Could I just clear something up as there appears to be some confusion over this issue.
Portsmouth FC has some 2,368 shareholders which between them raised about £2.5m through individual pledges of £1,000.
The PST owns just under 51% of the club, with a group of 13 presidents making up the remaining share.
Those presidents include Portsmouth chairman Iain McInnes and property developer Stuart Robinson.
The PST and the presidents are 'all' Pompey fans who invested different amounts of money. It had to be done that way obviously because of the amounts involved ie, how could you treat someone who invested 1k to someone who invested 500k, the same?
The only person who wasn't a life long fan was developer Stuart Robinson, he lent 1mil for 1 year to build a new Tesco next to Fratton Park, he had deal with PFC because the Council wouldn't let him build without upgrading our stand giving us some land or some money.
The council lent PFC £1.2ml for 1 year also only because the FL agreed to pay them back from the remaining parachute payments of £4mil. Both loans have been repaid
The business plan submitted to the FL was based on a 12k gate, there was a forecast of loss for the first 2 years initially but this has been drastically reduced due successful sponsorship deals and higher gates.
The real problem PFC faced was the legacy debts due to the Football creditors rules this amounted to nearly £7mil
http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027
These debts had to paid before PFC was allowed to compete on a level playing field. These debs have only just been cleared also.
I can't see any reason why the fan's of Coventry couldn't raise enough money to purchase their club or at least get the ball rolling for when the opportunity comes around
Portsmouth FC has some 2,368 shareholders which between them raised about £2.5m through individual pledges of £1,000.
The PST owns just under 51% of the club, with a group of 13 presidents making up the remaining share.
Those presidents include Portsmouth chairman Iain McInnes and property developer Stuart Robinson.
The PST and the presidents are 'all' Pompey fans who invested different amounts of money. It had to be done that way obviously because of the amounts involved ie, how could you treat someone who invested 1k to someone who invested 500k, the same?
The only person who wasn't a life long fan was developer Stuart Robinson, he lent 1mil for 1 year to build a new Tesco next to Fratton Park, he had deal with PFC because the Council wouldn't let him build without upgrading our stand giving us some land or some money.
The council lent PFC £1.2ml for 1 year also only because the FL agreed to pay them back from the remaining parachute payments of £4mil. Both loans have been repaid
The business plan submitted to the FL was based on a 12k gate, there was a forecast of loss for the first 2 years initially but this has been drastically reduced due successful sponsorship deals and higher gates.
The real problem PFC faced was the legacy debts due to the Football creditors rules this amounted to nearly £7mil
http://www.portsmouth.co.uk/sport/pompey/player-by-player-breakdown-of-what-pompey-owe-1-5468027
These debts had to paid before PFC was allowed to compete on a level playing field. These debs have only just been cleared also.
I can't see any reason why the fan's of Coventry couldn't raise enough money to purchase their club or at least get the ball rolling for when the opportunity comes around
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