Portsmouth Supporters’ Trust (PST) are one step closer to taking control at Pompey. They have signed a conditional agreement with the administrators.
The agreement has to be conditional because Portpin Ltd. own Fratton Park and have rejected the offer made by PST for it. Hence, the administrator has to apply to the court for permission to buy the ground.
Portsmouth Supporters’ Trust (PST) are one step closer to taking control at Pompey. They have signed a conditional agreement with the administrators.
The agreement has to be conditional because Portpin Ltd. own Fratton Park and have rejected the offer made by PST for it. Hence, the administrator has to apply to the court for permission to buy the ground.
In a statement released via the club’s website joint administrator Trevor Birch said, ”Today’s announcement marks what is hopefully the beginning of the end of the process.’
Ashley Brown, Chairman of the PST, said: ‘We are thrilled and proud to have signed a sale agreement with the administrator to buy and run Portsmouth Football Club. We hope to finalise the sale by Christmas, and go into 2013 with a fresh start for our great club. This is a special day for the thousands of Pompey fans who have stood by their club and stood up to be counted.’
A share prospectus for fans is being prepared and will be issued on November 19th.