Trust reassures fans it is on course for Pompey takeover

Pompey fans are poised to buy the club
Pompey fans are poised to buy the club
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THE Pompey Supporters’ Trust has moved to reassure fans that it has the funding to succeed its takeover of the club.

Ashley Brown, chairman of the trust, today reiterated that its bid still has the confidence of the administrators and the Football League following the adjournment of last week’s crucial court hearing.

Mr Brown said: ‘While it was very frustrating to be subject to a last-minute problem which was outside our control, we have used the last 48 hours to ensure our plans are flexible enough to accommodate different outcomes if we need to, in what the judge has described as a “fluid” situation.

‘We will update you further as soon as circumstances permit, but, for nor, we can assure you of three things.

‘We have the funding to succeed, providing we continue to convert pledges. Our individual “high net worth” investors have lodged a seven figure sum in escrow, and pledges are coming in ahead of target. And, of course, your money less the small administration fee will be returned if our bid is unsuccessful.

‘Our bid has the confidence of the administrators and the Football League. That has not changed.

‘We fully expect to be the next owners of Pompey, and believe we will proceed with the purchase of the club in the next few weeks.’

He added the trust was grateful to its high net worth individuals who have funded the club over recent weeks while the court action takes place, as reported by The News.

He said: ‘Nobody said this would be easy. Portpin, as the largest secured creditor, was never going to walk away quietly. We have a range of back-up options to deploy if any element of this complex project runs into problems.

‘In the meantime, the trust team is working night and day to make sure we are ready to secure the future of our football club at the earliest opportunity.

‘Your pledges, conversions and support take us a step closer every day to turning this club around. Thank you for your terrific support, and we promise to provide a fuller update as soon as we are able to.’