Why Pompey are on course to avoid new points deduction
By Site reporter
Tuesday 20 Apr 2010 22:51:00
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The men running Pompey while they are in adiminstration remain confident they can get a document drawn up which will save the Blues another points deduction at the start of next season – this despite a report claiming the club’s debts now total close to £120m.

Andrew Andronikou is submitting a report to the club’s creditors outlining the debts and plans for a Creditors’ Voluntary Agreement, which is aimed at getting a majority of those owed money to agree to accept a proportion of what they are owed.


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If the CVA is agreed, Pompey seem set to start next season on zero points. Clubs who have not come out of administration with a CVA in place have suffered extra points penalties, something that would seriously harm Pompey’s attempts to stabilise in the Championship next season.

New figures now show debts now total approximately £120.3m – that’s just a few weeks after the total was said to be a shade below £80m. It figure includes £92m owed to unsecured creditors, including former owners, £14.2m to Balram Chainrai and a further £14.1m to other secured football creditors that include previous player transfer payments.

‘Our proposal is to present a CVA (Company Voluntary Arrangement) to the creditors,’ administrator Andronikou told Sky Sports News.

‘If the creditors accept the proposals on May 6, then they will receive the proposals and a further meeting will be convened towards the latter part of May or early June.’

If the CVA proposals are accepted at that meeting, 75 per cent of creditors voting at the meeting need to accept, then the club will exit administration.

The club's creditors are due to meet on May 6 at Fratton Park.

Andronikou has also said they are no nearer clinching a buyer for the club that they were when the administrators first arrived at the club two months ago.

There’s progress with regard to on-field matters, though. Lens have confirmed they will allow Aruna Dindane to play in the FA Cup final, and with the administrators saying no key players will be sold before then, it looks like Avram Grant will have something like a full squad to choose from.

Meanwhile, three of the five players nominated for the FA Cup player of the round award from the semi-finals are Pompey’s – David James, Aaron Mokoena and Ricardo Rocha are all up for the honour, along with Spurs’ Gareth Bale and Chelsea’s Didier Drogba.

This follows Frederic Piquionne winning the quarter-final award.

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