Convers Sports Initiatives (CSI) co-owned by London-based Russian businessmen Vladimir Antonov and Roman Dubov have bought Portsmouth Football Club from Sports Holdings Ltd., the club's official website said.
Portsmouth announced that after months of negotiations, the Football League allowed Dubov and Antonov to buy 100 percent of its shares. The football club was said to be in financial ruin in the Premier League.
The final price of the deal was not revealed.
Antonov says CSI held negotiations with several teams in England's top three divisions and the Scottish Premier League but "ultimately selected Portsmouth Football Club because of its history, loyal fan base and its potential to return to the Premier League."
Portsmouth chief executive David Lampitt told the club's official website he is looking forward to working with the new owners and thanked their predecessors for the job they did.
"I am pleased to welcome the club's new owners and very much look forward to working with them."
MOSCOW, June 1 (RIA Novosti)
