Portsmouth Football Club supporters are a step closer to taking over the club after it was reported Balram Chanrai was withdrawing his bid. The latest development leaves the administrator only one bid on the table; that of the fans.
They've already pledged almost £2m, with associate directors and investors paying another £1m. Last Thursday, Portsmouth City Council agreed a £1.45m bridging loan to the Trust, in the event of a 'commercial' solution not emerging.
– Trust spokesperson Colin Farmery
"This is the moment we have been waiting for. Fans need to be ready to come up with the money they have pledged. It is a pivotal moment in the club’s history. We welcome the fact Portpin have stated they want to want to help save the club. It is no one’s interests Pompey are liquidated. I am certain Pompey fans, the city of Portsmouth and the wider football family will be able to do what is needed to make Pompey the biggest community club of its type in the UK."