Fresh bidder for Portsmouth

A consortium featuring former Football League chairman Keith Harris has submitted an offer to buy Portsmouth.

Last Updated: 07/02/13 at 18:58 Post Comment

Portsmouth: Battle for club due to arrive back in High Court on 14 February

Portsmouth: Battle for club due to arrive back in High Court on 14 February

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Administrators PFK confirmed the new development a week before a High Court hearing due to determine whether the League One club can be sold to the Portsmouth Supporters' Trust.

The new consortium, fronted by Harris, investment banker Pascal Najadi and professional investor Alan Hitchins, says it is willing to offer the PST "a stakeholding and participation" if its bid is successful.

And Harris told Sky Sports News the "cash offer" - yet to be presented to the Football League - would leave the club debt-free and include the option to purchase Fratton Park from previous owners Portpin.

He said: "There would be neither legacy debt nor debt in our financing to acquire the club. It does not require a court hearing or anything else - it's straightforward, cash on the nail to buy the club.

"There will be no ongoing involvement by any previous owners. The transaction involves, initially, the leasing of Fratton Park but we've also entered into an agreement to acquire Fratton Park.

"That is our option, and the likelihood is it would be exercised at a very early stage."

The sale of Fratton Park, held as security by Portpin, has long been the major obstacle to the PST's proposed takeover.

Named as preferred bidder last year, the PST has been unable to agree a deal for the stadium and hopes the High Court hearing - three times adjourned already and now set for 14 February - will force Portpin to lower its asking price.

But the new offer has already been deemed "worthy of consideration" by PFK, and partner Trevor Birch said: "This offer could be completed without the need for a court case.

"We will need to discuss the terms of the deal with the PFA and the Football League and also plan to consult the creditors' committee as a matter of urgency. We will provide an update as soon as we have further news."

To find out more about live football on Sky Sports, Click here

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

t all started going downhill when they started putting a photo of the writer along side their story. Journalists started to think that 'they' are the story, rather than what they write. Smug, self obsessed & up their own arse's. That sums up the majority of newspaper sports reporters.

cozens
Do We Need So Much Football Media?

T

he reason so much sh*t is written about football is because there are so many people who want to read sh*t about football. Now shut up, take my money, and tell me Ronaldo is going to sign for Van Haal and that Mick McCarthy is signing Peter Crouch on loan.

hump3.
Do We Need So Much Football Media?

W

enger's delaying tactics in the transfer market creates goose pimples whenever a player is linked to Arsenal. The approach in buying players need to be changed@@#

mokaya
New striker 'on Wenger's list'

Footer 365

Louis Van Gaal vows to walk away in 2017

Manchester United manager Louis van Gaal is determined to win the Premier League in the next two seasons but will retire in 2017 regardless.

Sergio Romero signs for Manchester United on three-year deal

Manchester United have signed Argentina international goalkeeper Sergio Romero on a three-year contract.

Bastian Schweinsteiger fitness boost for Manchester United

Manchester United have been handed a lift on their pre-season tour with the sight of Bastian Schweinsteiger training again.

Mail Box

Only Arsenal Fans Care About Friendlies

We are not entirely surprised after Arsenal fans leapt to the defence of friendlies. We also have mails on Louis van Gaal, Liverpool and more mundane tales...

Friendlies: Still Completely Meaningless

There is sharp message for anyone thinking about getting excited about friendlies, plus worries about Wayne Rooney. Every one of you has met a bloody footballer...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company