Portsmouth has been owned by former Disney CEO Michael Eisner since they were promoted to League One in 2017.

The American reportedly paid £5.67 million for the team after winning League Two.

Pompey played seven seasons in English football’s third division before winning League One and returning to the Championship under John Mousinho.

The 39-year-old oversaw a 16th-place finish in the second tier in their first year there since 2012, and they are now aiming to avoid relegation in the closing weeks of the current season.

The club’s long-term goal is to compete for promotion back to the Premier League, where they last played in 2010.

They are not assured to survive this season, as the Championship now includes the home straight.

Portsmouth confirms ownership reorganization.

Portsmouth have acknowledged that Eisner no longer owns 100% of the club.

The American has been the side’s only owner for nearly nine years, but he has now sold the majority of his shares as part of his succession plan.

According to a statement on their website, the 84-year-old has given up 73.5 percent of his interest in Portsmouth LLC to his three sons.

The three men, Breck, Eric, and Anders, will each own 24.5% of Hampshire.

Eisner will retain a 26.5% investment in the club, as well as 100% voting rights, implying that he will continue to determine the team’s destiny for the foreseeable future.

It remains to be seen whether this will alter in the near future, or if he will retain his voting rights for as long as he is affiliated with the club, having turned 84 last weekend.

According to the EFL’s guidelines, the former Disney CEO remains the sole holder of a Significant Interest.

The club has stated that this decision was made as part of their succession plan, as they continue to develop long-term ambitions for Portsmouth.

Eisner has stated that his ownership of Portsmouth has always been a family affair, and that this transfer will have no immediate effect on the day-to-day operations at Fratton Park.

“From the moment I first began discussions about taking over ownership of Portsmouth Football Club, I knew it had to be a family affair,” the owner stated on the club’s website.

“I discussed that with the PST and the fans at The Guildhall and throughout Portsmouth.

“My sons, together with my wife, Jane, have taken an active position in the club’s ownership and have become die-hard Pompey fans.

“This change in the ownership structure puts on paper what has existed from the very start – a family focused approach to the ownership of this club.”

Portsmouth’s ownership transition represents an acknowledgment of reality.

Eisner turned 84 on Saturday, and he won’t remain Portsmouth’s owner indefinitely, so this move shouldn’t surprise fans.

Pompey fans have every reason to be concerned about the ownership structure altering, given the impact poor owners had on their rapid collapse from the Premier League to League Two more than a decade ago.

But succession planning is a wise decision for the club, and it should benefit them in the long run.

As long as there are no day-to-day changes at Fratton Park, fans will barely notice this adjustment, and this level of transparency will be well appreciated.