Date:Friday February 8 2013
As quickly as Keith Harris' bid come in for Pompey it has been dismissed.
Nope, not dismissed by the administrators PKF but by the football league.
Having seen PKF confirm the Harris bid officially on Thursday morning, and welcome it, the football league refused to do so later in the day.
A statement was released by the football league that again stressed a failure for The PST to complete a takeover and exit admin by the end of the season would result in Pompey 'losing its membership of the football league.'
They felt that, having been given 'preferred status' bidding switching from The PST to someone else would create 'further uncertainty' and would not be in the best interest of the league, and the clubs in it.
Therefore a new bidder will not be entertained and it is Trust or bust, this statement read: 'The League had previously been informed by PKF that its preferred bid for the club was from the Pompey Supporters Trust (PST) and all parties have been focused on a successful transfer of share to that consortium.
'Given that the Football League's Insolvency Policy prohibits a club from beginning two consecutive seasons in administration, the board took the view that any change of preferred bidder at such a late stage would only create further uncertainty and was not in the wider interests of the League and its member clubs.
'Therefore, the League has informed the administrator that it will not currently consider transferring the club's share in The Football League to a new bidder.
'This means that in the event that the PST bid does not succeed and Portsmouth do not exit administration before the end of the current playing season, the club will lose its membership of The Football League.'
Previous has shown us what is said one week and what happens the next are not always the same thing, sometimes even on a daily basis, so 'will not currently consider transferring the clubs share' to A N other is the key thing.
Some question marks had been raised by Harris' bid, after some alarm bells were set off, so are the football league taking this into mind and protecting us?
Possibly so, although in terms of the bigger picture if there are any question marks about a link to a previous owner then there would be a pretty good chance a further spell in admin would be a potential outcome in the not too distant future with a similar track followed!
Probably the biggest alarm bell for me was the suggestion no court case was needed - that would have meant that the full asking price would have been 'paid' for Fratton or, as seemed more likely, Fratton would have been leased from Balram Chainrai - meaning he would have STILL been lurking in the background!
The PST remains positive that they are 'ready to go', can, and will, get this takeover done - another adjournment aside next week will give us a clearer indication if it really will be Trust or bust...
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Date:Friday February 8 2013
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