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Fan ownership?

It is something that has reared its head a few times but the 'potential' of Portsmouth football club becoming 'fan owned' has taken its first steps to realisation with a pledge scheme announced from The Pompey Supporters Trust being launched.

Could it realistically happen?

Well, only time would tell but do we really have any other options?

Personally I am as unconvinced now, as I have been for most of the past recent months, that any 'serious' bidder is out there, so there probably is not any other option...

This scheme is based on a pledge of £1000 needed, £100 of which is down-payable - with this secured, minus a 2.5% administration fee.

Can enough pledges be given for enough money to be raised though?

Again I do not know but without anything available, again I say do we have another option?

Next season will be a struggle, financially and potentially football wise, but with more of the 'big earners' out of contract at the end of the 2012/13 season then there is a 'decent' chance that PFC can be put onto a decent footing in the years after that with us run in a sustainable manor...

'If' serious monies can be raised and 'if' this can come off then the next questions are who actually looks to form a board and how will they run the club?

Some have had visions of someone(s) from The Trust board acting as 'owner' or 'chairman' making decisions, but realistically this is not going to happen is it, people qualified to do such things will be put in place but decisions to safeguard our future will be made.

How are the day-to-day running costs of PFC meet? Again this is a question that needs answering, but must have been seriously looked at.

Going back to 'getting enough pledges' for starters.

In this day and age £1000 is a lot of money, even if only £100 is down-payable now so it is a concern that getting enough will be tough?

As I understand, there is nothing to stop people 'clubbing together' to form a kind of 'mini consortium' of a pledge, so x-amount of people could make up this share pledge, right?

If 10 came in as one pledge then that is 'as little' as £100 each, just £10 up front and even though, for many, £10, let alone £100, is not to be scoffed at these days, I suspected many of us could still easily blow this - £10 for sure, maybe even £100 - fairly easily!

The floor with this theory of plan is that to reach 5000 pledges, alone, then these mini consortiums would consist of potentially 50,000 fans in total alone just to raise £5m, and that will not do much would it...

I suspect some people can afford more than £1000, so can they pledge more?

Everything else aside my major concerns are, well remain, all the while the likes of Balram Chainrai and Sacha Gaydamak lurk in the background we never know what 'hidden surprises' they have for us - so they need to be paid off to leave...

Until they go, and everything belongs to PFC again can we ever prosper?

I am still unsure as to what the score is with them to be honest.

I was under the impression that the remaining parachute payment money was earmarked to pay them off - does the next chunk that comes out fully pay off Gaydamak? And how much of what is left next season - is next season the last, or do we have more the year after? - pays-off Chainrai?

Then of course we have the issue of the land that Gaydamak owns.

Like I say until this, and everything else that should be owned by PFC again, is owned by the club then moves to make the club extra revenue, development of Fratton Park etc. incorporating areas to generate extra funds, cannot happen.

Clearly this is a complex situation, it is a difficult thing to look to achieve but is not impossible.

This has been, and will continue to be, seriously looked into with careful consideration having been given - it clearly is not as easy as 'lets buy the club' by any means!

In all honesty I could not pledge £1000, I cannot lie - I do not have this to spare...

Although I would certainly form a mini consortium with others though for us to group our funds together to make that £1000 pledge.

As much as The Trust can be knocked at times, I have in the past I cannot lie with some things, but can anyone knock the time, effort, commitment and dedication being put in to try and do something to safeguard our future - at least proactive steps are being taken to try and secure this!

Plenty of answers need to be answered, and I am sure that they will...

In the meantime more on The PST 'pre-share scheme' can be found - here.

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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Friday March 30 2012

Time: 9:23AM

Your Comments

It is true that you cannot knock the amount of effort that these guys are putting in, but do they seriously think they will pull this off? Seeing that Portsmouth is pretty much a working class city, I can't imagine 100 fans having £1000 to give the club.

Based on the average 14,000 attendance and everyone having an average of £100 to put in. That is less than £1.5mil which won't even pay the wages. How do they expect to run the club?

I seriously think that if the Trust get there hands on the club that it will fold within months, perhaps weeks.

sneakay
Hats off to the PST, but I 4-1 am not convinced they can achieve their aim, mainly because of the people in Pompey city not having that sort of money and that includes myself. If there was one person and Pompey fan who could put up a large amount of cash to bak the effort then maybe the PST could work otherwise I doubt it very much, I truly hope it does ome off however and maybe sometime in the future I could put some money in myself.
khodgkins
The deal is £100 down and then the remainder can be paid off over a period - I believe credit facilities are in place. The possible option is that 'shareholders' will get big discounts on seson tickets for the next two season with the possibility that 2014/15 would be free. Of course that would all depend on what deal is done and and if another party is involved. When I find out more I will keep you all fully updated but I gather initial interest is significant.
eastneydave
While it is true to say that £1000 is a lot of money, there are a lot of people in this city who have that kind of cash to invest. I will be putting my money in and I know a fair few others who will do the same. It all boils down to whether you want a football club or not doesn't it? I see loads of people who supposedly have no money wandering around smoking, drinking, driving to the corner shop etc. The average smoker spends well over that figure just killing themselves every year, so it's a matter of priorities.
Exgaffer
One line in their statement I don't like. "it could be OUR club or no club". That's a bit harsh to put that as it is a form of bullying people into something, as they don't know that to be true? Birch says 2-3 interested Parties. That comment implies he's wrong!
Midge
Hats offs and a round of applause from me.
FACup Triumph
Rug Could it realistically happen? yes Well, do we really have any other options? probably not Can enough pledges be given for enough money to be raised though? months of research suggest that enough could be raised to set the ball rolling. who actually looks to form a board and how will they run the club? PST Board would be responsible for appointing an Executive Board of selected individuals who bring experience and a specific skill to the table, alongside a passion for Pompey. It might not include any PST BMs. The day to day running of the club will be by professional staff. How are the day-to-day running costs of PFC meet? We’ve had more than two years to gather expert advice on all possible costings of all possible scenarios from staff down to the price of paint for the white lines 'clubbing together' Nothing to stop this but remember the share would be in one name only (could be an individual or a group) Until they go, and everything belongs to PFC again can we ever prosper? ALL previous debts are the worry of the administrator (or if it came to it, the liquidator) not the purchaser. the price would reflect any agreed reimbursement to creditors. That said PST and their lawyers are carrying out due diligence. Four things to remember – your money can be withdrawn at any time – as Dave says, credit facilities are available – a deal will only be done if it is financially viable – its Our Club or No Club!
devonpup
tbh sneaks i think that the club folding is very, very likely - this proposal, for me, is the only one that we have?
is it a realistically sustainable option - like i say i do not know but do we have another?
LOTS of questions need answering and i am sure that they will...
pompeyrug
Sorry Midge, I've just used the same phrase - its Our Club or No Club. There does not seem to be any other serious bidder on the horizon. If anyone appears who is credible then PST would obviously consider all options.
devonpup
Where does the money come from once this money is spent? its alright offering big season ticket discounts but this is reducing an income stream. They sight Wrexham, well they are in the conference, only happened 6 months ago, bet they haven't a player on £36k a week. Hopefully Birch using it to smoke out a better offer.
Jimsmithswig
do not like the idea of 'discounted season tickets' for people that pledge - in many ways does that not defeat the object?
so much of our future needs to be based on ticket sales, if more and more are going to be less and less each year then the income for future years, on season ticket sales alone, will be seriously dwindled.
pompeyrug
Jimsmithswig/Rug Ongoing income will be the same as any club, gate money, merchandise etc. Discounts on season tickets will be offered as reward for those prepared to commit their hard-earned money to PFC. All of these figures have been given careful consideration in the business plan.
devonpup
The concept sounds feasible but the delivery even more difficult. Lots of questions would need answering before people commit that level of funding. If we are saying the trust could raise £5M and buy the club then I feel sure that there must be someone out there with that money who could buy (Howe etc). There must be lots of business around FP that make some great money from Pompey so I would hope that they see the long term view of no pompey and therefore a decrease in business income. Anyone know what the agreement with Jobsite is and how long left they have on their Sponsorship agreement?
bluedr
bluedr Jobsite agreement runs out at the end of the season.
eastneydave
Cheers Eastney, something else for a new owner to try and sort out then! A whole load of smoke and mirrors going on here, the trust saying that they are the only ones doing due diligence, PS saying he is advising a consortium and Birch saying he has been speaking with 2 or 3 interested parties.
bluedr
i really do want to believe in this and embrace this, and maybe I will but I'm not really sure either way at the moment. its a great idea. I feel I need more facts and figures, even if i don't know which facts and figures. One figure that worries me if that TB is quoting a total debt figure of £50milion - and thats before any running costs are met or Tal Ben Haim is paid. The ST are saying they expect a loss next season, but how big a loss? And by how much and how quickly and how will this then be made up? Lovely idea . . . but . . .
tracyc
i really do want to believe in this and embrace this, and maybe I will but I'm not really sure either way at the moment. its a great idea. I feel I need more facts and figures, even if i don't know which facts and figures. One figure that worries me if that TB is quoting a total debt figure of £50milion - and thats before any running costs are met or Tal Ben Haim is paid. The ST are saying they expect a loss next season, but how big a loss? And by how much and how quickly and how will this then be made up? Lovely idea . . . but . . .
tracyc
Tracy, the Trust will be holding public meetings to attempt to answer peoples' questions or you will find Board members at the Trust bus behind the Fratton End before every Saturday game. Bluedr, I believe Dave is right and Jobsite is a yearly deal but rest assured the Trust are speaking to them.
devonpup
Who knows if it will happen, sounds a bit of a pipe dream. I can forsee one major problem though; if the "fans" own the club who will they blame for not buying players, building a new ground and importantly for stealing all the money raised from transfers?
thepompeypaul
 

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