Lib Dems throw good money after bad

Portsmouth City Council approve Supporters' Trust loan

Portsmouth City Council has agreed to loan the Pompey Supporters' Trust (PST) £1.45m so it can put together a deal to buy the club from Balram Chainrai.

The PST has offered Chainrai £2.75m for the club, including Fratton Park, but need a temporary bridging loan to help make up its offer for Pompey.
The Trust says it has raised £3m in pledges, with £1m on deposit already.
The loan comes with requirements such as the Trust obtaining the remaining £11.7m in parachute payments.


Why do Lib Dems spend council tax payers' money on rescuing failing football clubs and cricket grounds?  Both Ageas Bowl and Portsmouth Football Club are disastrous financial investments, which proves that Lib dems are not competent to manage our money.