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(Conditional) Sale of Pompey to PST confirmed

(Conditional) Sale of Pompey to PST confirmed

As I am sure most are aware of now PKF have confirmed that the sale of Portsmouth Football Club to the PST has been agreed.

A sale agreement has been signed, although this is merely conditional at the moment.

The following statement was officially released on The Pompey Site this morning...

PKF Sign Conditional Agreement With PST

Trevor Birch, PKF partner and joint administrator of Portsmouth Football Club, has released the following statement:

"We can confirm that we have signed a sale agreement with the Pompey Supporters' Trust (PST) to acquire the business of Portsmouth Football Club.

"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 me in wishing to see a speedy resolution to 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.
"

Obviously it is not quite as easy as 'Balram Chainrai its over to you' but the next move that Balram Chainrai does or does not make will make a fair amount of difference...

The official launch of the PST prospectus will also come later today.

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Writer:pompeyrug
Date:Thursday November 15 2012
Time: 8:53AM

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