Source: PA
Portsmouth thankful after future secured
Portsmouth's administrators have thanked former owner Alexandre Gaydamak after a deal was finally agreed to safeguard the club's future.
The club had claimed on Friday evening that they were on the brink of ceasing trading because Gaydamak had refused to sign a deal to sell to Balram Chainrai.
But, after Gaydamak confirmed on Saturday night that he would sign an agreement, the club issued a statement expressing their delight that the issue had been resolved.
"The administrators of Portsmouth City Football Club Ltd are pleased to announce that negotiations between the various parties concerning the sale of the club have now been satisfactorily concluded," the statement read.
"Accordingly, the club has now been formally sold by the joint administrators, Messrs UHY Hacker Young, and will continue to trade outside of administration.
"The administrators would like to thank Mr Gaydamak for his co-operation and assistance in securing the future of the club and acknowledges that he has played an integral part in delivering its survival."
