Portsmouth: Supporters' Trust approves Michael Eisner's takeover proposal

Michael Eisner addresses a meeting of Portsmouth FC shareholders at Portsmouth Guildhall
Michael Eisner's bid was approved by 1,825 of the 2,272 Supporters' Trust shareholders who voted

The Pompey Supporters' Trust (PST) has voted in favour of former Disney chief executive Michael Eisner's proposal to buy the League Two champions.

The trust owns 48.5% of the shares in Portsmouth and has three members on the club's board of directors.

The rest of the club is owned by 16 'presidents', 12 of whom have voted in favour of the deal.

The votes mean the sale of the club can continue, as more than 75% of the equity holding has agreed to the deal.

Eisner and his Tornante investment group have offered £5.67m to buy 100% of the club and invest £10m in equity.

"This is true fan ownership and democracy at work," PST chairman Ashley Brown said.

"Our fans decided who the next owner of our club would be - and it will be Michael Eisner and Tornante.

"We believe he understands the importance of the custodianship of Pompey and will be an owner all fans will be proud of."

Eisner's takeover would mean the removal of the PST's three representatives from the club's nine-member board.

However, he has pledged to form a heritage board which would protect the club's name, colours, badge and guard, while also preventing relocation to a ground more than 15 miles from Portsmouth city centre.

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