In an exciting turn of events, the Pompey Supporters’ Trust (PST) have voted their approval of former Disney CEO Michael Eisner’s proposal to buy Portsmouth Football Club: £5.67million bid from Eisner’s Tornante investment group.
Community shareholders in PST — Portsmouth Football Club’s principal shareholder, with 48.5% of the club’s equity — voted 80.3% in favour of PST selling their stake. 17.3% voted against. Rejected ballots were 2.4%. The turnout was a resounding 93.7%.
75% of the club’s presidents have voted to sell their stakes in the club — that’s 32.9% of the club’s equity.
This will bring a close to the era of community ownership which has been in place since April 2013.
Trust chairman Ashley Brown said in a statement: “This is true fan ownership and democracy at work. Our fans decided who the next owner of our club would be — and it will be Michael Eisner and Tornante. We believe he understands the importance of the custodianship of Pompey and will be an owner all fans will be proud of.”
The club will now negotiate the final terms of the sale with Eisner’s Tornante Group over the coming weeks.
More than 1,500 Portsmouth Football Club (PFC) shareholders and Pompey Supporters’ Trust (PST) members congregated at Portsmouth Guildhall on Thursday 4th May 2017 to hear Michael Eisner present his vision for the future of Pompey.
Eisner praised the efforts of the PST and the unrelenting work that was put in by everyone involved to save the club. This was met with rapturous applause from the crowd.