Fans' trust make takeover bid

PA Sport
Portsmouth Supports Trust has tabled a bid to buy the club
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Portsmouth Supports Trust has tabled a bid to buy the club

Pompey Supporters Trust has submitted a takeover bid for npower League One side Portsmouth.

The club are currently in administration and have already received a bid from Hong Kong-based former owner Balram Chainrai, who has told administrators he would only step in as a last resort to prevent the club from going bust.

Begbies Traynor partner Rosemary Penn-Newman, acting on behalf of the Trust, said: "We have submitted a bid on behalf of the Pompey Supporters Trust for the acquisition of Portsmouth Football Club. The Trust has been working on putting this bid together for some time, but we feel that we now have an offer that deserves serious consideration."

He added: "We are unable to disclose the contents of the bid which has been submitted to Trevor Birch, one of the administrators. There is a creditors meeting scheduled for Monday, June 25 when any bids for the club will be reviewed.

"Whichever bidder ends up in the driving seat there will still be lot of work to do to ensure a successful completion, the most important of which is continuing the on-going negotiations with the creditors."

The club has reported debts of £24million, with £18.6million owed to Chainrai's offshore company Portpin, most of which is secured against the Fratton Park stadium.

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