THE Pompey Supporters’ Trust say it is on track to reveal its bid to buy the club early next week.
Members of the trust have been meeting with the club’s administrator Trevor Birch, of PKF, with a view to submitting their bid ahead of the next creditors’ meeting, on Monday, June 25.
If the bid is submitted in time, it means that creditors will have to choose between the trust’s bid, and a bid from ex-Pompey owner Balram Chainrai.
His bid offers creditors just 2p for every £1 they are owed by Pompey.
But, as reported in The News, the trust said it would better that deal.
In a statement the trust said: ‘We’re confident this counter-offer will deliver a better return to creditors than the offer made by Portpin.’
And yesterday trust spokesman Scott Mclachlan told The News: ‘The discussions and meetings with Mr Birch are continuing this week.’
The two rival bids are sure to start a voting war at the creditors’ meeting, to be held at Fratton Park.
Mr Chainrai will be keen for his bid to be accepted in order to protect the money that he is owed.
And he has urged creditors to accept his proposals, saying: ‘If approved, the proposal will ensure the club’s survival and give it an opportunity to steady itself and get back on its feet after a troubled few years.
‘I would urge all creditors entitled to vote on the CVA to follow the recommendation of the club’s administrators and vote in favour of it, so as to help save the club and get it back to the position that it should be in.’
He says he will settle in full debts owed the charities, businesses owed less than £2,500 and part-time employees of Pompey owed wages.