Oki Renews, Chissick Out At Portsmouth

Oki Printing Solutions has renewed its shirt sponsorship deal with FA Premier
League team Portsmouth although the club has been rocked by the departure of its
vice chairman David Chissick.

Oki will continue its association with Portsmouth until June 2009 after
agreeing a three-year extension to its sponsorship contract which was scheduled
to expire at the end of the current season.

The sponsorship renewal represents the biggest commercial deal in the club’s
history with Oki increasing their investment to a reported £4.5m contract.

However, while the sponsorship renewal is a significant commercial boost to
the club, the shock news of Chissick’s departure has prompted rumours that
millionaire owner Alexandre Gaydamak is planning to sell up.

Gaydamak only took the reins at Portsmouth six months ago after buying
previous chairman Milan Mandaric’s 50 percent majority stake holding in the
club.

Chissick, who was widely known to be Gaydamak’s right-hand man at Portsmouth
and was chiefly responsible for bringing the Russian on board, has formally
stated that the reason behind his departure is to concentrate more on his other
business interests.