Food for thought

[jaffa1]

Pompey Supporters' Trust chairman Ashley Brown says the group has proved it is capable of running Portsmouth.
A year since former Pompey owner Balram Chainrai dismissed the group's bid as having "no substance", the PST has 2,170 shareholders, owns 59.3% of the club and has raised nearly £2.5m.
The Hong Kong-based businessman said the PST's bid would fail because of "in-fighting and lack of actual money".
"We've certainly proved Balram Chainrai wrong," Brown told BBC Sport.
"We didn't fail through lack of money and anybody who witnessed any of the open meetings we have had over the past few months would recognise there is no in-fighting."
The PST finally took control of the club in April after reaching an out-of-court settlement with Chainrai, paying £3m for the 'property' (a fixed charge on Fratton Park) and £450,000 for other assets (floating charge) plus two 'add-ons' to his company Portpin.

 

[chapperzUK]

http://www.bbc.co.uk/sport/0/football/24228098

Wouldn't say they have "proved" they can run it yet as they only took over in April, so need at least a year to say they have proved they can run it.

Selling shares at £1,000 each, which is well above what the average fan can afford, I wonder how many actual fans own shares in the Supporters' Trust. With attendances of 15k+ in league 2, there will certainly be a fair amount of income too. They should be looking for a slow rise back to the top rather than gamble. 2 seasons in league 2 with those attendances and spending league 2 wages will do wonders to reduce the debts.

As this is in Shrimpers Chat, I'm guessing you are hinting towards us doing the same? As said before, Ron's companies are so debt-ridden that without his Fossetts Farm dream land he will be finished. The majority of the £10m (as of July 2011) we owe is to the parent company (owned by Ron or Ron's company) so that will have to be paid off. Next is the training ground and the ground. Would Ron be willing to sell them as they are his "pot of gold"? Highly doubt it, unless a big money offer comes in.

What about Roots Hall? That is owned by another of Ron's companies and I believe that technically it is owned by Sainsbury's now or at least there is an agreement in place, but not 100% certain on that one.

As for the Supporters' Trust, I think there should be a membership fee (different tiers too) to be paid each year and they get a share. These will then vote on who represents them to be on the board to run the club. That way we have people running the club that know what they are doing, then each year it gets put to a vote and if those running the club are doing a good job then great keep them in charge for another year.

I doubt we will be able to do this until Ron is willing to let go, that will most likely be when we move into Fossetts Farm.

 

[Jam_Man]

Buying and running SUFC is one thing, but its the development that is the stumbling block for anyone who would want to.

There is a £10 million debt on SUFC's books alone that would need to be cleared, plus whatever other debts Ron has, before he would be able to walk away.

 

[FarmdogSUFC]

Buying and running SUFC is one thing, but its the development that is the stumbling block for anyone who would want to.

There is a £10 million debt on SUFC's books alone that would need to be cleared, plus whatever other debts Ron has, before he would be able to walk away.

I'll get my piggy bank ready then :winking: