Portsmouth Trust taking over the club (1 Viewer)
- Thread starter Steve.B50
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skyblueman
New Member
Well after what the fans have been through I wish them all the very best of luck
ashbyjan
Well-Known Member
Sky Sports are reporting that administrator has reached provisional agreement for Pompey Trust to purchase club. There is no sum that they are buying club for but its more of a question of taking on the debts and paying creditors a small percentage of what they are owed - Trust has offered 2p in £ I think. The Pompey Trust have raised around £2m from fans and are partnering with a property development company to develop ground and retail/housing opportunity around their ground.
Anyone who wants to learn more please come along to Sky Blue Trust open meeting at G Casino on 24th November at 1pm prior to Pompey match where we will have guest speakers from Pompey Trust and Supporters Direct - all welcome.
Anyone who wants to learn more please come along to Sky Blue Trust open meeting at G Casino on 24th November at 1pm prior to Pompey match where we will have guest speakers from Pompey Trust and Supporters Direct - all welcome.
MichaelCCFC
New Member
jsbcov - good question to ask pompey at the Sky Blue Trust open meeting (G Casino 24 Nov 1pm)
Covstu
Well-Known Member
Do the sky blues trust have a meeting? If so, when and where?
I am not sure, i did hear that there was a meet but nothing concrete yet...:claping hands:
chiefdave
Well-Known Member
They probably won't tell you. From what is being reported unless you make your pledge you don't even get to see the prospectus with all the details in!
There is a little detail in the local rag down here today. Couple of things that caught my eye. They are now once again referring to people buying a share in the club. Not sure that is actually correct as you seem to be buying a share in the trust who will own a share, most likley a minority share, in the football club.
The other thing is the projected finance. This season shows £2.5m income and £5m expenditure. Somehow next year the income jumps to £5.25m with expenditure of £7.5m.
2 things there. First they're still spending more than they have coming in and secondly how the hell are they going to double their income?
chiefdave
Well-Known Member
Wouldn't have thought so. Think they have £8m due which is being held back by the league to make the payouts agreed to the players who left at the end of last season. They're also using that money (so they're already counting it twice!) to pay the administrators costs of around £2.5m
JSB the SBT haven't even considered this! All they say is that they want funds available if it all goes south. There;s NO plan, no funds (site reports a fighting fund of just over £1.2k). Considering they claim 700 members that means they have raised a staggering £1.50ish per member!
There entire plan relies on being able to find a rich investor - which sort of contradicts their statement that it is a last ditched plan, as last ditch kind of implies there are no rich investors interested!
No plan for playing wages, or buying players, or anything about the ricoh.
Basically its a vehicle for that guy Jan to claim he is the voice of the fans. This itself is ridiculous as he couldn't arrange a successful boycott when SiSU were tearing up banners!
Its galling that this guy has become the go-to guy for CWR and Telegraph for a "fans" comment.
I don't think the members who have joined realise how much this group are expecting them to commit to financially - I suspect THey just join as a fan club.
To put it in context - just to pay 10% of the debt (ignoring all other costs), they are going to have to get just under 10k per member!
Even at 2.5 million (which is the cost of the ground) that is 3.5k per member.
It is absolutely a non starter.
But not only this JSB, but if you dare to highlight the flaws in the plan (and these are just for starters!), some even threaten physical violence!
They are totally deluded. Pompey's situation when you look at it is completely different.
Pompey own the stadium - pompey's plan relies 100% on selling the ground (the funds "raised" are from developers who will knock down the ground - which is illegal as it is a listed building!)
The fans themselves have raised virtually NOTHING!
The SBT is a total waste of time money and resources - its basically a giant ego boost for this Jan guy.
Indeed they are so well organised that even though they have been operating for what 6 months and they have trouble deciding what to put on the website!
there plan relies on things that just will not happen. As Alan Partridge would say they are moribund.!
A bunch of self elected fame seekers. Sounds good on paper, but utterly futile
Houchens Head
Fairly well known member from Malvern
Not ANOTHER bleedin' Portsmouth thread? :facepalm:
Can't they be merged?
Can't they be merged?
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