Fl Reiterates Pompey Point Deduction
The Football League has reaffirmed its intention to dock Portsmouth Football Club 10 points when they come out of administration, although the Pompey Supporters’ Trust, who are currently in the process of a takeover bid, have revealed that the decision was always expected.
The south-coast club have been in administration since February and are £61m in debt, with the potential takeover by the Pompey Supporters’ Trust (PST) conditional on administrators forcing the sale of Fratton Park.
The PST signed a conditional agreement with the club administrators to take over the club in November.
Portsmouth, who currently sit in 20th position, would drop deep into the League One relegation zone with a 10 point deduction.
Meanwhile, administrators of the club, PKF, will attempt to force the sale of Fratton Park at the High Court on Thursday. If the judge agrees, an independent valuation will then be made leaving the PST free to complete the takeover of the club.
Fratton Park is currently controlled by Balram Chainrai, who is owed around £12m by the club and holds the stadium as security.
Pompey’s points deduction had been suspended but the Football League confirmed it will still be applied while also adding there will be further punishments against the club such as restrictions on playing budgets and future borrowing for the next four seasons.
Ashley Brown, chairman of PST, said in a statement: ‘We are very pleased The Football League has shown confidence in our bid by endorsing our proposed membership. This is a highly significant moment for the club.’
‘We have always argued that Pompey needs a community-led solution and we are very pleased the league shares our confidence in our ability to turn the club around. Thanks to the backing of our fans and our individual investors we have a robust business plan, which the league has endorsed.’
