League Board considers PST proposal
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 owner 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 Football 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 ten 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.