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Thu 14 Feb 2013

Hearing over Portsmouth FC stadium held

  • By Mohammed Sheriff and 1 other
  • Last update: 2 years ago
  • London, England, United Kingdom

Fratton Park

flickr-bhhardinge

A court hearing into the sale of Portsmouth Football Club's stadium, Fratton Park, takes place after being postponed in December and January.

The ground is controlled by the club's former owner Balram Chairtai's Portpin company, the largest creditor in the administration process. 

Portsmouth FC, which has debts exceeding £60 million, owes Portpin around £20 million, with the company also holding Fratton Park as security.

Another party, P & A, has claimed that Portpin wanted it to control the club's finances until a buyer was found, rather than PKF. 

The court hearing will determine whether administrators PKF can sell the ground at the market rate. Previous offers of £2.75 million by the trust have been turned down.

www.bbc.co.uk - Portsmouth: High Court hearing adjourned for third time on 2013-01-30

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