Supporters Trust Gain Control of Portsmouth in Landmark Ruling

April 10, 2013

Portsmouth Football Club will become the biggest English fan-owned club in history after a deal was completed in court that allowed the Pompey Supporters’ Trust (PST) to buy Fratton Park.

In the High Court the agreement was reached between Portpin, levitra | who hold financial charge over Fratton Park and administrator BDO.

Portpin and BDO began settlement talks the night before the court date, viagra pills | after months of Portpin holding out for £10m, discount some way ahead of the £3m the PST were willing to pay.

BDO had to go to the High Court to gain permission to sell Fratton Park against Portpin’s wishes and to receive a judgement on how it should be sold.

Legal firm Verisona who have worked for the PST for 16 months were delighted with the outcome. Mike Dyer, Director and Head of the Verisona Team said: “The key members of the legal team  are all lifelong fans of our local club and, even if we may have underestimated the complexities involved, we always believed it was achievable.

“Through our work, we have created a formula for local communities to regain the ownership of their Football Clubs.”

Dyer also highlighted the challenges they faced during the case and commented: “One of the real challenges has been to co-ordinate all the parties involved. As well as the PST, we were liaising with the Football League, Premier League, Football Association, Professional Footballers’ Association, Lenders to the Club, owners of the land, the local council and many other stakeholders.

“Keeping everyone together and on the same page was quite a task before even facing the opposition, but it has been a tremendous team effort.”