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UK investor group makes bid for Portsmouth FC

A group of UK-based investors has submitted a formal bid for Portsmouth Football Club, aided by Avalon director Harry Kerr.

According to the BBC, the group, called Portco Ltd, is claiming to have shown Portsmouth’s administrators PKF bank statements totalling £6.47m as proof of funds.

The BBC reports however that ex-owner Balram Chainrai’s firm Portpin and the Pompey Supporters’ Trust remain front-runners for the club.

Kerr says: “We have been involved with this Portsmouth deal for around four months now. I am helping Portco to raise the funding required for the purchase.”

PKF partner and joint administrator of Portsmouth Trevor Birch said on Friday that Portpin and the PST should be allowed more time to conclude a sale.

He said: “Significant progress has been made over the past two weeks, and both Portpin and the Pompey Supporters’ Trust are continuing to work with the Football League, which must agree that they can take ownership of Portsmouth Football Club, and the Professional Footballers’ Association, which represents the players owed money by the club. However, neither party is in a position to complete an acquisition of the club at the moment.

“Once the bidders reach agreement with the League, and the remaining contractual aspects of the transaction have been agreed, we will be in a position to finalise a sale. Our discussions with both Portpin and the PST suggest that both parties are capable of concluding a deal.”

Both parties resubmitted their bids on Friday. The BBC says there are two other bids under consideration, from former club owner Sulaiman Al Fahim and ex-Watford owner Laurence Bassini.


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There are 12 comments at the moment, we would love to hear your opinion too.

  1. Is Terry Pritchard involved as an adviser???!

  2. We're all Doomed!!! 20th September 2012 at 12:30 pm

    Come on guys – let’s get our clients to move their poorly performing pension funds, into a SIPP, and invest in this UCIS.

    This Club is on it’s knees – the only way is up – what an investment opportunity!!!!

  3. I don’t know why anyone would want to waste money on that poor excuse of a football club.

  4. Clearly a southampton fan! I seem to recall they were in a very similar situation recently?

  5. Hate that if any post showing no animosity for Portsmouth is considered a Saints fan, it could be from many other clubs that the club owe money too or who lost out when they were winning with money they didnt have, Im a born and bred Saints fan, I dont want them to go under because i Love the rivalry. And 99% of Southampton fans would feel the same

  6. And to the Southampton fan @ 1.22pm – remember you meet the same people on the way down that you did on the way up!!! Pompey have won the FA cup twice………so poor we may be but our fans are the most loyal you will find anywhere!

  7. Yes it could be, but as you have proved, it very rarely is is it?

  8. Come on the Villa!!

    5 games….no points….poor, poor Southampton

  9. ‘it could be from many other clubs that the club owe money too or who lost out when they were winning with money they didnt have’

    Don’t be an UTTER moron. Do you think Man City generate enough cash on their own to fund their spending and wages? Does that mean every club below them on the pyramid missed out? No. It means they have an owner who can afford to bankroll them.

  10. @5.54: Man City don’t spend money their oil sheikh doesn’t have. This isn’t about the morality of football ownership and some clubs having more than others, it’s about paying what you owe.

  11. Whilst I agree with you, Anon, 9.44am – Portsmouth were not the first Club to experience Financial Problems, and will not be the last. In fact, there are probably scores of Clubs tetering on the edge, as we speak.

    Birmingham City, with the delay on issuing their accounts, are possibly the next high profile club to enter administration.

    Southampton, with their cureent Premiership status, being another high profile club who entered administration not long ago, and were just minutes from liquidation.

    Glasgow Rangers – the list goes on and on.

    The fact is, that these clubs didn’t plan for downturns in revenue adequately enough – Portsmouth entered administration to the then owners global business interests taking a massive downturn. It doesn’t mean they are a bunch of crooks.

    In the meantime, what better time to invest in a football club who are in this predicament? – the price is at rock bottome, and there is potential for big revenues due to the loyal fan base and recent success on the pitch.

    Harryu Kerr did not get to where he is today without a nose for a good investment!

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