18-02-2022, 07:41 PM
(18-02-2022, 06:39 PM)BilltheCat Wrote: Work out how much Eisner paid for PFC and Fratton Park and then tell us there was "no quick money to be made".
For at least two years he didn't even put his hand in his pocket!
Tornante paid (i think) 3.6m because that was what the PST paid and they weren't allowed any profit under the terms of their buyout from the administrators.
So yes, a paper theoretical profit was instantly made because by any measure the club was worth more than that, but that would have applied no matter who bought it. But no actual quick profit was made, becuase they did not sell it on.
And it is totally untrue to claim that they did not have to put their hands in their pockets for at least 2 years. We know for a fact, because it was in the published accounts, that the first thing Tornante did was put in a £10m fund ring-fenced for ground improvements.