SA gold men linked to Pompey

News

According to a report in The Times of London today, the consortium, that been linked to a gold-mining business, is understood to have approached Portsmouth with a view to buying out Alexandre Gaydamak, the owner.

The Times revealed in January that Gaydamak would be willing to listen to offers, which was confirmed by Harry Redknapp, the former manager, after he left the club for Tottenham Hotspur last month.

It was believed that the asking price was £60 million, but the financial situation and the club’s debts and large wage bill – it was recently suggested that wages represented more than 90 percent of turnover – have made a sale more urgent.

Keith Harris, an investment banker and chairman of Seymour Pierce, was attempting to find a buyer on behalf of Gaydamak, but had been unsuccessful even at a knockdown price of £18 million, the loans taken out by the club to fund player purchases being the likely sticking point.

The new offer for the club that is lying 9th on the Premiership log, however, is not one that Harris has brokered.

Early in October a South African consortium, headed by frontman Jonathan Cleland made a bid for Newcastle United, however but nothing came of it.

South African billionaires, Johan Rupert and Vivian Immerman along with BidVest chief Brian Joffe, all denied being part of Cleland’s venture.

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