Portsmouth owner Michael Eisner and Tornante demonstrate financial commitment with fresh £4m investment

Owners Tornante have invested another £4m into Pompey.

Tuesday, 21st June 2022, 4:30 pm

And, according to details lodged at Companies House, crucially it’s in the form of share capital and not a loan.

Officially filed today, it details the allocation of £4m of new shares – in addition to £5m previously invested in November 2021.

As part of Pompey’s £5.67m sale to Tornante in August 2017, they also financed £10m of share capital.

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Since then, that’s an additional £9m put in during the last seven months.

That takes the total of £19m invested by Tornante since their Fratton Park arrival – and all as equity.

Unlike many clubs – and under previous Pompey ownerships – that means no loans and accompanying interest payments have been lodged against Pompey.

It is understood the latest £4m is earmarked for ongoing building works at Fratton Park, in addition to helping plug operational losses following Covid.

Pompey chairman Michael Eisner and Tornante have injected a further £4m into Pompey, according to Companies House. Picture: Joe Pepler

Meanwhile, the ongoing £11.5m Fratton Park redevelopment programme continues, with phase three, the South Stand, set for unveiling at the end of this month.

Further cash injections from Tornante within the forthcoming year are anticipated as they seek to fulfil the stadium project.

Furthermore, the impacts of Covid will continue to be felt in the next set of accounts and are expected to be significant.

The further £4m investmest will be used to continue the £11.5m development programme at Fratton Park, where the South Stand is presently being worked upon. Picture: Habibur Rahman

In the meantime, Danny Cowley is preparing for the Blues’ sixth successive season at League One level as they battle to return to the Championship.

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