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
James Rodriguez to Real Madrid: Would Colombian star fit in with Cristiano Ronaldo and Gareth Bale?
William Carvalho to Arsenal? Gunners make new enquiry for £35m rated midfielder
Manchester United transfer news: More signings expected, indicates Ed Woodward
WWE Battleground 2014 results: John Cena and The Miz are the big winners on a night to forget in Tampa, Florida
Chelsea transfer news: Completed summer deals - including Diego Costa and Cesc Fabregas
- 1 Husband creates spreadsheet detailing wife's 'excuses' for turning down sex
- 2 Apple has installed security backdoors on 600m iPhones and iPads, claims security researcher
- 3 Saneie Masilela, 9, marries Helen Shabangu, 53 years his senior, for the second time
- 4 UK pirates will get four warning letters a year
- 5 Why I'm on the brink of burning my Israeli passport
Malaysia Airlines flight MH17 crash: 'Nine Britons, 23 Americans and 80 children' feared dead after Boeing passenger jet is 'shot down' near Ukraine-Russia border
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains