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Pompey Supporters Trust ready to do deals with high earning players

Pompey Supporters Trust

Pompey Supporters Trust

 

THE Pompey Supporters Trust has again stated it is ready to buy the club but it can only do so if the high earning players leave Fratton Park.

Representatives of the Pompey Supporters Trust met with administrator Trevor Birch on Tuesday and the trust believe it is increasingly unlikely that football club will be sold as a going concern.

Trust representatives believe the administrator has become frustrated in his negotiations with players and their agents and has said that unless they are prepared to agree to a much lower level of claim the Club will go into liquidation.

Mr Birch has already told The News he has set a deadline of August 10.

If Pompey goes into liquidation it will lose its league position, and its right to the £11 million of parachute payments from the Premier League.

If the worst happens it will also mean that the players who on a ‘going concern sale’ are treated as football creditors and must be paid, will lose all such rights and will be treated as ordinary unsecured creditors in the liquidation. It is unlikely that there will be any significant dividend in a liquidation.

The PST has been working on its bid for four months, having organised the most successful fan pledge scheme of its type, which has raised a substantial seven-figure sum.

The Trust has pledged it is ready to do what is required to save Portsmouth Football Club, but has urged the players to sit down with trust representatives so they explain their deal.

Unless a deal is reached, the trust fear Pompey will be liquidated.

Ashley Brown, chairman of PST said: ‘We are ready and able to see this process through and buy the club.

‘We have made a good offer and are making good progress in raising funds. The one remaining hurdle is the payment of football creditors, but if they don’t shift we simply cannot do a deal outside liquidation.’

Anthony Fanshawe of Begbies Traynor, who is advising the Trust bid team added: ‘I have two messages for the players. Number one is that if you do not agree a sensible deal the club will go into liquidation in a couple of weeks and you will get nothing. Number two, we are willing to meet you at any time to discuss terms and put the deal to bed as soon as possible. Meet with us and together we can save Portsmouth Football Club.’

 

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