The votes have been cast and counted - and Michael Eisner will be the new owner of Pompey.
In line with results widely expected, just over 80 per cent of shareholders voted to accept the £5.67m bid to buy Portsmouth Football Club by Eisner and his Tornante Group.
The news was announced on Monday afternoon by the Pompey Supporters' Trust, who immediately wished the owners-in-waiting well and said they looked forward to working closely with them.
A statement issued by the PST gave the breakdown of votes. It said: 'Over the last two weeks, 2,272 PST shareholders have cast their vote to determine the outcome of the Tornante bid for Portsmouth Football Club. Following a 93.6 % turnout, 1,825 shareholders voted to sell the PST shares.
'On Saturday, the PST Secretary informed Portsmouth FC of the outcome of the vote and the wish to sell the PST's 48.5% shareholding to Tornante. 75% of the Presidents have voted to sell their respective stakes in the club. Together with the PST’s 48.5%, this means 81.4% of the club’s equity holding is in agreement with the sale. The threshold to approve a sale, as laid down in the shareholders’ agreement, is 75%
'Discussions around the sale will now begin with Tornante representatives and the timeline will be managed by Tornante.'
PST chairman Ashley Brown told the PST website: 'This is true fan ownership and democracy at work. Our fans decided who the next owner of our club would be - and it will be Michael Eisner and Tornante. The Trust board would like to wish Michael the very best of luck. We believe he understands the importance of the custodianship of Pompey and will be an owner all fans will be proud of. We look forward to working with him, his family and Tornante for many years to come.'
The PST statement added: 'Our Trust Directors on the PFC board will remain in place during the transition period and will be working to find ways to enable Michael Eisner to assist the coaching staff in their close season planning ahead of the deal closure. After such a tremendous season, we would like to thank Paul Cook, his coaching team and the players for the fantastic job they have done, and wish them all the very best of luck in League One. The board would also like to thank Iain McInnes for his passionate and focused leadership as Chairman of Pompey.
'Most importantly, we would like to thank you, the shareholders, fundraisers, syndicate members and fans whose incredible support allowed a fan owned club to recover from a perilous state to become Champions of League Two.'
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