Football League Reaffirm Portsmouth Points Deduction
Tue 11th Dec 2012 | Clubs Ownership
Portsmouth face a 10 point deduction once a takeover by the Pompey Supporters Trust (PST) is complete.
The south coast club have been in administration since Feburary but were given permission by the Football League to begin the 2012/13 season on zero points.
The proposed takeover by PST will take the club out of administration but will mean the club now face the deduction.
A statement from the Football League read:
“The Football League Board has received details of a proposal by Pompey Supporters' Trust (PST) and its partner investors, to acquire the assets and certain liabilities of Portsmouth Football Club.
”Having considered the proposal in detail, the Board concluded that it had significant merit. However, two outstanding points will have to be resolved before the Board can fully consider PST's application to become the new owners of Portsmouth Football Club.
“They are the outcome of the current High Court proceedings relating to the ownership of Fratton Park and PST raising the remaining funding from supporters that is anticipated in its business plan.
”The Board also confirmed that on-going membership of The League would be subject to a number of conditions that seek to ensure the sporting integrity of league football and the financial viability of the Club going forward.
“It therefore re-affirmed its earlier decision that these conditions would include a deduction of 10 points (applicable at the point of transfer of share) and a range of other restrictions on playing budgets and future borrowing for the next four seasons.”
However, PST Chairman, Ashley Brown remained positive despite the news: “We are very pleased The Football League has shown confidence in our bid by endorsing our proposed membership. This is a highly significant moment for the club.”
“We have always argued that Pompey needs a community-led solution and we are very pleased the League shares our confidence in our ability to turn the club around.
“Thanks to the backing of our fans and our individual investors, we have a robust business plan which the league has endorsed.
“We now need fans to back us financially to ensure our club survives. This is a landmark moment on the road to rehabilitating the club and we now need everyone who can to buy a share or convert their pledge as soon as possible. This will ensure we are in a strong financial position prior to the court case.
“Of course we are disappointed that the league has confirmed the points deduction, although the reasons for it are the fault of those who have mismanaged the club so badly in its recent past.”
A High Court hearing is scheduled for Thursday, December 13 and Friday, December 14 to determine the value of Fratton Park. Provided the outcome is successful, it is anticipated the Trust may take control of Portsmouth FC the following week.
Posted by: Aaron Gourley
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