Friday is D-Day for details of how administration will affect Pompey
By Site reporter
Thursday 25 Feb 2010 16:42:00
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Pompey’s administrator will issue a detailed statement on Friday about how the club will be restructed ahead of a potential sale to a new owner.

The news comes after Pompey confirmed they would go into administration on Friday – meaning they will become the first Premier League club to go down such a route and will suffer a nine-point deduction, dropping their total to seven.


The club have been trying to find a new buyer ahead of a potential High Court winding-up order on Monday. Balram Chainrai announced on Tuesday the club would enter administration on Friday to avoid being wound up if a buyer could not be found.

Negotiations were held with four parties, but the undisclosed buyers failed to prove they had the funds to buy the club by this afternoon’s (Thursday) deadline.

Andrew Andronikou of accountancy firm UHY Hacker Young has been appointed as the administrator. He has previous experience of guiding football clubs through the process.

He said: ‘We made a conscious decision to put it into administration tomorrow morning.’

Andronikou will issue a detailed statement on Friday which will state how he intends the club to be restructured and made attractive for a potential buyer.

It is not known when he is likely to make proposals affecting the behind-the-scenes staff at the club or even the players and management.

Peter Storrie and Mark Jacob appear likely to stay on to help Andronikou with administration. deals

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