The administrator of Portsmouth has said the clubs future will go to the “11th hour”.
Trevor Birch, head of PKF insolvency practice has warned that the club will go into liquidation if events go against the cash strapped club. Pompey where relegated to League One after the club went into administration for the second time within two years back in February.
“I think it is going to go to the wire, it’s going to be the 11th hour, the Football League’s AGM is at the end of the month and we have to be talking in some sort of positive terms to move beyond that.” said Birch.
Portsmouth Supporters’ Trust (PST) are hoping to takeover the ownership of the club. PST chairman Ashley Brown is hoping to get one thousand individuals willing to pledge £1,000 each for shares in order to launch a plausible bid for the club.
“We are very positive about the response and we are also looking at other funding streams, such as other Pompey fans who can afford significantly more than £1,000, and different ways in which they can invest.” said Brown.
“If the administrator is forced to move to liquidation we would still hope to be in a position to rescue the club from the liquidators and start a new Portsmouth Football Club, hopefully still at Fratton Park, but playing lower down the league tier initially. We hope to offer a safety net if all else fails.” added the PST chairman.