Date: 24th February 2009 at 8:47am
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According to ‘reports’ late on Monday in The Telegraph, and then The Times, an official approach for ownership of Pompey has been made by Ramon Vega, or at least his group, but this offer was rejected by Sacha Gaydamak.

It is said that the offer made was deemed as ‘unaccepted’ by the current Pompey owner with the Swiss front man of the group told that he has ‘7 days to come up with a new bid’…

Quite how much Sacha is holding out for is something that only he knows, some ‘reports’ have said that he wants around £40m-£50m – so basically his money back – whereas other ‘reports’ have suggested that his desire to hand over the reigns to someone that can take us to the next level would see us sold ‘cheaply’. I am not so sure about that, even if he really has ‘fallen in love with the club’, as is the suggestion or the general belief, he is a businessman at the end of the day and will not take a massive loss will he!

Our debts and the day to day running costs of the club, which eat up so much of the clubs income, are also thought to be proving a stumbling block – again, quite how much these debts are is not known but it is said they are around the £40m mark, so if that were the case this group is looking at something around the £80m-£100m mark before any financial input into the club can be made, and this would be substantial to fund the proposed training ground and stadium – surely both projects that ‘must’ happen under new ownership? Without these areas happening there is never going to be a return on any investment – the training ground and stadium have become almost ‘must haves’ or we are highly unlikely to evolve as a club…

It is also said that Vega is refusing to make proof of his apparent finances that he has available actually available to Sacha, which must be something that is needed? With it also the belief that the former Spurs defender feels his group should be able to pay less for the club as they are taking on its debts, either way it is said that he ‘remains confident’ of gaining control of the club.

So, assuming that an official bid has actually been made for it to have been refused then by the end of this week/early in the next if the ‘7 days to improve an offer’ stance is true, we will know if this deal is a ‘deal or no deal’ pretty soon!

I feel that the months ahead, not just on the pitch, are critical to Pompey’s future. We cannot sell to just anyone, we must get this right and its almost a must that they can fund the training ground and stadium, but ‘if’ we cannot sell by the time pre-season is back in full swing then it is almost certain, dare I even say inevitable that further departures ‘will’ happen – even when, not if, we stay up – and I am not trying to be a doom monger or pessimist, just what I think is a realist…


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