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League will not accept any new bids for Pompey
6:32pm Thursday 7th February 2013 in Local Football
The Football League has confirmed it will not consider any new bids for Portsmouth after administrators confirmed an approach from football financier Keith Harris earlier today.
In a statement issued this evening, the Football League said: "At its meeting in London earlier today, the Board of The Football League was appraised of the current situation regarding the administration of Portsmouth Football Club in light of media reports that the Administrator, PKF, is considering a new offer for the Club.
"The League had previously been informed by PKF that its preferred bid for the Club was from the Pompey Supporters Trust (PST) and all parties have been focussed on a successful transfer of share to that consortium.
"Given that The Football League's Insolvency Policy prohibits a club from beginning two consecutive seasons in administration, the Board took the view that any change of preferred bidder at such a late stage would only create further uncertainty and was not in the wider interests of The League and its member clubs.
"Therefore, The League has informed the Administrator that it will not currently consider transferring the Club's share in The Football League to a new bidder. This means that in the event that the PST bid does not succeed and Portsmouth do not exit administration before the end of the current playing season, the Club will lose its membership of The Football League."