Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Portsmouth Supporters Trust offered 10% stake in club

Mon 22nd Feb 2010 | Clubs Ownership

Portsmouth fans have given a cautious response to the offer of Sulaiman Al Fahim's 10% stake in the ailing club according to the BBC.

It’s understood that Al Fahim quit as non-executive chairman at Fratton Park and wants to hand his shareholding to the Pompey Supporters' Trust (PST) free of charge.

The PST said an informal offer has been made but said more details were needed.

"The Pompey Trust is doing the right thing in their response to this apparent offer from Al Fahim," said Supporters Direct spokesman Kevin Rye.

"They need to ensure they take the right advice about the risks attached to becoming involved in any football club in the current climate, particularly for a shareholding in a business wracked with such uncertainty."

Supporters Direct, a partner of F.C .Business which was set up in 1999 to help fans' trusts buy shares and increase their influence in their clubs, is concerned the newly-formed PST could be unintentionally exposing itself to considerable financial risk as the heavily-indebted club faces a winding-up petition in the High Court on 1 March.

Rye admitted SD would normally be all in favour of trusts accepting 10% stakes in clubs but said Portsmouth's dire finances made this a more problematic case.

Al Fahim, who bought Portsmouth in August only to sell 90% of it six weeks later, said he was making this offer in order to give fans "a bigger say in the future of the club".

He claimed his lawyers have been advising him to walk away from the club "for the last week or so" but his mind was made up when current owner Balram Chainrai and chief executive Peter Storrie emailed him to stand down.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Ossett Albion Takeover Brings Readymade Academy

Wed 13th Sep 2017 | Clubs Ownership

The founders and directors of Unita, a local based facilities management company, have taken the reigns at Ossett Albion in a move which sees the EVO-Stik North club inherit a ready-made football...

Southampton Secures Chinese Investment Partners

Mon 14th Aug 2017 | Clubs Ownership

Southampton Football Club has announced the formal conclusion of talks which will see Chinese businessman Mr Jisheng Gao take a stake in the Premier League club. In a letter to fans issued on Monday...

Altrincham FC Seek New Investment

Thu 13th Jul 2017 | Clubs Ownership

At a recent Extraordinary General Meeting, the shareholders of Altrincham Football Club passed a series of motions which will now allow the club to bring in new investors. A new controlling share in...

Hartlepool United Announced Club Restructure

Wed 28th Jun 2017 | Clubs Ownership

Hartlepool United Chairman, Pam Duxbury has announced the first phase of the club’s restructure following relegation to the National League and subsequent resignation of Gary Coxall. Coxall...