Maybe something for the "Why don't Bolton go for glory?" posters to think about -

 

 

Good News

 

Portsmouth owner (Gaydamak) paid ?52 million to buy the club in January / summer 2006

 

Spent big on players - ?67.3m since January 2005

 

Won the FA Cup last year.

 

Bad News

 

Sold Diarra for ?20m, and Defoe for ?15m in January and brought in a 33 year old Greek and Hayden Mullins instead (plus ?4.5m on an Algerian)

 

One point above the relegation zone, out of all cup competitions, carrying a reported ?80m of debt and without a manager.

 

"At the end of last season, we were expecting the club to go out and spend about ?20m-?30m on three or four big signings to strengthen the team," Kevin Ryan, secretary of the Portsmouth supporters' club, told BBC Sport.

 

But Portsmouth are a club who have chased the dream for two or three years and lived beyond their means in terms of finance and Premier League position. Now we're feeling the financial consequences."

 

Winning the FA Cup, and therefore earning a Uefa Cup spot, will go down as one of Portsmouth's finest achievements.

 

But many close to the club believe that in attempting to reach such heights the seeds of their demise were sown.

 

On 7 December 2008, Gaydamak announced he was putting Portsmouth up for sale. He described the need for a new stadium and training ground as "imperative", adding he was unable to fulfil the club's needs.

 

With wages accounting for 60% of Portsmouth's turnover, according to chief executive Peter Storrie, and several outstanding payments due on transfer fees, the financial situation is not looking good.

 

After Portsmouth's recent defeat at Fulham, it is understood the players held a mini crisis meeting, which Crouch described as "a ruck".

 

Almost as important is the injection of some much-needed funds, which will only come if Gaydamak can find a buyer (possibly for a knockdown ?18m) who is prepared to build a new stadium and invest in the club.

 

If Portsmouth are relegated, selling a Championship club in the current economic climate would prove near impossible.

 

 

Read all about it here -

 

http://news.bbc.co.uk/sport1/hi/football/t...uth/7879229.stm

Hopefully, this might cause people to reflect on the wise ways of our current Chairman and his tight financial control on things.

Hopefully, this might cause people to reflect on the wise ways of our current Chairman and his tight financial control on things.

 

 

Bang on

 

And my favourite phrase.....be careful what you wish for

?35 million back in player sales, knock that off ?80m = ?45m less than what we owe + they got a FA cup

Edited February 12, 200917 yr by Traf

?35 million backin player sales knock that of ?80m = ?45m less then what we owe + thay got a FA cup

 

Do I decipher from your hieroglyphics that you believe that Portsmouth are in a better state of financial health than Bolton Wanderers? I am sure it won't take some of the smarties on here 5 minutes to prove or disprove this.

Do I decipher from your hieroglyphics that you believe that Portsmouth are in a better state of financial health than Bolton Wanderers? I am sure it won't take some of the smarties on here 5 minutes to prove or disprove this.

no pal but my maths is better then my spelling

?35 million backin player sales knock that of ?80m = ?45m less then what we owe + thay got a FA cup

 

 

they owe ?80m, their wages take out a big % of income, so they are havomg to sell players. The ?80m is after selling players. when you sell a player you do not get cash in up front it is paid over time so deos not reduce the debt that much.

 

they need to build a new ground.

 

their owner is trying to sell, no one wants to buy.

 

their squad has 2 saleable assets now in crouch and james, but neither will attract massive amounts due to their age. campbell and distin are too old.

 

the point is one club bolton has debts that are manageable and do not affect the running of the club (us)

 

the other has debts they can not manage so desicions are being forced on the club,, sacking a manager will cost them millions (i assume he was on a decent contract) the new manager will be someone desperate, as they have money, no way of raising money. They need to spend millions to either get their ground upto scratch or build a new ground.

 

if you are happy with the situation pompey are in I am sure you will be on the phone to Ocean Finance, they will be able to sort you out.

Glenn Johnson is an asset. 8m I reckon

 

And that other bloke who's injured a lot.

f*ck em! i'd like to see all clubs go tits up then we can start to watch football for what it is! sport! not a money controlled black hole of despair and loathing!!!!

 

i think i need a beer! or a coffee seeing as its only 8.20am sod it guinness it is!

f*ck em! i'd like to see all clubs go tits up then we can start to watch football for what it is! sport! not a money controlled black hole of despair and loathing!!!!

 

i think i need a beer! or a coffee seeing as its only 8.20am sod it guinness it is!

spot on season in the championship me thinks

You've only got to look how well they did under 'Arry to know that if they get a decent manager in they'll do alright and survive. Managers like Sven and Grant will NOT be able to keep them up. They have no experience of fighting for survival. THe perfect candidate for pompey would be Alan Curbishley. He's used to the shoe string budget, and has experience of fighting relegation.

Glenn Johnson is an asset. 8m I reckon

 

And that other bloke who's injured a lot.

 

Crouch would bring a similar amount

 

They aren't the new Leeds though.Leeds are a much bigger club.

Portsmouth won the FA Cup on smaller crowds than Leeds were getting in the old 3rd Division last season.

Pompey were a rich man's toy for a few seasons and now the rich man has got bored and decided he wants his cash back.

More like a Blackburn but their Jack Walker got bored than a Leeds.

 

Without Mandaric and then the new owner pumping cash in Portsmouth would probably never have played in the Premier League.Redknapp wouldn't have gone there if there wasn't the new money to get them into the Prem

Glenn Johnson is an asset. 8m I reckon

 

And that other bloke who's injured a lot.

 

fair call on Johnson i had forgotten him.

 

You've only got to look how well they did under 'Arry to know that if they get a decent manager in they'll do alright and survive. Managers like Sven and Grant will NOT be able to keep them up. They have no experience of fighting for survival. THe perfect candidate for pompey would be Alan Curbishley. He's used to the shoe string budget, and has experience of fighting relegation.

 

 

harry the twitch spent a lot of money, not just fees but wages.

 

unless a big benefactor comes in it is a question of when they drop not if.

Crouch would bring a similar amount

 

They aren't the new Leeds though.Leeds are a much bigger club.

Portsmouth won the FA Cup on smaller crowds than Leeds were getting in the old 3rd Division last season.

Pompey were a rich man's toy for a few seasons and now the rich man has got bored and decided he wants his cash back.

More like a Blackburn but their Jack Walker got bored than a Leeds.

 

Without Mandaric and then the new owner pumping cash in Portsmouth would probably never have played in the Premier League.Redknapp wouldn't have gone there if there wasn't the new money to get them into the Prem

 

pompeys turnover is far greater than that of leeds

fair call on Johnson i had forgotten him.

 

 

kranjcar the other (new it would come to me), when fit he's worth a similar amount if not more...

 

portsmouth have a decent 1st team, but just an appalling ex manager in adams...

Pompey were a rich man's toy for a few seasons and now the rich man has got bored and decided he wants his cash back.

More like a Blackburn but their Jack Walker got bored than a Leeds.

 

Jack Walker didn't get bored. He died!

 

But I'd love City, who managed to get their Billionaire on board to ensure their MASIIIIVE status, to suddenly find out the cash has dried up, with their mega-bucks stars eating a huge amount of debt into the club.

Jack Walker didn't get bored. He died!

he went as stiff as a board, does that count?

harry the twitch spent a lot of money, not just fees but wages.

 

unless a big benefactor comes in it is a question of when they drop not if.

 

But the majority of the player's he brought in are still there. Lets face it, Tony adams couldn't organise a pi$$ up in a brewery, so it only needs somebody with a bit of tactical awareness to keep them up.

 

Then in the summer they can start from scratch and get rid of all the high earners.

 

This running a football club malarky is a piece of pi$$!

But the majority of the player's he brought in are still there. Lets face it, Tony adams couldn't organise a pi$$ up in a brewery, so it only needs somebody with a bit of tactical awareness to keep them up.

 

Then in the summer they can start from scratch and get rid of all the high earners.

 

This running a football club malarky is a piece of pi$$!

 

 

aye if only money was nt an issue, twitchy spent more than the club could afford, his spending was funded by a generous owner.

 

now that money has dried up they can not sign anymore, they also have to sell players, hence depsite the ?35m sales they still need to sell more.

 

twitchys approach was not sustainable, i agree that putting the pisshead in charge was a sammy lee style appointment, the biggets problem they now have is that the season is a lot further on so anyone coming in has to use what they have, no wheeling and dealing.

 

you have to ask who will go there ? anyone good will want a lot of money which they do nt have.

 

of harrys signings distin and campbell seem to have been caught by father time, a lot of others were playing well in a good team and now are looking very average.

They have no experience of fighting for survival.

 

they do, they did probably the 2nd greatest escape after west brom

 

not sure how many of their current players were there mind

 

but it was only a couple of years back

they do, they did probably the 2nd greatest escape after west brom

 

not sure how many of their current players were there mind

 

but it was only a couple of years back

 

No I meant the managers, Grant and Sven. The 2 managers that have been linked with the job. I rekon they need to go with Curbishley.

Edited February 12, 200917 yr by Gaz Nt

Hopefully, this might cause people to reflect on the wise ways of our current Chairman and his tight financial control on things.

 

I beg to differ there Bolty.

 

We are ?53M in debt, up from ?33M only 2 years ago.

 

The big difference (and the only one that really matters here) is that our owner does not want to sell. If Eddie Davies wakes up tomorrow and decides he wants out, the banks will lose all confidence in us and we very quickly will be in a similar mess of trying to find a buyer and fast.

I beg to differ there Bolty.

 

We are ?53M in debt, up from ?33M only 2 years ago.

 

The big difference (and the only one that really matters here) is that our owner does not want to sell. If Eddie Davies wakes up tomorrow and decides he wants out, the banks will lose all confidence in us and we very quickly will be in a similar mess of trying to find a buyer and fast.

 

problem is though, if the debt hadnt risen we'd have been relegated last year.

Anyone remember how smarmy the sailor-boys were when that Russian first bought them?

 

Bragging about this & that, and telling all & sundry they were going to have one of the countries best grounds built.....and now....f?cked

 

They can sink down the football league with Southampton for me

problem is though, if the debt hadnt risen we'd have been relegated last year.

 

Don't disagree Homer.

 

Portsmouth are a warning to all - once the owner has had enough and pulls the rug from under the finances and guarantees that are satisfing the banks, a lot of clubs could follow suit...us included.