Just a few days ago Portsmouth FC, like Henry VIII’s Mary Rose, seemed to be sinking beneath the waves. But now the club is more akin to Nelson’s flagship, the Victory: an icon for resolve in a proud city. And Pompey expects every fan to do his duty.
Football clubs around the globe should be inspired and motivated by Portsmouth’s bold adoption of fan-ownership as their new business model. For decades, it was considered unworkable and near-impossible for supporters to take control of their clubs. Only sides replacing their deceased predecessors – teams starting again in the misery of non-league – were given any hope or chance. The thoughts of fans in boardrooms and owners in the stands were ridiculed.
But this afternoon a deal was finalised that will see Portsmouth Football Club become the biggest English fan-owned project in history. It was announced in the High Court that an agreement has been reached which allows the Pompey Supporters’ Trust to buy Fratton Park.
Players, fans and even politicians took to Twitter to declare their delight at the news, and there were tears of joy inside and outside the court as the deal was reached.
That’s it. Deal’s done. Papers have been signed finally. Pompey will become the biggest community owned club in history! #PLAYUPPOMPEY!!!!
— Emma Judd (@pn_Emma_Judd) April 10, 2013
In recent years, financial chaos saw the south-coast club spiral into the abyss, and come August Portsmouth will be playing fourth-tier football, just five years after winning the FA Cup and representing England in Europe. But one thing will be noticeably different: the club will be managed in a similar way to the likes of Barcelona, Real Madrid and a large majority of Bundesliga sides. It means that, like all fan-owned clubs, supporters will be at the forefront of boardroom decisions.
Only two years ago the single supporter-owned club in the English Football League was Exeter City, but the last year has seen that number triple – AFC Wimbledon and Wycombe Wanderers join the group, and Wrexham are in with a shot at securing promotion from the Blue Square Bet Premier this season. Perceived failures of fan-ownership at clubs such as York City have not helped warm people to the concept, although Supporters Direct spokesman Kevin Rye sees those ownerships as successes: “These were in fact outstanding successes for the fans in not just keeping them alive, but ensuring that they could have futures beyond the daily grind of just survival. The only failure was of football regulation to address the impact of an un-level playing field created by unsustainable spending, and our job still hasn’t finished,” he said.
And the overwhelming majority of those associated with Portsmouth have welcomed the Trust’s involvement with open arms. Administrator Trevor Birch said the deal will enable the new owners to “begin the urgent task of rebuilding the club.”
Chairman of the Pompey Supporters’ Trust, Ashley Brown, told of the “historic day” for supporters: “At last, the tough work done over the last year is over and we can start to rebuild our club. For now, we would like to offer heartfelt thanks to Pompey fans all over the world who have pledged money and have saved our club from liquidation. Now the next chapter of hard work begins to transform our club into something the community of Portsmouth can be proud of – both on and off the field. Play up Pompey.”
And Trust members said a club takeover by supporters was “ground-breaking” and bigger news for fans than, for example, an FA Cup win.
The new era should bring what Portsmouth have been lacking in the past decade: financial security. Whilst there certainly won’t be millions to play with, at least the new setup minimises the risk of any monetary disaster. Portsmouth will no doubt look at Exeter City as a financial template. In 2011, Exeter finished their League One campaign in 8th position after two successive promotions from the Conference with the supporter-owned model, and are profitable.
The German ’50+1′ model should also be admired: it ensures club members have to retain a majority stake in their club, so investors are not permitted to own over 49% of any side. Bundesliga clubs have very little debt and their average attendance of around 50,000 are the highest in world football, and second highest of any sport.
The dream came true! Well done to everyone for the hard work and effort to make it possible. Pompey is Reborn!! Enjoy the moment! #pup
— Ricardo Rocha (@R3Rocha) April 10, 2013
A party is set to be held tomorrow from midday at Fratton Park.
Nice article. The metaphors are apt but please look up the spelling of the Admiral: He only won one of the most famous naval battles in British history.
Oops, thanks for that. Sorted.