Summer takeover date targeted for Pompey

Pompey's ownership issue is not expected to be resolved until the summer.

Tuesday, 21st March 2017, 7:00 pm
Updated Friday, 24th March 2017, 10:55 am
American billionaire Michael Eisner

As previously revealed by The News, Michael Eisner is currently in progressive negotiations over a Fratton Park takeover.

He must reach agreement with the Blues’ board over a figure before it can be presented for shareholders to decide whether to approve.

The timeframe for that process to play out is anticipated to stretch until Pompey’s season is over.

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By that stage, Paul Cook’s side could conceivably have returned to League One as they continue to eye promotion.

It is believed that Eisner, if successful in his attempts to own Pompey, would prefer a summer arrival at the helm with a fresh footballing campaign ahead.

In theory, that would also enable Cook to continue steering Pompey towards a League Two departure without potential distractions from events above.

The News understands Eisner’s Tornante investment group are keen on obtaining complete ownership of the Blues, rather than sharing.

It is claimed they are also willing to use equity rather than taking out loans against the club and burdening it with debt.

If that is the case, it should reassure supporters concerned for Pompey’s future should one day their owner depart.

Although the American billionaire is the figurehead for any prospective deal, Eisner’s sons will also take a key interest in the running of the club should they capture it.

Eric has already attended Fratton Park alongside his father at matches, while brothers Breck and Anders remain keen football followers.

The family have spent more than two years seeking a football club to invest in and had previously eyed Reading before switching attention to Pompey and it’s potential.

While negotiations are continuing, at this moment in time no comment is expected from Eisner on his ongoing interest.

Instead, once a fee can be finalised, it is planned he will address supporters in person.

The 75-year-old is aware communication with the Fratton faithful is crucial, particularly considering he requires a 75-per-cent approval from those shareholders among them.

He will need to explain the finer details of his Pompey blueprint, which much not clear at this stage of talks.

The Pompey Supporters’ Trust are also hoping to arrange a meeting of shareholders to explore the situation.

In the meantime, Eisner is said to be gauging fans’ opinion of his prospective takeover from afar to see if he would be welcome as a Fratton Park owner.

Previously he had been following the Twitter accounts of The News and Pompey, but that has stopped since Monday.