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BDO finalises Portsmouth FC deal

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22nd Apr 2013
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Administrators at BDO have finally completed the sale of Portsmouth Football Club to the Pompey Supporters Trust (PST) following months of uncertainty.

The south-coast club, which went into administration in February last year for the second time in so many years, reached an agreement with former owner Portpin just moments before the two sides were due to meet in court over the price of the Fratton Park ground. The PST said Fratton Park was worth about £2.75m, while Portpin claimed its value was more in the £8-11m region.

Trevor Birch, joint administrator of Portsmouth Football Club (2010) Ltd and a partner at BDO, said: “We have cleared the final hurdle: all of the paperwork has now been signed and the sale concluded. It has taken more than 14 months of hard work from all concerned to get here and there were many times over that period when I didn’t think we would make it; but we have, and Portsmouth Football Club can once again look forward to the future with optimism.

“The PST has shown what can be achieved when fans unite together for the good of their community. The club has been through considerable turmoil over the last few years, and I hope it can now enjoy a period of stability and the chance to build solid foundations for a sustainable future based on hard work and honest endeavour.”

Ashley Brown, chairman of the PST, added: “What a momentous day. Once again Pompey fans have shown why they are some of the best in the land, we now have a club owned by people who truly love it, its fans. That’s how football is supposed to be.”

In August it was announced that potential buyer Balram Chainrai had pulled out of a deal to rescue the club following the release of all senior players at the club and confrontations of over unpaid player wages.

The original Portsmouth Football Club, remains in administration and will be liquidated shortly, including the transfer of assets to new entity Portsmouth Community Football Club.

The new club will be officially launched this week along with the unveiling of the club’s new management team.

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By carnmores
22nd Apr 2013 15:09

Up Pompey

unfortunately they are going down

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