Pompey Supporters Trust has pledged to transform Portsmouth into a club the city can be proud of after an agreement was reached in the High Court yesterday allowing them to take control at Fratton Park.

Portsmouth have become the biggest fan-owned club in the country after it was announced in the High Court that the club’s administrators, BDO, had agreed a settlement deal with Portpin, a holding company run by former club owner Balram Chainrai, Levi Kushnir and Deepak Chainrai, who controlled Fratton Park.

Portpin had placed a value of £10m on the club’s stadium, while Pompey Supporters Trust had bid £3m – and without a compromise agreement the fans’ attempts to complete a takeover would have failed.

Trust chairman Ashley Brown said: “This is a historic day for Portsmouth Football Club and for Pompey fans everywhere.

“At last, the tough work done over the last year is over and we can start to rebuild our club.

“Pompey fans are now days away from owning and running our club and becoming the biggest community owned football club in the country. We have a lot of people to thank, and much more to say, but will do that once the details of today’s settlement are finalised.”