Michael Eisner’s Tornante Co. has purchased English soccer club Portsmouth FC, the company announced last week.
Tornante will pay $7.5 million for the club and has committed to about $13 million in future investments.
Beverly Hills-based Tornante invests in media and entertainment companies and co-owns trading card company Topps Co. Inc.
Eisner, a former Walt Disney Co. chief executive, had been negotiating the club’s purchase since the beginning of May when the Pompey Supporters’ Trust, which held a 48.5 percent stake in Portsmouth, voted to sell its shares to Tornante.
Portsmouth, also called “Pompey” by its fans, became the largest fan-owned football team in England in 2013 after the club’s financial struggles stemming from the recession. Tornante will also manage Fratton Park stadium, where the club plays.
– Shwanika Narayan
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