Players supporting Trust Community Buyout bid

[blue architect]

I'm not sure, but I know that a number of parties have signed NDAs and not then continued to full due diligence i.e. have full access to the data room. I suspect that is the case with the two other parties mentioned.

I and others from the Trust, have spoken to many interested parties over the months and are continuing to do so. Interestingly, some are talking to us at the suggestion of the administrator and some are talking to us without involving the administrator.

As I have said before, the Trust has a duty to explore any possibility to save our club and give the community a say in it's running and that means ANY possibility.

The PST is the most credible and, thankfully, the response so far has been good and in line with our expectations. Just today, the club has sent an email to all fans on it's database giving details and the link to the Community Share website http://www.communitypompey.co.uk

We are still working flat out to make this happen and my expectation is that it will. If people can pledge to buy a share, it will make our job much easier if they do it now!

Thanks for that Mick, and my intent is not to criticise nor undermine the work that you and others are doing to attempt to secure the future of our club. Indeed, you have my gratitude and admiration for doing so.

However, my real concern is this. If nobody other than PST is seriously considering the purchase of the 'existing' club, the logical explanation is that nobody else believes that the asking price and/or the ongoing risk is worth taking. Therefore, my fear about a PST buyout is that it's motivated out of love for the club and, as the old saying goes, love is blind. You and I both know that it's human nature, when we really want something, to emphasise the positives and to glos over the negatives.

If someone can convince me as to why it's more beneficial (in the short, medium and long term) to attempt to resuscitate something which, in medical terms, is in a persistent vegetative state rather than to nurture a new baby, then I'd gladly stump up a £100 deposit.

Surely the whole reason for Due Diligence and access to the Data Room is so that PST's "professional" team (I have used professional in inverted commas as I do not know who they are but the bid is endorsed/helped/aided by professional accountants/lawyers etc, so assume it's these guys) to check the viability of running the club, whether it is worth saving and then giving an unbiased opinion of the share option take up would work. They may come back and confirm your suspicions that it is a basket case and we all run away from it. Alternatively they may say that for £5M it could work. My £100 is a deposit to get these answers, for which I may loose £2.50. Surely it's a no-brainer?

[No Shot Sherlock]

Surely the whole reason for Due Diligence and access to the Data Room is so that PST's "professional" team (I have used professional in inverted commas as I do not know who they are but the bid is endorsed/helped/aided by professional accountants/lawyers etc, so assume it's these guys) to check the viability of running the club, whether it is worth saving and then giving an unbiased opinion of the share option take up would work. They may come back and confirm your suspicions that it is a basket case and we all run away from it. Alternatively they may say that for £5M it could work. My £100 is a deposit to get these answers, for which I may loose £2.50. Surely it's a no-brainer?

Of course you are correct, so long as the 'professional' advisors are not wearing blue-tinted glasses, and I believe the accountants or lawyers (can't remember which), or perhaps both, are themselves Pompey fans. And if PST already has access to the data room and is undertaking due dilligence, why do they need more deposits now when they would perhaps be better waiting until they have something concrete to put to fans, whether that be "yes, we should proceed with a community buyout, this is why and this is how much we need", or a "no, we'd be flogging a dead horse and will turn our efforts to a Plan B".

[WheresWally/ScottMcGarvey]

Believe that they had to have a certain amount, to 'gain access' to the "data room". I suppose that if TB believed it was just half a dozen well intentioned fans, then he wouldn't have done. From what I understand, the trust has enough pledged to satisfy TB that it is serious, that there is a decent sum of money potentially available.

Interested on your take of it Sherl. I admit that I'm posting mine off v.shortly, but yes, part of that is out of blind love (!). But definitely, a step backwards should be taken, and if it is completely 'non-viable', then I suppose we have to kiss PFC (as we know it) goodbye. Then go for the CIC thing (although I've a feeling the deadline for that is VERY shortly - a 'continuing club' - but actually a new one formed in its place, but 'taking its place').

Failing that - then plan b).

But for £100 (and I have many questions too - but appreciate that maybe they're not in a position yet to be answered), I'm gonna risk it.

[Ronnie Pander]

A risk of only £2.50 seems worth taking. But being a bit more cynical I could imagine a very low percentage of people would stump up the rest of the cash when asked...