Who Values Pompey?
The battle for the soul of football took one step in the right direction yesterday. The nomination of Pompey Supporters Trust as the preferred bidder for the club is a stunning volte-face in the negotiations to bring the club out of administration. It appears to have been done in the teeth of a vigorous campaign by three-time previous owner Portpin to gain control of the club for a fourth time. Portpin’s directors, Balram Chainrai and Levi Kushnir have been involved in the causes behind both of Pompey’s administrations in the last three years. They are seeking a fourth term of ownership in order to protect their financial involvement in the club. The Supporters Trust have put together a community bid based on community shares and the involvement of local businessmen and wealthy Pompey fans. In the biggest fan community-based bid in the history of the Trust movement, the Trust have matched Portpin in every respect except one, the valuation of Fratton Park as an asset of the club. Despite the preferred bidder status conferred on the Trust by the administrators, Portpin do not appear to be ready to concede gracefully. But then, there has been nothing graceful about their campaign preceding this announcement either. There really could be no more diametrically opposed opponents in the battle for ownership. Value, values and valuation have truly been the weapons of choice....
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