WHY THE POMPEY TRUST ARE STILL VITAL...
REMEMBER Jerry Sherman? Newport fans do. He was the American shyster who bought the club in 1986 promising to build a brand new stadium.
Nobody realised that he was a conman with a string of failed businesses. Having failed to pay wages, Sherman oversaw relegation to the Conference and, eventually, the liquidation of the club. Then there’s Terry Smith, the Glazer family, Randy Lerner, Tom Hicks and George Gillett. Given the track record of American owners, it’s not hard to see why Portsmouth are eyeing the potential takeover of exDisney CEO Michael Eisner with serious caution.
Whatever happens in the coming weeks, it is crucial that the Pompey Supporters Trust – who currently own 48 per cent of the club – retain a significant shareholding.
They are the ones who rescued the club from death’s door. They are the ones who rebuilt from scratch. They must be granted a meaningful say in how the club is run, with no reduction in the three representatives currently on the board.
Eisner, 75, will hold a meeting with fans and shareholders on May 4 in a bid to smooth any worries. But talk is cheap. The PST must ensure their place at the heart of Pompey is legally binding – or run a mile.
BID: Michael Eisner