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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Channon's Sideburns

Channon's Sideburns

Posted
Posted
It may be a New Year but the skates still show the same delusion.

 

Once I got back to the car after the afternoon at SMS I caught the last 20 mins of Radio Solent's sport programme. I was in time to hear the tweet about their defeat today not helping their promotion campaign and laughed it off as a nutjob having a little fun,,,, but maybe it wasn't . There was then an interesting conversation between the Solent guy and a skate player which concluded out that as their next game was against "lowly" Accrington they would be able to get 3 points. It was not pointed out that Accrington are only a point behind the Skates. I was expecting the game to be described as a relegation 6 pointer .... but of course not as Accrington are obviously so inferior to the Skates.

 

Until they begin to show respect for the division they are in , this thread has plenty of mileage in it.

 

Wouldn't be good for Solent if they told it how it REALLY is I guess....that being said, the new Solent presenter does seem to be a bit 'Skate happy'...

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trousers

trousers

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-to-swoop-for-swansea-defender-1-5781780

 

Pompey will today complete a loan deal for Swansea’s Daniel Alfei.

The 21-year-old right-back will be Richie Barker’s first Blues recruit as he seeks to revamp his squad.

With Danny East currently sidelined with an ankle injury, Yassin Moutaouakil out-of-favour and Joe Devera effective in the centre of defence, Alfei has been targeted to step in.

The Welsh under-21 international has not played first-team football this season – but previously made four appearances for the Swans, as well as spending two loan spells with Wrexham.

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Wes Tender

Wes Tender

Posted
Posted
It may be a New Year but the skates still show the same delusion.

 

Once I got back to the car after the afternoon at SMS I caught the last 20 mins of Radio Solent's sport programme. I was in time to hear the tweet about their defeat today not helping their promotion campaign and laughed it off as a nutjob having a little fun,,,, but maybe it wasn't . There was then an interesting conversation between the Solent guy and a skate player which concluded out that as their next game was against "lowly" Accrington they would be able to get 3 points. It was not pointed out that Accrington are only a point behind the Skates. I was expecting the game to be described as a relegation 6 pointer .... but of course not as Accrington are obviously so inferior to the Skates.

 

Until they begin to show respect for the division they are in , this thread has plenty of mileage in it.

 

This will be the same lowly Accrington Stanley that they couldn't beat away in August. Mind you, this match will be an entirely different kettle of Skates, as this will be played at the home of the most passionate supporters in World Football, at their stadium of dreams and as such will be akin to Accrington Stanley's Cup Final. If they win, it will go down in the annals of their history as one of their most illustrious giant-killing victories.

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Ken Tone

Ken Tone

Posted
Posted
2014 has started well then.Must get my posts up' date=' I'm slipped to 8th... Enjoyed the sabbatical, now back to enjoy the festivities.I have it on good authority that seen in a 'behind closed doors' friendly...here is their secret signing for the 2nd half of the season...[img']http://www.saintsweb.co.uk/attachment.php?attachmentid=774&d=1317032764[/img]
At least you've got the choice mate. My annual £5 was paid by Paypal in mid December, but I've been relegated to 'registered user! status nonetheless, so I can't make more than 3 posts a day now! And my messages via the 'contact us' link are being ignored. And of course I can't now send a PM! Anyone able to contact one of the administrators for me directly please? Or maybe just forward this message to one of them as a PM?
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Ken Tone

Ken Tone

Posted
Posted
At least you've got the choice mate. My annual £5 was paid by Paypal in mid December, but I've been relegated to 'registered user! status nonetheless, so I can't make more than 3 posts a day now! And my messages via the 'contact us' link are being ignored. And of course I can't now send a PM! Anyone able to contact one of the administrators for me directly please? Or maybe just forward this message to one of them as a PM?

 

Thanks to whoever took notice of this. Have how been reinstated it appears.

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TopGun

TopGun

Posted
Posted

Portsmouth till i die

 

2:31 PM on 02/01/2014

 

Heres a very long shot Le Fondre wants to leave Reading. Try and get him on loan for the rest of season. Proven goal scorer

 

northterrace

 

3:26 PM on 02/01/2014

 

I am guessing that Connelly must be one of (if not the) biggest earners at the club.

 

Show him the door and get Kevin Phillips from CP.

 

So very, very funny!

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Clapham Saint

Clapham Saint

Posted
Posted
Portsmouth till i die

 

2:31 PM on 02/01/2014

 

Heres a very long shot Le Fondre wants to leave Reading. Try and get him on loan for the rest of season. Proven goal scorer

 

northterrace

 

3:26 PM on 02/01/2014

 

I am guessing that Connelly must be one of (if not the) biggest earners at the club.

 

Show him the door and get Kevin Phillips from CP.

 

So very, very funny!

 

I hear Rooney is unhappy at United. They should tear up Connelly's contract (irrespective of his wishes) and get Rooney in on loan ASAP.

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trousers

trousers

Posted
Posted

Wayhay..... It's Rallyboy new player interview template time...

 

http://www.portsmouthfc.co.uk/news/article/alfei-arrives-on-loan-1270800.aspx

 

Blues snap up Swansea defender.

Pompey have signed Daniel Alfei on a one-month loan deal from Swansea, subject to Premier League and international clearance.

 

The 21-year-old right-back is a product of the Welsh club’s academy and will wear the number 15 shirt for the Blues.

 

And he is hoping to get a regular run of games during his time at Fratton Park

Alfei said: “It’s exactly what I’ve been looking for – a massive club to come to and play some football.

 

“There are big crowds here and it’s the perfect move at this stage of my career.

 

:mcinnes:

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Dalek2003

Dalek2003

Posted
Posted
It may be a New Year but the skates still show the same delusion.

 

Once I got back to the car after the afternoon at SMS I caught the last 20 mins of Radio Solent's sport programme. I was in time to hear the tweet about their defeat today not helping their promotion campaign and laughed it off as a nutjob having a little fun,,,, but maybe it wasn't . There was then an interesting conversation between the Solent guy and a skate player which concluded out that as their next game was against "lowly" Accrington they would be able to get 3 points. It was not pointed out that Accrington are only a point behind the Skates. I was expecting the game to be described as a relegation 6 pointer .... but of course not as Accrington are obviously so inferior to the Skates.

 

Until they begin to show respect for the division they are in , this thread has plenty of mileage in it.

 

Which is why they still need to go down a league or more.

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suewhistle

suewhistle

Posted
Posted
Which is why they still need to go down a league or more.

 

Oh gawd, no! Can you imagine "This is a massive, massive club with amazing crowds for the Conference South. We'll have to watch Eastleigh though, as it'll be their cup final; playing here at Barton's Road"* [*As if a nutjob wouldn't know that's where H&W play.]

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Gemmel

Gemmel

Posted
Posted
So the 11 "Presidents" have pumped £500k of their own cash into the club to pay for improvements to Fatpipes Park. Wonder if they have invaded their equity stakes accordingly?

 

Pompey’s presidents have dipped into their pockets to stump up more than £450,000 for improvements to Fratton Park.

 

 

The 11 members have stepped forward to fund essential safety work required to restore the ground to its 20,000-plus capacity.

 

Fratton Park was reduced to a 18,200 attendance in August as a result of the ongoing lack of maintenance and investment into the club’s infrastructure.

 

Now the six-figure sum has been raised between the presidents to complete the improvements required to satisfy Portsmouth City Council and the licensing authority.

 

Work includes the installation of a sprinkler system in the north and south stands, upgraded electrical systems around the stadium and a new disabled viewing facility in the north-east corner.

 

In addition, there will be improved stairwell access to the North Stand G section and the fixing of the long-standing problems of leaks in the South Stand roofs.

 

Previously, the presidents, which include board members Iain McInnes, Chris Moth, John Kirk and Mick Williams, each contributed more than £50,000 to the club.

 

The others involved are Eric Coleborn, Martin Moyse, Martin Price, Ian Silvester, John Crossley, John Partridge, Ken Terry and Stuart Robinson.

 

The money required to fund the essential work was not in the current budget, prompting the presidents to intervene.

 

A rolling programme of Fratton Park improvements will start this month, with the aim of achieving a 20,000-plus capacity for the start of the 2014-15 campaign.

 

The investment will also see the presidents’ percentage ownership in the club increased, although the Trust retains the majority shareholder with 52.7 per cent of the shares.

 

So the trust go from 59 to% to 52% overnight..... One more round of maintenance and guess what..........

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trousers

trousers

Posted
Posted
The investment will also see the presidents’ percentage ownership in the club increased, although the Trust retains the majority shareholder with 52.7 per cent of the shares.

 

So the trust go from 59 to% to 52% overnight..... One more round of maintenance and guess what..........

 

Yeah, but, no but.... the presidents are all massive Pompey fans too, so even if they did end up with a majority stakeholding it would still be a massive fan owned club, innit?

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Gemmel

Gemmel

Posted
Posted
Didn't hear much consultation with the Trust on reducing their share. I'm guessing there's some mighty miffed skates out there.

 

The PST board has unanimously agreed to accept a £450k injection of cash from the club’s President Investors to enable essential, long overdue safety work on Fratton Park to be completed.

The group, which comprises individual Pompey fans who have each already put sums of more than £50,000 into the club, has raised a further significant six-figure sum which could see our capacity restored to around 20,000 for next season.As a result of the additional investment, the PST remains the majority shareholder in the club with 52.7% of the shares.

The club has been operating on a reduced capacity since the start of the season, after Portsmouth City Council, the licensing authority, came up with a list of urgent improvements the club needs to undertake.

Ken Malley, Vice Chairman of the PST said – “This is a definite New Year bonus. The Board of the Trust were pleased to accept the increased investment from the Presidents. It comes at a time when we are under pressure to implement an assortment of ground improvements and means that we need not impinge on funds that were earmarked for development of the first team squad”.

Club Chief Executive Mark Catlin told the club’s official site “These works are the legacy of the past few years where work to keep the ground up to scratch was allowed to lapse. It is essential work, but the money to do it is not in our current budget."

The works, which are scheduled to start in January, include:-·

Installation of a sprinkler system in the North and South Stands·

Upgraded electrical systems around the stadium·

New disabled viewing facility in north east corner·

Improved stairwell access to North Stand G Section

In addition, there will be a series of other essential repairs, including fixing long-standing leaks in the South Stand roofs.

Ashley Brown, Chairman of the PST added – “The PST has worked very closely with our presidents since the early days of our efforts to buy the football club. I continue to be impressed with their dedication to the cause both with the provision of their experience but also now further financial backing”.

The PST is keen to reinforce the fact that we remain the majority shareholder and the potential to purchase shares (and therefore increase our majority shareholding further) will remain open until early April. We would actively encourage any fans who have yet to convert their pledge or who may wish to buy a share to get in touch with us. Alternatively you can visit the ‘Trust Bus’ on a match day to discuss the options open to you.

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CB Saint

CB Saint

Posted
Posted
The PST board has unanimously agreed to accept a £450k injection of cash from the club’s President Investors to enable essential, long overdue safety work on Fratton Park to be completed.

The group, which comprises individual Pompey fans who have each already put sums of more than £50,000 into the club, has raised a further significant six-figure sum which could see our capacity restored to around 20,000 for next season.As a result of the additional investment, the PST remains the majority shareholder in the club with 52.7% of the shares.

The club has been operating on a reduced capacity since the start of the season, after Portsmouth City Council, the licensing authority, came up with a list of urgent improvements the club needs to undertake.

Ken Malley, Vice Chairman of the PST said – “This is a definite New Year bonus. The Board of the Trust were pleased to accept the increased investment from the Presidents. It comes at a time when we are under pressure to implement an assortment of ground improvements and means that we need not impinge on funds that were earmarked for development of the first team squad”.

Club Chief Executive Mark Catlin told the club’s official site “These works are the legacy of the past few years where work to keep the ground up to scratch was allowed to lapse. It is essential work, but the money to do it is not in our current budget."

The works, which are scheduled to start in January, include:-·

Installation of a sprinkler system in the North and South Stands·

Upgraded electrical systems around the stadium·

New disabled viewing facility in north east corner·

Improved stairwell access to North Stand G Section

In addition, there will be a series of other essential repairs, including fixing long-standing leaks in the South Stand roofs.

Ashley Brown, Chairman of the PST added – “The PST has worked very closely with our presidents since the early days of our efforts to buy the football club. I continue to be impressed with their dedication to the cause both with the provision of their experience but also now further financial backing”.

The PST is keen to reinforce the fact that we remain the majority shareholder and the potential to purchase shares (and therefore increase our majority shareholding further) will remain open until early April. We would actively encourage any fans who have yet to convert their pledge or who may wish to buy a share to get in touch with us. Alternatively you can visit the ‘Trust Bus’ on a match day to discuss the options open to you.

 

£450k to polish a turd :lol:

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Gemmel

Gemmel

Posted
Posted

Yesterday the budgets were overflowing from additional revenue. Today they don't cover the required maintenance budget. It's taken half a season of ownership to go back the presidents for extra money. In other news the player budget has been increased to support the new manager.

 

Without knowing anything about the work required, my guess would be that fat pipes, will need significant money thrown at it every year and the next shortfall will be very telling. The trust will not want to go below the 50% (It's not relevant as their % isn't reflected in numbers in the boardroom - Funny that) so it will depend on how much they need the cash.

 

2014 should be good for a few laughs.

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trousers

trousers

Posted
Posted (edited)
Didn't hear much consultation with the Trust on reducing their share. I'm guessing there's some mighty miffed skates out there.

 

Nah....never......

 

http://www.portsmouth.co.uk/sport/pompey/pompey-presidents-step-in-to-fund-ground-improvements-1-5783399

 

Having paid my £1000 pledge, I don't recall being asked to vote whether this expenditure was absolutely necessary at this point of time.

 

Did all this work have to be done in one go? Could this money not have been loaned? Could an agreement not have been put in place that once the money was paid back to the board that they reduced their shareholding again? What options were looked at? A few of the unanswered questions.

 

You do realise that you can question these decisions without being critical or being a "bad fan"??? Whilst it's a good thing that the board has done this, why did it get announced after the event and who made the decision for the shareholding to be changed. The work was not "urgent" either as it was carried out to bring the capacity back to 20,000ish, which we haven't got close to since the first day of the season, and could have waited. I'm pretty sure when the time comes to sell the club to new owners, this increase in shareholding will pay back the Presidents more than this £450,000!!!

 

I do worry when I hear that through transactions like this the presidents increase their shareholding. It took a lot to become a fan owned club and we shouldn't lose that because of the few. Having said that it's good news as long as it hasn't been spent out of the Tesco money and they've increased their shareholding through money that is the club's rightfully.

 

I have to ask why these figures weren't included in the budget when the club was taken over, considering how important the infrastructure is to the club's future??? Are the Presidents going to slowly but surely change the balance of the shareholding through transactions like this???

 

This wasnt budgeted for? That tells me all I need to know! And slowly the percentage goes down! So what about the next time the club is hit with another large unforeseen bill?

Good to see the new era of transparency is working well. Tick tock....

Edited by trousers
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rallyboy

rallyboy

Posted
Posted

1.They are so far ahead of projected income that more budget has been offered to Barker for recruitment.

2.Yet they need emergency external funding to keep the ground legal...

 

Those two things don't really make sense when you put them together. :?

Why not just use the extra money to service the The Fortress of Fat rather than borrowing, and surrendering shareholding?

 

I'm sure this new loan isn't a gentle takeover and shares-grab by the heroic presidents, under the guise of kindness and loansharkery to a struggling company with no credit history.

 

There are a few rich pompey fans on that list who may one day have to decide firstly what is best for their cash - and then what is best for their club.

 

First thought is - too many people with a financial interest and a say.

If you were looking for a strong CEO you wouldn't appoint the Dave Clark Five.

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badgerx16

badgerx16

Posted
Posted
"I'm pretty sure when the time comes to sell the club to new owners, this increase in shareholding will pay back the Presidents more than this £450,000!!!"[/Quote]

 

They never 'sell on' to new owners, they're always bought out of trouble at a knock down price.

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Saint Lindford

Saint Lindford

Posted
Posted

Another head in sand moment from the blue few..... This is in reference to the BBC story about Bolton being £163m in debt.

 

find it hard to believe mr gartside when he says it is all down to relegation, mmm you still have parachute payments, so the losses shouldnt be huge, unless your still paying a massive squad on daft wages, in which case its not down to relegation, its down to poor housekeeping

 

It is the last little bit that had me spraying my tea over my keyboard! Just priceless!

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OldNick

OldNick

Posted
Posted

As usual Im a bit confused...it says the loanees have put in 50k each!! I thought they had put in massive amounts to get control of the club. Can somebody also tell me why they have made priority to get the ground up to 20k capacity as it is patently obvious that will not be needed for some years. i do wonder if it is a smokescrenn that perhaps they were under pressure to reduce the ground capacity ever more due to safety issues and so do a thing saying it is to increase capacity. i would assume the safety measures they are putting in are the same needed for a 10k ground or a 20k one

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ericofarabia

ericofarabia

Posted
Posted
Why install a new sprinkler system . Why not redirect the leaky roof water onto the pitch . It will help save money

 

Looks like they've done the upgrade you suggested already, or maybe as suggested further up, the fat has clogged up all the drains!!!

 

Either way the yearly matchday income of 300 million quid that the club brings into the city has already taken a hit only 1 weekend into the new year LOL!!

 

And no revenue for the club either ha ha. Cash Flow what cash flow? Ticket refunds or has the money been spent already?

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Minsk

Minsk

Posted
Posted
Guess that will be re-arranged as a night game. Won't help with cash flow.

 

And a week's wasted wages on their latest loanee.

 

Come to think of it, isn't there a limit on how many long term and short term loanees a club can have in one season? Anybody remember how many they are allowed and how many they have had thus far?

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EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
And a week's wasted wages on their latest loanee.

 

Come to think of it, isn't there a limit on how many long term and short term loanees a club can have in one season? Anybody remember how many they are allowed and how many they have had thus far?

 

:mcinnes: Rules? :scared: But they don't apply to the skates, haven't you realised this yet? :rolleyes:

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Clapham Saint

Clapham Saint

Posted
Posted

 

This money has been introduced by the Presidents as equity (ie an investment, which is therefore at risk, not a loan) which is why the PST shareholding position has reduced to around 53%. - See more at: http://www.fansnetwork.co.uk/football/portsmouth/news/33710/pompey-director-explains-new-investment-in-club?utm_source=twitterfeed&utm_medium=twitter#sthash.1AnVUMCn.dpuf

 

So... are they suggesting that the alternative (i.e. making a loan to a company), carries no risk?

 

I'm sure that all those now waiting for their 4p in the £ will be pleased to know this

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