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+--- Thread: Accounts show PFC is in safe hands. (/showthread.php?tid=4080)
Accounts show PFC is in safe hands. - Mostlysunny - 27-03-2024
The Club's accounts have just been published...
Statement Of Accounts - News - Portsmouth (portsmouthfc.co.uk)
Positive points....
Nearly £7m being invested in improving facilities, which would seem to underpin the net asset value of £23m (I'm not sure if the value of players are included as net assets?)
Level of of amortisation and depreciation (£1.3m) indicates that the Club are taking a responsible approach and not trying to dress things up
Conversion of £7m into share capital rather than loans (i.e. debt) is a huge plus.
In all my years supporting PFC, I cannot recall the Club being run so proficiently.
Bloomin great!
RE: Accounts show PFC is in safe hands. - stayinupforever - 27-03-2024
And if I read it correctly the owners have "put in" a £35m investment.
RE: Accounts show PFC is in safe hands. - Rocketman - 27-03-2024
They've been great. Some on here will still moan about them!
RE: Accounts show PFC is in safe hands. - D'Alessandro dreaming - 27-03-2024
So the Eisner's have invested 35 million into the club since they arrived. Fantastic from them. The financially illiterate Dins can moan all they like about how they 'got the club on the cheap' but the fact is that they have put serious sums in nd improved infrastructure big time.
RE: Accounts show PFC is in safe hands. - slayer - 27-03-2024
Those silly cunts go around in circles. We didn't need to sell bla bla bla. Yes we fucking did. We didn't have £35m, they did. Thank fuck
RE: Accounts show PFC is in safe hands. - tl73 - 27-03-2024
Players only count on the balance sheet when they are bought and sold (and their wages). They do not count as assets.
RE: Accounts show PFC is in safe hands. - Hammie - 27-03-2024
and although we have sent more on players than we bought in, still only about 800k including Bishop. and the much reduced loan costs too.
Without Bish who was already playing (no doubt plus some others too such as Pack and Morell?) that is only about 300k which seems extremely good business for the massive improvement on the pitch.
RE: Accounts show PFC is in safe hands. - D'Alessandro dreaming - 27-03-2024
(27-03-2024, 07:58 PM)slayer Wrote: Those silly cunts go around in circles. We didn't need to sell bla bla bla. Yes we fucking did. We didn't have £35m, they did. Thank fuck
There was a certain romance to being fan owned and I am very proud of the PST for steadying the ship and putting us in a position where Pompey were attractive to grown up, sensible investors again.
The reality is though that with all the will in the world, the money was not there to sustain a competitive league one side AND improve the infrastructure at the same time without major investment. The club had fallen years or even decades behind off the field.
RE: Accounts show PFC is in safe hands. - Gerry Hatrick - 28-03-2024
(27-03-2024, 04:30 PM)Mostlysunny Wrote: The Club's accounts have just been published...
Statement Of Accounts - News - Portsmouth (portsmouthfc.co.uk)
Positive points....
Nearly £7m being invested in improving facilities, which would seem to underpin the net asset value of £23m (I'm not sure if the value of players are included as net assets?)
Level of of amortisation and depreciation (£1.3m) indicates that the Club are taking a responsible approach and not trying to dress things up
Conversion of £7m into share capital rather than loans (i.e. debt) is a huge plus.
In all my years supporting PFC, I cannot recall the Club being run so proficiently.
Bloomin great!
Blimey, you're a lot of clever barstewards, aren't you? I'm not sure I understand any of that aside from 'Bloomin great!'
What I do know from reading the English translated version of the accounts is that we spent about double on transfers this season to the previous year. However, about half that £1.7m was recouped through the sale of players.
If we go up - IF people, IF - that £1.7m is going to look like small change to the budget required during the next 12 months..
RE: Accounts show PFC is in safe hands. - bluetagagain - 28-03-2024
Keep that half empty glass topped up Gerry.
RE: Accounts show PFC is in safe hands. - exgaffer - 28-03-2024
(27-03-2024, 11:03 PM)D'Alessandro dreaming Wrote:(27-03-2024, 07:58 PM)slayer Wrote: Those silly cunts go around in circles. We didn't need to sell bla bla bla. Yes we fucking did. We didn't have £35m, they did. Thank fuck
There was a certain romance to being fan owned and I am very proud of the PST for steadying the ship and putting us in a position where Pompey were attractive to grown up, sensible investors again.
The reality is though that with all the will in the world, the money was not there to sustain a competitive league one side AND improve the infrastructure at the same time without major investment. The club had fallen years or even decades behind off the field.
Yep it was great owning a share in Pompey and very satisfying that we were able to steady the ship.
The harsh reality was that we didn’t have enough money and FP would probably have half the ground closed by the safety people by now. Not to mention having no money to invest in players.
The fan ownership model only works if you have a lot of rich fans willing to invest. Sadly we didn’t so we had to sell.
I don’t think we could have picked better custodians than the Eisners.
Onwards and upwards. PUP
RE: Accounts show PFC is in safe hands. - teeftwo - 28-03-2024
I think this shows how short sighted and misguided the "Coalishun" were. They'd have us go back to the bad old days of borrow to invest and then go bust. I wonder if they are still demanding a meeting.
The Esiner's have done, and continue to do, everything they said they would. There's a lot of experience in that boardroom.
RE: Accounts show PFC is in safe hands. - Trarchus - 28-03-2024
Can only say the increase in revenue of, £500k on tickets sales etc, is very encouraging.
The acquisition of a number of our players have been shrewd buys and would probably cover more than 2022/23 loss.
The Eisners have done really well on all fronts, we all should be well happy. PUP!
RE: Accounts show PFC is in safe hands. - Cunninglinguist - 28-03-2024
We are going up as champions, even my missus believes so.
RE: Accounts show PFC is in safe hands. - firqdays - 29-03-2024
So nice to say that none of us are showing too much surprise.
Only Contentment with our club, the owners and management.
RE: Accounts show PFC is in safe hands. - Gerry Hatrick - 29-03-2024
(28-03-2024, 05:13 PM)Cunninglinguist Wrote: We are going up as champions, even my missus believes so.
I'm sure lots of things are going up where you are C. but we need to do it without the help of little blue pills.
RE: Accounts show PFC is in safe hands. - D'Alessandro dreaming - 29-03-2024
The owners keeping us debt free is massive. I remember some of our bedwetters looking longingly over at the Wrexham 'fairytale' wishing our owners had that level of 'ambition' but their accounts show they are in debt to the tune of 17 million (mainly to the owners) while Salford owe their parent company 14 million.
RE: Accounts show PFC is in safe hands. - Cunninglinguist - 29-03-2024
(29-03-2024, 10:25 AM)Gerry Hatrick Wrote:(28-03-2024, 05:13 PM)Cunninglinguist Wrote: We are going up as champions, even my missus believes so.
I'm sure lots of things are going up where you are C. but we need to do it without the help of little blue pills.
Get up to the bar and fill that glass, Gerry
RE: Accounts show PFC is in safe hands. - Gerry Hatrick - 29-03-2024
(29-03-2024, 11:36 AM)Cunninglinguist Wrote:(29-03-2024, 10:25 AM)Gerry Hatrick Wrote:(28-03-2024, 05:13 PM)Cunninglinguist Wrote: We are going up as champions, even my missus believes so.
I'm sure lots of things are going up where you are C. but we need to do it without the help of little blue pills.
Get up to the bar and fill that glass, Gerry
OMG I think I might be turning into a Titchfield!