After being in administration for over a year Portsmouth fans have finally been given the go-ahead to take over the club.
There is good news on the south coast as the Pompey Supporters’ Trust’s (PST) have been given permission at a High Court hearing to take over Portsmouth FC.
The decision ends over a year of uncertainty for the club after they went into administration in February 2012 and have been in financial free-fall ever since.
Since then a supporters group has been trying to take over Portsmouth from former owner Balram Chainrai, in order for the club to try and establish stability and avoid points deductions.
Lawyers representing Chainrai and the administrators have been in discussion regarding the takeover and an agreement has now been reached.
“This is a historic day for Portsmouth Football Club and Pompey fans everywhere,” chairman of the PST Ashley Brown was quoted on BBC Sport.
“Fans are now days away from owning and running our club and becoming the biggest community owned football club in the country.”
The decision gives Portsmouth an opportunity to get out of their current tumble down the divisions since they were relegated from the Premier League in 2010 – which was also the year they went into administration for the first time.
The Hampshire club was demoted from the Championship last year and started life in League One on minus 10 points due to their financial problems.
However, if Pompey can remain in the division this season then the PST will have an opportunity to turn the club around and avoid further pitfalls that come with administration – an issue highlighted by Blue Square Premier side Luton Town.