PST Shareholders and Members Survey Results

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Selsey Bill
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PST Shareholders and Members Survey Results

Post by Selsey Bill »

In response to Portsmouth Community Football Club entering into a 70-day period of exclusivity with Michael Eisner's Tornante Investment Group, the Pompey Supporters Trust invited our shareholders and members to complete a survey covering any hopes, concerns, and opinions that they had in relation to a possible change of ownership.

The PST used this purely as a consultation exercise, during a period when those involved in negotiations needed to be sure they were representing our members correctly. Due to the confidentiality agreements that were in place, we were unable to disclose any detailed information about the potential bid.

We received a fantastic response to the survey, with well over 2,000 people responding during a week-long period. Shareholders and members were generally positive about the takeover opportunity, with 64% initially feeling positive about Mr Eisner’s interest, rising to 74% the more they heard about his intentions.

The survey showed that worthwhile supporter representation is something that our members strongly favour. 86% believe it is important that the PST retains a share of ownership, 94% feel it is important for the PST to retain at least one seat on the club board, and 95% would like to see a supporter consultation group.

Taking our history into account, it was no surprise that protection of our colours, name and crest, the financing of the possible takeover, and nature of future investment, as well as intentions for the future of Fratton Park, were all subjects that our members wanted more information about before they could decide whether they were in favour of a sale.

As part of ongoing negotiations, we have made it clear to Mr Eisner what issues are important to shareholders and members of the PST. Given that we represent the largest share in the club, we would hope to see our members’ views on supporter ownership and involvement, and protection of the club’s heritage, reflected in any bid. Ultimately, it will be our shareholders and members who will vote to decide whether this, or any other bid for the club, is successful.

The PST board would like to take this opportunity to thank everybody who took part in the survey, and for taking the time to provide us with such valuable insight.
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Re: PST Shareholders and Members Survey Results

Post by No Shot Sherlock »

Seems a bit of a contradiction that 64 - 74% feel generally positive about ME's intentions when when 86% want the the PST to retain a share and 94% want fan representation on the board :?
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Re: PST Shareholders and Members Survey Results

Post by Pompski! »

Not necessarily NSS,
Retention of a PST member on the board is essential IMHO, even if we get the perfect owner in place.
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Re: PST Shareholders and Members Survey Results

Post by Locky_McLockface »

Pompski! wrote:Not necessarily NSS,
Retention of a PST member on the board is essential IMHO, even if we get the perfect owner in place.
I agree completely with both points. Having read the interview with Eisner in the Snooze, it appears that Trust membership on the board isn't on the table, although there is the offer of this "Heritage Board" which has the power to veto certain things, like name changes, colour changes, and moving Fratton Park more than 15 miles from the city centre.

On that last point, 14 miles would get you to places like Whiteley. Whilst I appreciate that FP needs a massive modernisation in order to generate greater income (corporate boxes and the like), and I can see that it might be better to build a new stadium elsewhere, I would not be happy to see us play home games that far away from Portsmouth. Port Solent, yes. Whiteley, no.
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Re: PST Shareholders and Members Survey Results

Post by RubiconCSL »

This map shows how far 15 miles can go from FP.
FP_15MileRadius.jpg
I would definitely be concerned with a new stadium location if it was 15 miles West! Whether being closer to the M3 would be better for getting punters in or not, that would rip the soul out of the club. In fact even as far as Fareham would be too far for me. I do hope conditions (that can't be broken) are put in place to prevent an MK Dons scenario.
Locky_McLockface wrote:
Pompski! wrote:Not necessarily NSS,
Retention of a PST member on the board is essential IMHO, even if we get the perfect owner in place.
I agree completely with both points. Having read the interview with Eisner in the Snooze, it appears that Trust membership on the board isn't on the table, although there is the offer of this "Heritage Board" which has the power to veto certain things, like name changes, colour changes, and moving Fratton Park more than 15 miles from the city centre.

On that last point, 14 miles would get you to places like Whiteley. Whilst I appreciate that FP needs a massive modernisation in order to generate greater income (corporate boxes and the like), and I can see that it might be better to build a new stadium elsewhere, I would not be happy to see us play home games that far away from Portsmouth. Port Solent, yes. Whiteley, no.
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Re: PST Shareholders and Members Survey Results

Post by RubiconCSL »

In fact, half that looks more than enough. This shows 7.5 miles and 15 miles. Mind you Selsey might be happy if they moved it there :)
FP_15m_7.5m_Radius.jpg
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Re: PST Shareholders and Members Survey Results

Post by Lost in Transportation »

RubiconCSL wrote:In fact, half that looks more than enough. This shows 7.5 miles and 15 miles. Mind you Selsey might be happy if they moved it there :)
FP_15m_7.5m_Radius.jpg
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Re: PST Shareholders and Members Survey Results

Post by Locky_McLockface »

RubiconCSL wrote:In fact, half that looks more than enough. This shows 7.5 miles and 15 miles. Mind you Selsey might be happy if they moved it there :)
FP_15m_7.5m_Radius.jpg
The interview stated 15 miles from the City Centre, not from Fratton Park.

If you move that circle, so it's centred on, the Guildhall for instance, Mr Eisner could actually move Fratton Park to St Mary's Stadium. :shock:

In all seriousness, 5 miles would be more than adequate.
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Re: PST Shareholders and Members Survey Results

Post by Berkshire Blue »

We either decline to sell and keep control or we sell and give up any semblance of controlling our own destiny, (except perhaps what colour shirts we wear).

It is up to each shareholder to decide how to vote, but please, please do not sleepwalk into a sale believing that you are not putting our future fairly and squarely in the hands of others. As successful and experienced entrepreneurs, their main motivation will be a profitable investment, which is fair enough. It is possible that we fans may also gain from the deal over the coming years, but we will almost certainly have no meaningful say in the matter.

People talk about a seat on the board as if it is some kind of panacea, but it is my experience that a single seat on the board without a major shareholding is next to worthless.

Like any deal, there are possible upsides and possible downsides. I look forward to reading the offer document in due course. It will have to be very persuasive for me to vote to give up control of our destiny.

Sorry for the rant.

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Re: PST Shareholders and Members Survey Results

Post by No Shot Sherlock »

Berkshire Blue wrote:We either decline to sell and keep control or we sell and give up any semblance of controlling our own destiny, (except perhaps what colour shirts we wear).

It is up to each shareholder to decide how to vote, but please, please do not sleepwalk into a sale believing that you are not putting our future fairly and squarely in the hands of others. As successful and experienced entrepreneurs, their main motivation will be a profitable investment, which is fair enough. It is possible that we fans may also gain from the deal over the coming years, but we will almost certainly have no meaningful say in the matter.

People talk about a seat on the board as if it is some kind of panacea, but it is my experience that a single seat on the board without a major shareholding is next to worthless.

Like any deal, there are possible upsides and possible downsides. I look forward to reading the offer document in due course. It will have to be very persuasive for me to vote to give up control of our destiny.

Sorry for the rant.

PUP
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Re: PST Shareholders and Members Survey Results

Post by <dj.> »

No Shot Sherlock wrote:
Berkshire Blue wrote:We either decline to sell and keep control or we sell and give up any semblance of controlling our own destiny, (except perhaps what colour shirts we wear).

It is up to each shareholder to decide how to vote, but please, please do not sleepwalk into a sale believing that you are not putting our future fairly and squarely in the hands of others. As successful and experienced entrepreneurs, their main motivation will be a profitable investment, which is fair enough. It is possible that we fans may also gain from the deal over the coming years, but we will almost certainly have no meaningful say in the matter.

People talk about a seat on the board as if it is some kind of panacea, but it is my experience that a single seat on the board without a major shareholding is next to worthless.

Like any deal, there are possible upsides and possible downsides. I look forward to reading the offer document in due course. It will have to be very persuasive for me to vote to give up control of our destiny.

Sorry for the rant.

PUP
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Re: PST Shareholders and Members Survey Results

Post by Milton End »

Berkshire Blue wrote:We either decline to sell and keep control or we sell and give up any semblance of controlling our own destiny, (except perhaps what colour shirts we wear).

It is up to each shareholder to decide how to vote, but please, please do not sleepwalk into a sale believing that you are not putting our future fairly and squarely in the hands of others. As successful and experienced entrepreneurs, their main motivation will be a profitable investment, which is fair enough. It is possible that we fans may also gain from the deal over the coming years, but we will almost certainly have no meaningful say in the matter.

People talk about a seat on the board as if it is some kind of panacea, but it is my experience that a single seat on the board without a major shareholding is next to worthless.

Like any deal, there are possible upsides and possible downsides. I look forward to reading the offer document in due course. It will have to be very persuasive for me to vote to give up control of our destiny.

Sorry for the rant.

PUP
You are absolutely right about having a seat on the board: it will be worthless without a significant shareholding. However, in fairness to Mr Eisner, he has said that there will be also be a Legacy board that will have a VETO on certain items: club colours, etc. It will be important to see the detail of these - as you say.

I suspect that the 15 mile radius is negotiable. This can easily be reduced if fans want this.

May I suggest that there is a more fundamental area that needs careful scrutiny: what happens when Mr Eisner and his family decide that they have had enough of PFC? Or, equally, want to take a profit or, more likely, reduce their losses?


From what Mr Eisner has already said, he plans to invest £14-16 million in the club (according to LiT recently). Initially, this will be spent on renovating Fratton Park, not a new stadium - say, taking the capacity to 24,000 with improved catering facilities.

He will probably also invest some money in the team - say we get promoted to the Championship around 2020.

But what happens after, say, two to four years in the Championship?

We're bidding for the Premiership. A new stadium is mooted on the M275 junction and along comes an Asian multi-millionaire claiming to have bucket loads of money - totally tempted by driving PFC into the Premiership?

Mr Eisner and his family are really interested.

Does the Legacy Board have veto on this Eisner share sale? Or is it only the club colours and new stadium location? Does the Asian owner have a middle name of Gaydamak by any chance?

Don't get me wrong: I am keen to see us compete in the Championship at least. And to sort out the disgraceful lack of investment in Fratton Park over the years.

But once bitten, twice shy..................

Please let us look very carefully at the details of Mr Eisner's offer before making a decision.
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