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Portsmouth takeover claim played down by administrator

Portsmouth

Portsmouth's administrator says he has yet to be contacted by a consortium that is reported to be interested in buying the cash-strapped club.

The Sunday Telegraph claims property tycoon Rob Lloyd will lead a group bidding to become the club's fifth owners this season.

But administrator Andrew Adronikou said he has heard nothing from Lloyd.

"I want to hear from him as I have not actually spoken to him at all. I am waiting for his phone call," he said.

The Sunday Telegraph article suggests the potential takeover - which would be subject to the Premier League's fit and proper persons test - is backed by a consortium including a New York hedge fund, with a South African investment firm also thought to be involved.

606: DEBATE
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Lloyd, 46, told the newspaper he intended to return "honesty, credibility and stability" to Portsmouth while maintaining that the deal was not simply a "business transaction".

The article added that Lloyd intends to speak to Andronikou, of UHY Hacker Young, before attending Portsmouth's game against Liverpool at Anfield on Monday evening.

Portsmouth face a High Court hearing on Tuesday, though Andronikou has described that as a "straightforward" process with HM Revenue and Customs having since dropped its pursuit over the validity of the club's administration.

Since entering administration with debts of more than £60m, the club has embarked on a cost-cutting process, with 85 members of staff made redundant last week.

Peter Storrie also stepped down as chief executive on Friday, though he will stay on to aid the administrators.

The club is also almost certain to suffer relegation to the Championship with a nine-point penalty for entering administration leaving them 17 points from Premier League safety.

However, Adronikou said last week that there were "five substantial interested parties" keen to bid.



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see also
Storrie quits role at Portsmouth
12 Mar 10 |  Portsmouth
HMRC ready to back Pompey set-up
11 Mar 10 |  Business
Storrie refuses to quit at Pompey
29 Jan 10 |  Portsmouth
Storrie in court over tax charge
20 Jan 10 |  Hampshire
Premiership clubs 'owe most cash'
24 Feb 10 |  Business
Pompey labelled 'dysfunctional'
26 Feb 10 |  Portsmouth
Portsmouth reveal financial state
17 Feb 10 |  Portsmouth


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