TrueBlueArmy Forums

As a long time Pompey fan I've always taken interest in the club's finances as a way of measuring if they are going in the right direction. I am not an accountant, but I've read the latest accounts up to 2020 which are available online for any  Pompey fan to read.

I would comment that there is some interesting information in the accounts. Pompey have 6 directors, four members of the Eisner family, plus somebody called A. Redman, . Page 23 of the accounts states that each of the directors was paid £171k for the year, plus a contribution to a pension fund. This payment is an increase of £3k on the previous  year, and if I am correct it means that over £1,000,000 is being paid to the directors of the club, most of which is going to the Eisner family. 

Page 26 has an interesting clause, in that it states that £4,000,000 must be paid to an unnamed group (almost certainly the Eisner's) should Pompey reach the Premier League on or before June 2022 (very unlikely). But £3,000,000 must be paid to the same group if Pompey make it by 2023. Can't understand why the owners want paying for success when they have a long-term commitment to the club. A loss of 3 or 4 million would be critical if they wanted to stay in the Premier League. 

My general view of the accounts is that Pompey is really still a selling club and I'm not convinced there is commitment to funding a high-quality squad which will win us League 1 and see us holding on in the Championship. 

This Summer will decide because the current squad is desperately short of quality players and only an import of several million will give the Cowleys a fighting chance in 2022. 

As I stated earlier the accounts are freely available on the Internet and fans can make their own judgment. I am no financial expert but I've supported Pompey long enough to know that finance is the key to success in the football league.

Andy Redman is President of Tornante.

(17-05-2021, 03:18 PM)BlueMonday Wrote: [ -> ]Page 26 has an interesting clause, in that it states that £4,000,000 must be paid to an unnamed group (almost certainly the Eisner's) should Pompey reach the Premier League on or before June 2022 (very unlikely). But £3,000,000 must be paid to the same group if Pompey make it by 2023. Can't understand why the owners want paying for success when they have a long-term commitment to the club. A loss of 3 or 4 million would be critical if they wanted to stay in the Premier League. 

There's something written down that Chanrai gets a payment if Pompey reach the PL by a certain date.  From memory, I think this was from when the Trust took the club over but was transferable.

But you're right, you're no accountant 

If Pompey reach the Premier League on or before June 2022 it will rank as the greatest achievement ever by any club.

(17-05-2021, 03:18 PM)BlueMonday Wrote: [ -> ]As a long time Pompey fan I've always taken interest in the club's finances as a way of measuring if they are going in the right direction. I am not an accountant, but I've read the latest accounts up to 2020 which are available online for any  Pompey fan to read.

I would comment that there is some interesting information in the accounts. Pompey have 6 directors, four members of the Eisner family, plus somebody called A. Redman, . Page 23 of the accounts states that each of the directors was paid £171k for the year, plus a contribution to a pension fund. This payment is an increase of £3k on the previous  year, and if I am correct it means that over £1,000,000 is being paid to the directors of the club, most of which is going to the Eisner family. 

Page 26 has an interesting clause, in that it states that £4,000,000 must be paid to an unnamed group (almost certainly the Eisner's) should Pompey reach the Premier League on or before June 2022 (very unlikely). But £3,000,000 must be paid to the same group if Pompey make it by 2023. Can't understand why the owners want paying for success when they have a long-term commitment to the club. A loss of 3 or 4 million would be critical if they wanted to stay in the Premier League. 

My general view of the accounts is that Pompey is really still a selling club and I'm not convinced there is commitment to funding a high-quality squad which will win us League 1 and see us holding on in the Championship. 

This Summer will decide because the current squad is desperately short of quality players and only an import of several million will give the Cowleys a fighting chance in 2022. 

As I stated earlier the accounts are freely available on the Internet and fans can make their own judgment. I am no financial expert but I've supported Pompey long enough to know that finance is the key to success in the football league.

There is a smell of the Glazers in that analysis and it stinks to high heaven.

In most instances in the analysis of financial accounts it requires the investigator  to  follow the money in order to see what is actually happening behind the scenes in the club
Look at a few facts going forward a) appoint greenhorn management team,B)let player contracts run down,c)make no offers to the said players to retain their services(their agents will already be on the case....offfski)......all options show how to run the asset down..........it`been done(the reverse of a b and c would have required  investment)

It doesn`t look good going forward ........been in league 1 too long.

The driving force to push a club forward to a promotion spot is the owner(organ grinder) but most fans focus on the manager(monkey) but success on the pitch requires solid financial investment and no matter how good the "monkey" is without investment then he is generally pissing in the wind.
let`s hope your analysis is accurate otherwise it`s only all allegedly so.

Hadn't the Chanarai clause expired long ago?

Maybe its the Ryman premier league? They're well on course to reaching that 

I certainly do not read page 23 as you do. I read it as a single total of 171k plus pension. I assume that is Mark Catlins salary and that non of the Eisners or Redman are paid via the Pompey account. I may be wrong but that would be my take on it.

Hmm it would be a bit of a joke to pay each director 170k a year, especially given how little most of them bring to the table...

Remind me not to engage you to do my accounts ffs.

(17-05-2021, 04:09 PM)Cressers Wrote: [ -> ]Hadn't the Chanarai clause expired long ago?

I couldn't remember whether there was an expiry date on that clause. You'd hope there was.

(17-05-2021, 05:24 PM)JIMBON Wrote: [ -> ]I certainly do not read page 23 as you do. I read it as a single total of 171k plus pension. I assume that is Mark Catlins salary and that non of the Eisners or Redman are paid via the Pompey account. I may be wrong but that would be my take on it.

You could well be right. The accounts use the term directors indicating a plural ,but if it is just one payment to Catlin it would  seem more plausible. Thanks for pointing it out.

£170k grossed up is about right for an exec at League 1