Joseph Cala, a little known Sicilian businessman who also has business interests in the United States, has emerged as the front runner to take over Portsmouth. He was introduced to the club by former owner Balram Chainrai.
Cala has said that he would invest £20m before floating the club on the New York stock exchange. The logic of this move is unclear as the recent trend has been for clubs to go private and it is unlikely that there would be much appetite for buying shares in a Championship football club in the United States.
Joseph Cala, a little known Sicilian businessman who also has business interests in the United States, has emerged as the front runner to take over Portsmouth. He was introduced to the club by former owner Balram Chainrai.
Cala has said that he would invest £20m before floating the club on the New York stock exchange. The logic of this move is unclear as the recent trend has been for clubs to go private and it is unlikely that there would be much appetite for buying shares in a Championship football club in the United States.
Cala once owned a football club in his own country for less than two weeks. He has been involved in schemes to build underwater hotels and casinos on boats but these were abandoned after they proved to be too expensive.
If Cala is successful, he will become the sixth owner of the club in less than three years. The reaction of Pompey fans has been lukewarm to say the least.