Portsmouth fans set to buy club
Thursday 15 November 2012
Portsmouth's administrators have signed a conditional agreement to sell the npower League One club to the Pompey Supporters' Trust.
Trevor Birch, of administrators PKF, confirmed today they have signed an agreement with the PST which is subject to receiving permission to sell Fratton Park.
The move comes after the administrators withdrew preferred bidder status from Portpin, the largest creditor in the Portsmouth Football Club (2010) administration, more than three weeks ago and named PST as the preferred bidders.
"We can confirm that we have signed a sale agreement with the PST to acquire the business of Portsmouth Football Club," Birch said in a statement.
"Portpin has rejected the Trust's offer for Fratton Park, so the sale has to be conditional on receiving the Court's permission to sell the ground. We are therefore in the process of submitting an application to the Court.
"I'm sure every member of staff, every player and every supporter will join with me in wishing to see a speedy resolution of what has been a protracted administration.
"Everyone involved in the transaction has worked incredibly hard to get the deal to this stage and, although there is still much that needs to be done, today's announcement marks what is hopefully the beginning of the end of the process."
Latest in Sport
Newcaslte vs Everton: Latest news and score plus the rest of today's Premier League action, including Manchester United and Chelsea reaction
Manchester United injury news: Angel Di Maria unlikely to face Spurs as Marouane Fellaini's 'mystery illness' turns out to be rib injury
Manchester City team news: Manuel Pellegrini hopes to have Vincent Kompany back for Burnley visit but hopes not to risk Stevan Jovetic
Arsenal transfer news: William Carvalho to be subject of £20m bid
Neil Warnock sacked: Tim Sherwood fits role for Crystal Palace
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 3 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
- 5 Game of Thrones is most-pirated TV show of 2014
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Millions of Britons struggling to feed themselves and facing malnourishment
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk