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Sunday, March 14, 2010portsmouthfootballbusinesssport

Reality TV's Rob Lloyd 'making all the running' to buy Portsmouth

Television's now not-so-Secret Millionaire is trying to rescue Portsmouth FC, according to the News of the World. In a case of life imitating art, the Cheshire property developer Rob Lloyd – who lived incognito in a deprived area for the Channel 4 programme, secretly giving away thousands to the needy – is leading a consortium that are now favourites to buy the stricken club. Lloyd is said to have pledged £10m up front, with money from a New York hedge fund to cover the club's debts, reported to be around £80m. Portsmouth's administrator, Andrew Andronikou is quoted in the NoW as saying: "They only came to the table on Friday but they are making all the running. "I've seen documentary evidence that they have the funds available. I have asked for a non-refundable £3m-a-month deposit." That money will give Lloyd's group a fortnight's first refusal on Portsmouth. Exactly why a Liverpool supporter whose own business recently had its bank funding withdrawn is interested remained unclear. Lloyd is due to meet fans' groups today. "I can't do this unless I know I have the fans onside," he said. "It can't be a hostile bid." The NoW reported that the deal will include building a new stadium. "I know for sure the money is there," said Lloyd. "This is a huge representation. We are talking billions of pounds." However, Andronikou later expressed surprise that news of Lloyd's interest had been made public before any official bid had been made. The administrator said he had yet to be formally contacted. "I find it really strange he has taken this route," he said. "I want to hear from him as I have not actually spoken to him at all. I am waiting for his phone call."

Source: The Guardian ↗

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