POMPEY still face a 10-point deduction should fans take over at Fratton Park, the Football League has confirmed.
The football authority today said it has received details of the Pompey Supporters’ Trust (PST) takeover proposal to gain control of the club.
It said two outstanding points need to be resolved before the Football League board can consider the trust’s application – the outcome of the High Court hearing and the trust raising the remaining funding in its business plan.
The league said the board re-affirmed its decision to deduct the club of 10 points once the club is taken over and a range of restrictions on playing budgets and future borrowing for the next four seasons.
In a statement, a Football League spokesman said: ‘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 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 10 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.’
Meanwhile the Pompey Supporters’ Trust says it is ‘very pleased’ the football league has shown confidence in its bid.
In a statement, trust chairman Ashley Brown said: ‘We are very pleased the Football League has shown confidence in our bid by endorsing our proposed membership. This is a highly significant moment for the club.
‘We have always argued that Pompey needs a community-led solution and we are very pleased the league shares our confidence in our ability to turn the club around.
‘Thanks to the backing of our fans and our individual investors we have a robust business plan, which the league has endorsed.
‘We now need fans to back us financially to ensure our club survives. This is a landmark moment on the road to rehabilitating the club and we now need everyone who can to buy a share or convert their pledge as soon as possible. this will ensure we are in a strong financial position prior to the court case.’
He added the trust is ‘disappointed’ over the league’s re-affirming of the points deduction.