by Isaac Hunt » 09 Aug 2012 11:48
by Pepe the Horseman » 09 Aug 2012 11:51
by Geekins » 09 Aug 2012 13:52
by Geekins » 09 Aug 2012 14:33
by TFF » 09 Aug 2012 14:43
by Friday's Legacy » 09 Aug 2012 17:08
by Jackson Corner » 09 Aug 2012 18:39
by Rax » 09 Aug 2012 23:42
Jackson Corner They won't see that money again. The same council that gave Harry Rednap the freedom of Portsmouth after spending millions that got them in to the mess thay are in.
by Barry the bird boggler » 10 Aug 2012 01:05
by buzzby » 10 Aug 2012 07:09
by Who Moved The Goalposts? » 10 Aug 2012 09:24
by PieEater » 10 Aug 2012 09:30
PFC I'm not dead, I'm getting better
by Pepe the Horseman » 10 Aug 2012 09:38
by cmonurz » 10 Aug 2012 09:53
by Alexander Litvinenko » 10 Aug 2012 10:47
by cmonurz » 10 Aug 2012 10:54
by Alexander Litvinenko » 10 Aug 2012 11:00
TFF There are some pretty onerous conditions to that loan though - notably, and iirc, that 2013 parachute money is diverted to the council should the club default on the debt and also that player costs remain within budget (see my last post)
Unanimous agreement to extend the loan offer doesn't mean they'll ever see the cash. But it makes the Portsmouth councillors look like good guys in their constituencies.
by cmonurz » 10 Aug 2012 11:03
by TFF » 10 Aug 2012 11:08
FEARS have been raised over the fans’ bid for Pompey after a list of demands was drawn up over its request for council backing.
Pompey Supporters’ Trust has asked for a £1.4m loan from Portsmouth City Council as part of its proposals to take over the club.
Last week it said its business plan was based on having £3m of pledges.
But council leader Gerald Vernon Jackson sent a letter to trust representatives this week outlining conditions to be met before the authority considers the loan request.
The conditions are:
· A written agreement by the Premier League, Pompey and the trust that the loan will be paid from parachute payments in August 2013.
· The trust’s business plan is approved by the Football League.
· All players must have agreed terms within the finance available in the trust’s business plan.
· The trust has received £3m on deposit from supporters pledges, associate directors and high net work individuals – plus £500,000 additional contingency.
· Trust directors should take a personal charge upon their assets to a council loan to guarantee repayment, or an investor guarantee to the value of the loan.
Councillors are due to meet tomorrow to discuss the loan.
by handbags_harris » 10 Aug 2012 13:35
A written agreement by the Premier League, Pompey and the trust that the loan will be paid from parachute payments in August 2013.
The trust’s business plan is approved by the Football League.
All players must have agreed terms within the finance available in the trust’s business plan.
The trust has received £3m on deposit from supporters pledges, associate directors and high net work individuals – plus £500,000 additional contingency.
Trust directors should take a personal charge upon their assets to a council loan to guarantee repayment, or an investor guarantee to the value of the loan.
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