The Pompey Chimes

The Pompey Chimes. Portsmouth Football Club Fans. Play up Pompey!

Pompey Future still up in the air

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Friday October 12, 2012 3:00 PM - 4:00 PM
Fratton Park, Portsmouth, England  (map)

Report from the Telegraph

Portsmouth’s future remains up in the air after the Football League held a board meeting to discuss the issue on Thursday.

The troubled club faces what is likely to become a deadline for a takeover’s completion, since the players’ monthly contracts expire next Tuesday.

However, the matter remains inconclusive after yesterday’s meeting as it is understood that further dialogue is required between the stakeholders involved in the process.

They include the administrator, PKF, which is running the club, and the two parties interested in buying the insolvent club. One is the Portsmouth Supporters’ Trust, the other Balram Chainrai’s Portpin.

The Trust’s bid faces an obstacle Portpin’s does not share: that Pompey would not be able to gain access to Fratton Park under PST ownership. Chainrai holds a secured charge over the ground that has not been challenged during the administration, despite many who have been involved in the club’s affairs in recent months and years questioning its legitimacy.

It is expected that Chainrai would prevent the club playing at the stadium under the Trust. Indeed, unless the courts force the charge to be released or force Chainrai to accept its valuation of the ground, it could lead to the club becoming homeless.

 

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