Pompey administration expected to get HMRC approval

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Portsmouth expect to be told today that Her Majesty's Revenue and Customs accept the club have entered administration legitimately.

Pompey have a nine-point deduction in the Barclays Premier League hanging over them for entering voluntary administration, but the validity of Andrew Andronikou taking charge of their affairs was challenged by HMRC.

However, Andronikou said: "We had a very constructive meeting with HMRC on Tuesday and the company have provided a detailed analysis of its financial transactions with Portpin Limited, the chargeholder in this matter."

He added: "HMRC should be now be satisfied that the said debenture is valid and according our appointment is valid. We are hoping this matter will be resolved shortly."

The "constructive" meeting with HMRC was confirmed at the announcement of 85 redundancies, although chief executive Peter Storrie will remain in his job while the club attempt to find a buyer.

Storrie, whose salary when Pompey won the FA Cup in 2008 was widely reported as £1.2million including bonuses, has agreed to take a 40% pay cut, while 'one or two' players have discussed a reduction in wages to help the plight of the Barclays Premier League's bottom club.

"He (Storrie) is still chief executive today," said Andronikou.

"He is still earning a wage and having spoken to Peter he would like it known he has taken a 40% cut in his basic wage. As regards to his basic wage he will be earning significantly less than £500,000. I don't believe there will be any bonuses this year."

Storrie has already stated he will resign when a fifth owner of the season is found, although his presence at the club could anger some fans due to his role during Pompey's financial meltdown.

While Storrie and the club's players remained in jobs, 85 from around 280 non-playing positions were made redundant and 12 members of staff are on reduced hours. There will also be discussions about staff taking wage deferrals.

"There is always a day in the administration when you have to look at yourself and wonder whether you like the job you do, but it is a necessary job," said Andronikou, who said he could not estimate the total savings of the cuts.

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

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