Thursday, July 8, 2010

Portsmouth face drop as nine-point penalty looms for going into administration

By Paul Kelso 719PM GMT sixteen March 2010

Portsmouth face dump as nine-point chastisement looms for going in to administration department department In a turn Portsmouth director Andrew Andronikou attends the club"s compare opposite Liverpoo Photo GETTY IMAGES

Her Majesty"s Revenue and Customs on Tuesday rigourously withdrew the objections to the conditions of the club"s administration department department at the High Court, opening the approach for the League to levy the nine-point chastisement stipulated in the rules.

The justice systematic the administrators to form a creditors cabinet so that those due a sum of �84 million are entirely sensitive as director Andrew Andronikou seeks a buyer.

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Andronikou will encounter the Premier League on Wednesday to plead the club"s position, and whilst he is approaching to disagree for the points chastisement to be waived it seems sure to be imposed. This will revoke Portsmouth"s sum for the deteriorate to 10 points, seventeen points adrift of safety.

Meanwhile, talks have started in between Andronikou and a consortium led by Rob Lloyd. The organisation was approaching to board a �3 million deposition on Tuesday in sell for a 30-day disdainful traffic period.

"We are removing the lawyers, the accountants, auditors involved, we are only seeking at the total due diligence, branch stones and anticipating out all the nitty dirty of the club, seeking at authorised agreements and that is where we have to see really closely with the administrator," he is reported as saying.

"I am sure, meaningful my career in property, there are regularly going to be problems unearthed and that competence be looseness agreements, authorised contract agreements, players" contracts, we need to do the total thing."

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