Portsmouth hearing adjourned

A High Court case which could determine the future of Portsmouth has been adjourned until Friday.

Last Updated: 13/12/12 at 16:11 Post Comment

Fratton Park: High Court asked to rule on stadium's value

Fratton Park: High Court asked to rule on stadium's value

The League One club remains in administration while prospective new owners Portsmouth Supporters' Trust attempt to buy Fratton Park from former owners Portpin, who hold the stadium as security.

Portpin have refused a £2.75m offer, and administrators PKF hope the High Court will force through the sale by agreeing with their preferred bidders' valuation.

But PKF, who fear Portsmouth will be liquidated if the sale of Fratton Park does not go through, have now asked for a delay of 28 days while they "take stock and assess options."

And the presiding judge agreed to consider the request at 2pm on Friday, following an overnight adjournment.

Another administrator, Brendan Guilfoyle of P&A Partnership, says Portpin have promised to keep the club afloat until the end of the season if he is appointed to oversee a new bidding process.

Guilfoyle said: "Portpin don't feel the club has been fully marketed and they don't want it liquidated if it can't be sold to PST.

"They will fund the continuation of the club until the end of the season as long as the court involve me and I can be given an opportunity to find a new buyer.

"My involvement if there is any, will be a matter for the court, to give the court another option as Portpin feel the options presented, either a sale to PST or closure, need broadening."

Don't miss any live and exclusive football coverage this festive season. Click here to visit Sky Sports' Festive Calendar

Related News

Most Commented

Readers' Comments

H

e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

Synergy
Toure: I am staying with City

G

uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

ceeps
Toure: I am staying with City

D

amn you Yaya, don't scare me like that! I only ate the icing. I didn't eat the soft and scrumptious middle - I will buy you another cake!

MCFC87
Toure: I am staying with City

Footer 365

Premier League: Arsenal boss Arsene Wenger rues 'impossible' pre-season schedule

Arsenal manager Arsene Wenger has criticised his side’s hectic pre-season schedule as bordering on the impossible.

Transfer News: Hibernian capture young midfielder Scott Allan from West Brom

Hibernian have signed former Scotland Under-21 international Scott Allan from West Brom.

Transfer news: Arturo Vidal ‘not going to Manchester United’ as he waits on Juventus talks

Juventus midfielder Arturo Vidal has told the Italian press that he will not be going to Manchester United this summer.

Mail Box

Pre-Season Obviously Isn't Meaningless

The debate over the importance of pre-season continues, including a league table from last season for stats fans. Plus travelling to watch your team and Blackpool...

Definitely Not Getting Giddy Over A Friendly Win

We have some conclusions from Louis van Gaal's perfect start, plus a dismissal of fantasy football, worries about La Liga's greediness and thoughts on Real with Ham-ez...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property