The Pompey Supporter’s Trust have released the following statement after recent reports that administrator Trevor Birch had accepted Balu Chainrai’s offer to buy Portsmouth Football Club.
Pompey Supporters’ Trust can confirm its bid to buy Portsmouth FC is still live and on the table.
Despite recent speculation that administrators PKF has selected Portpin as preferred bidders for Portsmouth Football Club, the Trust has not been informed of any decision to this effect officially.
Moreover, to be successful, Portpin’s bid would need to be approved by the Football League.
PST has written to the league to question whether Portpin’s bid is eligible under the Football League’s own rule book and Owners And Directors’ Test guidelines.
PST Chairman Ashley Brown commented: ‘Pompey fans have experienced a huge amount of uncertainty in the last ten months. This has been heightened by more speculation in the last 48 hours. We want to update our members and supporters on our position. We want to assure our supporters that we are still ready, willing and able to proceed with the purchase of the club if we are chosen to do so.
“Our bid is sensible, financially sustainable and viable. We firmly believe our bid is the best for the future of the football club, and offers a fair return to all creditors including the small creditors who have still not been paid from the previous period of administration. We believe Portpin is the wrong choice for PFC.
“Let’s not forget the actions of Portpin have led to Portsmouth FC suffering two relegations, lose 19 points, with another ten on the cards, and go into administration twice. Local businesses and charities have suffered the consequences of their actions, as well as the players and staff, not to mention the fans.
“Portpin’s comments in the media about our bid not being financially viable are simply untrue. Our bid is fully funded and the business plan is robust, both of which have been accepted by the league and PKF. Our forecasts, as they involve new money, are significantly better than Portpin’s, which will introduce significant debt from day one. Our proposals also result in the re-uniting of the club and the ground on a debt-free basis.