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Businessman Victor Cattermole hopeful of Pompey deal

Fratton Park
Fratton Park has had four different owners already this season

New Zealand businessman Victor Cattermole claims his consortium "are still interested" in buying Portsmouth.

Cattermole's Endeavour Plan group was one of four interested parties unable to agree a deal last week as the debt-laden club went into administration.

But Cattermole said talks had been reopened with administrator Andrew Andronikou on Monday, and claimed the chance of a deal "is quite good".

"I really don't think the situation is as bad as people think," he added.

Pompey, who have had four owners this season, became the first Premier League in history to enter administration on Friday.

The club claimed last week that a sale was not possible as none of the parties had provided the club's chief executive Peter Storrie and current owner Balram Chainrai with proof that funds were in place.

However, Cattermole contradicted this, saying: "We provided evidence of an offer for a bank facility of 200m euros (£181m) last Tuesday to Peter Storrie.


"That was obviously not disclosed to any of the media.

"We also wrote to them advising that we were strongly opposed to administration but they had a path they were on and it didn't matter what we said, that wasn't going to change," he added.

The Premier League seem set to deduct the Hampshire club nine points as a result of administration on Tuesday - which would leave them 14 points from safety and virtual certainties for relegation to the Championship.

And Cattermole admitted this would be a consideration for his consortium.

"We still have to carry out due diligence and see what is owed, what is expected to be paid for it and what the value's going to be once the whole issue of relegation and the nine-point issue is sorted out," he said.

"Obviously if the club gets relegated then a lot of the income in the next seasons is compromised. The club has to be cheaper because it's been devalued.

"We'll just look at it as a business that's effectively a going concern and we'll make a decision on value based on what we see and what we can negotiate."

After seeing his team win 2-1 at Burnley on Saturday, Pompey manager Avram Grant protested that the points deduction was unjust.

I really don't think the situation is as bad as people think

Victor Cattermole

"Football should be decided on the pitch not in the courts, not in the Premier League offices," the Israeli said.

Andronikou, who has estimated that Pompey's debts will "bottom at around £78m", said the club aims to challenge the penalty.

"The assumption that there is an automatic deduction of points has never been tested before but we will do our very best to avoid a deduction," he told BBC Radio 5 live on Sunday.

"Our solicitors believe there may be a slight opportunity but I don't want to say anything more because that prejudices my position in achieving it.

"I would say everyone has taken for granted that there will be a deduction of nine points."

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see also
Pompey's James would take pay cut
28 Feb 10 |  Portsmouth
Burnley 1-2 Portsmouth
27 Feb 10 |  Premier League
Administrator vows to save Pompey
26 Feb 10 |  Portsmouth
Portsmouth enter administration
26 Feb 10 |  Portsmouth
Reaction to Portsmouth's plight
26 Feb 10 |  Portsmouth

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