Hvis alt skal gå efter bogen så lad os da få en gennemgribende undersøgelse af al Portpins laden og gøren i klubben gennem de sidste 4 år (de var jo åbenbart også til stede før de officielt overtog klubben for første gang i 2010).Micah Hall har jo forsøgt at optegne det forløb, og jeg tror han har fat i en masse rigtigt. Jeg ville dog ønske, at Hall ville være lige så grundig i forhold til PST, hvor han er hurtig til at affeje kritikken*...
Jeg er meget i tvivl om Chinny har ret i sin kritik af FL. Det er en lukket klub, hvor de selv kan bestemme, hvem de inviterer indenfor. FL har heller ikke sagt, at Harris ikke kan købe klubben - de har sagt, at klubben ikke får lov at spille i FL, hvis det sker. De bliver bare ved med at spille bolden tilbage til PKF ved at fastslå, at de kun vil give golden share til preferred bidder. Så PKF sidder med aben lige nu...
Farmery (hvis automatsvar er: "I´m not aware of the details of X, that´s a question for the other trust people") peger hurtigt på, at PST vil give de bedste vilkår for fodboldklubben. Et eller andet sted ville det da også være hæderligt at anerkende, at det andet bud (på overfladen) giver langt bedre vilkår til de kreditorer, der er blevet snydt af klubben. Det er naturligvis ikke det, PST tænker mest på, men det ville være klædeligt om de fremhævede andre argumenter til at kritisere Harris´ bud. Der er garanteret masser at vælge imellem, hvis han reelt er knyttet til Portpin (hvilket jeg tror, han er)...
*Se fx denne, sakset fra Portsmouth News - det er ikke sikkert, at han har ret, men det er tankevækkende at PST fortsat ikke ønsker at publicere et budget, men bare siger, at de næsten er køreklar (hvilket de næsten har været i ½ år). Hvem vil hælde £1000 i et projekt, hvor man ikke kan få lov til at se detaljerne?
walksa
10:52 AM on 22/02/2013is the trust bid really ready to go?
The longer and longer this has been drawn out the more money the trust was expecting to ´inherit´ is being used up. Latest update from PFK is on their website;
http://goo.gl/0HySL
Potentially noteworthy points :
- trading loss for the period Aug to Jan was £184k, before everyone jumps up and down about PFK this does not include the administrators fees
- the loss was despite the HNW´s putting in £244k as ´contributions to ongoing trading´, making the real trading loss £428k
- £985,196 of parachute payment was received and used during th period Aug to Jan. The first progress report indicated that c.£8m payments were due to the club, effectively the total now due is closer to £7m.
- The business plan in the prospectus assumed 7 months trading in year one, this will now effectively be reduced to nothing as the takeover will likely only occur just before the start of the season.
- The business plan in the prospectus needs the PST to get the clubs annual expenditure down to £5.3m p/a, despite all the administrators cutting the overheads for 4 and half months were £3.2m - giving an annual expenditure of over £8m.
- There is currently no rent/loan repayment commitments for Fratton Park - it is fair to assume on this basis that overheads will increase rather than go down under the Trust.
- The propectus suggests that the ´total´ investment under the 5 year buisness plan is £5.895M. If the courts agree to the sale to BC at the proposed $3m figure, and with HNW´s already releasing £244k the amount of working capital will be £2.6M or less, much less again once the CVA is taken into account.
So is the bid really fully funded or is there effectively enough money to conclude the deal, but the 5 year business plan goes out of the window. The contractual payments to the former players alone seems to exceed future parachute monies if the reported figures are correct. Liabilities will increase (loan repayments) and some £3m of additional savings need to be found. The business plan also assumes that income will grow!! 11 months from Feb 2012 to Jan 2013 showed total income of £5.3m (based on Championship/L1 revenues). The ongoing trust plan is based on annual revenues of £6.2m. It smacks of finger in the air guestimation, as revenues will surely drop further in L2 next year.Hvis tallene er korrekte, har klubben haft et underskud på £985.196+£428.000 = £1,413,196 på 6 måneder. Det er £2,826,391 om året! Jeg kan slet ikke overskue, hvordan administratoren har kunnet retfærdiggøre over for kreditorerne, at holde det hele kørende med underskud...