Cala says he'll pull out of Pompey takeover if not done this week

POMPEY'S prospective new owner says he expects to complete the deal this week '“ but has threatened to pull out if negotiations continue for longer.

Joseph Cala, the American Sicilian businessman claiming to be the front runner to take over the club, said he is set to fly in to London tomorrow or Thursday to seal the takeover.

Mr Cala, who The News revealed last week to be interested in taking the reins at Fratton Park, said: ‘If the deal is not done by Friday I am out because the window of trading players is almost over. It would be hard to continue with the programme without the ability to bring in players.’

The 50-year-old revealed his plans to float Pompey as a public company in the USA last week. Mr Cala said if he does sign the deal this week, he is aware of investors who will be willing to put money into the club.

He said: ‘Everyone needs to stop thinking about money because that’s why clubs are going broke. I am going to spend money wisely.

‘I am not saying I am not going to spend money but I am saying it’s the gasoline. You have to build the Ferrari and then have the best driver.’

The club is up for sale because previous owners CSI went into administration last year.