Villa and Randy Lerner. Lerner should sell Villa and do a deal with the Trust for 49% of the club. He could take care of a small transfer/ wage budget to help us move back up the leagues while the Trust manage the stadium redevelopment with financial help from Tesco. For a relatively modest outlay Lerner (or someone else) could own 49% of a club that's knocking on the door of the PL with a new stadium and run profitably. :lol: Link to comment Share on other sites More sharing options...
Crab Lungs Posted 23 January, 2013 Share Posted 23 January, 2013 Its ok, nutjobs. Corp Ho has resurfaced on POL to continue the mirth, in a topic about Aston Villa and Randy Lerner. :lol: WTF Why would Lerner do that!!!!!!? Link to comment Share on other sites More sharing options...
View From The Top Posted 23 January, 2013 Share Posted 23 January, 2013 Its ok, nutjobs. Corp Ho has resurfaced on POL to continue the mirth, in a topic about Aston Villa and Randy Lerner. :lol: He's 'kin loon. Link to comment Share on other sites More sharing options...
Gemmel Posted 23 January, 2013 Share Posted 23 January, 2013 WTF Why would Lerner do that!!!!!!? Beacuse they are knocking on the door of the prem and run profitably. I do wish you lot weren't so nasty to old corpy - This thread needs him Link to comment Share on other sites More sharing options...
Lets B Avenue Posted 23 January, 2013 Share Posted 23 January, 2013 So to sum up...... 1. Additional funding to buy the stadium has been found in a reworked business plan.....but Colin has not seen the latest business plan. 2. The High Court delay was good news for PST as it gives them extra time to convert pledges.......but Colin said that most of the outstanding pledges won't pay until the outcome of the court case is known. 3. Colin does not know the scale of PKF's fees because it is a matter between PKF and the creditors.......but he does know these fees are accounted for in the latest business plan........which he hasn't seen. 4. Colin doesn't actually know much about anything......other than all expenses are between PKF and the creditors......and the PST has covered everything in their business plan......which is based on their future revenue projections. So based on that....the Phew can rest easy.....all is well in PST land. And Nutjobs can rest easy that their is plenty more hilarity in store. and not forgetting. 5. The business plan (which he hasnt seen) is ROBUST. The last syllable being the only factual item. Link to comment Share on other sites More sharing options...
Gemmel Posted 23 January, 2013 Share Posted 23 January, 2013 http://www.portsmouth.co.uk/sport/pompey/webchat-shows-pst-remain-confident-1-4711999 Actually starting to feel sorry for farmery now. Link to comment Share on other sites More sharing options...
Panda Posted 23 January, 2013 Share Posted 23 January, 2013 Chairman: "So how much are we now short in the business plan?" Treasurer: "Best estimate is £18 million, give or take million or two" Chairman: "OK, let's rework the business plan then. All those in favour of increasing line 79 in the financial model to gates of 32,000 in League 2 instead of 6,000?" Link to comment Share on other sites More sharing options...
SaintBobby Posted 23 January, 2013 Share Posted 23 January, 2013 OMFG. Some highlights from that Farmery interview. "We've got our budget, the more we can raise over that budget, the more we can spend" Q: "What are the main hurdles that need to be overcome if the Trust is to be successful?" A: "I think the key thing is to get over the hurdle of actually owning the club...then I think the business plan kicks in....I think a lot of people who are waverers at the moment will start pledging their money" (he thinks people will write cheques for £1000 after the Trust has taken control...!) Q: "Where realistically do you think Pompey will be in five years' time?" A: "Well, if you look at Exeter and AFC Wimbledon....the Championship" WTFILN Link to comment Share on other sites More sharing options...
badgerx16 Posted 23 January, 2013 Share Posted 23 January, 2013 Alas, next week's court session is simply to set a date for the actual court session....no wonder lawyers are rich.... But there is always the OTHER court appearance - you know, the one where clever Trevor has to ask politely for permission from the creditors to extend the administration. Link to comment Share on other sites More sharing options...
bridge too far Posted 23 January, 2013 Share Posted 23 January, 2013 But there is always the OTHER court appearance - you know, the one where clever Trevor has to ask politely for permission from the creditors to extend the administration. I wonder what the odds would be on an extension to to the administration. Would a judge (or whoever) take into account their previous history / administrations I wonder? Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 23 January, 2013 Share Posted 23 January, 2013 I wonder what the odds would be on an extension to to the administration. Would a judge (or whoever) take into account their previous history / administrations I wonder? Of course not. Why would he need to? After all, all he/she would have to do is take a look at the re-worked business plan - the one that Colin hasn't seen yet - and then he/she will be assured that when the PST take over everything will be sorted innit! Not allowing an extension to the admin will mean that the PST will not be able to put into action the re-worked business plan that Colin hasn't seen that will definitely put the club on an even keel financially in four [possibly] years. Where's the risk in that? Personally, I'm loving this new era of clarity from the PST, however it does strike me as rather odd that it's only Saints fans that seem to give a monkeys lately, presumably all the stupid skates like knobhead neil have been sucked in by the spin and rowlocks and the others just don't care any more - yeah good luck getting them to write a cheque for a grand Link to comment Share on other sites More sharing options...
pedg Posted 23 January, 2013 Share Posted 23 January, 2013 (edited) I think their business plan is SO robust I think it should be referred to as the "Robustest Business Plan". Edited 23 January, 2013 by pedg gwamma Link to comment Share on other sites More sharing options...
sidthesquid Posted 23 January, 2013 Share Posted 23 January, 2013 Its ok, nutjobs. Corp Ho has resurfaced on POL to continue the mirth, in a topic about Aston Villa and Randy Lerner. Originally Posted by Corporate Ho/Banker Lerner should sell Villa and do a deal with the Trust for 49% of the club. He could take care of a small transfer/ wage budget to help us move back up the leagues while the Trust manage the stadium redevelopment with financial help from Tesco. For a relatively modest outlay Lerner (or someone else) could own 49% of a club that's knocking on the door of the PL with a new stadium and run profitably. I sometimes wonder if we are mocking someone who is mentally ill. Ho and reality have always been, at best, passing acquaintances but they seem to have long since gone their separate ways if this is for real. Link to comment Share on other sites More sharing options...
Waterside.saint Posted 23 January, 2013 Share Posted 23 January, 2013 http://www.portsmouth.co.uk/sport/pompey/webchat-shows-pst-remain-confident-1-4711999 Actually starting to feel sorry for farmery now. Take a bow: pfcbutton 7:20 PM on 23/01/2013 Another idiot to add, straight to the top of this weeks trolling chart, in at no.1: Southampton dominance Gungarrdin Shooter happy The Real Realist Returns Sarah PFC Pledged but will not pay the 1000 King Kanu the Great Scumskate Letiss leGod Insane Saint Mental Ray IIII HMRC Blue White and Red Balram called my bluff Diamond Geezer Belbin Simon Templer Hawks fan76 Laffaminute Nelson Muntz Saint Chris Pendragon Insolvency Lawyer nigeladkinsredwhitearmy The fatest Beagle in the New Forest Jerry packer nigeladkinsredwhitearmy smellsfishy pompeydown overtheill Redadaire The Lord of Gunwharf DampDog Iva Biggin The Ongoing joke that is PFC Link to comment Share on other sites More sharing options...
trousers Posted 23 January, 2013 Share Posted 23 January, 2013 But there is always the OTHER court appearance - you know, the one where clever Trevor has to ask politely for permission from the creditors to extend the administration. Yeah, but Farmery indicated on the Webchat that it is just a formality and he fully expects the judge to rubber stamp the extension. This is Pompey - they'll come out of admin when they want.... Link to comment Share on other sites More sharing options...
fos1 Posted 23 January, 2013 Share Posted 23 January, 2013 Colin is the ultimate uninformed and clueless spokesman. A dangerous mix, as we have discovered. Colin is welcome to use this quote inspired by our equally clueless Fans Trust spokesman, Dave Ford. Always raises a smile with me: It is very rare I am lost for words but I saw the prospectus last week and it is awesome - a tremendous tribute to great fans. These fans have waited a long time for this and it is going to be fantastic. I really believe it will be the best football prospectus anywhere both in size and the amount of detail Thought I explained to you those comments in a personal phone call !! Obviously you have short memory , so perhaps it's you that is clueless ! Link to comment Share on other sites More sharing options...
OldNick Posted 23 January, 2013 Share Posted 23 January, 2013 I do feel sorry for Farmery, he obviously loves Pompey and is desperately doing his best. It seems to me he is out of his depth. I notice the HNW are not giving the money but just having it put in as a loan against the stadium, not like Leon Crouch who gave the money to save the club, no strings attached. As time goes on it becomes more apparent what a star he was. Link to comment Share on other sites More sharing options...
OldNick Posted 23 January, 2013 Share Posted 23 January, 2013 Thought I explained to you those comments in a personal phone call !! Obviously you have short memory , so perhaps it's you that is clueless ! Don't rise to the bait Fos, you did what you thought best. Your only mistake was not playing for my team in the forum match. Lol Link to comment Share on other sites More sharing options...
Joe Kirkup Posted 23 January, 2013 Share Posted 23 January, 2013 I think the biggest untruth in all of this is the constant peddling of the lie that the Trust will be majority shareholders. If ALL the pledges are converted then that's £2mil. The trust have stated over and over that they have had 2k pledges. Therefore for them to be majority shareholders then the total value of their bid is less than £4mil. That'll cover everything. Link to comment Share on other sites More sharing options...
Daren W Posted 24 January, 2013 Share Posted 24 January, 2013 http://www.portsmouth.co.uk/sport/pompey/webchat-shows-pst-remain-confident-1-4711999 Actually starting to feel sorry for farmery now. "The more money we raise the more money we have to spend" Jesus H Christ. Am I the only one looking at that and wondering if Farmery is deluded? You do have debts to pay Colin surely? This seems typical of the reasons why Portsmouth and thinking they are looking to spend money rather than stabilise the club and run it sensibly? spend spend spend Link to comment Share on other sites More sharing options...
Waterside.saint Posted 24 January, 2013 Share Posted 24 January, 2013 "The more money we raise the more money we have to spend" Jesus H Christ. Am I the only one looking at that and wondering if Farmery is deluded? You do have debts to pay Colin surely? This seems typical of the reasons why Portsmouth and thinking they are looking to spend money rather than stabilise the club and run it sensibly? spend spend spend The key thing for me is their airbrushing out of all this new debt. FFS they are where they are because for years they thought nothing of running up hideous amount of indebtedness (because they have a God-given 'right to be competitive'); when they did think about servicing some of their debt it was always to people who could be trusted to 'send the boys round' if they weren't paid - but HMRC, small businesses, charities etc. i.e. anyone they could bully - could whistle for it. And here we go again Link to comment Share on other sites More sharing options...
trousers Posted 24 January, 2013 Share Posted 24 January, 2013 @pn_neil_allen: Busy week at #Pompey. Shaun Cooper in on loan from Crawley, Alex Grant loaned to Hawks and new deals offered to Ertl and Russell. Yeah, Saints' busy week pales into insignificance compared to the exciting happenings at Pompey this week.... Link to comment Share on other sites More sharing options...
rallyboy Posted 24 January, 2013 Share Posted 24 January, 2013 I can't be bothered to plough through all of the non-answers from yesterday but I'm sure I spotted an admission for the first time that this is no longer a plucky fan buyout but a partnership between a property developer and the Trust. We all knew that, but was that the first time they've admitted to mission-creep? Prior to that it has always been sold as simply a fan buyout. Maybe this is the brave new world of transparency that we were promised. Or a slip of the keyboard. Link to comment Share on other sites More sharing options...
Fitzhugh Fella Posted 24 January, 2013 Author Share Posted 24 January, 2013 @pn_neil_allen: Busy week at #Pompey. Shaun Cooper in on loan from Crawley, Alex Grant loaned to Hawks and new deals offered to Ertl and Russell. Yeah, Saints' busy week pales into insignificance compared to the exciting happenings at Pompey this week.... I think it is a shabby attempt to create a facade of normality ie business as usual. Link to comment Share on other sites More sharing options...
saint1977 Posted 24 January, 2013 Share Posted 24 January, 2013 I do feel sorry for Farmery, he obviously loves Pompey and is desperately doing his best. It seems to me he is out of his depth. I notice the HNW are not giving the money but just having it put in as a loan against the stadium, not like Leon Crouch who gave the money to save the club, no strings attached. As time goes on it becomes more apparent what a star he was. Indeed Nick, Leon really came up for Saints when it mattered. There doesn't seem to be anyone in their consortium who really has the clout to do the same and living in Devon these days, their so-called fans buyout looks rather different to the one at Exeter! I cannot see how they can service potentially £14-18m of liabilities if people on here are correct - and it could be more - in League 2, without a sugar daddy of some kind. That's without the considerable working capital they will need, especially with the wages they have been used to paying and lack of bringing young players through - O'Neill, Harris and Magri excepted but that's poor for a club that have spent the last 20+ years in the top 2 divisions. I have to say, I don't think they have gotten away with it anymore.... Link to comment Share on other sites More sharing options...
melmacian_saint Posted 24 January, 2013 Share Posted 24 January, 2013 More importantly, are they finally playing this weekend? Link to comment Share on other sites More sharing options...
carljack Posted 24 January, 2013 Share Posted 24 January, 2013 More importantly, are they finally playing this weekend? Was that paying or playing? Link to comment Share on other sites More sharing options...
trousers Posted 24 January, 2013 Share Posted 24 January, 2013 More importantly, are they finally playing this weekend? Will be a shame to see their non losing streak come to an end Link to comment Share on other sites More sharing options...
hypochondriac Posted 24 January, 2013 Share Posted 24 January, 2013 Thought I explained to you those comments in a personal phone call !! Obviously you have short memory , so perhaps it's you that is clueless ! What were the reasons for the comments? Link to comment Share on other sites More sharing options...
tony13579 Posted 24 January, 2013 Share Posted 24 January, 2013 I do feel sorry for Farmery, he obviously loves Pompey and is desperately doing his best. It seems to me he is out of his depth. I notice the HNW are not giving the money but just having it put in as a loan against the stadium, not like Leon Crouch who gave the money to save the club, no strings attached. As time goes on it becomes more apparent what a star he was. I thought the high net worth's were only leanding the money till January... LOL Link to comment Share on other sites More sharing options...
trousers Posted 24 January, 2013 Share Posted 24 January, 2013 Neil Allen @pn_neil_allen #Pompey set to sign Yassin Moutaouakil. A French full back who previously trialled at the club in 2009. Link to comment Share on other sites More sharing options...
hutch Posted 24 January, 2013 Share Posted 24 January, 2013 Doesn't "French defender set to sign" sound so much better than "Non-league defender set to sign" and doesn't "Pompey to offer pair new deals" sound so much better than "Pompey hope two players will agree to stay for another month on reduced terms" and doesn't "Pompey midfielder wins international call up" sound so much better than "QPR midfielder who has never played for Pompey wins international call up" The barrel is being soundly scraped. Link to comment Share on other sites More sharing options...
trousers Posted 24 January, 2013 Share Posted 24 January, 2013 Doesn't "French defender set to sign" sound so much better than "Non-league defender set to sign" and doesn't "Pompey to offer pair new deals" sound so much better than "Pompey hope two players will agree to stay for another month on reduced terms" and doesn't "Pompey midfielder wins international call up" sound so much better than "QPR midfielder who has never played for Pompey wins international call up" The barrel is being soundly scraped. Indeed....and the cheeky scamp of the day award goes to.... FM Saints Researcher @MatthewLeGod @pn_neil_allen French full back set to sign certainly sounds better than "Hayes & Yeading player set to sign". Link to comment Share on other sites More sharing options...
Matthew Le God Posted 24 January, 2013 Share Posted 24 January, 2013 I can't let the opportunity to mention to Neil Allen what a deluded "journalist" he is pass by. Link to comment Share on other sites More sharing options...
trousers Posted 24 January, 2013 Share Posted 24 January, 2013 Jordan Cross @pn_jordan_cross One of the most surreal #Pompey pressers ever with the removal vans in and everyone clubbing together to carry the sofas out of Eastleigh! Link to comment Share on other sites More sharing options...
solentstars Posted 24 January, 2013 Share Posted 24 January, 2013 hope there games get called off leading to no income coming in again Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 24 January, 2013 Share Posted 24 January, 2013 Jordan Cross @pn_jordan_cross One of the most surreal #Pompey pressers ever with the removal vans in and everyone clubbing together to carry the sofas out of Eastleigh! Those will be the sofas chinny has a charge over! hahahahahah! Link to comment Share on other sites More sharing options...
bridge too far Posted 24 January, 2013 Share Posted 24 January, 2013 Those will be the sofas chinny has a charge over! hahahahahah! Unless they're looking for the odd £ coin to swell the coffers Link to comment Share on other sites More sharing options...
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