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Portsmouth - Portsmouth Empty Portsmouth

Post  Guest on 2013-01-15, 12:30 am

This is what happens when you spend money you haven't got....






http://www.bbc.co.uk/sport/0/football/21014917




Portsmouth's High Court hearing adjourned a second time













A High Court hearing to set the date to decide the future of
Portsmouth Football Club has been adjourned for a second time,
administrators have said.




The original hearing was adjourned


because of an issue between administrators PKF and the property
partner working with the supporters' group looking to buy the club.



A hearing due on Tuesday has now been put back to 31 January.



It follows a meeting between the various parties held last week.



Trevor Birch, PKF partner and joint administrator,
said: "Following discussions last week, all parties agreed to ask the
Court for an adjournment until 31 January.



"We have been informed that the judge has granted this request."



PKF have agreed to sell Portsmouth to the supporters'
trust, PST, but it is conditional on the Trust taking control of Fratton
Park.



The club's stadium is controlled by former owner Balram Chainrai.







Who is who in Pompey saga







  • PST

    - The Supporters' Trust hoping to buy Portsmouth Football Club.
  • PKF

    - The administrators dealing with the sale of Pompey.
  • Portpin

    - Former owners of the club, led by Balram Chainrai, who are also vying for control of Pompey.
  • Walker Morris

    - Law firm representing Portpin/Chainrai.
  • Sacha Gaydamak

    - Proprietor of land around Fratton Park owned through Miland Developments.
  • David Rubin & Partners LLP

    - Administrators of Miland Developments.
  • REL

    - Robinson Estates Limited





PKF are attempting to force the
sale of Fratton Park through the High Court but Chainrai - through his
company Portpin - are fighting that sale.



The PST has offered Chainrai, who claims he is owed
£12m by the club, £2.75m for the ground but he has refused to sell and
values Fratton Park at about £9m.



If a judge agrees to force the sale of the ground then an independent valuation will be made.



The League One club - who are said to be £61m in debt -

have been in administration since February 2012

and are facing a second-successive relegation.



Since the original hearing in December, property developer Stuart Robinson has resolved his issues with PKF and has also

exchanged contracts to buy the land

surrounding Fratton Park.



That land is seen as vital to the club's future and, if
Robinson takes control of Fratton Park, it will finally allow the total
redevelopment of the ground.
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