ADMINISTRATOR Trevor Birch has handed more time to the two parties bidding to take ownership of Pompey.
Mr Birch had set a deadline of today for both the Pompey Supporters’ Trust and Portpin to submit their final offers for the League One club.
However the joint administrator has now offered both groups more time to work on their bids.
In a statement Birch, PKF partner and joint administrator of Portsmouth Football Club (2010) Ltd, said:
‘Significant progress has been made over the past two weeks, and both Portpin and the Pompey Supporters’ Trust (PST) are continuing to work with the Football League, which must agree that they can take ownership of Portsmouth Football Club, and the Professional Footballers’ Association, which represents the players owed money by the club.
‘However, neither party is in a position to complete an acquisition of the club at the moment.
‘Once the bidders reach agreement with the League, and the remaining contractual aspects of the transaction have been agreed, we will be in a position to finalise a sale. Our discussions with both Portpin and the PST suggest that both parties are capable of concluding a deal.
‘As a result of these factors, we believe it is in the best interests of creditors to allow the interested parties a further short period of time to conclude a sale.’
Colin Farmery spokesperson for PST said: ‘We have said all along that our bid is robust and credible, and the best option for the creditors and the football club,’ said
‘To all intents and purposes our bid is submitted but, given Pompey’s recent history, we fully understand and support the need for this process to be as thorough as possible. We will continue to work to the timetable set out by the administrators.
‘We are pleased that Trevor Birch thinks we are capable of concluding a deal and will work round the clock to agree and finalise the deal as soon as we can.
‘In the mean time we would urge all Pompey fans who are able to attend the match at Fratton Park against Walsall on Saturday and give Michael Appleton and the team their full support.’
No date for both parties to complete an acquisition of the club has been announced.