Supporters and shareholders of League Two side Portsmouth have been "presented with the terms of a takeover offer" from former Disney CEO Michael Eisner, according to Adam Williams of the BBC. Eisner and his Tornante investment group are in exclusive negotiations to pay £5.67M ($7.31M) for 100% of the club. The Pompey Supporters Trust, which controls 48% of the club's current ownership structure, "set out the deal in a 48-page document." Eisner, 75, will present his offer in person at a "town hall-style meeting" on Thursday, and also aims to invest an additional £10M ($12.9M) in equity "should the deal go through." The PST is set to recommend to its shareholder members an "all cash now" acquisition option, "giving them a full return on their original £1,000 investment per share." Under Eisner's proposals, there would "no longer be room for three PST members on the club's nine-strong board." They would sit instead on a "newly-created heritage board" to protect matters such as the club's name, colors, badge and moving its home ground more than 15 miles from the Portsmouth city center (BBC, 4/28).
