Portsmouth: Michael Eisner will not return with second bid if £5.67m offer rejected

Michael Eisner addresses a meeting of Portsmouth FC shareholders at Portsmouth Guildhall
Michael Eisner told current Portsmouth FC shareholders his current offer will be the only one he makes

Prospective Portsmouth owner Michael Eisner says he will not table a second offer if shareholders reject his initial bid for the club.

Former Walt Disney chief executive Eisner presented his terms to a meeting of Pompey Supporters' Trust (PST) shareholders and members on Thursday.

"We're not going to change the offer and we're not going to come back if you reject it," he said.

Eisner has offered £5.67m to buy 100% of the club and invest £10m in equity.

The 75-year-old and his Tornante Investment Group are in an exclusivity period of negotiations until 1 June.

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Michael Eisner: Portsmouth prospective owner outlines vision for club

Eisner told the meeting, attended by about 1,500 shareholders, that he was "sympathetic" to those that felt strongly about rejecting it.

He added: "I feel we've taken into consideration all of the potential of the club and the hard work that has to be done. But, I understand the difficulty for you (PST shareholders) to give up negative control.

"You can go it alone and from what I understand, that would be viable. But, I only want to do this if the majority of people in this city want me to."

Portsmouth, promoted to League One last month and with a chance of winning the League Two title on Saturday, are currently 48%-owned by the PST.

The club came out of administration in 2013 with supporters investing £1,000 per share out of their own pockets to keep it going.

Eisner's offer would allow shareholders a full return on their money, but would remove their three representatives from the club's nine-member board.

A heritage board would also be created to protect the club's name, colours, badge and guard against any possibility of moving to a ground more than 15 miles from Portsmouth city centre.

Shareholders will now vote on Eisner's offer and must return their ballot papers by Friday, 19 May.

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