Football

£30 million Pompey have a dozen potential buyers

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Portsmouth administrator Andrew Andronikou has revealed he has heard from 12 parties interested in buying the debt-ridden club.

Pompey went into administration last Friday with estimated debts of £78million, including an outstanding tax bill of £12.1million, but Andronikou claims there has been no shortage of interest.

"We have received about a dozen expressions of interest," Andronikou, who said he now had to assess "the quality of the interest", told Press Association Sport. "We need to sit down first and look at funding."

The administrator revealed he had already met with two parties who had shown him proof of funds and he had sent them away and asked them to bring him even more "transparent proof".

"There is no timescale," Andronikou added.

"We are not rushing. We want to do it properly. We need a measured approach.

"It's about putting the club in the hands of someone who is going to look after it and make sure it's in a good position in three, six, nine months' time."

Andronikou said he could not put a figure on what the club was worth.

There has been some interest from New Zealand businessman Victor Cattermole, while the Intermarket Group who were close to a takeover at West Ham have also emerged as possible investors.

Andronikou, an insolvency practitioner from UHY Hacker Young, maintains Tuesday's High Court appearance, at which a judge ordered another hearing in a fortnight's time to ascertain whether his appointment by Balram Chainrai was valid, will have no bearing on the plans to find a new buyer.

Copyright (c) PA Sport 2009, All Rights Reserved.

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Topics:
Portsmouth
Football
Premier League

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