Executive Transactions Names In The News FFA Records $6.2M Profit For '13-14 La Liga Valencia Discards New Bat Logo Qatar Reveals Third WC Stadium Design Qatar Looks To Enter F1 Circuit Healthpoint Partners With Man City Sony Reportedly Will Not Renew FIFA Deal Portsmouth To Host America's Cup Races BBC To Show All FIFA Women's WC Games
SBD Global/February 25, 2013/FranchisesPrint All
League One side Portsmouth's former Owner Portpin "has asked the Football League to clarify its position on considering new bids for the club," according to the BBC. The League said that "it would not consider offers other than that of the Pompey Supporters' Trust (PST) after this week rejecting a bid fronted by football financier Keith Harris." But Portpin, led by Balram Chainrai, claims that "the League's stance is unlawful." In a statement it suggests that the Harris bid "is better for creditors." Portpin claims that the Harris bid would mean it received £6.3M ($9.6M) for the stadium, as opposed to the £3M ($4.6M) currently being offered by the PST. It claims ruling out consideration of other offers "unlawfully limits the ability of the administrator to fulfil its role in securing the best terms for creditors" (BBC, 2/22). A Portpin spokesperson said: "We have made clear that we are agnostic as to the source of the solution for Portsmouth Football Club and welcome whichever bid offers both the best deal for the creditors of the club and provides the highest degree of certainty for the supporters in bringing Portsmouth out of administration. We are today calling on Greg Clarke, Chairman of the Football League, to commit publicly to the Football League reviewing any bid that is put to it for approval by the administrators" (PA, 2/22). In London, Richard Palmer reported the Football League's stance has infuriated Portpin, which said in a statement Friday that "it believed the League was unlawfully limiting the ability of Pompey's administrators, insolvency specialists PKF, to secure the best terms for creditors." The statement said: "It is also likely that if the League does not make clear that it will consider any bid put forward by the administrator in accordance with its own charter, it will leave itself exposed to legal action for damages from creditors which could amount to millions of pounds." But a source close to the negotiations said: "The League has taken copious legal advice on this and won't budge." It is understood that Portsmouth City Council, which has offered the Trust a £1.45M ($2.2M) loan to buy Fratton Park, "has also been threatened with legal action but has stood firm, confident in the legal advice it has received" (EXPRESS, 2/22).
Ligue 1 Paris St. Germain officially unveiled its new logo which will go into effect next season. The club has chosen to capitalize on the strongest element of its brand: the city of Paris itself. The new emblem thus has the name "Paris" clearly brought to the forefront, with the Eiffel Tower at the heart of the logo. The base of the logo has the name "Saint Germain," which continues to be associated with the brand, along with the fleur de lys symbol. PSG President Nasser Al-Khelaifi said, "The evolution of the Paris Saint-Germain logo marks an important stage in the implementing of our ambition: namely making Paris Saint-Germain one of the world's greatest sporting brands" (PSG). LE FIGARO spoke with PSG Dir General Jean-Claude Blanc about a number of topics and below are some highlights of the interview. On the new logo highlighting the Paris brand: "At a moment where Paris St. Germain is transforming itself, it was indispensable to revisit the graphic symbols that represent the image of the club. It is an evolution but not a revolution. We want to preserve the roots of the club." On the ambitions of the club: "The ambition, is to quickly enter the closed circle of the top five European clubs. We want to build a worldwide brand. It is a new strategy in France." On the int'l development of the PSG brand: "We want to see the club's revenues progress. Developing international partnerships is an important element. To achieve this, we have to win quickly in terms of notoriety. The impact of the Paris brand and the important players that wear it now allows us to go into specific markets we have identified in order to sign local deals to diffuse the image and products of the club" (LE FIGARO, 2/22).