• ‘My family and I are thrilled to take on this incredible responsibility’ • Fans with stake in club voted in favour of takeover worth £5.67m in May

The former Disney chief executive Michael Eisner has completed his takeover of Portsmouth. The Tornante Company, headed by Eisner, had been conducting its due diligence since May but has now finalised a deal to purchase the League One club reported to be worth £5.67m.

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Eisner and his three sons, Breck, Eric and Anders, will make up the board at Fratton Park along with Andy Redman, president of Tornante, and the club’s chief executive, Mark Catlin.

“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 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.

“The football club wouldn’t be here today if it wasn’t for the against-the-odds commitment of Pompey supporters who came together and saved this club. This is and will always be your team.”

Catlin, who has been chief executive for the past four years, has also entered into a long-term contract to continue in the role and Eisner believes “the arrangement continues Mark’s leadership and ensures the stability of the club for the long term”.

Facebook Twitter Pinterest Michael Eisner worked at Disney for over two decades. Photograph: Ric Francis/AP

In May the Pompey Supporters’ Trust, which held a 48.5% stake in the club, voted overwhelmingly in favour of selling their shares to Tornante.

Portsmouth won promotion last season as League Two champions under Paul Cook, who has since left to manage Wigan Athletic, and they begin their League One campaign at home against Rochdale on Saturday with Kenny Jackett in charge.