Losses (1 Viewer)

kduffy said:

So a man who has no managerial qualifications, never managed a team 10 years after retirement can succeed better than one of the most experienced and respected managers in the game. Right.

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Its about style of football. I think when you have a squad of players clearly better than any other team in the division if you get them passing the ball around then other teams will not be able to cope with them. Instead they huffing the ball and battering teams. Dont get me wrong I am a massive fan of big sam. He will get them up and probably keep them up when he can make more signings next season. However I think if they were playing passing football now they are that much better than everyone else John Carew and Carlton Cole receiving loads of croses they would destroy team and would be promoted a bit quicker

canleykid said:

He said sisu had spent 30 million over the last four years so the average was 7.5 million over four years it shud be less now the thing is we will never no the truth only wat they say

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A lot was spent in the first year to pay some big bills inhierited from the previous owners, including £4M tax owed, something like £15M in all.

Then around £5M was lost each year running the club while Ranson was in charge.

Then SISU kicked him out, started to cut costs radically and cover any shortfall between costs and turnover by selling assets.

In total SISU are owed something north of £30M by the CCFC group.

We won't know the losses sustained this year till the accounts for the year are published, as the company year for SKY BLUE SPORTS & LEISURE LIMITED ends next week that should be within 9 months.

dongonzalos said:

So we have halved the budget we are paying for players wages from what we were paying when we were finishing 18th 19th and worse. yet people still think we have the worse manager in history because we are in the relegation zone. Amusing.

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Unreasonable isn't it!

It's not cool to want SISU out. Even Jan is defending them - Mr SOC himself.

@richh87 said:

Unreasonable isn't it!

It's not cool to want SISU out. Even Jan is defending them - Mr SOC himself.

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Not a case of wanting them in or out. As they are the only game in town what choice do we have?

kduffy said:

Not a case of wanting them in or out. As they are the only game in town what choice do we have?

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Why are people In denial over the Hoffman talks?

Other clubs' fans wouldn't behave like this - they'd fight to get them out.

Seems clear to me that SISU have not only censored fans on match days - but also had strong words with certain protesters. Brinner in particular has disappeared after always being very vocal and bringing his banners to home games.

Nobody wants to get sued do they!

@richh87 said:

Why are people In denial over the Hoffman talks?

Other clubs' fans wouldn't behave like this - they'd fight to get them out.

Seems clear to me that SISU have not only censored fans on match days - but also had strong words with certain protesters. Brinner in particular has disappeared after always being very vocal and bringing his banners to home games.

Nobody wants to get sued do they!

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Nobody's in any denial, no-one knows anything is more the problem. What is Elliot doing in your picture with those binoculars? Trying to find some potential people to get into bed with Hoffman and himself? He should buy a telescope and go and look on Mars.

Hoffman is buying nothing. He will have to persuade investors to join the club.

What has happened is nothing to do with being sued. Anyone is allowed opinions on anything. Truth is Portsmouth has proved a reality check for many people. SISU are not suited at all to the football world and we should never have forced our small shareholders out - that changed the landscape for our club for ever (and we all know the man with the glasses is as much to blame for that as anyone). However 2 things are recognised;

- The club is still being propped up. So the investment is still happening.
- As an investment opportunity we stink. We are losing money still. That being the case as an investment opportunity we are still not fit for purpose.

Additionally people are aware of the need for survival and that can only be achieved by management change (though it's too late now anyway).

Other clubs would force them out - provide evidence and examples please (and I'd avoid Blackburn if I were you).

@richh87 said:

Unreasonable isn't it!

It's not cool to want SISU out. Even Jan is defending them - Mr SOC himself.

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I thought you were a supporter of SISU?! You certainly seem to blindly back their choice of appointing a novice manager?

ccfcno9 said:

OSB I regulary read your posts with great respect you obviously do your home work and have considerable financial knowledge. I therefore ask your opinion if some (maybe a sizeable chunk) of our day to day running costs could be interest paid to SISU dressed up as management charges.Tim Fisher was certainly very vague in stating what our current monthly shortfall is. I ask this as I once looked at purchasing a franchise which seemed so cheap but the management charge was extortionate to cover all manor of items.

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cheers ccfcno9

Anything is possible but we have been told that SISU do not charge interest on the loan. Yes there could be management charges but they would have to be disclosed as a related party transaction in any accounts. Previous accounts have not disclosed anything. In theory though, SISU do not manage the club TF does with the other directors (their pay has to be disclosed also) so the actual basis for management charges is not very big. In addition the club do not have the cash to pay out the management charges so if they are charged then it just increases the loss and the debt which would weaken what SISU are trying to achieve - breakeven and a more saleable club. SISU would end up paying tax on income they may never get - so why would they do it ?

apparently West Ham despite being successful in this league are running at a loss of 17m this year and have debts £100m.... gambled everything on promotion. quote "most insolvent club in the country"

Don't even think that covers the loan they've taken against their entire parachute payments either.

@richh87 said:

Other clubs' fans wouldn't behave like this - they'd fight to get them out.

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I ask again what evidence is there? Only Blackburn and you wouldn't want to go there would you - they see the owners and their manager as the problem in equal measure.

kduffy said:

I ask again what evidence is there? Only Blackburn and you wouldn't want to go there would you - they see the owners and their manager as the problem in equal measure.

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Other club's fans wouldn't let them get away with keeping the manager in charge.

oldskyblue58 said:

apparently West Ham despite being successful in this league are running at a loss of 17m this year and have debts £100m.... gambled everything on promotion. quote "most insolvent club in the country"

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When Gold and Sullivan took over, they said West Ham had debts just over £100 million. Working with a West Ham fan he seems to think that that debt figure hasn't changed too much since the takeover, but relegation wage cuts have allowed them to retain essentially all of last season's squad (-Ba). More to the point, they have put all of this against their entire allotment of parachute payments from the PL to maintain the squad-in the unlikely case they're not promoted, the shit could well hit the fan.

http://www.westhamtillidie.com/2012/02/20/in-conversation-with-david-sullivan-part-6/ this makes interesting reading BSB

Reckon they could be deep in the mire if they do not get promoted

oldskyblue58 said:

http://www.westhamtillidie.com/2012/02/20/in-conversation-with-david-sullivan-part-6/ this makes interesting reading BSB

Reckon they could be deep in the mire if they do not get promoted

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It's a huge if though-with their squad they should be destroying this division-Sam should be sacked if he can't lead them to the title. Look at their team on paper, look at ours; it's the best example of why we need FFP as soon as possible-to affect everybody, not just CCFC and Pompey.

oldskyblue58 said:

apparently West Ham despite being successful in this league are running at a loss of 17m this year and have debts £100m.... gambled everything on promotion. quote "most insolvent club in the country"

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We a were on that knife edge decision when we had Westwood, Dann, Fox, and an option to buy Henderson and Carroll for 2 million. We had a decision to make go for broke or sell all our players. We made one decision it seems they are trying the othere route. If when promoted they clear their debts they will have made the right call.

if they get promoted they will have pushed the problem off for a year or two. That is not the right call. If they get promoted their wage bill will increase - yes income will but to breakeven now income has to increase by 17m and they are already a well supported team. That wont get rid of £100m borrowings. Its madness really.

Brinner has had to lay low for a bit like a few of us re sisu but were going back to sisu offices 9th march to protest again that were not happy,we set up the back the boys days but reading scuppered that I organised the balloons that day a thousand of them but most were taken off fans during searches.

oldskyblue58 said:

if they get promoted they will have pushed the problem off for a year or two. That is not the right call. If they get promoted their wage bill will increase - yes income will but to breakeven now income has to increase by 17m and they are already a well supported team. That wont get rid of £100m borrowings. Its madness really.

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Which is why I said IF they clear their debts through promotion they will have made the right decision. My view is do it the West Brom way promotion - relegation for a couple of season dont spend big.
We however still have our debts and are facing relegation for some reason call me a cycnic but I cant see relegation sorting out our debts.

I would have throught Pompey would be losing more than that tbh, they attract slightly better attendances than us and there wage bill is probably 6 x bigger than ours.

Guess their parachute payments offset the degree of loss,Butif i'm correct ,what happens to a company that does not complete the servicing of a CVA