Pompey buy-out moves closer

Pompey Supporters' Trust are closing in on the purchase of Portsmouth, after exchanging contracts with administrators.

Last Updated: 08/03/13 at 16:26 Post Comment

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

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

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

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.


Click here for completely free £10 bet with Sky Bet & £5 free every week


Related News

Most Commented

Readers' Comments

T

heyremind me of Utd's treble winning side. Swashbuckling and risk prone. We ha Jaap Stam to paper over the cracks at the back though. Not sure they have their Jaap yet.

HarryBoulton
New Striker Not Liverpool's Priority...

A

lexis Sanchez; too good for Liverpool, Stevie. :)

pires
Suarez 'too good for Arsenal'

T

he solution is to not feel sorry for any of Jabba, Gold or Sullivan. They're all deeply unpleasant and all deserve each other. If only West Ham would sign Barton and Suarez then no one would ever need to despise any other club.

spuzzell
The Strange Idea Of Sympathy For Big Sam

Footer 365

Patrice Evra reveals he would have been Man Utd captain if he had stayed

Patrice Evra has revealed he would have been made captain if he had stayed at Manchester United.

Transfer news: Liverpool manager Brendan Rodgers targets further signings

Liverpool boss Brendan Rodgers is hoping to further strengthen his squad ahead of the transfer deadline on September 1.

Transfer news: Jose Mourinho confirms Fernando Torres will stay at Chelsea

Chelsea manager Jose Mourinho has told Sky Sports News Fernando Torres will not be sold during this transfer window.

Mail Box

Plenty Of Reasons Why Lukaku's Worth It

The mailbox defends Everton's enormous outlay on Romelu Lukaku, while we also have mails on Spurs and Suarez. Oh, and worrying about the new magic spray...

Sterling Stuff And Other Friendly Thoughts

We have one reader reaching conclusions from last night's friendly while we have others discussing Romelu Lukaku's move to Everton. Oh and some swearing...

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