Pompey reject Vega bid

Portsmouth have turned down a takeover proposal from former Tottenham defender Ramon Vega. Pompey's financial situation has been the subject of media interest for much of the season, with owner Alexandre Gaydamak keen to sell up.Vega emerged as a leading contender to buy the club last week but Pompey have now rejected the offer as they feel he could not provide the necessary assurances.Portsmouth have previously stressed to supporters that Gaydamak will only consider bids which would benefit the club.A statement on the club's official website read: "As Mr Vega was consistently unable to demonstrate an ability to secure financing for his proposal - as had previously been agreed between both parties and which is fundamental to the to the long-term prospects of the club - the board, which includes the owner, decided to reject the proposal unless Mr Vega could satisfy them that the club's future would not be compromised. This was not forthcoming."In addition, the club wishes to re-confirm that it enjoys excellent relations with all its banking partners. "All financial commitments are serviced by the club and there is no truth to suggest that any facilities will be withdrawn."

Source: SKY_Sports