Council meeting will decide on Pompey loan

MEETING Council leader Gerald Vernon-Jackson has written to the Pompey Supporters' Trust about a possible loan
MEETING Council leader Gerald Vernon-Jackson has written to the Pompey Supporters' Trust about a possible loan

Solent Waspi campaigners attend Fareham fair

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AN EMERGENCY meeting will be held on Thursday which could decide the fate of Pompey.

Portsmouth City Council is considering loaning taxpayers’ cash to help fans take over the ailing football club.

Council leader Gerald Vernon-Jackson said he has written to the Pompey Supporters’ Trust laying out the conditions which would be placed on any loan.

But the full council will still need to vote on any proposal so an extraordinary meeting will take place in the Guildhall at midday on Thursday.

Cllr Gerald Vernon-Jackson said: ‘We have been asked a question by the trust about whether we will loan them money.

‘There is a council report coming out today and I have written to the trust, but we still have to meet and decide what exactly we are going to do.’

The trust has revealed details of its takeover proposals and part of it includes seeking a £1.45m short-term loan from the council to secure Fratton Park.

Former owner Balram Chainrai has £17.5m secured on the ground – but the trust is looking to offer him £2.75m to wipe that out.

But the proposals still rely on the club’s remaining high earners leaving or reaching a compromise ahead of the August 10 liquidation deadline set by administrator Trevor Birch.

Their share scheme has raised £3m in fans’ pledges with £1m in the bank already.