Date: 17th May 2009 at 8:27am
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According to The News of the World, with what they claim is an ‘exclusive’, Pompey will be sold ‘next month’, and when this happens – to an ‘American’ or ‘Far East’ bidder – Sacha Gaydamak will take a £30m loss?

Apparently Gaydamak paid Milan Mandaric £60m for the club, although, and the memory is a little hazy now, I thought it was £30m? Or was is £30m for a initial stake, then another £30m to buy him out… Anyway, like I say they say he paid £60m and then has invested a further £30m to take the overall investment to £90 – he will sell up for £60m?

This reports also ‘claims’ that Gaydamak will write off a £16m personal loan he is owed by the club along with £14m that he put into the club over the years – would he really do this? £30m is a hell of a lot to ‘write off’, we are not talking small money at all! New buyers would have to pay £60m though, £30m of which is to repay, or refinance the loan with the South African Bank, Standard Bank, with the other £30m to seize control from his Devondale Investments company…

Peter Storrie is quoted as saying, some of which is along the lines of what we have seen recently, that he ‘hopes’ the sale goes through by July: ‘that’s when the transfer window opens and that’s when we will need to know what money we have to prepare for next season So I am optimistic about the club’s future.

‘I have heard all the doom and gloom stories about us being loaded with a mountain of debt which will mean we have to have a fire-sale of players in the summer. But I am telling you that’s absolute rubbish.

‘Sasha has been very open and honest about this. He made it clear earlier in the season that he would not continue to invest in the club and that he wanted to sell.

‘And I can tell you he will lose a lot of money when he does complete the sale of the club – money that would make most people wince. But he is prepared to do that because he is so concerned about the long-term future of this club.

‘My role for most of the season has been trying to cut costs and I have managed to do that, from facing a £16m loss to a point where I believe we will now break even.

‘That is some achievement in itself and, obviously, makes Portsmouth a more attractive proposition to potential investors. The other advantage is that all the debt is the personal debt of the owner Sasha Gaydamak, not the club.

‘And Sasha is very generously and courageously dealing with that debt himself.’

Hmm, who knows what to think, as always I guess it is best to work on the ‘lets wait and see what happens’ principle.

But, with our premier league status confirmed for another year if anyone was going to buy us then there is not a better time than now! ‘If’ this is happening lets get this done before the transfer window opens and ‘hopefully’ this can mean those ‘top player departures’ that we expect do not actually have to take place…

All in all though, this ‘exclusive’ report in The News of the World – read it in full here – seems too positive for me, and that worries me – I do not like it when the papers are ‘nice’ to Pompey! Also, it seems to be littered with, how can I put it, what I see as ‘inaccuracies?’

PLAY UP POMPEY!

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