Portsmouth deal completed

Portsmouth have come out of administration and are now officially owned by the Pompey Supporters' Trust, it has been confirmed.

Last Updated: 20/04/13 at 13:53 Post Comment    Bet with SkyBet  Sky Bet League 1. Click here to bet.

Fratton Park: Deal completed as Portsmouth come out of administration

Fratton Park: Deal completed as Portsmouth come out of administration

World Cup 2014

Check out the latest outright odds on next summer's World Cup in Brazil

An out-of-court settlement between the former owners and administrators for ownership of Fratton Park meant the takeover was completed on Friday.

The 2008 FA Cup winners, who saw their relegation to League Two confirmed on Tuesday, have been close to liquidation over the past 14 months, having been in administration since February 2012.

While potential buyers included former owner Sulaiman Al Fahim, as well as former Watford owner Laurence Bassini, the bid from the supporter-led consortium - backed by wealthy investors - was maintained.

A total of nearly £3m was raised, with fans pledging £1,000 to be part of the Trust, which was added to by a £1.45m bridging loan, as well as investment from their property partner Stuart Robinson.

Trevor Birch, joint administrator of Portsmouth, said: "We have cleared the final hurdle: all of the paperwork has now been signed and the sale concluded.

"It has taken more than 14 months of hard work from all concerned to get here and there were many times over that period when I didn't think we would make it; but we have, and Portsmouth Football Club can once again look forward to the future with optimism.

"The PST has shown what can be achieved when fans unite together for the good of their community. The club has been through considerable turmoil over the last few years, and I hope it can now enjoy a period of stability and the chance to build solid foundations for a sustainable future based on hard work and honest endeavour."

Ashley Brown, Chairman of the Pompey Supporters' Trust, said: "What a momentous day! Once again Pompey fans have shown why they are some of the best in the land, we now have a club owned by people who truly love it, its fans. That's how football is supposed to be."

Iain McInnes, Chairman of Portsmouth Community Football Club, said: "It has been a very difficult journey to get to this point but in the end we have achieved the right result.

"Now is the time for Pompey fans to get behind the club and we are looking forward to celebrating becoming a community club at Fratton Park this Saturday afternoon."

Bet with SkyBet  Sky Bet League 1. Click here to bet.

World Cup 2014

Check out the latest outright odds on next summer's World Cup in Brazil

Related News

Sky Bet

    • Retrieving latest Sky Bet odds

Most Commented

Readers' Comments

I

may well get slated by other United fans for this, but out of the three contenders, I'd far prefer Liverpool to win the title. Yes some elements of their fanbase can be a bit OTT, yes they're our biggest rivals and yes it will make our poor season feel even more like the end of an era (Fergie's gone, Liverpool are back on top). However I just have to applaud Brendan Rodgers and the way he's turned Liverpool around in just a couple of seasons. It...

Mike_Christie
Please Stop Telling Us What To Think

H

ooray! We are all excited now, we beat a very mediocre team! With all due respect to WHU supporters, not winning that game shouldn't even be a consideration. This is the problem, there is no winning mentality at the Emirates - we're all congratulating ourselves beating a team that we have a winning record against.

TheWhiz
Wenger hails important win

I

s this meant to be an aspiration for United supporters? Moyes mediocrity strikes again. I see the Bayern boys don't want to sign for him, and his reputation amongst the senior European coaches make other key signings unlikely.

redbornandbred
De Gea's Europa League target

Footer 365

Premier League: Steven Gerrard hopes 'phenomenal' Brendan Rodgers enjoys long Liverpool reign

Captain Steven Gerrard has hailed Brendan Rodgers as "phenomenal" and hopes the manager can build a legacy at Liverpool.

World Cup 2014: Jack Wilshere in good shape for England, says Arsenal boss Arsene Wenger

Arsenal boss Arsene Wenger is confident England midfielder Jack Wilshere will be in good shape for the World Cup.

Premier League: Chelsea's Jose Mourinho 'congratulates' officials after loss to Sunderland

Chelsea boss Jose Mourinho fired a thinly-veiled criticism at the officials after the 2-1 home defeat to Sunderland.

Mail Box

Kieran's Not The Only One Keeping Notes

Another chap in the mailbox has been keeping notes on comments made by optimistic Man United fans. Plus, Garey Vance is offering a double-or-quits on his new tattoo...

Mignolet Is The Reason For Liverpool Flying

Mignolet's bad kicking is the reason for Liverpool's success, whilst one man keep notes on F365 mails. Plus England excitement, Arteta and a bad Walsall experience...

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