The shareholders of Portsmouth Community Football Club have voted in favour of selling the club to the Tornante Group – owned by the family of Michael Eisner.

A Portsmouth FC statement said:

“Community shareholders in the Pompey Supporters’ Trust – the club’s principal shareholder with 48.5% of the club’s equity – voted 80.3% in favour of the PST selling its stake. 17.3% voted against. Rejected ballots were 2.4%. The turnout was 93.7%.

“Members of the PST voted 80.5% in favour of the club’s 16 individual shareholders (the Presidents) being allowed to sell their respective stakes in the club. 16.7% voted against. Rejected ballots were 2.8%. The turnout was 79.4%.

“In total, 75% of the Presidents have voted to sell their respective stakes in the club, representing 32.9% of the club’s equity.

Together with the PST’s 48.5%, this means 81.4% of the club’s equity holding is in agreement with the sale. The threshold to approve a sale, as laid down in the shareholders’ agreement, is 75%.”

The club will now proceed to negotiate the final terms of the sale with the Tornante Group over the coming weeks.

Comments

comments

LEAVE A REPLY