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Our Position Or Pompey's?

Daren W

By Daren W,
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Delmary

Delmary

Posted
Posted
"In contrast to Standard Bank, who had a hold on all our finances, Barclays did everything they could to help us over the repayment of a £9.5 million loan."

 

Oh the irony....

The reason they're still supportive is P*mpey still have the Sky income. Just like us, they will withdraw their support once they are unable to squeeze anymore money from the carcass. It's going to be a long painful death for our south coast neighbours.
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aintforever

aintforever

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Posted
The reason they're still supportive is P*mpey still have the Sky income. Just like us, they will withdraw their support once they are unable to squeeze anymore money from the carcass. It's going to be a long painful death for our south coast neighbours.

 

They withdraw our support when they saw that Lowe was making a complete pigs ear of it and sending us down. If we looked like staying up they would have still backed us.

 

The worrying thing for the Skates is that I think their debt is secured against future TV money, if they go down they are fooked.

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Fitzhugh Fella

Fitzhugh Fella

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Posted
They withdraw our support when they saw that Lowe was making a complete pigs ear of it and sending us down. If we looked like staying up they would have still backed us.

 

The worrying thing for the Skates is that I think their debt is secured against future TV money, if they go down they are fooked.

 

what do you mean "if" :)

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Gorgiesaint

Gorgiesaint

Posted
Posted

 

You have to laugh at Storrie:

 

“Twice we were on the brink of going into administration and let’s be honest a great deal of that was down to Alexandre because he overspent on players and wages to chase a dream and couldn’t sustain it.”

 

and your job as Chief Executive was what exactly? I didn't hear you complaining when you were signing the cheques.

 

“And it is no coincidence at the time he withdrew his financial backing the South African bankers Standard Bank demanded complete repayment of a £34 million loan.”

 

and as a Chief Executive you're surprised by this!!!

 

Still great news that Gaydemak has ended up selling to the fake sheik and not the group with money :D

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Wes Tender

Wes Tender

Posted
Posted (edited)
You have to laugh at Storrie:

 

“Twice we were on the brink of going into administration and let’s be honest a great deal of that was down to Alexandre because he overspent on players and wages to chase a dream and couldn’t sustain it.”

 

and your job as Chief Executive was what exactly? I didn't hear you complaining when you were signing the cheques.

 

“And it is no coincidence at the time he withdrew his financial backing the South African bankers Standard Bank demanded complete repayment of a £34 million loan.”

 

and as a Chief Executive you're surprised by this!!!

 

Still great news that Gaydemak has ended up selling to the fake sheik and not the group with money :D

 

Even more interesting to read on that blog that appears to be quite accurate about Fahim so far, that according to him, the Fahim deal was leveraged against future income from the Premiership income, meaning that if true, Fahim doesn't really have the financial clout himself. It really does beg the question though as to why Gaydamak sold to Fahim when according to Storrie teller, there was real wealth behind his consortium.

 

http://dralfahim.blogspot.com/

Edited by Wes Tender
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docker-p

docker-p

Posted
Posted

I've posted similar on another thread but it's worth repeating......

We're in the third tier of English football. Our two home games so far this season have averaged over 19K attendance including when being live on sky.

Yesterday Portsmyth played Man City in the Premiership, a side boasting some of the worlds greatest footballing talent, and couldn't come close to selling out the meagre capacity. Row upon row of empty seats in the Fratton, along the side, in the corners everywhere.

Our position or theirs???? We're having a laugh.

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Delmary

Delmary

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Posted

:smt042:D

 

http://www.bbc.co.uk/dna/606/A56565390

 

comment by pompeyac (U14072513)

posted 1 Hour Ago

So when are we going to see his 48 page path to success which his spokesman said would put us in a better position than Arsenal. I would love to have a good read I like comedy. This bloke is a clown a cross between Mike Ashley and Michael Knighton. If he stays much longer then we will make Leeds look like a successful business empire. Remember he has already had 3 months to come up with future funding and all he has come up with is buying a replica kt and a baseball cap, I do hope he paid for it!!!

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Saint in Paradise

Saint in Paradise

Posted
Posted
Even more interesting to read on that blog that appears to be quite accurate about Fahim so far, that according to him, the Fahim deal was leveraged against future income from the Premiership income, meaning that if true, Fahim doesn't really have the financial clout himself. It really does beg the question though as to why Gaydamak sold to Fahim when according to Storrie teller, there was real wealth behind his consortium.

http://dralfahim.blogspot.com/

 

It said in that Daily Mirror link with Storrie that Gaydamak senior was about to be sued for 30 mill by one of the consortium

that Storie had got together, and also hinted that maybe the father really owned Pompey rather than the son. Well that is how I read it anyway.

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SaintRobbie

SaintRobbie

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Posted

Watching the new Pompey owner in his shirt and hat as they lost on Saturday I couldnt help but smile and think... Newcastle Utd.

 

Wonderful. That club is so going down. One decent player left - David James - and he's off to Spuds by the looks of it!

 

Enjoy. At least we can have something to cheer about this season. We'll be playing them again in 2011.

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OldNick

OldNick

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Posted
Watching the new Pompey owner in his shirt and hat as they lost on Saturday I couldnt help but smile and think... Newcastle Utd.

 

Wonderful. That club is so going down. One decent player left - David James - and he's off to Spuds by the looks of it!

 

Enjoy. At least we can have something to cheer about this season. We'll be playing them again in 2011.

you're jumping the gun.There are too many poor sides in that league and the skates are strengthening all the time. I think we need to wait a few games yet before signing theit death knell.If you dont you are open to a lot of egg on your face.

If they stay up then they will be in a much strongerr position and then only need to keep doing that season on season to hit the jackpot again.

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Wes Tender

Wes Tender

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Posted
you're jumping the gun.There are too many poor sides in that league and the skates are strengthening all the time. I think we need to wait a few games yet before signing theit death knell.If you dont you are open to a lot of egg on your face.

If they stay up then they will be in a much strongerr position and then only need to keep doing that season on season to hit the jackpot again.

 

They struggled against relegation last season and Hart just about managed to turn it around with James, Campbell, Distin, Traore, Crouch, Johnson, Davis, Pamarot, Kranjcar etc. If James and Kranjcar leave today as rumoured, there is no way that the series of cheap players, crocked oldies and free transfers will keep them up. Add to that the loss of esprit de corps that will be present now that so many of last seasons team have left and the upheaval that has occurred because of the takeover and they are the least stable of the clubs in the Premiership.

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OldNick

OldNick

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They struggled against relegation last season and Hart just about managed to turn it around with James, Campbell, Distin, Traore, Crouch, Johnson, Davis, Pamarot, Kranjcar etc. If James and Kranjcar leave today as rumoured, there is no way that the series of cheap players, crocked oldies and free transfers will keep them up. Add to that the loss of esprit de corps that will be present now that so many of last seasons team have left and the upheaval that has occurred because of the takeover and they are the least stable of the clubs in the Premiership.
that is true, but they were HR's men and lost their will to win.They are buying scrappers and perhaps get a new will.
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once_bitterne

once_bitterne

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Anyone who would take our position over Pompey's really does need Sectioning.... They are in the Prem, the only division of football in this country that actually means anything and we are languishing on -ve points at the foot of the third tier. Yes, we have a new owner but he is hardly splashing the cash. Thus far we have only paide a transfer fee for one player.

 

There are a load of poor teams in the Prem this season so even before their new owner started bringing in new players (and the likes of Shorey and O'Hara are decent Prem level signings) they had a decent shout of finishing above Burnley, Wolves, Hull and Birmingham.

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greg_hill

greg_hill

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that is true, but they were HR's men and lost their will to win.They are buying scrappers and perhaps get a new will.

 

I think you underestimate the depth of the exodus and the obvious desperation in the choice of replacements. Don't forget even the four new signings were made possible only by the sale of their best defender. If James does go today, that would surely seal their fate.

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lumpofshipperley

lumpofshipperley

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Posted
Anyone who would take our position over Pompey's really does need Sectioning.... They are in the Prem, the only division of football in this country that actually means anything and we are languishing on -ve points at the foot of the third tier. Yes, we have a new owner but he is hardly splashing the cash. Thus far we have only paide a transfer fee for one player.

 

There are a load of poor teams in the Prem this season so even before their new owner started bringing in new players (and the likes of Shorey and O'Hara are decent Prem level signings) they had a decent shout of finishing above Burnley, Wolves, Hull and Birmingham.

 

 

Here here.

We will be lucky to avoid another relegation at this rate.

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Thedelldays

Thedelldays

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Posted
Anyone who would take our position over Pompey's really does need Sectioning.... They are in the Prem, the only division of football in this country that actually means anything and we are languishing on -ve points at the foot of the third tier. Yes, we have a new owner but he is hardly splashing the cash. Thus far we have only paide a transfer fee for one player.

 

There are a load of poor teams in the Prem this season so even before their new owner started bringing in new players (and the likes of Shorey and O'Hara are decent Prem level signings) they had a decent shout of finishing above Burnley, Wolves, Hull and Birmingham.

i think I now agree with this

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Gorgiesaint

Gorgiesaint

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I think you underestimate the depth of the exodus and the obvious desperation in the choice of replacements. Don't forget even the four new signings were made possible only by the sale of their best defender. If James does go today, that would surely seal their fate.

 

Krancjar will be a big loss for them, Nugent less so although I was looking forward to him & the lead boot forming a great partnership up front for them.

 

Yes Distan was also a big loss but £3m for Williamson (if thats right) does seem over the top or have Watford seen them coming!!??

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S-Clarke

S-Clarke

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I see that Nugent has just gone to Burnley although that might be good for them as he is so very sh#t........

 

If he scores for Burnley though, that's directly affecting them in the relegation zone. Weird move, more so that they haven't brought in a replacement.

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dubai_phil

dubai_phil

Posted
Posted

I'm on holiday Hooray!

I got internet in my room boo so I had to check emails and stuff.

 

I've been reading the new Chris Ryan book Who Dares Wins. I know it ain't no literary genius but it wuz good for sitting on the beach..

 

But I sprayed my Mai Tai all over page Two penultimate paragraph where an SAS member serving in Iraq says....

 

"rule of engagement number one: never trust a **********"

 

Just ruined the book as I saw Pompey straight away.

 

(Would love to print it in full but it is non PC and I'm a nice guy, but the asterisks inferred to people from a certain part of the middle of the planet slightly on the eastern side of the UK.)

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rallyboy

rallyboy

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you may not have seen the local stuff Phil but Storrie has admitted that the club nearly went under a couple of times recently, he added that he is very grateful to the creditors for being so understanding.

Without wanting to drag the debate back to our own inglorious and tiresome recent history, can we assume that Storrie's flexibility and attitude toward, and dealings with the banks, was slightly more realistic than that displayed by our own representative at the crucial time?

When you compare the figures, they were very quick to drop us - or is it the fact that if you owe a bank £5M you have a problem, but if you owe them £30M they have a problem?

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benjii

benjii

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you may not have seen the local stuff Phil but Storrie has admitted that the club nearly went under a couple of times recently, he added that he is very grateful to the creditors for being so understanding.

Without wanting to drag the debate back to our own inglorious and tiresome recent history, can we assume that Storrie's flexibility and attitude toward, and dealings with the banks, was slightly more realistic than that displayed by our own representative at the crucial time?

When you compare the figures, they were very quick to drop us - or is it the fact that if you owe a bank £5M you have a problem, but if you owe them £30M they have a problem?

 

TBH we got a lot of mileage out of UK banking institutions for quite a long time whilst being in a precarious situation.

 

Clearly Lowe's relationship with Barclays fell apart as our season unravelled but Aviva always seemed onside.

 

In contrast, Pompey's main liabilities were towards their owner and a foreign bank and the situation only became critical when a large bullet repayment became due. It's not surprising that the debt was eventually restructured... would you fancy picking the bones of the PFC carcass?

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dubai_phil

dubai_phil

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Posted
you may not have seen the local stuff Phil but Storrie has admitted that the club nearly went under a couple of times recently, he added that he is very grateful to the creditors for being so understanding.

Without wanting to drag the debate back to our own inglorious and tiresome recent history, can we assume that Storrie's flexibility and attitude toward, and dealings with the banks, was slightly more realistic than that displayed by our own representative at the crucial time?

When you compare the figures, they were very quick to drop us - or is it the fact that if you owe a bank £5M you have a problem, but if you owe them £30M they have a problem?

 

Thx for that.

 

Just one comment to keep in the back of the mind for a story one day on the bank subject. Storrie obviously kept things running, forgetting the strange move of our manager to BT, there could also have been "dark forces" at work which caused our bank's mind "to be changed"...

 

Sounds from the little I can ctch up with that SBT has done some form of factoring deal on future income, probably with an ME based bank, they probably gave up 10 or more % of the TV income in order to get a lump of cash in.

 

History will show if an emergency rescue will do them more harm than good.. We came out of it very fortunately, but if we'd let ourselves go when we should have done things could have been very different. Anyway should be fun watching them lol

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Tamesaint

Tamesaint

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Posted
you may not have seen the local stuff Phil but Storrie has admitted that the club nearly went under a couple of times recently, he added that he is very grateful to the creditors for being so understanding.

Without wanting to drag the debate back to our own inglorious and tiresome recent history, can we assume that Storrie's flexibility and attitude toward, and dealings with the banks, was slightly more realistic than that displayed by our own representative at the crucial time?

When you compare the figures, they were very quick to drop us - or is it the fact that if you owe a bank £5M you have a problem, but if you owe them £30M they have a problem?

 

Interesting.

 

I agree with the view about our inglorious and tiresome recent history but ....

 

I do think that the the anti Rupert demonstrations played their part in the Barclays decision making. The demonstrations were pooh poohed by the Lowe apologists on here and were ignored by Lowe and co. But a big difference between our position & Pompey's was that a percentage of the Pompey crowd were not demonstrating against the owner.

 

Barclays could see how the fans felt . The writing would be on the wall for any business if a large percentage of a business's "customers" were unhappy with the direction the business was taking. This has not been the case at Pompey.

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Tony Lynam

Tony Lynam

Posted
Posted

Dear All

 

Details of a great Charity Golf day are posted on a different page/thread (Saints V Pompey Charity Golf Day). Having spoken to the co-ordinator of the charity last night, I know he is approx 12 players short of target. If there are any golfers amongst you who would enjoy a bit of friendly banter between saints & pompey over 27 holes, a bit of food, a few drinks etc, then please contact Neil ASAP. Closing date for late entries is mid-day on Monday since everything goes to print on Monday evening in readiness for Wednesday's event. For the golfers amongst you, this really is a good day - the last few years have been crackers. And of course for anyone with any other agenda, you could have a quiet word (within reason!) and ask me and Matt anything that's on your mind........

 

A quick word about the charity itself. In July 2002, a 15 year boy, Richard Bowler, collapsed whilst training with his local football club. He suffered a massive brain haemorrhage, never regained consciousness and died the following day. Rich was a Saints fan, not that that should matter. The emotion which followed Rich's death seen waves on donations made to the Wessex Neuro centre, and after some time, Neil Westbrook (who was Rich's parents friend and next door neighbour of some years), closed his own business down so he could dedicate his life to saving others. The Charity raises money for equipment, projects, research etc and really does improve peoples lives. I can't remember the exact figure, but one of the most recent patients has seen fits/seizures reduce from in excess of 100 a day to just 2. As a parent of a disabled child, I know very well what a difference this must make to these families, and sufferers alike.

 

Right, that's enough of the morbid stuff. This will be a great day, we'd love to see you there so if you can spare the time, fancy a bit of fun, and unwittingly help the charity, please contact Neil

 

All the best, and best of luck with your new signings. I really really hope Saturday marks the start of the season 'proper' with a win.

 

Regards

Tony

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Wes Tender

Wes Tender

Posted
Posted
I'd expect another takeover within the year.

 

As it stands, apparently the FA haven't even ratified this takeover yet, although Fahim is de facto the owner. You could well be right though that Pompey might yet be taken over again within a year, as I do not have much confidence that Fahim is anywhere wealthy enough to keep the show on the road. I suspect that many Pompey fans are wondering how much better this other Arab might have been had Gaydamak not felt inclined to cosy up with Fahim instead of Storrie's choice.

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NickG

NickG

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In an ideal world I agree.

 

But the term Football Manager is a misnoma.

 

The best Football Managers RUN every aspect of the football side of their club.

 

When do you think Alex Ferguson last took a training session with his players? He doesn't really - that's the coaches' job. But he decides who stays, who goes, who coaches, the scouts, the colour of the changing room walls, who is allowed into the changing room, who isn't, the players babies' names, their wives...

 

That's why he fired Beckham and Ronaldo. And yet they will STILL win the league.

 

In football, the manager dictates the on-field strategy, which means dictating the off-field, football-related decisions.

 

He may have to go cap in hand to his Chairman for cash to buy the players, to appoint the right coaches, scouts, etc. But the Manager makes these decisions.

 

Where a Chairman appoints a DoF it nearly always fails. Why? Because this is the Chairman admitting he doesn't know enough about the business he runs to TRUST his manager.

 

Otherwise, why else bring the DoF in??

 

If the DoF is dictating football strategy - HE is de facto the MANAGER.

 

 

 

As it stands, apparently the FA haven't even ratified this takeover yet, although Fahim is de facto the owner. You could well be right though that Pompey might yet be taken over again within a year, as I do not have much confidence that Fahim is anywhere wealthy enough to keep the show on the road. I suspect that many Pompey fans are wondering how much better this other Arab might have been had Gaydamak not felt inclined to cosy up with Fahim instead of Storrie's choice.

 

I hate that phrase - far too david Brent!

 

twice in two days!

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Saint 76er

Saint 76er

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Posted
I'd expect another takeover within the year.

 

In which case it will very likely come following administration IMO.

 

With the current takeover allegedly being leveraged against future income (there goes the Sky money) there is no meat on the bones, only a mountain of debt. In fact it has been said that the takeover and the money they are currently spending requires a repayment of 50 million quid over 10 years.

 

That's quite some debt to lump onto a club already drowning in it and whoever would be stupid enough to get the fake sheik out of trouble by wasting their own money? I would imagine no one would be, at least no one who would be acceptable to the football authorities. Then of course someone has to fund the stadium and training ground at some stage as well.

 

It's hard not to see the whole shabang ending in tears for the blue few (sorry Eyes) with admin the most likely outcome. For the above reasons I don't imagine anyone will now buy it off the current "owner", especially as it will be available debt free for a relative song after admin, which will probably occur once the new bloke has finished spending some hedge fund's heavily leveraged monies.

 

There's little doubt they are buying players for the Championship next year and they may very well find themselves starting life in that league on minus ten points!

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Eyes k8

Eyes k8

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Posted
In which case it will very likely come following administration IMO.

 

With the current takeover allegedly being leveraged against future income (there goes the Sky money) there is no meat on the bones, only a mountain of debt. In fact it has been said that the takeover and the money they are currently spending requires a repayment of 50 million quid over 10 years.

 

That's quite some debt to lump onto a club already drowning in it and whoever would be stupid enough to get the fake sheik out of trouble by wasting their own money? I would imagine no one would be, at least no one who would be acceptable to the football authorities. Then of course someone has to fund the stadium and training ground at some stage as well.

 

It's hard not to see the whole shabang ending in tears for the blue few (sorry Eyes) with admin the most likely outcome. For the above reasons I don't imagine anyone will now buy it off the current "owner", especially as it will be available debt free for a relative song after admin, which will probably occur once the new bloke has finished spending some hedge fund's heavily leveraged monies.

 

There's little doubt they are buying players for the Championship next year and they may very well find themselves starting life in that league on minus ten points!

 

Only 50 million. that's a relief I'm sure i read on here that it was 100m. One thing that has been concerning me is that a mate told me that some people in Southampton that look like Rupert are having plastic surgery. That made me put two things together. Firstly no one looks as much like rupert as rupert, has he had those rosy cheeks seen to. Secondly doesn't it strike you as strange that just when rupert disappears Al Fahim appears. Coincidence I thought. but then Neither of them had any real money themselves, both pompous. Is he Rupert in disguise? I'm looking for some reassurance here.

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