Group of Portsmouth fans set to take over club

A group of fans are set to take over financially-challenged Portsmouth. (AP/Kirsty Wigglesworth)
April 10, 2013, 1:28 PM

LONDON — A group of fans is to take control of Portsmouth in what is calls a “ground-breaking” move for English football that should safeguard the future of the 2008 FA Cup winners.

Now in the third tier, Portsmouth was the first Premier League club to enter bankruptcy protection in 2010 when it was also relegated from the topflight in financial ruin.

Despite exiting bankruptcy protection in 2010, Portsmouth has been back in administration since February 2012 but has now been saved by the Pompey Supporters Trust.

The fans have been given the go-ahead to take over the south-coast club after an agreement was struck with former owner Balram Chainrai over a dispute relating to the Fratton Park stadium’s ownership.

Trust member Jo Collins says “this is ground-breaking for football clubs.”

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