Europa League is a 'long shot' says Andronikou
By Site reporter
Tuesday 13 Apr 2010 08:58:00
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Pompey administrator Andrew Andronikou admits the club's bid to play in the Europa League next season is a 'long shot' but is looking forward to the club raking in some much needed cash following the FA Cup semi-final win over Tottenham.

According to sportingintelligence.com the club could net up to £3.2 million if they beat Chelsea on May 15.

'The club makes £450,000 from the FA in prize money for winning the semi, and is guaranteed £900,000 more from the final, that’s the runners-up cash if Portsmouth lost,' Andronikou told the site.

'So that’s £1.35 million, and then there will be £600,000 to £800,000 on top from commercial income, including sponsors’ bonuses kicking in, and when you add merchandising and other bits, we think reaching the final will make £2.2 million, and that would rise to £3.2 million if Portsmouth won the Cup.'

Andronikou is also hoping to maximise the revenue by getting key players to waive contractual entitlements should they appear in the final. Papa Bouba Diop, Kanu, John Utaka, Richard Hughes and Jamie Ashdown are all understood to have such clauses.

However, while Andronikou is confident he will be able to persuade the players, he is less confident about Pompey's prospects of playing in Europe next season. Article continues here.


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Andronikou plans to appeal to the FA to allow the club to compete in the UEFA competition, in spite of the fact the club missed a March 31 deadline to submit its accounts and gain a UEFA licence to compete.

Until the club comes out of administration the question is academic, but Andronikou is hopeful the club might have a Company Voluntary Agreement with its creditors in place by the end of April.

That would be the first step towards the club coming out of administration and with prospective buyers in the wings, the allure of European competition would make the club a more attractive proposition.

Pompey's debts total just short of £100 million, including £17 million to football creditors, who must be paid in full and £14 million to Portpin Ltd, Balram Chainrai's company, which is a secured creditor.

Provided the creditors agree, the remaining £69 million will be paid off at around 30p in the pound. That includes HMRC, who are owed £17 million, although around half this figure remains a subject of dispute.

Former owners Sulaiman Al-Fahim and Sacha Gaydamak are owed £5 million and £32 million respectively.

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