Football League Approve Pompey Supporters’ Trust Bid
By Community | December 10, 2012
The Pompey Supporters’ Trust moved one step closer to creating Britain’s biggest community club after The Football League gave the green light to its bid.
At its regular board meeting last week the league was supportive of the Trust’s bid, and in a statement issued on Monday said the bid had “significant merit”.
The two key hurdles the Trust need to get over now is for a successful court case at the end of this week and for fans to continue to convert their pledges and to buy shares.
“We are very pleased The Football League has shown confidence in our bid by endorsing our proposed membership. This is a highly significant moment for the club,” said Ashley Brown, Chairman of PST.
“We have always argued that Pompey needs a community-led solution and we are very pleased the league shares our confidence in our ability to turn the club around.
“Thanks to the backing of our fans and our individual investors we have a robust business plan, which the league has endorsed.
“We now need fans to back us financially to ensure our club survives. This is a landmark moment on the road to rehabilitating the club and we now need everyone who can to buy a share or convert their pledge as soon as possible. this will ensure we are in a strong financial position prior to the court case.
“Of course we are disappointed to the league has confirmed the points deduction, although the reasons for it are the fault of those who have mismanaged the club so badly in its recent past.”
A High Court hearing is scheduled for Thursday 13 and Friday 14 December to determine the value of Fratton Park. Provided the outcome is successful, it is anticipated the Trust may control of Portsmouth FC the following week.