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

Latest Articles

Burton have signed Crystal Palace defender Jerome Binnom-Williams on loan

Post comment

Burton have signed Crystal Palace defender Jerome Binnom-Williams on loan.

David Dunn has completed a move to Oldham

Post comment

David Dunn has completed a move to Oldham and is hoping his experience can help the League One club.

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


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

Digne agent denies Liverpool talks

Lucas Digne's agent has denied reports he has held talks with Liverpool regarding a move to Anfield for the Paris Saint-Germain left-back.

Mourinho scuppered Reds' Costa move

A new biography has revealed how Jose Mourinho scuppered Liverpool's bid to sign Diego Costa - a year before he arrived in west London.

Ramos 'extends' Real Madrid contract

Manchester United's pursuit of Sergio Ramos is over after the centre-back agreed a new contract extension at Real Madrid.

Mail Box

Getting Tired Of De Gea's Disrespect

One Manchester United fan is growing weary of David de Gea's disrespect. Plus thoughts on Southampton's summer, Balotelli loan, and Depay in the centre. Why?

Mails: This Is My Perfect Moment

Lots of Mailboxers channel their inner Martine McCutcheon to bring you their perfect footballing moments. Plus thoughts on Blatter, names, and Chelsea worries...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company