Eisner gets approval for Pompey takeover

Michael Eisner.
Michael Eisner.

Michael Eisner has been given the green light to buy Pompey.

Pompey Supporters’ Trust shareholders and the club’s presidents have today approved a £5.67m bid from Tornante investment group.

It means Tornante will become the club’s next owners, once legal complexities are completed.

And for Pompey, the community ownership model in existence since triumphing at the High Court in April 2013 will end.

In total, 81.4 per cent of the club’s equity holding agreed to the sale. The required amount was 75 per cent.

In terms of the Trust’s 48.48 per cent stake, there was approval from 80.32 per cent (1,825) of the 2,272 who cast their vote.

A total of 447 votes were against selling to the American billionaire.

In addition, 75 per cent of the club’s presidents granted their approval, with 12 of those 16 in favour.

In a statement, Trust chairman Ashley Brown said: “This is true fan ownership and democracy at work. Our fans decided who the next owner of our club would be – and it will be Michael Eisner and Tornante.

“The Trust board would like to wish Michael the very best of luck. We believe he understands the importance of the custodianship of Pompey and will be an owner all fans will be proud of.

“We look forward to working with him, his family and Tornante for many years to come.”