Pompey Takeover: Will the fans get their investment back?

Michael Eisner
Michael Eisner

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The potential takeover of Pompey by American billionaire Michael Eisner has left fans in the dark over their investment in the club.

The Pompey Supporters’ Trust has 2,426 shareholders - each having paid £1,000 for a share in the club.

As The News reported yesterday, any proposed deal would have to be put to those supporters.

But many fans who have invested have now questioned whether they will receive any of their money back, especially given their club could be taken over by a billionaire.

When fans bought their shares, they were informed that their investment would not lead automatically to receiving a dividend - a percentage of the profits made by the club.

In the PST Share Offer, available on their website, the trust explains that if it was dissolved or wound up, holders of community shares in PST would have no financial entitlement except for the payment of any outstanding interest approved by the board and the ‘repayment of paid-up share capital’.

It also explains that community shares cannot be traded and cannot go up in value, but may go down if the club incurs substantial losses.

The Trust owns 48.48 per cent of the club, making it the largest single shareholder.

The remaining 51.52 per cent shares are distributed among the 16 presidents, who will vote individually on the proposed deal.

The News understands that the issue of whether shareholders will receive any of their investment back will remain uncertain until any potential deal is put forward by Mr Eisner.

Therefore, it is likely that shareholders will know more about the future of the investment if, and when a deal is put on the table.

In a statement released yesterday, Pompey’s chief executive Mark Catlin said that ‘all shareholders would be involved from the start of the ensuing process.’