Supporters poised to buy Portsmouth
The Portsmouth Supporters' Trust is hopeful that its deal to buy the club out of administration will be concluded by Christmas, after signing a conditional agreement that raises hopes of an end to a tortuous saga for fans of the south coast club, reports The Guardian. However, the sale remains conditional on the administrator receiving permission to sell Fratton Park.
The League One club's former owner Balram Chainrai, who has an outstanding charge on the ground though his company Portpin, has been unable to agree a deal with the administrator to sell the ground to the Trust.
It believes a fair market value for the ground is between £2m and £3m while Chainrai, looking to recover as much as possible of the £17m he claims to have sunk into the club, is believed to be holding out for much more.
It will be for a court to decide whether the administrator can take control of the sale process and to decide whether PST's offer represents fair value.
The administrators are hopeful a court date can be set before 21 December, allowing the club to go into the new year in the hands of the supporters trust.