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

Dunga replaces Luiz Felipe Scolari as manager of Brazil after World Cup semi-final exit

Brazil have appointed Dunga as their new national team manager following the resignation of Luiz Felipe Scolari.

Transfer News: Stoke City sign Spanish striker Bojan Krkic from Barcelona

Stoke City have signed forward Bojan Krkic from Barcelona on a four-year deal for an undisclosed fee.

Transfer News: Real Madrid sign James Rodriguez from Monaco in £63million deal

Real Madrid have signed Colombian star James Rodriguez from Monaco in a £63million deal.

Mail Box

Anyone But Rooney. Or Baines. Or Hart.

There isn't a great deal of excitement in the Mailbox regarding England's potential new captain, but we have good stuff on Gerrard's development and a one club man team...

Goodbye Patrice And Farewell Steven...

Man United fans say a fond farewell to Patrice Evra in the mailbox while there are also thoughts on Steven Gerrard's retirement from England duty. Plus, some rare cricket bantz...

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