Pompey Takeover Saga

[Colinjb]

So the ten thousand non pst contributors do not have a say in all matters PFC because they did not fork out a grand?

 

And what about those who did? Do they actually get a say too?

 

Of course not, they just contributed to the Ponzi scheme.

[Weston Super Saint]

And what about those who did? Do they actually get a say too?

 

Of course not, they just contributed to the Ponzi scheme.

 

That can't be true.

 

There's a huge sign above the stands at FP stating proudly that they 'own their club'. Ownership must mean a say in the running surely? There's no way the Skates could have been fooled by an elaborate ponzi scheme?

[holepuncture]

http://fansonline.net/portsmouth/mb/view.php?id=511463

 

They smash up their own town, no surprise they would turn on themselves like this.

 

Poor old Mick, though it must grate the the majority of the few who are not PDT ponzi members to see these directors in the papers wining and dining, constantly popping champange corks, and getting subsequent drink driving court appearances as a result.

 

Dosent really send the right message, in fact the directors getting p*ssed is about the most transparent we have seen of the PDT, LOL.

[Crazy Diamond]

They smash up their own town, no surprise they would turn on themselves like this.

 

Poor old Mick, though it must grate the the majority of the few who are not PDT ponzi members to see these directors in the papers wining and dining, constantly popping champange corks, and getting subsequent drink driving court appearances as a result.

 

Dosent really send the right message, in fact the directors getting p*ssed is about the most transparent we have seen of the PDT, LOL.

 

To be fair, kudos on the moose bit. Classic Python.

[trousers]

http://www.theguardian.com/football/blog/2013/sep/06/portsmouth-supporters-trust-ownership?CMP=twt_gu

 

After four traumatic years blighted by administration, disastrous ownership and plummeting through the divisions, Pompey are now owned by their fans, and ready to rise again

 

 

I though Conn was supposed to be one of the more clued up journos on Pompey? Bridge Too Far...?

Edited 6 September, 2013 by trousers

[Danbert]

"At Portsmouth's Fratton Park last Saturday, a golden sun shone on the vast car park and scrubs of derelict land to which so many far-flung speculators were drawn..."

 

He's also got factless' flair for a heart-string-tugging flowery sentence. All he needs to do is to break those horrible paragraphs down into nice sentences and he can be a proper member of the Pompey school of journalism.

[holepuncture]

http://www.theguardian.com/football/blog/2013/sep/06/portsmouth-supporters-trust-ownership?CMP=twt_gu

 

 

 

 

I though Conn was supposed to be one of the more clued up journos on Pompey? Bridge Too Far...?

 

At Portsmouth's Fratton Park last Saturday, a golden sun shone on the vast car park and scrubs of derelict land to which so many far-flung speculators were drawn, tried and failed to make money, and left an old football club bust.

 

The bid borrowed £1.6m from Portsmouth council, now repaid, and £1.2m from a local property developer, Stuart Robinson, to help pay Chainrai his £3m. Robinson has bought the car park and adjoining land, which was subject to so many unrealised plans, and intends to build a supermarket on it. Any planning permission is expected to result in him granting some land to the club to finally expand two of the tired old stands, and some money to help do it.

 

LOL, oh dear PDT!

 

Robinson will do well out of this.

[trousers]

http://www.portsmouthfc.co.uk/news/article/commercially-speaking-micah-hall-qa-1039938.aspx

 

PFC Are you happy with the launch of the third kit?

MH Hardly! The launch could not have gone much worse. As a club and a team we delivered two fabulous kit launches. However, with the third we shot ourselves in the foot. We win as a team and lose as a team. We made mistakes in terms of the ways in which the kit came into the world. We want everything about Pompey to be classy.

 

 

PFC Lots of people have asked about whether it’s better for the club to buy shirts in Sports Direct or at the club?

MH The answer is that the more shirts sold the more the club benefits, wherever you buy them. I obviously can't lay out the internal specifics of our contract, but please trust us when we say it’s always immensely helpful to the club when you buy a shirt.

 

So, the "owners of the club" (i.e. "the fans") aren't allowed to know about the terms of contracts etc? Strange kinda ownership if you ask me...

Edited 6 September, 2013 by trousers

[stevegrant]

[Minty]

PFC How is this new club website going?

 

MH The figures are starting to come in and we are now one of the big club websites out there with massive volumes of traffic out of all proportion to our status. People should remember that even by reading though our website they are helping the club earn money and attract sponsors. We received well over half a million page impressions in our first month.

 

That means us... always doing out bit for those less fortunate than ourselves.

[bridge too far]

http://www.theguardian.com/football/blog/2013/sep/06/portsmouth-supporters-trust-ownership?CMP=twt_gu

 

 

 

 

I though Conn was supposed to be one of the more clued up journos on Pompey? Bridge Too Far...?

 

Yes I'm disappointed too, Trousers - but I'm also heartily SICKENED by all those sycophantic good wishes from Saints supporters!

[stevegrant]

That means us... always doing out bit for those less fortunate than ourselves.

AdBlock says otherwise

[SOTONS EAST SIDE]

{After four traumatic years blighted by administration, disastrous ownership and plummeting through the divisions, Pompey are now owned by SOME fans, and ready to rise again.}

 

There you go Trousers, I have proof read it. And corrected the mistake!

Edited 6 September, 2013 by SOTONS EAST SIDE

[Winchester Red]

MH The figures are starting to come in and we are now one of the big club websites out there with massive volumes of traffic out of all proportion to our status. People should remember that even by reading though our website they are helping the club earn money and attract sponsors.

 

This for me is the route of the whole issue with pfc.

 

They can't accept what they are... ever.

 

They always have to be the biggest or the bestest. If they can't genuinely be, then they'll just make it up.

 

It's a very weird mentality.

 

It's as though they don't know any other way of measuring success

[Waterside.saint]

This for me is the route of the whole issue with pfc.

 

They can't accept what they are... ever.

 

They always have to be the biggest or the bestest. If they can't genuinely be, then they'll just make it up.

 

It's a very weird mentality.

 

It's as though they don't know any other way of measuring success

 

Thats the best summary of their problem I've seen.

[trousers]

http://m.portsmouth.co.uk/sport/pompey/former-boss-envious-of-fan-owned-pompey-1-5462226

 

Some nice feedback for Mr Cotterill in the comments section.

[OldNick]

http://m.portsmouth.co.uk/sport/pompey/former-boss-envious-of-fan-owned-pompey-1-5462226

 

Some nice feedback for Mr Cotterill in the comments section.

talk about blatantly touting for a job

[alehouseboys]

This for me is the route of the whole issue with pfc.

 

They can't accept what they are... ever.

 

They always have to be the biggest or the bestest. If they can't genuinely be, then they'll just make it up.

 

It's a very weird mentality.

 

It's as though they don't know any other way of measuring success

 

Thats the best summary of their problem I've seen.

 

It was, wasn't it...well that and rallyboy's regular insightful contributions.

[rallyboy]

deluded ******s.

[trousers]

It was, wasn't it...well that and rallyboy's regular insightful contributions.

 

 

deluded ******s.

 

[Dark Munster]

http://fansonline.net/portsmouth/mb/view.php?id=511824

 

Moldova, 123rd in fifa rankings, just below Antigua.

 

Let's see what he can do when England play against a proper team,Scoring against Scotland and Moldova is not that hard.

 

Lambert took his goal well but then any player could have scored it. When we were in the PL we had plenty of internationals playing for the pride of the south. As for bitterness It's your lot that are bitter that you'll always be a small club and Pompey will always be Hampshires most successful club

 

The fact that Lardbutt is probably England's best player is a sad indictment of how poor the quality of England's internationals is.

 

I'll say it again. Bitter much, skates?

[St. Neil]

One sold at least.

 

[Hatch]

3,2,1

[alehouseboys]

deluded ******s.

 

 

Nutshell.

 

 

Succinct.

 

 

 

 

 

Best yet.

[Joey-deacons-left-nut]

And so,the very public blackmail of for,re players owed money begins....

 

http://twitter.com/slowhandtrap/status/376231396651458560/photo/1

 

http://www.portsmouth.co.uk/sport/pompey/pompey-s-new-owners-are-left-to-foot-6-72m-bill-to-former-players-1-5468025

 

Disgusting, blatantly obvious they want to keep the final parachute payment and are trying to pressure the players....

[Torres]

Wah wah wah, why should we have to pay money that were legally and morally obliged to pay, wah wah wah.

 

It's f-ing pathetic.

[Weston Super Saint]

 

http://www.portsmouth.co.uk/sport/pompey/pompey-s-new-owners-are-left-to-foot-6-72m-bill-to-former-players-1-5468025

 

Disgusting, blatantly obvious they want to keep the final parachute payment and are trying to pressure the players....

 

Lol.

 

Trying to blame the football creditors rule as well. They truly have the most retarded 'principles' over there. Without the football creditors rule they would have been declared bankrupt owing over £160m. With the FC rule they were still bankrupt owing £160m, but only had to pay back 20% of the money [originally ].

 

The FC rule has been their saving grace for the past five years and now they want to start pointing the finger and shouting how unfair it is!

 

As for Steve Bone, what a complete and utter bell end. Owed money from not one, but BOTH administrations!

[ottery st mary]

They took over the club knowing that debts had to be paid.

 

I would suggest that the ex players money will go straight from the final parachute monies..

 

Surely the PST group accounted for that in their dealings when taking over the club...........SURELY they did:rolleyes:

[rallyboy]

That's published as if it is news but it has always been the case.

The Trust agreed to pay off debt at that much reduced level, and people who chucked their grand down that blackhole knew where it was going....If they had half an ounce of education and hadn't been caught up in the blue wave of euphoria over a 'share' issue.

 

No one can moan about that debt now, it started off at £24M.

 

Though the page of photos of the players has confused me a bit about heroes and villains - where do they all stand now, greedy or battling?

I guess we can we decide that on a daily basis when we rewrite history.

All six months of it.

 

They'll be fine, paying it is all part of becoming the largest and most plucky, partially-fan-owned community club that the history of sport will ever see.

And charges on all pfc assets by the PFA will make sure it happens, unless the union has used them to bet on Indian cricket matches.

[redkeith]

Spreading the payments over 4 years so that they can use the parachute payments to buy the ground is crazy.

 

There are no parachute payments after this season, so they will have to find over £108k a month (close season as well ) to pay off the former heroes. That works out at 2,600 fans paying £20 for each home game or 25% of gate receipts before they pay their current squad, let alone Steve Bone.

[redkeith]

Spreading the payments over 4 years so that they can use the parachute payments to buy the ground is crazy.

 

There are no parachute payments after this season, so they will have to find over £108k a month (close season as well ) to pay off the former heroes. That works out at 2,600 fans paying £20 for each home game or 25% of gate receipts before they pay their current squad, let alone Steve Bone.

[andysstuff]

They took over the club knowing that debts had to be paid.

 

:

 

This

[Wes Tender]

http://fansonline.net/portsmouth/mb/view.php?id=511824

 

Moldova, 123rd in fifa rankings, just below Antigua.

 

Let's see what he can do when England play against a proper team,Scoring against Scotland and Moldova is not that hard.

 

Lambert took his goal well but then any player could have scored it. When we were in the PL we had plenty of internationals playing for the pride of the south. As for bitterness It's your lot that are bitter that you'll always be a small club and Pompey will always be Hampshires most successful club

 

The fact that Lardbutt is probably England's best player is a sad indictment of how poor the quality of England's internationals is.

 

 

What the idiotic halfwit Skate doesn't seem to realise, is that Lambert put a goal past England's Goalkeeper and their Skate defence crammed full of internationals when he played for us in the third division against them riding high in the Premiership. So which way does the moron want to cut it? That James and their illustrious defence were crap, or that Lambert had something about him even then? He has since also scored goals against top international defenders playing for the glory teams of the Premiership too.

 

I think that they must be jealous that they won't be able to afford such players as Ricky and Osvaldo within the foreseeable future.

[Crazy Diamond]

What the idiotic halfwit Skate doesn't seem to realise, is that Lambert put a goal past England's Goalkeeper and their Skate defence crammed full of internationals when he played for us in the third division against them riding high in the Premiership. So which way does the moron want to cut it? That James and their illustrious defence were crap, or that Lambert had something about him even then? He has since also scored goals against top international defenders playing for the glory teams of the Premiership too.

 

I think that they must be jealous that they won't be able to afford such players as Ricky and Osvaldo within the foreseeable future.

 

It's not even worth responding to, it's just pathetic. If that's not bitterness I don't know what is.

[Wes Tender]

It's not even worth responding to, it's just pathetic. If that's not bitterness I don't know what is.

 

 

I derive enjoyment from it. Oh, shame on me; it's cruel to mock the afflicted. I'm no better than the Victorians poking sticks at the inmates of Bedlam.

[spyinthesky]

And yet the Pompey News reckons Guy and Co are looking to bring in more players as the Board has increased his budget!!

[biondani]

http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027

 

Excellent reading

[johnnyboy]

This seems to be causing a bit of a fuss on POL

 

 

 

NOTICE IS GIVEN that the fourth annual general meeting of the Society will be held at The Victory Suite, Fratton Park, Frogmore Road, Portsmouth PO4 8RA on Monday, 23rd September 2013 at7.00 pm for the following purposes:

 

1 Ordinary business

 

1.1 to receive and consider the report of the Society Board and the statement of accounts of the Society for the period ended 31st March 2013;

 

1.2 to receive the results of the election of members of the Society Board.

 

1.3 to elect Taylor Cocks of 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, PO6 3TH as auditors for the ensuing year and authorise the Society Board to fix their remuneration.

 

2 Special business

 

2.1 to consider and if thought fit, pass the following as a Special Resolution:

 

"THAT the Society shall adopt the following additional Rules which shall be inserted after existing Rule 30 with the rules following the insertion being renumbered accordingly

 

31 The Society shall appoint three Directors ("Directors") of Portsmouth Community Football Club Limited (Company Number 7940335) ("PCFC") or such other number as may be agreed with the other shareholders of PCFC from time to time and shall appoint alternate directors for each.

 

32 Each appointment shall be for a period stipulated by the Board but any Director shall immediately resign if he or she is required to under Rule 38, or shall cease to be a member of the Society Board or a member of the Society.

 

33 No person shall be appointed a Director unless he or she has the relevant experience or qualifications to fit him or her as a Director of a public company nor if he or she is disqualified from being a member of the Society Board under Rule [65].

 

34 A director shall act without pay from PCFC, in good faith, in accordance with the Society's Rules and policies and shall comply with directions given by the Society Board.

 

35 A director shall attend all meetings of the PCFC Board so far as reasonably practicable and if he or she is unable to attend shall give reasonable notice to his or her alternate to attend in his or her place.

 

36 A director may withhold commercially confidential information from the Society Board provided to do so is not in conflict with the Society's Rules.

 

37 Each director shall promote the objects of the Society and transparency within PCFC.

 

38 Rules [66], [67], and [70] shall apply to each Director as though the word "Director" were read instead of "Society Board member" save in the case of Rule [67b] where the second reference to "Society Board members" shall remain unaltered."

 

REASON

 

The existing Rules do not provide for the ownership of the Football Club and the right of the Trust under the Shareholders Agreement to appoint not more than three Directors.

 

These Rules set out how they shall be appointed, what their duties are and how they must balance the requirements of the Club and the Board.

 

References to the numbering of Rules are to current Rules and will be changed if the Resolution is passed.

 

 

 

 

 

 

 

2.2to consider and if thought fit, pass the following motion:

 

that PST Board should be tasked to come up with a new “fit for purpose” Election Policy so that it is in place before the 2014 Elections after consultation with the Membership.

 

REASON

 

The new reality of PST as the majority shareholder in Portsmouth Community Football Club, means that a PST Trust Board Member could serve as a Director of the Football club. With this in mind it is paramount that the best possible candidates are elected by the Trust membership to the PST Board.

 

The current Trust Election process does not allow for Trust members to ask candidates about their views and experience. It also does not allow candidates to explain to Trust members what their views and ambitions for the future of the Trust are.

 

It is our view that the current PST Board Election process needs to be changed to give us the best chance of achieving that end.

 

 

 

 

The key changes we want to see are:

 

1. Candidates for Election should be allowed to communicate with Trust Members openly, using all available means including for example social media if they choose.

 

2. The Election process should allow for Candidates to be openly questioned by Trust Members in a number of Formal situations (perhaps including a hustings event in the Victory Suite, an online Q&A etc), to enable the membership to form a more rounded view of the Candidates capabilities.

 

3. Candidate applications and Member voting will in future be acceptable by electronic as well as traditional hard copy methods.

 

To ensure that this happens, we want the proposed new Election process to be brought back to the Trust Membership for vetting and approval, well in advance of the next set of Elections so that we then have a "fit for purpose" process in place for them.

 

Although we are aware of Motion 2.3 and that it overlaps this Motion, we do not wish the important and necessary revision of the Election Policy to be held back at all by a general revision of the Rules.

 

 

 

 

 

 

 

2.3to consider and if thought fit, pass the following motion:

 

The Members would like to thank Board members past and present for the successful purchase of the Club on behalf of the fans.

 

However, we recognise that the Rules and Election Rules are no longer fit for a Trust with a substantial stake in the ownership of the club. We therefore mandate the Board to set up a sub-committee to amend both, to reflect a co-operative business owner with a large number of stakeholders.

 

This should include ways of making the Trust a democratic, consultative body for the stakeholders. The sub-committee shall report back to the membership with the proposals at an EGM of the Trust to be heldno later than 31 March 2014.

 

REASON

 

The purpose of the motion is to mandate the Board to consult the membership and produce proposals for discussion over a sufficient period of time, not to try and set out in one motion at the AGM a pre-judged solution.

 

 

 

 

Date: 5th September 2013

 

By Order of the Board

 

Tony Foot

 

Secretary

 

 

 

 

A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and, on a poll, vote in his stead. A proxy may demand, or join in demanding, a poll. A proxy need not be a member of the company.

 

There are no service contracts with any member of the Board.

 

 

 

 

 

 

 

A Proxy Form is available on the website in the "Media" tab then "Downloads"

 

 

 

 

____________________________________________

 

 

 

 

The accounts for this past year are being finalised and will be published shortly

 

 

 

 

____________________________________________

 

 

 

 

Just a reminder, if you have not voted yet, you have until 6pm on Friday 6th September to submit your vote.

 

 

 

 

Send an email to elections@pompeytrust.com

 

 

 

 

Include your name, and then list up to six choices from the ones available, ie;

 

 

 

 

Tom Dearie

 

Mark Farwell

 

Stuart Hardman

 

John Kimbell

 

Ken Malley

 

Carl Paddon

 

Steve Tovey

 

Mick Williams

 

 

SJM1968, Yesterday at 11:51 AM Report

[Weston Super Saint]

http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027

 

Excellent reading

 

ROFLMFAO.

 

So, basically tricky trev took the decision last year to not bother paying any of the players?

 

Now, they are in a position that they have to play last season's team AND this season's team - and will be doing this for the next 3.5 years!

 

Hey, ho, at least they got their club back!

[Colinjb]

http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027

 

Excellent reading

 

Some astonishing sums of money there.

 

£6.5 million in total which they cannot walk away from as it would undermine the very rule that saved them.

[andysstuff]

http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027

 

Excellent reading

 

Whatever happened to 'Debt Free'. That's an unbelieveable amount of money to find.

[The Kraken]

 

F*cking hell!

 

[Window Cleaner]

 

F*cking hell!

 

 

 

they'll never manage it, just those payments will exceed their revenue. They should just be wound up and put out of their misery.

[hypochondriac]

they'll never manage it, just those payments will exceed their revenue. They should just be wound up and put out of their misery.

 

It will most likely be paid by the remaining parachute payment.

[benjii]

http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027

 

Excellent reading

 

Worth a copy and paste to illustrate its full majesty......

 

 

* * * * *

 

DAVID NUGENT

Total outstanding: £143,250

Payable by: 40 monthly payments of £3,581.25.

DAVID JAMES

£145,921.90 – 40 months of £3,648.05.

KANU

£155,314.50 – three lump-sum payments of £51,771.50 in March 2014, 2015 and 2016.

BENJANI

£214,572.73 – 4O months of £5,364.32.

HAYDEN MULLINS

£632,281.32 – 28 monthly payments of £21,867.19. One lump-sum payment of £20,000 in January 2016.

AARON MOKOENA

£288,844.80 – 40 months of £7,225.92.

DAVID NORRIS

£182,729.92 – 40 months of £4,568.26.

ARUNA DINDANE

£176,245.03 – 40 months of £4,406.13.

LUKE VARNEY

£153,818 – 40 months of £3,845.

ERIK HUSEKLEPP

£40,000 – lump-sum payment of £20,000 in January 2014 and January 2015.

HASSAN YEBDA

£264,491.44 – 40 months of £6,612.29.

STEPHEN HENDERSON

£42,935.86 – 40 month of 1,073.40.

GREG HALFORD

£162,802.76 – 40 months of £4,070.07.

RICARDO ROCHA

£165,136.61 – 40 months of £4,128.40.

JAMIE ASHDOWN

£78,731.92 – 40 months of £1,968.30.

JASON PEARCE

£29,162.51 – 40 months of £729.06.

HERMANN HREIDARSSON

£42,935.86 – 40 months of £1,073.40.

KELVIN ETUHU

£3,000 – one payment made on Aug 30, 2013.

JOEL WARD

£20,206.57 – 40 months of £505.16.

STEVE FINNAN

£88,312.50 – 40 months of £2,207.81.

MICHAEL BROWN

£472,375 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £6,809.38.

RICHARD HUGHES

£372,484.42 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £4,312.11.

LIAM LAWRENCE

£616,666.54 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £10,416.67.

DAVE KITSON

£608,333.36 – lump-sum payment of £150,000 on Aug 30, 2013. 40 months of £11,458.33.

TAL BEN HAIM

£1,633,333.36 – lump-sum payments of £650,000 on Aug 30, 2013 and £150,000 on Aug 31, 2014. 40 months of £20,833.33.

 

* * * * *

 

So, some edited highlights...

 

If those figures are correct, they have to pay £130,692 each month to former players!

 

Plus a bunch of one off payments. I assume the parachutes covered all those due this August.

 

Now, according to Deloitte's football finance review, in 2011/12 the average revenue of a League 1 club was £5m (down 8%) and in League 2 it was £3.3m(up 10%). Let's, perhaps generously, assume Pompey have a good revenue for a League 1 club (even though they're in League 2) - let's say their revenue is £6million (excluding spent parachute payments). They have to spend about £1,570,000 on monthly payments to former players. That's over a quarter of their revenue! Lol. Plus they have to pay the one off payments.

 

Can we please all take a minute to stand and applaud the following heros:

 

 

Mr David James: Not played for the Skatesfor ages yet taking the best part of a grand a week.

 

 

Mr N****wo Kanu: Proud recipient of £50k once a year for the next three years. Should help him now he's in his sixties. Thank goodness they managed to bend the rules to extend his previous contract.

 

 

Mr Hayden Mullins: A completely ****e player who the skates need to pay about £5k per week to for the next two years.

 

 

Liam Lawrence and Dave Kitson: Another £5k a week in total for these two plucky stalwarts for the next three and a bit years.

 

But..... the undisputed hero of the hour, the main-man, the chief rabbi:

 

Mr Tel Ben-Haim

 

Three and a bit years of just under £5k per week, plus £650k lump sum last month plus £150k lump sum this time next year.

 

 

Skates - the gift that keep on giving.

[Glasgow_Saint]

 

F*cking hell!

 

 

Ouch! Thought this thred should have been locked a long time ago. This gives it a licience to run for 3 more years minimum.

 

They must have just paid about £1.4m to cover the lump sums owed on Aug 30. Ouch, ouch, ouch

[FloridaMarlin]

So The Hero Nugent will be milking them of £3,500 for the next three and a half years. But, of course, that goal at St Marys was worth it.

 

Some other interesting names on that list, not least of all Hayden Mullins who is owed £632,000 and taking the thick end of £22,000 out of the club every month for the next 20 months.

 

I couldn't be bothered to do the maths, but I'm sure somebody on here will work out how much had to come out of the bank account on August 30.

 

And I'm also sure that somebody will work how much will come out of the club's account every month for ex-players, some of whom are getting more in a month than the current heroes.

 

Couple of things. Bearing in mind these payments are scheduled to be paid monthly - presumably to help the club - are the parachute payments paid in one lump? If the parachute payments are paid in lumps, can they be trusted to ring-fence them and not be tempted to spunk it on a few promotion-or-bust signings?

 

But the most interesting thing of all is how this got into the public domain.

 

Fair play to the Snooze for publishing it, but presumably they got the info from the club who are attempting to demonize the former heroes and turn them into villains.

 

What happened to contract confidentiality? I'm not sure if I would like my financial details splashed all over the place and I wonder what the PFA make of this disclosure of confidential information?

[Glasgow_Saint]

Monthly repayments are about £131k not including all the one offs

[andysstuff]

Monthly repayments are about £131k not including all the one offs

 

 

Or putting it another way, they've got to sell 131 'shares' a month just to stand still. More than 4 a day.

[benjii]

Or putting it another way, they've got to sell 131 'shares' a month just to stand still. More than 4 a day.

 

Er, no - obviously not. They have other sources of revenue apart from share sales.