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SBD Global/March 11, 2013/Franchises

Pompey Supporters Trust Close To Completing Takeover Of Portsmouth

The Pompey Supporters Trust has taken a "significant step" towards completing its takeover of the "stricken south coast club" after exchanging contracts with the administrators PKF, according to Owen Gibson of the London GUARDIAN. The two parties have exchanged contracts pending a high court case on April 10 or 11 that will rule on whether the former Owner Balram Chainrai is "required to sell Fratton Park to the fans' group" for the £3M ($4.5M) that it believes it is worth rather than the £10M ($15M) he has valued it at. By exchanging contracts, "any uncertainty over whether PKF might change its mind at this late stage or surrounding a rival bid by a consortium led by the football financier Keith Harris is removed" (GUARDIAN, 3/8).
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