Michael Eisner completes takeover of Portsmouth

Former Walt Disney chief executive Michael Eisner has completed his takeover of Portsmouth.

Eisner's Tornante Company has been conducting its due diligence since May and has now finalised a deal to buy the League One club for a reported £5.67m.

Eisner said: "My family and I are thrilled to take on this incredible responsibility as stewards of a football club with such a rich heritage.

"We have come to know the Pompey community in recent months, and we are extremely impressed by their passion, dedication and love for the club.

"The football club wouldn't be here today if it wasn't for the against-the-odds commitment of Pompey supporters who came together and saved this club. This is and will always be your team."

The board will be made up of Eisner and his three sons along with Andy Redman, president of Tornante, and Mark Catlin who has been Portsmouth chief executive for the past four years.

Catlin added: "We have been on a remarkable journey, and one that everyone associated with this amazing club should rightly be proud of.

"It has been an honour and privilege for me personally to represent PFC and our incredible fans during this time.

"Now we embark on an exciting new chapter in the club's history, and one that, under the stewardship of Michael Eisner, his family, Andy Redman and the Tornante group, I am totally confident will continue to build on the strong foundations that have been built over the past four seasons."

Portsmouth were promoted to League One last season and the Eisner family will be present at the opening match of the new campaign at home to Rochdale on August 5.