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When the trust sold Pompey. - HreidarssonHeaders - 01-04-2022
I have heard many times that when we were sold the price we were sold for was legally the most it could be and also the shareholders only got back what they paid. I've also heard that the high net worths got a bigger return than they put in.
Can someone explain why this was please?
Not a moan just interested.
RE: When the trust sold Pompey. - DeepBlue - 01-04-2022
(01-04-2022, 06:49 AM)HreidarssonHeaders Wrote: I have heard many times that when we were sold the price we were sold for was legally the most it could be and also the shareholders only got back what they paid. I've also heard that the high net worths got a bigger return than they put in.
Can someone explain why this was please?
Not a moan just interested.
The terms of the PST buyout were that no profit could be made if the club was sold on, which is why the Eisners got it so cheap (£3.6m ISTR). I've never heard that the HNW's got any more, but I hope they did find a legal loophole to make that possible.
RE: When the trust sold Pompey. - HreidarssonHeaders - 01-04-2022
(01-04-2022, 11:07 AM)DeepBlue Wrote:(01-04-2022, 06:49 AM)HreidarssonHeaders Wrote: I have heard many times that when we were sold the price we were sold for was legally the most it could be and also the shareholders only got back what they paid. I've also heard that the high net worths got a bigger return than they put in.
Can someone explain why this was please?
Not a moan just interested.
The terms of the PST buyout were that no profit could be made if the club was sold on, which is why the Eisners got it so cheap (£3.6m ISTR). I've never heard that the HNW's got any more, but I hope they did find a legal loophole to make that possible.
Cheers Deep, do we know why those terms were in place, it seems a bit odd to me?
Agree about the HNW hopefully finding a loop hole, I bought my share expecting to never see the money again and I was lucky to have the money spare at the time (couldn't do it now in my current position) but the HNW's put a lot more on the line on an individual basis. That's not taking anything away from all the individual shareholders and people who joined syndicates as people did what they could.
RE: When the trust sold Pompey. - BilltheCat - 01-04-2022
My recollection is that we all got our original "grand" back, and the HNW individuals got an additional mark-up on their investment.
I don't recall anyone complaining about it.
RE: When the trust sold Pompey. - DeepBlue - 01-04-2022
Don't recall exactly why those terms were imposed, but I think it was something to do with being allowed to come out of administration 'on the cheap' despite opposition from hostile owners. Whatever it was it made us a very attractive propositon a few years later, and enabled a new buyer to spend the money that would ordinarily have gone on the purchase of the club on the ground instead. So it turned out very much to the club's advantage.
RE: When the trust sold Pompey. - BilltheCat - 01-04-2022
(01-04-2022, 02:18 PM)DeepBlue Wrote: So it turned out very much to the club's advantage.
Even more so the Eisners!
RE: When the trust sold Pompey. - exgaffer - 01-04-2022
It’s all water under the bridge now and there’s no point fretting about it.
We got our money back, I was happy with that.
RE: When the trust sold Pompey. - scouse - 01-04-2022
Was the ownership vehicle a Community Interest Company (CIC)? Or at least it started off as one of those? So there were regulations to be adhered to. That is, regulations that we have to adhere to, but Russian owners don't. It's quite simple really...
RE: When the trust sold Pompey. - slayer - 01-04-2022
It's all moot really. Nothing stopping one guy giving another guy money if that's what he wants to do.
RE: When the trust sold Pompey. - Hammie - 01-04-2022
the limited price meant we could get a decent owner who has still not loaded us with debt.
ALL the owners except perhaps Mandy (and tel who paid £1) going back to include Deacon, spent a lot of headline money only for it to turn out it all had to be repaid when they sold up.
If all they do is give us a decent ground, a training ground with new pitches for reserve/youth set ups, a club owned fitness club, a team that we do not owe finance upon....
Then that would be pretty decent. Not enough to shut up the moaners who would have preferred an oligarch from somewhere dodgy, but not bad.
RE: When the trust sold Pompey. - Wightblue - 01-04-2022
Interesting that your ‘pretty decent’ list never mentions an attractive, winning footballing side with a successful Academy/youth set-up…..or are you assuming that a decent ground, training facilities will automatically produce success at Development/ Academy/ First team level ?
Leap of faith.
RE: When the trust sold Pompey. - exterminator - 01-04-2022
According to The Granaudian we were sold for £5.67m - linky thing https://www.google.co.uk/amp/s/amp.theguardian.com/football/2017/aug/03/portsmouth-sold-former-disney-boss-michael-eisner
RE: When the trust sold Pompey. - mikey393 - 01-04-2022
(01-04-2022, 11:07 AM)DeepBlue Wrote:(01-04-2022, 06:49 AM)HreidarssonHeaders Wrote: I have heard many times that when we were sold the price we were sold for was legally the most it could be and also the shareholders only got back what they paid. I've also heard that the high net worths got a bigger return than they put in.
Can someone explain why this was please?
Not a moan just interested.
The terms of the PST buyout were that no profit could be made if the club was sold on, which is why the Eisners got it so cheap (£3.6m ISTR). I've never heard that the HNW's got any more, but I hope they did find a legal loophole to make that possible.
That was a real bargain as the land must be worth at least £5-6M.
Add the players value of £3-4M making the deal a No Brainer for the Eisners!
RE: When the trust sold Pompey. - Pangus - 02-04-2022
Its a shame that previous posters on this subject have not expressed a wish for owners who have an AMBITION to take this great club and its fantastic fans back to where we belong, at least initially to the Championship PDQ and be prepared to invest some money towards that goal. For me there's a danger that we end up with owners who are quite happy where we are.
RE: When the trust sold Pompey. - Cunninglinguist - 02-04-2022
Is there really a desperate need to get into the Championship?
Still be moaning, then. Probably more so because there’ll be even less chance of winning games.
RE: When the trust sold Pompey. - Rocketman - 02-04-2022
(01-04-2022, 07:44 PM)mikey393 Wrote:You may be right, but I don't seem to remember it was such a good deal that others were lining up to buy us!(01-04-2022, 11:07 AM)DeepBlue Wrote:(01-04-2022, 06:49 AM)HreidarssonHeaders Wrote: I have heard many times that when we were sold the price we were sold for was legally the most it could be and also the shareholders only got back what they paid. I've also heard that the high net worths got a bigger return than they put in.
Can someone explain why this was please?
Not a moan just interested.
The terms of the PST buyout were that no profit could be made if the club was sold on, which is why the Eisners got it so cheap (£3.6m ISTR). I've never heard that the HNW's got any more, but I hope they did find a legal loophole to make that possible.
That was a real bargain as the land must be worth at least £5-6M.
Add the players value of £3-4M making the deal a No Brainer for the Eisners!
RE: When the trust sold Pompey. - Pompeyg100 - 02-04-2022
(02-04-2022, 11:39 AM)Cunninglinguist Wrote: Is there really a desperate need to get into the Championship?
Still be moaning, then. Probably more so because there’ll be even less chance of winning games.
You enjoy watching this shite week in week out?
There’s not a lot of point in professional sport if you don’t want to be the best.
RE: When the trust sold Pompey. - Isaac Hunt - 02-04-2022
It maybe shite, but it's our shite
RE: When the trust sold Pompey. - Gerry Hatrick - 02-04-2022
(02-04-2022, 11:22 AM)Pangus Wrote: Its a shame that previous posters on this subject have not expressed a wish for owners who have an AMBITION to take this great club and its fantastic fans back to where we belong, at least initially to the Championship PDQ and be prepared to invest some money towards that goal. For me there's a danger that we end up with owners who are quite happy where we are.
I live down in the West Country and since we have been in the third tier have always had the consolation that at least we were a notch above my local clubs. Now Plymouth have overtaken us and I fear even Exeter might do the same next season. And it's not not just about where these clubs are currently in the league but their investment - not massive, but prudent - in good management teams and academy programmes. Currently, we have few prospects emerging from our own ranks due to the poor management of the academy and refusal to invest in anything higher than under-18 development. And this was one of Eisner's main stated projects in the Guildhall five years ago.
RE: When the trust sold Pompey. - DeepBlue - 02-04-2022
(02-04-2022, 04:33 PM)Pompeyg100 Wrote:(02-04-2022, 11:39 AM)Cunninglinguist Wrote: Is there really a desperate need to get into the Championship?
Still be moaning, then. Probably more so because there’ll be even less chance of winning games.
You enjoy watching this shite week in week out?
There’s not a lot of point in professional sport if you don’t want to be the best.
Yes.
I enjoy watching Pompey win, lose or draw.
Doesn't mean I don't want them to be better but no reason not to enjoy whatever is put in front of you as long as the players put in some effort.
We are currently a very average league one side the potential to do better. That is very different from being shite.
RE: When the trust sold Pompey. - Isaac Hunt - 02-04-2022
C'mon, Portsmouth should be better than this.....so it`s shite
RE: When the trust sold Pompey. - Pompeyg100 - 02-04-2022
(02-04-2022, 04:37 PM)Isaac Hunt Wrote: It maybe shite, but it's our shite
It’s all shite, shite opposition, shite coverage, shite refs….
RE: When the trust sold Pompey. - Pompeyg100 - 02-04-2022
(02-04-2022, 04:53 PM)DeepBlue Wrote:(02-04-2022, 04:33 PM)Pompeyg100 Wrote:(02-04-2022, 11:39 AM)Cunninglinguist Wrote: Is there really a desperate need to get into the Championship?
Still be moaning, then. Probably more so because there’ll be even less chance of winning games.
You enjoy watching this shite week in week out?
There’s not a lot of point in professional sport if you don’t want to be the best.
Yes.
I enjoy watching Pompey win, lose or draw.
Doesn't mean I don't want them to be better but no reason not to enjoy whatever is put in front of you as long as the players put in some effort.
We are currently a very average league one side the potential to do better. That is very different from being shite.
Good for you.
The football is shite. L1 is shite.
RE: When the trust sold Pompey. - Isaac Hunt - 02-04-2022
Now we are getting somewhere
RE: When the trust sold Pompey. - BlueArmy - 02-04-2022
(02-04-2022, 04:51 PM)Gerry Hatrick Wrote:(02-04-2022, 11:22 AM)Pangus Wrote: Its a shame that previous posters on this subject have not expressed a wish for owners who have an AMBITION to take this great club and its fantastic fans back to where we belong, at least initially to the Championship PDQ and be prepared to invest some money towards that goal. For me there's a danger that we end up with owners who are quite happy where we are.
I live down in the West Country and since we have been in the third tier have always had the consolation that at least we were a notch above my local clubs. Now Plymouth have overtaken us and I fear even Exeter might do the same next season. And it's not not just about where these clubs are currently in the league but their investment - not massive, but prudent - in good management teams and academy programmes. Currently, we have few prospects emerging from our own ranks due to the poor management of the academy and refusal to invest in anything higher than under-18 development. And this was one of Eisner's main stated projects in the Guildhall five years ago.
Plymouth and Exeter?
Both very small clubs. Pompey will always be massively bigger than those type of clubs.