Pompey For Sale

A Statement From PFC.

Following recent articles in the press, notably The Observer and News of the World, Portsmouth Football Club categorically deny that any discussions are ongoing with the South African consortium regarding an acquisition of the club.

While the consortium did express an interest a number of weeks ago no offer has been received, nor has there been any further contact with them and today’s reports are entirely misleading and incorrect.

Alexandre Gaydamak has accurately reported the current situation in an article in the Sunday Mirror (also featured on this website) which is in contrast to the misleading reports that seem to emanate from ill-informed agents and their representatives.

Portsmouth Football Club considers itself privileged to have Tony Adams in charge of the team. Tony is a manager able to deliver performances like that recently displayed at Fratton Park against AC Milan.

The club’s board wish the team, and Tony in particular, all the best for the remainder of the season and beyond, including this season’s defence of the FA Cup.

And this from Alexandre Gaydamak.

Alexandre Gaydamak has put Portsmouth Football Club up for sale.

The club’s owner has already rejected two offers because he is determined to find the right buyer who can build on the outstanding work he has done at Fratton Park.

Gaydamak cited growing business commitments for his decision but admitted it would be tough to leave a club “with the best supporters in football”.

He said the buyer had to guarantee their commitment to a new stadium and training ground for the club.

“I have come to realise over a period of time that I can no longer invest the time required to oversee the running of the club,” Pompey’s owner told the Sunday Mirror.

“I think it’s only right to consider the sale of the club to a group or individual who can come in and invest the time and money to ensure the club reaches its true potential.

“First and foremost it is far more important for me to find the right buyer, with the club’s best interests at heart, rather than sell out at the first opportunity.

“I have already rejected two very good offers for the club because I didn’t feel the buyers motives were in the best interest of the club’s long term future.

“Making money from the sale of the club does not interest me. Finding the right buyer is far more important.

“The credit crunch is having an adverse effect on everyone but we are addressing the key issues affecting every single club and readjusting accordingly.

“I have a very fit and able board that have worked tirelessly to evaluate the current financial problems impacting on everyone and deal with them accordingly.

“We are not in financial meltdown and it is nonsense to suggest we have to start selling key players.

“As regards the stadium and new training ground it is sensible to revaluate things in the current market, but I stress that it is imperative that they go ahead.

“And until I find a buyer who will give me cast iron assurances that this will be the case, I will remain at the club.”

Gaydamak brought into the club in January 2006 and became the sole owner later that year.

During his tenure Pompey have become an established top-10 Premier League club, won the FA Cup and played in a major European competition for the first time.

Gaydamak said: “Only last week during the historic game against AC Milan it dawned on me just how heartbreaking it will be when I eventually have to leave.

“The hardest part being that I am walking away from the best supporters in football.

“Last season’s success was one of great personal satisfaction, one of the proudest moments in my life.

“But I would like to think I am leaving the club in far better shape and with immense future potential.”

Gaydamak said the team was in safe hands under Tony Adams, who he appointed manager in October.

He said: “There was one outstanding candidate for the job – Tony Adams.

“He is bright, innovative and committed and I have tremendous respect for him and faith in his ability to be a major success at this club.”