Portpin suspend Pompey bid

Portpin has suspended its bid to buy Portsmouth and has warned there is a "very real risk" of the club being liquidated.

Last Updated: 09/11/12 at 13:04 Post Comment    Bet with SkyBet  Sky Bet League 1. Click here to bet.

Latest Articles

Van Dijk plays down move

Post comment

Virgil van Dijk claims he knows nothing of interest from English clubs and is keen to prove himself in the Champions League with Celtic.

Uncertain future for Tom Carroll

Post comment

QPR loanee Tom Carroll wants to "make it at Tottenham" but is prepared to consider all of his options at the end of the season.

All Articles

Portsmouth: Portpin claim there is '

Portsmouth: Portpin claim there is '

Portpin has suspended its bid to buy Portsmouth and has warned there is a "very real risk" of the npower League One club being liquidated unless there is a resolution soon.

The largest creditor in the Portsmouth Football Club (2010) administration have held discussions over a sale and purchase agreement with administrators PKF which it claims is "ready to complete within a matter of days".

Trevor Birch, of administrators PKF, withdrew preferred bidder status from Portpin three weeks ago and named the Portsmouth Supporters' Trust (PST) as the preferred bidders.

However, the PST has yet to finalise its business plan and bid documentation to be reviewed by the Football League, with Portpin subsequently feeling its attempts to pursue a bid are not now worthwhile.

Portpin chairman and Hong Kong-based businessman Balram Chainrai also feels the recent departure of manager Michael Appleton to Blackpool was down to the club's future still not being resolved.

He said in a statement: "I believe there is a very real risk Portsmouth Football Club will end up being liquidated despite our best efforts to proceed, which are being knocked back at every turn by PKF.

"Sadly we feel the administrators are deliberately driving events in this direction so until there is a clear resolution from the Football League regarding the PST bid, we have no option other than to suspend our offer.

"We are in a position to pay football creditors in full, provide the financial guarantees and a multi-million pound funding facility as required by the Football League through to June 2016, and could complete the purchase of the club in the next few days.

"But none of this can happen until there is a clear decision from the Football League on whether or not to approve the PST bid."

Administrators PKF declined to comment when contacted by Press Association Sport.


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


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

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.

Footer 365

Champions League: Eden Hazard is in a race against time to be fit to face Atletico Madrid

Eden Hazard will need to return to full training quickly if he is to be considered for Tuesday's Champions League match.

Primera Liga: Leaders Atletico Madrid pull six points clear after 2-0 win over Elche

Joao Miranda and Diego Costa scored as Primera Liga leaders Atletico Madrid beat Elche 2-0 to pull six points clear.

Yaya Toure feels he does not get the respect he deserves because he is from Africa

Manchester City midfielder Yaya Toure feels he does not get the respect he deserves because he is from Africa.

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