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+--- Thread: CATLIN OUT (/showthread.php?tid=586)
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RE: CATLIN OUT - Wightblue - 15-05-2021
How much of ‘The £700K losses’ were in cash outflows or non-cash (like depreciation for example) ? How much of the expenditure driving the losses could have been delayed,cut back etc ?
Only Bury have ceased trading this season and wasn’t that before Covid ?
Football clubs in the lower tiers such as L1 and 2 have proved to be remarkably resilient to the impact of Covid, probably some retrenchment, furloughing, cutting back on plans etc. But still alive and kicking......and able to beat a Pompey side being bankrolled by its American owners.
No reason to believe that Pompey in fans hands wouldn’t have been able to manage the same. The issues of the ground might well have been ‘back- burnered’, it’s not as if fans were allowed to attend games.
I think you are greatly underestimating the spirit and resilience of Portsmouth FC and it’s fans Rocketman !
RE: CATLIN OUT - bluetagagain - 15-05-2021
We probably wouldn’t be at FP ( or else a very reduced capacity one) if we were still fan owed. How would we have raised another £10M
RE: CATLIN OUT - exgaffer - 15-05-2021
(14-05-2021, 09:13 PM)BilltheCat Wrote: "Simply because at the time selling up appeared a better option for the club".
So you were told. The Trust was perfectly sustainable and could have continued to run the club to this day. The Eisners have spent fvck-all more than would have been available to the Community Club.
Catlin sold you the lie because it created a better paid opportunity for himself.
Be honest. How much further along is the club now than when it was run by people who actually cared?
‘The Eisners have spent fvck-all more than would have been available to the Community Club’.
With that one statement you completely remove any credibility from your argument BTC.
I liked being a shareholder ffs but the fact is we just didn’t have the money, if we had we wouldn’t have sold our shares.
Try taking the Socialist ‘all Yanks are evil, Catlin was only in it to feather his own nest’ hat off ffs.
RE: CATLIN OUT - Gerry Hatrick - 15-05-2021
(15-05-2021, 09:55 AM)exgaffer Wrote:(14-05-2021, 09:13 PM)BilltheCat Wrote: "Simply because at the time selling up appeared a better option for the club".
So you were told. The Trust was perfectly sustainable and could have continued to run the club to this day. The Eisners have spent fvck-all more than would have been available to the Community Club.
Catlin sold you the lie because it created a better paid opportunity for himself.
Be honest. How much further along is the club now than when it was run by people who actually cared?
‘The Eisners have spent fvck-all more than would have been available to the Community Club’.
With that one statement you completely remove any credibility from your argument BTC.
I liked being a shareholder ffs but the fact is we just didn’t have the money, if we had we wouldn’t have sold our shares.
Try taking the Socialist ‘all Yanks are evil, Catlin was only in it to feather his own nest’ hat off ffs.
We are mixing up two things: Catlin's personal credibility and Tornante's track record.
As it happens, I tend to agree with some of BTC's observations regarding the ownership.
Where I wholly depart from his view is his slander of Mark Catlin.
I just don't see why those two events have to be inextricably linked.
We are not back in the Chainrai years. There is no evidence of any misconduct or ulterior motive from our CEO.
The only source is a poisonous imagination.
RE: CATLIN OUT - BilltheCat - 15-05-2021
"I liked being a shareholder ffs but the fact is we just didn’t have the money, if we had we wouldn’t have sold our shares".
People gave up their shares because they were persuaded that community ownership was unsustainable. That doesn't make it true. No one that I knew voted to sell up.
As already mentioned, too many bought Catlin's lie.
No one has yet answered my original question: "How much further along is the club now than when it was run by people who actually cared?"
RE: CATLIN OUT - SouthseaBubble - 15-05-2021
Well, BTC, there was a clear majority for selling. I assume you voted not to. If you only know others who voted against selling, you obviously only know an unrepresentative section of the shareholders. I also liked the idea of being a shareholder, but I didn't buy one because I wanted or felt able to take on a long-term commitment and responsibility for running the club. I bought one because the Trust needed the money in the short term, in the hope of helping to save the club from extinction. I frankly did not know what liabilities I as an individual may have faced in the future. Our HNW individuals were also, as it seemed to me, not that HNW in absolute terms, just a lot higher worth than me and many others. I think that if you are going to slag off Mark Catlin as you do, you need to provide chapter and verse to back up your allegations. But from my perspective, we owe him a debt of gratitude for his work over the past 8 years.
RE: CATLIN OUT - DeepBlue - 15-05-2021
(14-05-2021, 09:13 PM)BilltheCat Wrote: "Simply because at the time selling up appeared a better option for the club".
So you were told. The Trust was perfectly sustainable and could have continued to run the club to this day. The Eisners have spent fvck-all more than would have been available to the Community Club.
Catlin sold you the lie because it created a better paid opportunity for himself.
Be honest. How much further along is the club now than when it was run by people who actually cared?
Where would the Trust have found the millions spent to keep the ground open, yet alone covered the covid losses ??? No lies involved , simple maths . And before you say what spending, read the published accounts.
RE: CATLIN OUT - slayer - 15-05-2021
Trust would have gone into admin this season after defaulting on £11M of spend compared to Tornante (assuming anyone would have even agreed to lend such a sum).
The accounts are public.
Read them.
RE: CATLIN OUT - Gerry Hatrick - 16-05-2021
"How much further along is the club now than when it was run by people who actually cared?"
Here's your answer...
Not much and that is disappointing. Does that make Catlin a liar?
Perhaps, on the contrary, he has brought us deliverance from massive debts that may have been sustained in the last year under the Trust ownership i.e. a return to the dark days.
I don't know know if that's certain but either way, the question doesn't justify your slander of Catlin.
RE: CATLIN OUT - BilltheCat - 16-05-2021
Shareholders were led to believe that the money was needed immediately. No one is disputing that the ground needed a serious injection of dosh to keep it open. But it was actually spent over three years. Who's to say that the community-owned club could not have found the money?
Catlin apparently!
Here's Catlin in July 2015: "The business model we've got is fully sustainable not only in League Two but in League One". Even in May 2017 he described the Trust's running of the club as "a fantastic financial operation".
What changed was that the Eisners started sniffing around the club and his head was turned.
RE: CATLIN OUT - Smirnoffexpress - 16-05-2021
Sounds about right. It all went from everyone being told it was viable as it was to the grounds falling down and we cannot afford to carry out the works as a trust owned club in a very short space of time. What structural surveys highlighted the stated works and at what stage did the surveys occur? All in all, this is very much a case of bolting the stable door etc. Nothing is going to change, we are what we are and we are stuck with it.
RE: CATLIN OUT - oi oi saveloy - 18-05-2021
“The only source is a poisonous imagination”
What a perfect description of him.
RE: CATLIN OUT - teeftwo - 19-05-2021
At the time the Trust took over there was no other option, no one wanted to touch us. The CEO's main job, amongst many responsibilities, is to ensure the financial success of the company. After running for some time as fan owned when the Eisner's became interested the CEO decided, and I agree with him, that the interests of Portsmouth were no longer best served by the Trust model. Other things had become apparent in the intervening time.
There's a reason Mark Catlin is highly regarded throughout football and that's not only because of the way he works and the results he gets but also the way he communicates. I'm really not sure that those who take against him really understand either the function of a CEO or how good he has been as ours. I prefer to trust the judgement of his peers rather than a football fan with an axe to grind.
If a CEO is not good at their job, the board will remove them. That Mark left at a time of his own choosing says a lot.
And us for all this other nonsense about the Eisners wanting to keep Portsmouth down in league one, that's just plain absurd. The only real money to be made in football is at the top table, so that's the long term aim.