Financial Fair Play Initiative: the fans' view

[ZacNaloen]

I'd frankly be pissed off.


The only stuff you should be taking loans out for, or needing massive cash injection is long term investments I.e Infrastructure, academy etc etc.

I'm glad these rules allow this sort of investment.

Supporting unsustainable wages and player purchases is just cheating.

[Friday's Legacy]

The irony of a Pompey fan coming on here to lecture us on financial prudence, whilst, surprise surprise, defending the actions of the individuals which will see his club liquidated....Chanrai for example, "loaned" Pompey £17M using the ground (valued at £3m) as security, £17M being the exact sum that he insisted Gaydamak senior owed him for some dodgy business deal.

And at least Reading fans have SEEN Anton; has any Pompey fan ever seen the mysterious Sheikh who supposedly purchased Pompey off Gaydamak before Chanrai stepped in to protect his investment??

Quite.

I think you mis understand. I do not defend the appalling way our club has been run. Just pointing out that it was financial cash injection from a benefactor in the same way as QPR, Saints etc, not borrowing on the never, never as per Leicester. Only difference is both our owners withdrew funding and re-claimed finance. Something that could happen to any club who are spending beyond their means, which includes most in the championship to a greater or lesser extent.

I wasnt lecturing merely asking what you reaction would be if your club behaved in the same manner as Pompey, Saints, QPR etc as I know you hold financial prudence very dear.

If it goes tits up then we'll get what we deserve, which judging by the amount of lives Portsmouth have had would be a points deduction and a couple of crap years to follow; but I wouldn't have any arguments seeing us drop a couple of divisions if so. At the end of the day this is my club and I will always be here no matter what level we're playing at, and I'm sure you're no different.

The difference with Pompey is two administrations inside 36 months and a defaulted CVA. As tough on the fans as it is you deserve to be liquidated. Somewhere along the line a line must be drawn and other clubs need to wake up and learn this cannot be tolerated. Portsmouth will reform as a new club in non-league football and be back in the FL inside 8-10 years, and you get to earn the respect back that your fans wholeheartedly deserve.

[Rev Algenon Stickleback H]

The irony of a Pompey fan coming on here to lecture us on financial prudence, whilst, surprise surprise, defending the actions of the individuals which will see his club liquidated....Chanrai for example, "loaned" Pompey £17M using the ground (valued at £3m) as security, £17M being the exact sum that he insisted Gaydamak senior owed him for some dodgy business deal.

And at least Reading fans have SEEN Anton; has any Pompey fan ever seen the mysterious Sheikh who supposedly purchased Pompey off Gaydamak before Chanrai stepped in to protect his investment??

Quite.

I think you mis understand. I do not defend the appalling way our club has been run. Just pointing out that it was financial cash injection from a benefactor in the same way as QPR, Saints etc, not borrowing on the never, never as per Leicester. Only difference is both our owners withdrew funding and re-claimed finance. Something that could happen to any club who are spending beyond their means, which includes most in the championship to a greater or lesser extent.

I wasnt lecturing merely asking what you reaction would be if your club behaved in the same manner as Pompey, Saints, QPR etc as I know you hold financial prudence very dear.

Yet you are now many million further in debt than when you came out of administration, fielding a playing squad on silly money, for most of that time being run by an administrator who, 18 months ago, was saying "Gone are the days when extraordinary pay packets put this club in financial trouble. "

[PieEater]

Supporting unsustainable wages and player purchases is just cheating.

^this. Although some clubs have refined it just servicing the debt as opposed to building the debt.

I'm not sure what the arrangements are for QPR, but their "investment" in players and wages is extraordinary. If Fernandes has just loaned the money and secured it on the assets then QPR are fooked as and when they get relegated.

The Saints on the other hand do not seem to be that unsustainable. They fell down the leagues, rebuilt based on a good youth team and have few stars on big wages.

We are more likely to follow the Norwich or Swansea model than QPR (I hope!)

[Mr Angry]

Kieran; I'd be totally embarassed and utterly appalled that we as a club, shafted small business and had caused misery to countless thousands because we chased a dream with money that we didn't have, and could never pay back. Frankly, I'd rather we stayed as a mid table Championship side rather than do that, and I trust that our Chairman won't sell us to someone who would behave in that way.

The belief that Gaydamak or Chanrai had the money is a massive red herring; the money they said they had either never materialised, never existed, or was obtained by illegal methods; that is no justification for the fans to say "ah well, it could have been different" - nope, your club treated everybody as mere mugs to be ripped off again and again (3 administrations in 10 years ffs!) in the quest to give a mid size Championship side and their fans a sense of superiority (as demonstrated when you came to the Mad Stad a few weeks ago).

All Pompey fans who lined the streets when they won the FA Cup in 2008 - were you one? - should be thoroughly embarrassed now when they look back at that victory, because it was tainted in the same way that Ben Johnson's win in the Seoul 100 metres was tainted; also, were you one of those Pompey fans who cheered when you got Tommy Smith form Watford by offering him 3 times the wages we did? Money you didn't have (otherwise, why did your club not pay those wages for months at a time?)

So much for your clubs woes being different from Leicesters!

Basically, its tough on Pompey fans, but your club needs to die to give Football any credibility in the future, and if Reading ended up the same way then yes, we would deserve the same fate.

[Who Moved The Goalposts?]

Kieran; I'd be totally embarassed and utterly appalled that we as a club, shafted small business and had caused misery to countless thousands because we chased a dream with money that we didn't have, and could never pay back. Frankly, I'd rather we stayed as a mid table Championship side rather than do that, and I trust that our Chairman won't sell us to someone who would behave in that way.

The belief that Gaydamak or Chanrai had the money is a massive red herring; the money they said they had either never materialised, never existed, or was obtained by illegal methods; that is no justification for the fans to say "ah well, it could have been different" - nope, your club treated everybody as mere mugs to be ripped off again and again (3 administrations in 10 years ffs!) in the quest to give a mid size Championship side and their fans a sense of superiority (as demonstrated when you came to the Mad Stad a few weeks ago).

All Pompey fans who lined the streets when they won the FA Cup in 2008 - were you one? - should be thoroughly embarrassed now when they look back at that victory, because it was tainted in the same way that Ben Johnson's win in the Seoul 100 metres was tainted; also, were you one of those Pompey fans who cheered when you got Tommy Smith form Watford by offering him 3 times the wages we did? Money you didn't have (otherwise, why did your club not pay those wages for months at a time?)

So much for your clubs woes being different from Leicesters!

Basically, its tough on Pompey fans, but your club needs to die to give Football any credibility in the future, and if Reading ended up the same way then yes, we would deserve the same fate.

^^Uber post.

[kieran]

All Pompey fans who lined the streets when they won the FA Cup in 2008 - were you one? - should be thoroughly embarrassed now when they look back at that victory, because it was tainted in the same way that Ben Johnson's win in the Seoul 100 metres was tainted; also, were you one of those Pompey fans who cheered when you got Tommy Smith form Watford by offering him 3 times the wages we did? Money you didn't have (otherwise, why did your club not pay those wages for months at a time?)

Your getting your history muddled. To be fair I am not surprised and I wouldnt expect you to be an expert in all things Pompey.

The FA Cup era was financed by Gaydamak, who had and still does have lots of money. Unfortunately for us that money was seized, as a results ours went was as well (They have since been cleared of any wrong doing btw). If that happened to Man City, Chelsea the same problem would ensue. Are all their trophies tainted also? If you believe so, then you either need to find another sport or set about changing this one, but dont put 2 + 2 together and get five just so you can heap all the blam on one club.

After that, the club was taken over by what can only be described as a bunch of idiots. The rest I beleive (Tommy smith etc) you have spot on. Disgraceful.

[kieran]

The Saints on the other hand do not seem to be that unsustainable. They fell down the leagues, rebuilt based on a good youth team and have few stars on big wages.

We are more likely to follow the Norwich or Swansea model than QPR (I hope!)

Saints are currently running at 93% trunover on player wages, doesnt sound very sustainable to me. In fact only 9% down on our worst ever - and we are the devil incarnate.

I hope you follow a sensible model also, but I am sure if you dont then you will duly oblige and not follow Reading anymore, not celebrate any win or show any level of support - much like I am instructed to do by many Reading fans

[PieEater]

Saints are currently running at 93% trunover on player wages, doesnt sound very sustainable to me. In fact only 9% down on our worst ever - and we are the devil incarnate

Not true, that's not their current state, that was for League 1 and it included promotion bonuses and the Pardew pay off. This years figures have not been published yet but I'd be surprised if it were so high as they have a lot higher income from the Championship.

[Rev Algenon Stickleback H]

The Saints on the other hand do not seem to be that unsustainable. They fell down the leagues, rebuilt based on a good youth team and have few stars on big wages.

We are more likely to follow the Norwich or Swansea model than QPR (I hope!)

Saints are currently running at 93% trunover on player wages, doesnt sound very sustainable to me. In fact only 9% down on our worst ever - and we are the devil incarnate.

I hope you follow a sensible model also, but I am sure if you dont then you will duly oblige and not follow Reading anymore, not celebrate any win or show any level of support - much like I am instructed to do by many Reading fans

I doubt people are saying you should stop supporting them, just stop acting as victims saying it's unfair that you are punushed. How is suffering austerity because of debt any more unfair than enjoying success on credit that could never be paid back?

[Mr Angry]

All Pompey fans who lined the streets when they won the FA Cup in 2008 - were you one? - should be thoroughly embarrassed now when they look back at that victory, because it was tainted in the same way that Ben Johnson's win in the Seoul 100 metres was tainted; also, were you one of those Pompey fans who cheered when you got Tommy Smith form Watford by offering him 3 times the wages we did? Money you didn't have (otherwise, why did your club not pay those wages for months at a time?)

Your getting your history muddled. To be fair I am not surprised and I wouldnt expect you to be an expert in all things Pompey.

The FA Cup era was financed by Gaydamak, who had and still does have lots of money. Unfortunately for us that money was seized, as a results ours went was as well (They have since been cleared of any wrong doing btw). If that happened to Man City, Chelsea the same problem would ensue. Are all their trophies tainted also? If you believe so, then you either need to find another sport or set about changing this one, but dont put 2 + 2 together and get five just so you can heap all the blam on one club.

After that, the club was taken over by what can only be described as a bunch of idiots. The rest I beleive (Tommy smith etc) you have spot on. Disgraceful.

DeLOLuded!!

How come he doesn't buy your club then? After all, he claims that Portsmouth FC owe him £32M, and he is SO rich, that he demanded a £2.5M payment from Pompey in late 2010 - because he was unsure the club could re-pay it!!!

Oh yeah - "The money was seized..." by whom, and for what reason?

Ever see Al Fahim btw? The bloke Gaydamak sold your club to? Or Al Faraj? Just wondered like.........



And what a laugh to imply that Pompey were the epitome of an astutely run football club in May 2008!! They were in administration under 2 years later. Football isn't about having debts, its about being able to service those debts; at no time were Portsmouth FC ever able to service the ever growing debt that they began to incur from 2004/5 onwards, initially to stave off relegation, and then to pursue the dream.

And that, my friend, is cheating.

Cheating all the little suppliers who have had to take the financial hit because of the criminally negligent way your club was run, cheating all the clubs in the same League as you and in the Cup competitions, by securing players you couldn't afford to bring you success that you didn't deserve, and cheating the Country out of all the taxes you didn't pay.

Your club is a laughing stock and an embarassment to football, and the sooner it dies, the better.

[Rev Algenon Stickleback H]

On a side note, it annoys me when people refer to Fulham as being a "well-run" club. They have debts of £180 million.

[Friday's Legacy]

Soccer Saturday were saying earlier West Ham have a wage bill of around £38m. If they don't go up this season then they think their finances will cripple the club, having to bring their outgoings in line with the FFAI for next season.