Portsmouth put up for sale
Gaydamak wants to find a buyer who can help Pompey move forward
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Sunday, 07, Dec 2008 09:06
Owner Alexandre Gaydamak has put Portsmouth up for sale, claiming he no longer has the time required to oversee the day-to-day running of the club.
Gaydamak said that he had come to the realisation over time but said he was not in a rush to sell the club and would only relinquish control once the right investor had been identified to secure its long-term future.
He told the Sunday Mirror: "I think it's only right to consider the sale of the club to a group or individual who can come in and invest the time and money to ensure the club reaches its true potential.
"First and foremost it is far more important for me to find the right buyer, with the club's best interests at heart, rather than sell out at the first opportunity."
Gaydamak plans to sell so that he can spend more time with his other business interests during the current economic downturn.
The Pompey chief said that his organisation was not the only one being affected and he was simply making the decision that was in the best interests of the club.
He added: "The credit crunch is having an adverse effect on everyone but we are addressing the key issues affecting every single club and readjusting accordingly."
Gaydamak insisted that the sale of the club did not mean they were in any financial difficulties and stressed that part of the conditions of sale were that the new owner was committed to redeveloping Fratton Park and building new training facilities.
Although Gaydamak did admit that those plans could have to be postponed temporarily he insisted they remained "imperative" and that he wanted "cast iron assurances" from any new investor.
Gaydamak said he had recently declined two offers to buy the club but felt they were not right for the long-term future - suggesting that those bidders did not share his plans for the stadium.
He said: "I have already rejected two very good offers for the club because I didn't feel the buyers motives were in the best interest of the club's long-term future.
"Making money from the sale of the club does not interest me. Finding the right buyer is far more important."
Gaydamak added that there would not be a fire sale of players in the January transfer window either - despite the club being for sale.
He said: "We are not in financial meltdown and it is nonsense to suggest we have to start selling key players."
Finally, Gaydamak also gave his backing to new manager Tony Adams, who he said was the one outstanding candidate to take charge after Harry Redknapp left for Tottenham Hotspur.
"He [Adams] is bright, innovative and committed and I have tremendous respect for him and faith in his ability to be a major success at this club," concluded Gaydamak.