EPL Talk - Latest Comments in Portsmouth Turning Into A Farce Due To Financial Troubles

Re: Portsmouth Turning Into A Farce Due To Financial Troubles

lsmetana — Mon, 29 Sep 2008 10:59:26 -0000

This is the way the Prem is going. The prevailing logic is that you have to spend every cent you have just to keep up with debt-laden clubs like Man United, Liverpool and Chelsea. Yes, Chelsea's owner has deep pockets and can write off the debts but that's hardly a proper way to run a business. It's surprising how normally sharp business minds lose their way when they get involved in sport. I guess it's more about ego than financial success.

As for Pompey, they've splashed out some big transfer fees and likely some big wages to get Crouch, Defoe, etc. looks like it's catching up with them sooner than they might have expected.

Re: Portsmouth Turning Into A Farce Due To Financial Troubles

AtlantaPompey — Mon, 29 Sep 2008 08:04:55 -0000

Pompey does have financial issues, but they are no different than most clubs. They do not get the revenue from their stadium that most clubs get. They have greatly increased their player's wages in the last two seasons. Revenue staying the same while costs go up won't last long. Very little purchasing was done this summer, with those financial realities being the reason. The only major signing was Crouch. Most of the rest were loans. I don't see them adding anyone in January, with the possibility of off-loading one or two players, especially if they are already out of the UEFA Cup and the FA Cup.

Alexandre Gaydamak claims he owns the club, but where did he get his money? Probably from his dad. His father is running for Mayor of Jerusalem, and had to list his assets, which included Portsmouth FC. Not sure why he did that, except that maybe he believes he owns it.

The next couple of months will be interesting to watch. The stadium is on hold, which it has been for years. They have already started construction on the new training ground.

It's obvious that things are going on behind the scenes and have affected the club. At least that's my excuse for giving up 10 goals and looking very poor in doing it last week.

PLAY UP POMPEY!!!

Re: Portsmouth Turning Into A Farce Due To Financial Troubles

thegaffer — Sun, 28 Sep 2008 19:32:17 -0000

Patrick,

When I was growing up in the UK, the News Of The World was a joke. But most of the big scandals and storylines the past 12 months have been broken by the News Of The World. They're definitely a different paper than they used to be and have some great writers including Chris Bascombe.

Cheers,
The Gaffer

Re: Portsmouth Turning Into A Farce Due To Financial Troubles

Patrick — Sun, 28 Sep 2008 09:36:35 -0000

The other very real question is who actually owns Pompy. While Alexandre Gaydamak is listed with the FA. Most people believe that he is bankrolled by his dad, Arkadi Gaydamal.

Arkadi is wanted in France for gun running.

The joke of this all is the FA demand owners be "fit and proper persons". That didn't work out so well in Manchester City now did it. or some might even say at CFC.

As for the money crisis at Pompy, I have my doubts. First the investigation was done by News of the World. Do I really need to say anything at all about that paper. Second, this could well be a ploy by Gaydamek's to get the stadium built.
Or it could be that Gaydamek has simply grown bored of the Premier League...

I really think that the League needs to get a bit more teeth into the financial deals at clubs. Given the current state of the global economy, borrowing cash will be difficult, if not impossible. So we will see more foreign owners who are flush in cash.

and the crazy thing about the Gaydamek's is that to this day no one knows how he made million is Russia before moving to Israel. I think that's telling.