Pompey buy-out moves closer

The Pompey Supporters' Trust are closing in on the purchase of Portsmouth, after exchanging contracts with the League One club's administrators PKF.

Last Updated: 08/03/13 at 18:14 Post Comment

Fratton Park: Takeover hinges on the sale of Pompey's ground

Fratton Park: Takeover hinges on the sale of Pompey's ground

World Cup Promotions

Daily World Cup Promotions, sign up for a free £50 matched bet

The deal now hinges on a court case next month at which PKF will attempt to gain permission to sell Fratton Park, which is controlled by former owner Balram Chainrai, to the fans' group.

Trust chairman Ashley Brown said: 'We are delighted to announce that, on Thursday afternoon, we exchanged contracts with PKF for the acquisition of PFC.

"We must now focus on securing the release of the charge on Fratton Park, which in turn will trigger the completion of the deal.

"We are on the verge of creating football history. Several thousand fans are already part of that and we urge others to now join us, so that they too will own a part of their club.

"We are confident of success in the court but we would still welcome the opportunity to settle quickly and allow us to start the job of rebuilding the club, with the community and supporters at its heart."

One of the individual investors, Iain McInnes, will become chairman if the deal goes through, and he said: "If you believe it, you can achieve it.

"I'm proud to be part of a group of people who have collectively pulled together to get us this far. Finally the fans can see the end of what's been a very long and challenging haul.

"We will not be counting any chickens just yet, particularly as there's due process to go through. However, I believe that, if a bid is to be judged on its merits, then there can be only one outcome. So let's get on and get this done."

The Trust have raised around £2m through a share issue and are confident that more fans will now join their share scheme.

Pompey have been in administration for over a year and will be deducted 10 points when they emerge. The club are currently bottom of League One but won their first match in 24 attempts against Crewe last week.

A rival consortium had made a formal offer to buy Fratton Park last week. The £6.3m bid from Keith Harris's group was double the offer from the PST.

Football365 Facebook Fan Page

The Football365 fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Most Commented

Readers' Comments

B

rilliant article. Anything that makes a man of Scolari's age wear a cap with a hashtag on it will surely precede a disaster

westwoodbo
Brazil Team Over-Subscribed To Idea Of Neymar As Deity

R

ather than Sanchez nearly done could you provide the completion status please? Maybe today Sanchez deal 72% done and then tomorrow Sanchez deal 74.3% done , leading up to 100% on the evening of the transfer window close day. Thank you.

CamberleyGooner
The Autopilot Gossip

L

ast five Arsenal captains: Gallas, Fabregas, Van Persie, Vermaelen, Arteta. Talk about a poisoned chalice...

juan de gunnaz
The Sluggish Gossip

Footer 365

FIFA rejects Luis Suarez appeal against ban for biting Giorgio Chiellini

FIFA has rejected an appeal from Luis Suarez against his four-month worldwide ban for biting Giorgio Chiellini.

Liverpool and England forward Raheem Sterling to learn from first World Cup

Liverpool forward Raheem Sterling has pledged to learn from his first World Cup experience with England.

World Cup: Louis van Gaal says two Netherlands players refused to take first penalty against Argentina

Netherlands boss Louis van Gaal claims none of his players wanted to take the first penalty against Argentina.

Mail Box

Mails: It's Not Entertainment, It's Sport...

When did we start getting the idea that football was an entertainment business? It's about winning and winning alone. We also have some defences of Louis van Gaal...

Do England Need Scholes, Lineker Etc?

They've all got ideas about where things are going wrong, so why don't they step up and help? Plus, we have lots of fall-out from the dullness of Holland v Argentina...

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