The company behind TT TV firm North One has stepped in to buy Portsmouth Football Club.

Convers Sports Initiatives, owned by Russian businessman Vladimir Antonov, has been given the go ahead to take over Pompey by the Football League.

Mr Anotonov says after looking at a number of clubs, he selected Portsmouth because of its history, fan base and potential to return to the Premier League.

Convers Sports Initiatives are deeply involved with the Russian Ferrari race team and Spyker Squadron motorsports team, as well as North One Sport.