Portsmouth Football Club had become a Toxic brand - that no-one wanted to do business with. That's the view of the new board, who say they'll do everything they can to make it a club the region can be proud of, once again.
They also announced Guy Whittingham as their manager - as they began life as the country's largest community club. Andrew Pate's been speaking to Director Mick Williams, Chairman Iain McInnes and manager Guy Whittingham.
Portsmouth's new owners have begun the task of rebuilding the club following its spectacular fall from grace.
Guy Whittingham is now the team manager of Porstmouth Football Club. He has been in caretaker charge of team affairs since November.