New suitors for Pompey named

Former Disney CEO Michael Eisner, who is looking to take over Pompey

Pompey fans learn full details of Eisner’s bid for Fratton takeover

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THE anonymous group interested in buying Pompey out of administration has been named as being fronted by venture capitalist Brett De Bank.

Sources close to the group have said he has been in talks over past weeks with major club creditor Balram Chainrai and club administrator Trevor Birch from PKF.

According to the Telegraph, De Bank, a University of Portsmouth graduate and regular at Fratton Park, has walked away from doing a deal with administrators after Mr Chainrai demanded payment of £16m for the stadium and multi-million pound bonuses.

The report said Mr Chainrai has offered Pompey’s creditors 2p for every pound to they are owed, whereas De Bank had proposed more than 7p.

But, as previously reported in the The News, it is understood that Mr De Bank’s group had not even jumped through the first hoop of football club ownership by proving they have enough money to pay for it.

A spokesman for PKF said Mr Chainrai’s bid to buy the club, which has not yet been finalised, should see creditors getting more than 2 pence for every £1 they are owed, as was reported in The Telegraph today.

He added: ‘We cannot provide any more details at this stage until the proposals are finalised.

‘As the Chainrai team said on Friday, they realise that the club will only have value if it is successful.

‘He wants to turn things around at Pompey and for the club to regain its rightful position.

‘He will also need to give the Football league some comfort that he has the means to run it on a profitable basis going forward, and the Football League will be very mindful of the club’s history when they look at the business plan.’

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