McInnes eyes Pompey takeover completion

Iain McInnes believes it will be next month before Michael Eisner is installed as Pompey's owner.

By The Newsroom
Friday, 9th June 2017, 6:59 am
Pompey chairman Iain McInnes
Pompey chairman Iain McInnes

It’s approaching three weeks since shareholders and presidents approved the Tornante investment group’s £5.67m bid.

Yet while the complexities of the takeover are thrashed out towards conclusion, the club continues to be run by the existing board.

McInnes also remains involved, despite quitting as chairman, and participated in last week’s appointment of Kenny Jackett as boss.

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And the 66-year-old foresees a short time yet before the Eisners are officially at the Fratton Park helm.

He said: ‘There is participation, clearly, there in the background in some areas from the new owners.

‘But the quicker that regime takes control, the sooner we will accomplish the project most of us feel excited about.

‘We are fortunate we have a capable management team who are pretty much managing that transition on a day-to-day basis. At the moment we are running the business to the budgets we agreed as a board in April.

‘Due diligence can be a straightforward process or can be very complicated. I actually think this due diligence should be relatively straightforward and I know people are working full steam ahead on it.

‘It’s very much accountants and lawyers doing what needs to be done on behalf of their clients.

‘Could it be a month more? It could be. Could be it longer than that? It all depends on what turns up.

‘At the end of the day, when someone is doing a deal which involves multi-millions of pounds initially and a much more significant lay out afterwards if everything goes to plan, it’s not for me to dictate or to persuade that it needs to be done any quicker.’