THE court case scheduled for tomorrow over Fratton Park’s valuation has been adjourned.
Pompey administrators PKF and Portpin representatives were due in court tomorrow for a hearing to determine a date for a full valuation hearing.
However a spokesman for Portpin, the firm of the club’s former owner Balram Chainrai, confirmed to The News the case had been adjourned for 14 days.
He said: ‘I was told late yesterday that the case has been adjourned for 14 days.’
The valuation of Fratton Park is the last remaining hurdle for the Pompey Supporters’ Trust (PST) in their attempt to take over the club.
The trust values the ground at £2.75m while Portpin, which has a charge over Fratton Park, is seeking around £11m.
PKF have confirmed the court case has been adjourned until February 14.
However, the firm could not divulge why for legal reasons.
A spokesman for PKF added a judge has agreed to extend Pompey’s administration until August 17.
The firm had to apply for an extension with the one-year anniversary of the club being put into administration looming on February 17.
But PKF stressed that the club cannot enter next season in administration and added work will continue to bring the club out of administration before June.
Last week Football League chairman Greg Clarke warned Pompey would be thrown out of the league if they are still in administration by June.
Ashley Brown, the chairman of the PST, said: ‘The new delay is very frustrating for the PST bid team and we share that feeling with many fans I am sure.
‘However the hearing is not directly PST’s affair, but we see it as a move which helps us to get our bid over the line.
‘We have been working very hard on preparing for the case, but it remains a very complex deal and there have been significant paperwork demands and legal hurdles to get over.
‘Our bid is virtually complete and the additional time will allow the final i’s to be dotted and t’s to be crossed, before the case is put before a High Court Judge. We remain confident we will take control of the club by early March.’
Comments