Former Disney CEO Michael Eisner "is poised to take control" of League Two side Portsmouth after the Pompey Supporters' Trust voted to sell its 48.5% share on Monday, according to Neil Robinson of REUTERS. The decision "paves the way" for Eisner to "complete a summer takeover of the largest club under fan ownership in England," adding another "colorful chapter" to one of football's "most famous old names." PST Chair Ashley Brown said, "This is true fan ownership and democracy at work. We believe he (Eisner) understands the importance of the custodianship of Pompey and will be an owner all fans will be proud of" (REUTERS, 5/22). The London GUARDIAN reported the supporter shareholders "were presented with a 48-page document" as California-based Eisner, whose 70-day exclusivity period runs until June 1, "also aims to invest" an additional £10M ($13M) in equity should the £5.67M ($7.37M) deal go through. The 2,272 PST shareholders had until Friday "to cast their vote on the offer of Eisner’s Tornante investment group" to buy 100% of the '08 FA Cup winner. There was a 93.6% turnout, with 1,825 shareholders voting to sell the PST shares. The club's 16 individual shareholders -- "the Presidents" -- have "also agreed to sell their stakes" (GUARDIAN, 5/22). The BBC reported Eisner's takeover "would mean the removal of the PST's three representatives from the club's nine-member board." However, he "pledged to form a heritage board" which would protect the club's name, colors, badge and guard, "while also preventing relocation" to a ground more than 15 miles from the Portsmouth city center (BBC, 5/22).
