Portsmouth Supporters Trust to table rival takeover offer

The Portsmouth Supporters' Trust (PST) has begun talks with administrator Trevor Birch as it closes in on tabling a rival bid to Balram Chainrai, reports BBC Sport.

The Portsmouth Supporters' Trust (PST) has begun talks with administrator Trevor Birch as it closes in on tabling a rival bid to Balram Chainrai, reports BBC Sport.

Antony Fanshawe of Begbies Traynor, acting on behalf of PST, is having discussions with Birch with a view to presenting a bid within seven days.

"Hopefully we will have two bids for creditors on 25 June," PST spokesman Scott Mclachlan told BBC South.

Chainrai has offered creditors 2p in the pound as part of a Company Voluntary Agreement.

But Mclachlan says the PST may be able to better that offer.

"We saw the offer and it was less than we expected," he told BBC South Today.

"We now have a platform to work from and we hope we can offer better than 2p in the pound.

"But the major issue is still how to sustain the £10m wage bill the club will currently have in League One."

 
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