Fratton Park

Next Game

Portsmth v Carlisle

Saturday, 01 November 2014, 15:00

Sky Bet League 2

Last Game

Shrewsbury 2 - 1 Portsmth

Saturday, 25 October 2014, 15:00

Sky Bet League 2

Last hope for Portsmouth bid

Portsmouth have been warned by the Football League that they will lose their membership if the Pompey Supporters Trust's bid to buy the club fails.

Last Updated: 08/02/13 at 06:32 Post Comment

Portsmouth continue to face an agonising battle to survive

Portsmouth continue to face an agonising battle to survive

On Thursday afternoon, the club's administrators, PKF, said they had received a new offer to purchase the troubled club from former Football League chairman Keith Harris to rival the PST bid.

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

Despite the football financier wanting the fans' group to be involved in the proposed takeover, the Football League released a statement stating it will not consider any new offers after holding a meeting in London to discuss the plight of the south-coast club.

The statement read: "The League had previously been informed by PKF that its preferred bid for the club was from the Pompey Supporters Trust (PST) and all parties have been focused on a successful transfer of share to that consortium.

"Given that the Football League's Insolvency Policy prohibits a club from beginning two consecutive seasons in administration, the board took the view

that any change of preferred bidder at such a late stage would only create further uncertainty and was not in the wider interests of the League and its member clubs.

"Therefore, the League has informed the administrator that it will not currently consider transferring the club's share in The Football League to a new bidder.

"This means that in the event that the PST bid does not succeed and Portsmouth do not exit administration before the end of the current playing season, the club will lose its membership of The Football League."

The latest development comes a week before a High Court hearing is due to determine whether the League One club can be sold to the Portsmouth Supporters' Trust.

Earlier on Thursday, Harris told Sky Sports News the "cash offer" 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

Related News

Most Commented

Readers' Comments

H

e doesn't need a caoch. He needs a bus. A bloody big one, that he can park across the goal line. And when he gets one, he can do us a favour and let us know where we can buy one from as well.

HarryBoulton
Rodgers: No defence coach

Y

ou are wrong Per, thats the right way the play. Its everyone elses' fault that it doesnt work.

delboy
Mertesacker urges style change

A

s it's panto season coming soon, let me be the first Oh yes you do

munchie
Rodgers: No defence coach

Footer 365

La Liga: Carlo Ancelotti praises 'professional' Real Madrid after 3-1 Barcelona win

Carlo Ancelotti praised Real Madrid's "unique professionalism" after they came from a goal down to beat Barcelona.

Premier League: Mauricio Pochettino says Alan Pardew deserves more respect

Tottenham boss Mauricio Pochettino admits it is tough not to feel sorry for Newcastle counterpart Alan Pardew.

La Liga: Luis Enrique stands by Luis Suarez selection after Barcelona defeat

Luis Enrique defended his decision to start Luis Suarez against Real Madrid after his team slumped to a 3-1 defeat.

Mail Box

'Goals Like That Can Make You Pregnant'

Those being sniffy about Erik Lamela's rabona are given short shrift in the afternoon mailbox, where criticism of Brendan Rodgers is smashed out of the park...

Does David De Gea Need Competition?

It would certainly be a good idea to give Victor Valdes a contract, while we have more mails on Brendan Rodgers, Arsene Wenger, the rabona and mailbox gripes...

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