Keith Harris Makes New Portsmouth Bid but Supporters Trust Unimpressed

By iSportconnect | February 18, 2013

Football financier Keith Harris has made a revised offer to take over stricken League One club Portsmouth, just weeks after being told no by the Football League.

Harris was told that the Football League would only consider a bid from the Pompey Supporters’ Trust (PST), but he has now offered Portsmouth fans a free 15% stake in the club if he takes over.

The Harris-led bid announced that “an option to acquire the stadium from the current owners is in an agreed form and will be completed immediately following the takeover.

“Funds to complete the purchase are ready to be transferred to a UK solicitors’ bank account and therefore ready for immediate release, subject only to the consent of The Football League.

“Negotiations to purchase the club from the administrators and a payment plan to satisfy the PFA have now been completed and the agreements are ready for signature.

“Our bid has the full support of the creditors’ committee including HMRC and the PFA as it gives a much greater return to creditors than the PST proposal. It also complies fully with the terms of the CVA.

“The only outstanding issue remains the consent of The Football League, and all paperwork in that regard including the business plan, and stadium lease and purchase, are available for immediate consideration by the board of The Football League.”

But the PST’s spokesman, Colin Farmery has told the BBC that no offer would be considered and has suggested that Harris has little chance of taking over at Fratton Park.

Farmery told BBC Radio Solent: “The timing is curious. Our immediate reaction is why now when the PST is on the verge of completing a deal for Pompey Football Club?

“We are about to get 100% of the club as Pompey fans so why on earth would be interested in an offer giving us only 15%.

“The Football League statement was very robust and they have made it clear they only want to deal with us. Our bid is credible and ready to go. Our bid will ensure that we own Fratton Park from day one and make a total and clean break from the past.”