Portsmouth reject Swiss takeover bid

The Premier League side says their future could not be guaranteed by the group headed by former Tottenham defender Ramon Vega.

The statement read: “Following recent articles in the press about Portsmouth’s financial position and reports that the club has rejected a proposal from Ramon Vega, the board would like to clarify its position.

“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 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 All financial commitments are fully serviced by the club and there is no truth to suggest that any facilities will be withdrawn.”