Portsmouth Close to Takeover Says Club Administrator

January 4, 2012

English Championship side Portsmouth FC are on the verge of announcing new owners, according to administrator Andrew Andronikou.

Pompey owner Vladimir Antonov stepped down in November as the Championship club’s parent company Convers Sport Initiatives entered administration.

But Andronikou, of UHY Hacker Young, has revealed a takeover deal is now close with a mystery consortium.

“We are in the final stages of agreeing terms with one particular party,” Andronikou told told BBC Radio Solent. “I’m hoping that in the next seven to 10 days I will have some news for the outside world.

“We’ve been actively looking for someone suitable to buy the club and we’ve had numerous interest as usual, some more suitable than others.

“They are coming in for the first time and we are checking their credentials to see if they fulfil all the criteria for the Football League.

“We are trying to scope out who they are and if they have the ambition and ability to take the club forward once and for all. We are looking to negotiate a contract and subject to that being okay we will put forward their application to the Football League who can conduct their own fit and proper person test and give us the thumbs up.

“Proof of funds has been done and we are fairly satisfied that they have the finances to take the club forward.”