Andronikou reveals debt expectation

Posted Sunday, February 28, 2010 by PA

The administrator in charge of Portsmouth expects the club's debt to total £78million.

But Andrew Andronikou has been led to believe there is still a chance of the financially stricken club avoiding a nine-point penalty.

"The debt is going to be slightly more than £70million," Andronikou told Sportsweek on BBC Radio Five Live.

"We will know more towards the end of the week. There are lots of contingent creditors I need to look at.

"I will probably need another week to get to the bottom of it all and see the exact figures. I would imagine (the debts) will bottom around £78million."

Andronikou has been advised that Portsmouth may be able to challenge "the assumption" that the Premier League will impose a points penalty for going into administration.

The punishment would push Portsmouth, who are currently four points adrift at the foot of the table, to the brink of relegation.

"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," Andronikou said.

"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."