Portsmouth FC announce huge ownership news - What it means | OneFootball

Portsmouth have confirmed a change in the ownership structure

Portsmouth have been owned by former Disney CEO Michael Eisner since their promotion to League One in 2017.

The American reportedly purchased the club in a deal worth £5.67 million after winning the League Two title.

Pompey spent seven seasons in the third tier of English football before clinching the League One title on their way back to the Championship under John Mousinho.

The 39-year-old oversaw a 16th place finish in the second division in their first year at that level since 2012, and they are now hoping to avoid a relegation battle in the final weeks of the current campaign.

The club’s long-term aim will be to fight for promotion back to the Premier League, with their last top flight season coming in 2010.

They aren't guaranteed to survive this term just yet, with the home straight now coming into play in the Championship.

Portsmouth confirm ownership restructure

Portsmouth have confirmed a change in the structure of the ownership, with Eisner no longer owning 100 percent of the club.

The American has been the sole owner of the side for almost nine years, but he has now passed on a majority of his shares as part of his succession planning.

In a statement released on their website, the Championship side have revealed that the 84-year-old has relinquished 73.5 percent of his stake in Portsmouth LLC equally to his three sons.

This will give the three men, Breck, Eric and Anders a 24.5 percent share each in the Hampshire outfit.

Eisner will retain a 26.5 percent stake in the club, and he maintains 100 percent of the voting rights, meaning he will still control the direction of the team going forward for the time being.

It remains to be seen if this will change as well in the near future, or if he will keep his voting rights for as long as he is involved with the club after he turned 84 last weekend.

The former Disney chief executive is still considered the only holder of a Significant Interest, as per the EFL’s rules.

The club have confirmed that this move has been made as part of their succession plan, as they continue with their long-term plans for Portsmouth.

Eisner has claimed that his ownership of Portsmouth has always been a family affair, and that this move should have no immediate impact on the day-to-day running at Fratton Park.

“From the moment I first began discussions about taking on the ownership of Portsmouth Football Club, I knew this needed to be a family affair,” wrote the owner, via the club’s website.

“I spoke about that with the PST and the fans, at The Guildhall and around Portsmouth.

“My sons – along with my wife, Jane – have played an active role in the ownership of the club and have become avid and dedicated Pompey fans.

Portsmouth ownership change is an acceptance of reality

Eisner turned 84 on Saturday, and he won’t be Portsmouth owner forever, so this move shouldn’t come as a major shock for supporters.

Pompey fans have every reason to be wary of the ownership structure changing because of the impact bad owners had on their stark decline from the Premier League to League Two over a decade ago.

But succession planning is a smart move for the club, and this should be beneficial for them in the long run.

As long as there is no day-to-day changes at Fratton Park, then this move could barely even be noticed by fans, and this level of transparency will be welcome as well.