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lappinitup

I wish we were Portsmouth

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Interesting piece in today''s Evening News..........

Should the Canaries take a leaf out of Pompey’s book and become a supporters-owned club?

http://www.eveningnews24.co.uk/views/should_the_canaries_take_a_leaf_out_of_pompey_s_book_and_become_a_supporters_owned_club_1_4933845

"Does Portsmouth have the answer? Portsmouth became the largest

fan-owned club in the country in April 2013 when the Portsmouth

Supporters Trust bought the club for more than £3 million from the

administrators. The new Pompey is built around the long-term viability

of the business which runs the operation.

The club is owned by a

supporters’ group. This ensures that at the heart of the club are its

most valuable and long-term investors: the fans. There was plenty of

cynicism for ‘fan ownership’ but now many clubs are looking at this

model more seriously."

In my view, Norwich City FC can never be compared with the basket case that was Portsmouth FC. Having recovered from one administration with debts of almost £120m, they promptly went into administration again just a couple of years later. Just look at a few of the losers left in their wake.......

St John Ambulance – owed £2,702.

South Central Ambulance Service – owed £19,535.

Portsmouth Students’ Union – owed £2,955.

Cowplain Community School – owed £14,743.

Priory Community Sports Centre – owed £11,000.

King Edward School – owed £41,714.

Carol Moore (a local florist) – owed £995.

Solent Cleaners – owed £585.

Boy Scouts – owed £697.

Admittedly these are debts run up by the old company and nothing to do with the current set-up but it does show how they bought the club so cheaply. Incidentally, £1.2m of the £3m sale was a loan which was paid back from the last set of parachute payments.

So, I think our writer should do a bit more research before using such headlines and especially when he answers his own question with his last line........

"The irony here is that all those on the Norwich board happen to be big fans too!"

[:)]

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Fancy wanting our club to be bought out, mismanaged, and then run to the very brink of liquidation.

What a sh*te article. The author doesn''t seem to understand how or why Portsmouth got where it got to.

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This post was brought to you in association with the Norwich Church of St Delia.

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GP''s Beard" : I wish we were Barcelona"

Permission to dig out my old post about being owned and funded in the Barca model... http://services.pinkun.com/forums/pinkun-forums/cs/forums/1034228/ShowPost.aspx

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Nice YT link.... Sometimes even in these days of gentrification, somethings just don''t change!

I live down this way and that pretty much looks the same as that video!

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Notts County were majority owned by a supporters trust. An investor turned up with promises of endless cash and they ended up back inthe sh*t again.

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[quote user="Nuff Said"]Notts County were majority owned by a supporters trust. An investor turned up with promises of endless cash and they ended up back inthe sh*t again. [/quote]Ebbsfleet didn''t end too well either.

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Not too sure what would happen here when you have the Trust President arguing with the Chairman on social media over the letter sent to the club the week before An was sacked. The Chairman in my book was absolutely right asking for answers but unsurprisingly The President was on the club defensive.

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Mick Dennis hasn''t been president of the Canaries Trust for over a year.

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Just looked on the Trust website and went back over two years and no mention of Mick Dennis standing down or being replaced. Whilst appreciating i am not a member back in the day it was common knowledge Mick was the President so somewhat surprised he disappeared without a goodbye.

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Tilly - A couple of people have asked recently on twitter who is on the committee of the trust and Robin has replied that they are going to list them on the website so that should answer your question.

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Thanks for that Diane but in all honesty not particularly bothered other than the fact there was a spat of social media involving Robin and Mick which i thought rather strange as the last i heard and i am sure i am not the only one who thought MD was the Trust President.

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Now why on earth would supporter-owners even think of selling their club to a foreign billionaire? Isn''t it every fans'' dream to actually own their club rather than just telling everyone that it "really" belongs to them when it doesn''t? Don''t tell me they value bragging rights over it truly being "their" club?

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It seems fan ownership is ok in the lower levels and it''s worked for Pompey until now BUT........"Should a deal be

struck, fans will then be presented with the opportunity to deliver

their own verdict. Those shareholders among the Fratton faithful will,

ultimately, have the final vote on the subject.

Yet the necessity for increased financial muscle in the future is

undeniable.

Should Pompey reach the Championship employing the fan-ownership model

it will be impressive, remaining there would be against all odds.

A thousand more away followers every fortnight will not sufficiently

swell the Fratton coffers to maintain a highly-competitive player

budget.

It has been stated the average wage bill in the Championship is more

than £20m. At Pompey, it is understood to be in the region of £2m.

Then there’s Fratton Park, in desperate need of a new North Stand and

rebuilt Milton End if the club decide to focus on staying.

How to unearth the tens of millions required to fund such crucial ground

improvements is the crucial question."
http://www.portsmouth.co.uk/sport/football/pompey/comment-pompey-fans-the-choice-is-yours-1-7875041Although the fans have done extremely well for the club both financially and on the pitch, they now realise their limitations. Notts County were another club who trod a similar path but eventually had to hand over to a seemingly rich group of investors but who turned out to be ultimate failures.Lovely idea but it rarely works.

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Brentford are another case in point. The supporters trust, Bees United, acquired the club from Ron Noades in dark days but, like the Pompey supporters, came to realise that fan ownership involves a glass ceiling that even the best intentions and ownership strategies cannot break. The agreement they came to with Matthew Benham, a long time fan, gave them the option to buy his stake out after five years and revert to full Bees United ownership, but in the event they voted not to exercise the option. See, for example:

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That''s a strange one wcc, they needed investment to survive and yet they''re planning a new stadium. Odd."In any event, Brentford''s plans for a new stadium at Lionel Road,

Brentford, remain unaffected. “Both the Bees United board and Matthew

Benham are fully supportive of the Lionel Road plans, which would

transform the future of Brentford Football Club as a professional

football club at the heart of the local community,” comments David

Merritt"

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Not really so strange? As the Pompey bulletin says, being able to fund the sort of borrowing needed for a major stadium redevelopment such as both those clubs are facing is beyond the capacities of any supporters trust, even if they own the existing ground. 

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Forgive me quoting the title of one of my favourite Fall songs but it seems Mr Eisner is very much prepared to ruin the Trust owned idyll that has been Portsmouth AFC - see the article I have copied from the Beeb.

It certainly makes you wonder, why can''t we be more like Portsmouth and get a similar injection of cash?

Portsmouth and ex-Disney CEO Michael Eisner to hold exclusive takeover talks

Michael Eisner was chief executive of Walt Disney until 2005

Portsmouth are to enter into exclusive discussions with former Walt Disney chief executive Michael Eisner about a potential takeover of the club.

Reports of Eisner, 75, and his Tornante Investment Group''s interest in the League Two club emerged on Monday.

A 70-day period of negotiation and due diligence has begun.

Portsmouth have been a fan-owned club since exiting administration in 2013, with the Supporters'' Trust (PST) owning a 48% stake.

Eisner, who is also a former President of Paramount Pictures, posted on Twitter: "Exciting times! Looking forward to coming over and meeting you all. Good luck against Newport County on Saturday!!"

Portsmouth are third in League Two, four points inside the automatic promotion places, with eight games remaining this season.

"I think it''s great for Pompey fans in general," manager Paul Cook told BBC Radio Solent.

"Our board and everyone involved, to take the club from where it was three and a half years ago to where it is now, speaks volumes for a lot of people.

"I''ll concentrate on Newport on Saturday and hope everything goes well on that side."

During negotiations, Eisner is expected to explain his future strategy and plans for the club to all shareholders. Portsmouth will not engage in discussions with any other potential bidder during the 70-day period.

Its board have retained Trevor Birch to advise them during the negotiating process, who will liaise with all of the club''s stakeholders.

Birch, a former administrator of the club when it came close to liquidation in 2012, will be key to understanding the club''s "community ethos and intricacies of the current fan ownership model", a statement said.

If a proposed deal is negotiated successfully, shareholders will vote on whether to accept it.

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