Portsmouth fans group names as preferred bidder for beleaguered club
Thursday 18 October 2012
Portsmouth's administrators have nominated Portsmouth Supporters Trust (PST) as their preferred bidder to take over the npower League One club.
Administrators PKF have been seeking a new buyer for the club since it was placed under its control in February with debts of £61million.
Trevor Birch, PKF partner and joint administrator of Portsmouth, said in a statement released to Press Association Sport: "After extensive discussions over the past few weeks, we have today nominated Portsmouth Supporters Trust as the preferred bidder for Portsmouth football club.
"We will be working with the Trust, the Football League and the Professional Footballers' Association to conclude the sale of the club as soon as possible."
PST's emergence as the favoured bidder appears to rule out Balram Chainrai's claims that his company, Portpin, will be the club's new owners.
The Hong Kong-based businessman spoke out last week to deny claims that the Football League had expressed concerns over his suitability.
He said in a statement: "Our discussions with the Football League have been positive and are progressing.
"As far as we are aware we have satisfied the majority of the criteria and we expect now to work through the last remaining points with the Football League in the coming days.
"We are very confident that we are in a position to complete the acquisition of Portsmouth Football club in the near future."
Chainrai was at the helm when Pompey went into administration in 2010 and it is thought he could have been involved when they were placed back in administration eight months ago.
The rules of the Owners and Directors test stipulates that a person who has twice been involved with a club going into administration cannot become an owner or director.
Despite the PST's new position as the administrators' preferred bidder, it is likely Chainrai will contest any takeover as he is owed £18million by the south coast club and holds Fratton Park as security.
Latest in Sport
Morgan Schneiderlin to Manchester United: Saints yet to receive 'serious offer' but midfielder could complete move by end of this week
Sergio Ramos to Manchester United: Real Madrid defender 'wants' Old Trafford switch
Radamel Falcao to Chelsea: Former Manchester United striker 'signs contract' to join Blues and is told to meet up with squad on pre-season tour
Venezuelan TV host gets completely naked while reporting on Copa America win over Colombia
Manchester United transfer news: Javier Hernandez nears exit as Liverpool eye move for striker despite revealing Real Madrid video
- 1 Kim Jong-un shows off airport designed by architect he likely had executed
- 2 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
- 3 Why it matters 26 million people have changed their Facebook profile picture to a rainbow flag
- 4 German ethics council calls for incest between siblings to be legalised by Government
- 5 Fifty Shades of Grey author E.L James's Twitter Q&A didn't go exactly as planned
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
David Cameron struck double blow in his hopes to win Britain a new EU deal
Extend Right To Buy to tenants of private landlords, Labour's Jeremy Corbyn says
Pentagon accuses Russia of 'playing with fire' over nuclear threats towards Nato