Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

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

Portsmouth Enter Possible Takeover Talks

Thu 23rd Mar 2017 | Clubs Ownership

Portsmouth Football Club has confirmed it’s in talks regarding a potential takeover.

In a statement released by the club, they said: “Portsmouth Community Football Club would like to advise all shareholders and supporters that it has entered into an Exclusivity Agreement with Michael D. Eisner and his Tornante Group to allow for a period of discussions and negotiations to take place regarding a possible purchase of the club.

“The agreement is simply to ensure that during this period, which will be 70 days, the club will not engage in discussions with any other potential bidder and is standard practice in these situations.”

Portsmouth Community Football Club Ltd, currently sitting in third place in League Two,  has three shareholders that currently own in excess of 10%: Portsmouth Supporters Society Ltd (Pompey Supporters' Trust) 48.47%, John Kirk 10.57% and Christopher Moth 10.57%. There are 14 other individual shareholders in PCFC Ltd, each owning less than 10%. 

The exclusivity talks form part of a period of negotiation and due diligence with Mr Eisner and his Tornante Group to establish the details of his proposal and review of the clubs business and financial information.

Both Presidents and those with the PST will be informed on the terms of the offer before shareholders to vote to either accept or reject the offer.

Leading the negotiations is Trevor Birch managing director of Duff and Phelps.

Posted by: Aaron Gourley 

RETURN TO LATEST NEWS SECTION
SUBSCRIBE TO THE FCBUSINESS RSS FEED
 
If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

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

Related Articles

Walker Morris Advise On Leeds United Sale

Thu 5th Jan 2017 | Clubs Ownership

Specialist Sports Law Team at Walker Morris reinforces its national reputation for football club acquisitions/sales with the latest sale of Leeds United FC. Specialist sports lawyers at Walker Morris...

Aser Group Holding Acquires 50% Of Leeds United

Wed 4th Jan 2017 | Clubs Ownership

Aser Group Holding has completed its investment in Leeds United Football Club today. Leeds United Football Club has confirmed Aser Group Holding, through its acquisition vehicle Greenfield Investment...

Notts County Sold To Local Businessman

Mon 19th Dec 2016 | Clubs Ownership

Notts County owner Ray Trew has confirmed the sale of the club after reaching an agreement with local businessman Alan Hardy. Having held discussions with a number of prospective buyers in recent...

Aldershot Town FC Appoint Three New Directors

Tue 22nd Nov 2016 | Clubs Ownership

Aldershot Town FC has appointed three new Directors onto its board, bringing decades of expertise and increased investment into the club. Lewis Scard is joined by Iain Ross and Stephen Mallett, whom...