Aug. 4 (UPI) -- The Tornante Company has completed the purchase of Portsmouth Football Club.
"My family and I are thrilled to take on this incredible responsibility as stewards of a football club with such a rich heritage," Eisner said in a team statement. "We have come to know the Pompey community in recent months, and we are extremely impressed by their passion, dedication and love for their club."
Tornante was engaged in due diligence since May, when more than 80 percent of the club's equity holding approved the terms of the sale.
Eisner's family will join club management on Saturday for their first match as owners on the opening day of the EFL League One season at Fratton Park. Pompey hosts Rochdale for the match.
Eisner also announced that Catlin entered into a long-term contract to continue his tenure as Pompey's CEO.
"We have been on a remarkable journey, and one that everyone associated with this amazing club should rightly be proud of," Catlin said in a news release.
"It has been an honor and privilege for me personally to represent PFC and our incredible fans during this time. Now we embark on an exciting new chapter in the club's history, and one that, under the stewardship of Michael Eisner, his family, Andy Redman and the Tornante group, I am totally confident will continue to build on the strong foundations that have been built over the past four seasons."
Eisner met with manager Kenny Jackett, the team and club officials for the first time on Thursday.