New Bid Made for Portsmouth FC

By Community | September 20, 2012

According to reports a group of UK-based investors has submitted a formal bid for Portsmouth Football Club, drugs aided by Avalon director Harry Kerr.

First reported by the BBC, look the group, store called Portco Ltd, is claiming to have shown Portsmouth’s administrators PKF bank statements totalling £6.47m as proof of funds.

The BBC reports however that ex-owner Balram Chainrai’s firm Portpin and the Pompey Supporters’ Trust remain front-runners for the club.

Kerr says: “We have been involved with this Portsmouth deal for around four months now. I am helping Portco to raise the funding required for the purchase.”

PKF partner and joint administrator of Portsmouth Trevor Birch said on Friday that Portpin and the PST should be allowed more time to conclude a sale.

He said: “Significant progress has been made over the past two weeks, and both Portpin and the Pompey Supporters’ Trust are continuing to work with the Football League, which must agree that they can take ownership of Portsmouth Football Club, and the Professional Footballers’ Association, which represents the players owed money by the club. However, neither party is in a position to complete an acquisition of the club at the moment.

“Once the bidders reach agreement with the League, and the remaining contractual aspects of the transaction have been agreed, we will be in a position to finalise a sale. Our discussions with both Portpin and the PST suggest that both parties are capable of concluding a deal.”

Both parties resubmitted their bids on Friday. The BBC says there are two other bids under consideration, from former club owner Sulaiman Al Fahim and ex-Watford owner Laurence Bassini.

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