Yet another blow to Portsmouth Football Club has just emerged. After clearing most of the extortionate wage bill and saying goodbye to 8 senior players on the terms of an agreed new buyer, the potential new owners (Portpin) have this afternoon withdrawn their bid.
What does this mean? It seems PFC have only one option left and that is a Portsmouth Supporters Trust led bid. Essentially the club being bought by the fans. As well as fans combined pledging up to £2m and a collaboration of private investors another £1m, Portsmouth City Council agreed to provide a £1.45m bridging loan to the Trust after voting unanimously to help their bid to save the club after recognising how important the club is to the city in terms of business, infrastructure and history.
Some may argue Portsmouth FC don’t deserve such help after the catastrophic financial situations of the last few years, but It’s worth pointing out that was all in the hands of private owners and victim of those who have bled to club dry of all it’s finances and valuable resources.
Now is the chance and I could probably say the last chance for the club to be purchased by the people who care about it most, the fans and the people of Portsmouth.
Find out more about the situation and how you can get involved over at http://www.communitypompey.co.uk/