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Sunday, 1st August 2010

Rob Lloyd's consortium prepares bid for Pompey

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Published Date:
19 March 2010
The man fronting the consortium which hopes to buy Pompey has said he is more confident than ever about the deal going through.
Rob Lloyd, who has been the public face of the bid since meeting fans last weekend, believes his consortium will be able to begin the process of due diligence early next week when he hopes to have access to Pompey's books.

The millionaire thinks that process will take up to two weeks, after which the mystery investor behind the consortium will step out from the shadows and reveal his identity.

But Mr Lloyd said the consortium had refused to pay a £3m bond for an exclusivity agreement.

That means other interested parties still have the chance to swoop in and trump the consortium's bid over the coming weeks.

Mr Lloyd, who has now met administrator Andrew Andronikou three times, said his group has paid a small amount of money so they can sit down and study the books.

Mr Lloyd said: 'It will probably take one week or two weeks to assess all of the information.

'We want to get into the data room and start the due diligence.

'We want to go through due diligence then straight to contract.'

Mr Lloyd believes his investor - a British-based hedgefunder - will be ready to reveal his identity in the near future.

Mr Lloyd, who was speaking on The Quay radio, said: 'I'm acting on behalf of a major and substantial investor.

'It's fair to say once we have gone through the due diligence process and everybody is happy, I'm sure it (his identity) will all come out.

'There is nothing to hide with this. He is a private individual, he has got his own family situation, the guy has various interests and various pies. 'He is a business guy and he doesn't like public attention.'

Meanwhile Pompey fans have called for transparency from prospective new owners and the club's administrators.

Brendon Bone, of SOS Pompey, said: 'Since January 2009 all the achievements of the previous six years have been utterly destroyed.

'We need a fresh start with new owners that the supporters can unite behind.'

In another development Andronikou said former chief executive Peter Storrie shoulders a 'large part' of the blame for the club's financial woes.

But a source close to Storrie hit back and said: 'There has been a succession of owners, who have been in control of the club and its finances, rather than Storrie, so you can imagine he has taken great exception to this.'

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  • Last Updated: 19 March 2010 8:45 AM
  • Source: The News
  • Location: Portsmouth
 
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19/03/2010 09:05:00
Comment Reported Unsuitable By User
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19/03/2010 09:05:29
Comment Reported Unsuitable By User
3

gleefuljason,

19/03/2010 09:06:17
"The millionaire thinks that process will take up to two weeks, after which the mystery investor behind the consortium will step out from the shadows and reveal his identity"

I bet it's P Diddy.
4

sean bean fan,

19/03/2010 09:08:19
"There has been a succession of owners, who have been in control of the club and its finances, rather than Storrie, so you can imagine he has taken great exception to this." So, as chief executive, Peter Storrie had no control of anything. Right.
5

stompachav,

19/03/2010 09:14:52
Ok, please can somebody smarter than me tell me what the hell a Hedgefunder is ?
6

Mattyc,

19/03/2010 09:16:12
If it is real and above board AA will sort out.

If it is not AA will get rid of them

I am happy with AA, things will progress in a positive way.
7

pfcCornwall,

19/03/2010 09:18:16
@gleefuljason: haha! That would be funny!
8

Mattyc,

19/03/2010 09:18:29
http://en.wikipedia.org/wiki/Hedge_fund

A hedge funder does this!!
9

Mattyc,

19/03/2010 09:19:32
Cornwall - there was an article yesterday saying P Diddy was after us or Palace!!!!!!!
10

pfcCornwall,

19/03/2010 09:23:15
On a more serious note: I can understand a potential owner wanting to keep hid identity private during the initial research phase, frustrating as it is for us.

I will judge them if or when they make a proper bid. That is the point at which there is no justification for further anonimity.

So let's give them a chance.

(If P Diddy bought us would Jay-Z buy teh 5cummers?)
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