Date: 19th February 2010 at 12:26am
Written by:

It was my understanding that The Guardian was the paper to ‘watch’ for a potential ‘good news Friday’ article, although it ‘seems’ they have been beaten to the punch by The News who was carrying their own ‘possible’ good news late Thursday article…

The News ‘understands’ that a South African consortium ‘has emerged as the potential saviours of Portsmouth Football Club.’

Consortium close to Pompey takeover – here.

It is ‘said’ that they ‘see investment as a long-term commitment and have already factored in the possibility of playing Championship football next season’ and ‘the consortium – which is chiefly South African but also made up of other nationalities – are eager to complete before the prospect of administration.’

Not only that it is also ‘said’ that ‘it is believed negotiations are well down the road towards finalising a takeover before the weekend is over.’

I would suggest that if you have anything that you can cross you do JUST THAT and cross it…

UPDATE

And now The Guardian HAS come out with their article.

Portsmouth pin survival hopes on fifth owner of the season – here

This is some quotes from it: ‘Portsmouth could have a fifth owner this season after the Guardian learned that Endeavor Plan, a Hong Kong-based investment company, has viewed documents relating to the club’s financial position and has informed Pompey’s chief executive, Peter Storrie, of its interest in buying out the current owner, Balram Chainrai. It has suggested that 30 days’ due diligence may be required before being able to complete.

‘Endeavor Plan, said to have interestsin New Zealand, Hong Kong and the United States, received the documentation from Storrie, who has been conducting negotiations to seek a new buyer or fresh investment alone. He spoke to Endeavor’s owner, the New Zealand businessman Victor Cattermole, earlier this week and Cattermole confirmed his interest in writing.

‘It is understood that Endeavor has said that, should any buy-out be successful, the company is confident of clearing all debts to Portsmouth’s creditors within a year. It is also thought that Endeavor’s interest in buying was included in the statement of affairs lodged with the high court on Wednesday, before Her Majesty’s Revenue and Custom’s winding-up petition, which will be heard on 1 March. The hearing is for £12.1m in VAT, PAYE and National Insurance, though the club are disputing a sum of £7.1m in VAT.’

PLAY UP POMPEY!


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