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Vega bid knocked back?

According to 'reports' late on Monday in The Telegraph, and then The Times, an official approach for ownership of Pompey has been made by Ramon Vega, or at least his group, but this offer was rejected by Sacha Gaydamak.

It is said that the offer made was deemed as 'unaccepted' by the current Pompey owner with the Swiss front man of the group told that he has '7 days to come up with a new bid'...

Quite how much Sacha is holding out for is something that only he knows, some 'reports' have said that he wants around £40m-£50m - so basically his money back - whereas other 'reports' have suggested that his desire to hand over the reigns to someone that can take us to the next level would see us sold 'cheaply'. I am not so sure about that, even if he really has 'fallen in love with the club', as is the suggestion or the general belief, he is a businessman at the end of the day and will not take a massive loss will he!

Our debts and the day to day running costs of the club, which eat up so much of the clubs income, are also thought to be proving a stumbling block - again, quite how much these debts are is not known but it is said they are around the £40m mark, so if that were the case this group is looking at something around the £80m-£100m mark before any financial input into the club can be made, and this would be substantial to fund the proposed training ground and stadium - surely both projects that 'must' happen under new ownership? Without these areas happening there is never going to be a return on any investment - the training ground and stadium have become almost 'must haves' or we are highly unlikely to evolve as a club...

It is also said that Vega is refusing to make proof of his apparent finances that he has available actually available to Sacha, which must be something that is needed? With it also the belief that the former Spurs defender feels his group should be able to pay less for the club as they are taking on its debts, either way it is said that he 'remains confident' of gaining control of the club.

So, assuming that an official bid has actually been made for it to have been refused then by the end of this week/early in the next if the '7 days to improve an offer' stance is true, we will know if this deal is a 'deal or no deal' pretty soon!

I feel that the months ahead, not just on the pitch, are critical to Pompey's future. We cannot sell to just anyone, we must get this right and its almost a must that they can fund the training ground and stadium, but 'if' we cannot sell by the time pre-season is back in full swing then it is almost certain, dare I even say inevitable that further departures 'will' happen - even when, not if, we stay up - and I am not trying to be a doom monger or pessimist, just what I think is a realist...

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Writer: pompeyrug

Date:Tuesday February 24 2009

Time: 8:46AM

Your Comments

Rug I think you watch too many early-evening box-based Channel 4 programmes. Seriously though, I just want to stay up, and I'd rather they wait until the summer for all this!!

PFCGino

'early-evening box-based Channel 4 programmes?' i dont get it?

pompeyrug

The way forward is of course crucial but survival in the Premier League is paramount. I agree with Gino that these things are clouding the issue but Sacha needs to sell and I hope he is more worried about the right party rather than the right price.

eastneydave

Rug... This seven days thing seems a bit arse about face to me. It's usually the buyer that dictates on an offer, especially in this present economic climate. I haven't heard of prospective buyers queuing up to buy the club. We as fans have to stand on the sidelines and watch, hope and guess, what hard nosed business men have planned for us. The dream scenario of local boy made good and wanting to take his team to the stars, rarely, if ever happens. We do need someone with vision who wants to come in and push the club forward, as well as cutting a good business deal. If this does come off and Vega pays off the club debts is there going to be any money to be able to do that. Maybe Sasha is unconvinced by that and truly does want what's best for PFC...

cornypomp

Just a little joke about another 'Deal or No Deal' reference!

PFCGino

I guess we just have to sit and wait as always. I am sure there is probably something else happening behind the scenes as well.

sneakay

Surely we have some billionaire genuine Pompey Fan out there somewhere. O.K. sorry is he like Santa Claus and doesn't really exist. Terry Vegetables bought the club for a pound, how inflation grips us all. How bloody lucky can Sasha be - he buys the club and wins the FA Cup straight away. What would Manadaric have given for that. The Russian oil barons are losing money hand over fist, this could possibly be a reason for Sasha to want to get some more pocket money again !!

pompeygray

that 'deal or no deal' reference - its become a new phrase of mine, and ties in with my deal or no deal series i guess... i honestly do not watch the bearded ones tv show tho.

pompeyrug

sacha has been good for pompey, and of course pompey good for sacha, but if he does not move on then we will only go backwards - more players will be sold and 'when' we survive this season we will struggle again in the next...
we need someone to come in and be able to offer us the stadium and training ground and the like that we need to move on, if vega is the man to do this so be it. his history with football makes him a good candidate, but can he back up his proposal?

pompeyrug

I'm not sure of the best way to take the club forward but I can't see anyone coming in and wanting to throw money at the club in the current financial climate. Sacha will do well to get his money back and success for us would be to stay in the Premier(ship?) with a better bank balance

Pompeyscum

Agree with last comment. The reality is we are sitting ducks if we don't have a new buyer soon. Sasha won't invest & will sell in the summer. Players are out of contracts & little seems to be done to keepsome of them.

storagematt

That's the....I don't know how many million question. The bottom line is, we need someone to come in and invest. Status Quo would be a non starter.

cornypomp

Cant help feeling negative abouthte whole situation. We need a big investment to compete

plymouth graham

sasha has said he wants to do what is best for the club, (and will, presumably, want to do what is best for him too...) - if they havn't given him the assurances he said he wanted (finances and stadium), he (probably) won't sell. However - I doubt there is any real truth in the 7 day thing v- so i fear it could drag out much longer than that.

pompeycarpet

This bid was pretty much rejected before it was ever received, it seems to me. When you deal with contracts and businessmen all day long, you come to spot those who with pie-in-the-sky promises and those who are just testing the water to see if they can get something for next-to-nothing pretty easily. My feeling is that this is what has happened here. Now the onus is on Vega to either put up or shut up.

PhilTaglia

Just a bit of context fellas on the seven days thing. A company I worked for recently turned down an offer to purchase and gave the prospect buyer seven days to come up with a new bid.. which they did.. that was also refused and they were then given a further 90 days to make a final bid after which time - If that was refused (which it was) they were inhibited (by trading laws) of making another approach within six months - Now.. that was a hostile bid on a FTSE 100 company so is somewhat different but the point is that the 'seller' can dictate the timescales in order to limit the 'disruption' on their business.

As for what Sacha plans are I've not idea .. But the Club statement earlier in the year said the Pompey were now in a position to stay afloat, basically this means that although we will carry the debt it won't get bigger.. So even if nothing happens with this deal we will retain the status quo and although that might not take us forward or build the new training ground it does ensure our 'financial' position.. So what if we lose a few players along the way, so what if we don't start the new stadium or training ground for another year .. The most important thing is the finacial stability of PFC and despite what the papers say we have been told by the club that we have this .. Sure investment will be great (and we should actively seek it) but it is not the be all and end all

Chix

Thats great Chix; but it all depends on who the players are that we lose along the way! Lets be honest, if we don't show some commitment I can see a lot of the big boy's upping sticks. You and a lot might say well so what, let em go. But; we're struggling with the squad we have. Can it take more of our better players leaving and replacing them with inferior as has been the case?

pentonpompey

Got to haggle "14 sheckles for that, you must be mad"

paultsmouth

It is haggling, I'm sure it is. Whether its a good deal for the club or just for Sacha, none of us know, we can just hope for the best. We really need new owners who can take the club forward sooner rather than later. Have to admit to some confusion, the recent statement from the club/Sacha I understood to say that following the sale of Muntari/Defoe/Diarra the club was no longer in debt? Now we are still 40 million in debt? And Pompeygray, what do you mean Santa Claus doesn't exist!!!!!!!

tracyc

He doesn't??? My Mums' a Liar!!!!!!!!!!

pentonpompey

Apparently Sasha has been quoted as saying..Owner Alexandre Gaydamak said he wouldn't sell the club unless he is certain about Vega's financial strength. Source: euFootball.BIZ If true, that sounds to me that he's not going to sell to anybody who hasn't got the cash for taking the club foward to the next level...

cornypomp

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