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Post by empirebaypete on Jul 25, 2014 9:04:01 GMT
Simple mate - administration. Sad but true. It does make you wonder... Again?? They've done that before though haven't they. Surely they should be kicked out the league and replaced by a club run on a sound footing who are looking to the future.
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Post by Cantankerous Gas on Oct 1, 2014 8:23:02 GMT
What's the betting they clear all their debts before we regain our league status? Portsmouth announce club officially debt-free, two years ahead of scheduleLeague Two side Portsmouth have announced that the club is now officially debt-free, two years ahead of schedule and only 18 months after a fans' consortium took over ownership. Pompey are eighth in the table after a solid start to this season and the outlook at Fratton Park looks positive after suffering three relegations, two administrations and five different owners during a turbulent period which threatened the whole future of the football club. The final reported amount of £7million has been paid off by the consortium to creditors and a club statement said: "Portsmouth Community Football Club would like to announce that all legacy debts taken on by the club as part of its exit from administration in April 2013 have now been fully settled. "Everybody at the club has worked hard in reorganising our operations during the past 18 months and the legacy debts were a significant liability hanging over this ongoing process. "We would like to thank all staff, supporters, directors and the PFA for their assistance in enabling this to be achieved well ahead of schedule. "PCFC can now fully focus its efforts on looking forwards instead of backwards, while still recognising that the rebuilding process will continue to be a difficult task in the years ahead. "Our imminent move to a new training ground is a fundamental part of this work in putting in place foundations to enable the sustainable growth of all aspects of the club."
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Post by pudseygas on Oct 1, 2014 9:00:21 GMT
Well done Pompey. Hope they learn from their mistakes and make sure they don't get into a mess again
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Post by BishopstonBRFC on Oct 1, 2014 11:22:20 GMT
If they can come back from that then surely we'll be back?
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Post by socrates on Oct 1, 2014 11:27:52 GMT
If they can come back from that then surely we'll be back? Of course we'll be back. We are Bristol Rovers, strike us down and we'll come back more powerful than you could possibly imagine.
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Post by Mark Ash on Oct 1, 2014 11:57:18 GMT
On the radio yesterday, the story was that PFC is now debt-free. Not sure what they mean by that, given these figures. Also, much was made of the club being a"community club", run by the fans. Not sure what that means in practice either, but the feeling was that they would need to sell it again to a big investor if/when they reached the Championship, to get the ridiculous funds needed for more players like these in the list, I suppose.
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Post by Topper Gas on Oct 1, 2014 12:07:01 GMT
It's a bit mystifying how a "community club" could of paid off debts of £7m in just one, or is it two?, seasons given that our turnover last season will get nowhere near that figure. If Pompey averaged 15,000 gates at £15 per ticket that doesn't give them a turnover anywhere near £7m, so not sure how they generated £7m "profit" after expenses/wages etc to pay off the debts.
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Post by gassince1957 on Oct 1, 2014 12:11:23 GMT
It's a bit mystifying how a "community club" could of paid off debts of £7m in just one, or is it two?, seasons given that our turnover last season will get nowhere near that figure. If Pompey averaged 15,000 gates at £15 per ticket that doesn't give them a turnover anywhere near £7m, so not sure how they generated £7m "profit" after expenses/wages etc to pay off the debts. I think some of the players who were owed money settled for lower amounts - Ashton Gate 8 all over again!
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Post by Mark Ash on Oct 1, 2014 12:18:35 GMT
It's a bit mystifying how a "community club" could of paid off debts of £7m in just one, or is it two?, seasons given that our turnover last season will get nowhere near that figure. If Pompey averaged 15,000 gates at £15 per ticket that doesn't give them a turnover anywhere near £7m, so not sure how they generated £7m "profit" after expenses/wages etc to pay off the debts. Club shirts cost £10,000 in the shop.
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Post by Dirt Dogg on Oct 1, 2014 12:53:00 GMT
It's a bit mystifying how a "community club" could of paid off debts of £7m in just one, or is it two?, seasons given that our turnover last season will get nowhere near that figure. If Pompey averaged 15,000 gates at £15 per ticket that doesn't give them a turnover anywhere near £7m, so not sure how they generated £7m "profit" after expenses/wages etc to pay off the debts. Club shirts cost £10,000 in the shop. They don't tell you that until it's been scanned through the till, at which point it's already too late. Bit like ordering a drink at a dodgy Chinatown strip club!
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Post by baggins on Oct 1, 2014 13:08:21 GMT
Club shirts cost £10,000 in the shop. They don't tell you that until it's been scanned through the till, at which point it's already too late. Bit like ordering a drink at a dodgy Chinatown strip club! [br And you would know that how?
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Post by Dirt Dogg on Oct 1, 2014 13:23:33 GMT
They don't tell you that until it's been scanned through the till, at which point it's already too late. Bit like ordering a drink at a dodgy Chinatown strip club! [br And you would know that how? Well, I have been 'performing' here for a few years now..
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Post by Deleted on Oct 1, 2014 15:02:40 GMT
[br And you would know that how? Well, I have been 'performing' here for a few years now.. Underperforming more like.
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Post by Dirt Dogg on Oct 1, 2014 16:51:49 GMT
Well, I have been 'performing' here for a few years now.. Underperforming more like. Look mate if you've got a problem with what I do then take it up with Supreme leader Kim Yung Un, he's bankrolled half of London + our beloved Rovers for years, and to what credit? None! The world only knows him as a brutal tyrant which is complete lie, he's a top bloke!
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Post by Deleted on Oct 1, 2014 20:48:00 GMT
I would still rather have what they have and have had than what we have. At least they have been to the Premier League and have won the FA Cup. We have done jack unless you count a few trips to Wembley/Millenium and a best ever finish of 6th in division 2 in the fifties. I would live the rest of my life a happy man if Rovers had achieved half of what Pompey have, yes it broke them, but at least they had the guts to go for it and if they do go under they wont be forgotten. Who apart from us would remember Rovers.
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Post by Dirt Dogg on Oct 1, 2014 21:14:15 GMT
I would still rather have what they have and have had than what we have. At least they have been to the Premier League and have won the FA Cup. We have done jack unless you count a few trips to Wembley/Millenium and a best ever finish of 6th in division 2 in the fifties. I would live the rest of my life a happy man if Rovers had achieved half of what Pompey have, yes it broke them, but at least they had the guts to go for it and if they do go under they wont be forgotten. Who apart from us would remember Rovers. City will.. And to the 50+ 'guests' on our forum now, there's no hiding the 200 page thread on non-league Rovers who you apparently care absolutely nothing about.
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Post by Deleted on Oct 1, 2014 21:45:15 GMT
I would still rather have what they have and have had than what we have. At least they have been to the Premier League and have won the FA Cup. We have done jack unless you count a few trips to Wembley/Millenium and a best ever finish of 6th in division 2 in the fifties. I would live the rest of my life a happy man if Rovers had achieved half of what Pompey have, yes it broke them, but at least they had the guts to go for it and if they do go under they wont be forgotten. Who apart from us would remember Rovers. City will.. And to the 50+ 'guests' on our forum now, there's no hiding the 200 page thread on non-league Rovers who you apparently care absolutely nothing about. Thats a great comfort.
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Post by Mark Ash on Oct 1, 2014 22:48:23 GMT
I would still rather have what they have and have had than what we have. At least they have been to the Premier League and have won the FA Cup. We have done jack unless you count a few trips to Wembley/Millenium and a best ever finish of 6th in division 2 in the fifties. I would live the rest of my life a happy man if Rovers had achieved half of what Pompey have, yes it broke them, but at least they had the guts to go for it and if they do go under they wont be forgotten. Who apart from us would remember Rovers. Can't believe you've forgotten the 1972 Watney Cup already!
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Post by Mark Ash on Oct 1, 2014 22:55:52 GMT
Anyway, Pompey have always been a bigger club. They're bigger than City too, wherever they are in the League. City have never won a major trophy either. Look at the support Portsmouth get, plus another FA Cup win after the War. We couldn't muster the resources to win the Cup, even by going broke - it's just not comparing like with like. But we CAN be a lot better than we are, and I believe we are on the way to doing that.
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Post by Mark Ash on Oct 1, 2014 23:06:50 GMT
Underperforming more like. Look mate if you've got a problem with what I do then take it up with Supreme leader Kim Yung Un, he's bankrolled half of London + our beloved Rovers for years, and to what credit? None! The world only knows him as a brutal tyrant which is complete lie, he's a top bloke! I thought he was famous for his cool hairstyle. He's a dude. Oh yeah... and for feeding his uncle to the dogs, obviously. Tell you what: if he ran our club, that stadium would be up in no time, and full every match, with fans all wearing the same clothes... I may have drifted off topic... Time for bed.
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