Day: October 19, 2012

Who Values Pompey?

The battle for the soul of football took one step in the right direction yesterday. The nomination of Pompey Supporters Trust as the preferred bidder for the club is a stunning volte-face in the negotiations to bring the club out of administration. It appears to have been done in the teeth of a vigorous campaign by three-time previous owner Portpin to gain control of the club for a fourth time. Portpin’s directors, Balram Chainrai and Levi Kushnir have been involved in the causes behind both of Pompey’s administrations in the last three years. They are seeking a fourth term of ownership in order to protect their financial involvement in the club. The Supporters Trust have put together a community bid based on community shares and the involvement of local businessmen and wealthy Pompey fans. In the biggest fan community-based bid in the history of the Trust movement, the Trust have matched Portpin in every respect except one, the valuation of Fratton Park as an asset of the club. Despite the preferred bidder status conferred on the Trust by the administrators, Portpin do not appear to be ready to concede gracefully. But then, there has been nothing graceful about their campaign preceding this announcement either. There really could be no more diametrically opposed opponents in the battle for ownership. Value, values and valuation have truly been the weapons of choice....

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Truro City FC Takes Its Final Steps Towards The Gallows

They were the trailblazers, the team from the wilds of Cornwall who could afford to fly to games and who rose quickly from nowhere with ambitions of flying straight up to the Football League. But Truro City wanted too much, too soon and found that ambition without solid financial foundations burns far more quickly than the sun. Today, however, a club with 123 years of history was expelled from the Football Conference, and is now set to plummet down through the leagues with the only thinnest parachutes to catch them. Like their dysfunctional cousin Kettering Town, also about to finally lose grip on the window sill and join the fall, Truro are victims of abuse, financial mismanagement, broken promises and warped logic from so-called businessmen who lost sight of the words ‘Football Club’ at the end of the team’s name. Last Thursday, as storms lashed the south-western peninsular, swirling winds carried mixed messages from Cornwall and from the Conference to Twitter. First the club were saved, the bond required to show they might be able to continue had been paid. Next the bond had been paid but the cheque hadn’t cleared. Hopes were raised and spirits soared, only for the winds to drop and send them falling once again as news of the failure of the administrators attempts to pacify the Football Conference became apparent. By 8pm BBC Cornwall and the...

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