Football: Pompey stave off bankruptcy

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The Independent Online
PORTSMOUTH MAY be struggling, but they live to fight another day after avoiding a winding-up order yesterday.

A construction firm which built a stand at the club's ground was paid a long-standing debt owed by Pompey's holding company. Try Build, the specialist and maintenance division of Try Group PLC, received pounds 430,000 at the Companies Court Division of the High Court, which finally ended the dispute that had been ongoing since May of last year. The 4,500 seat stand was finished by the Uxbridge-based firm in October 1997.

Richard Barraclough, the Try Group company secretary, revealed a settlement was reached late on Tuesday night. As a result, Try Build withdrew its winding-up petition against Blue Star Garages, parent company of Portsmouth Football Club, which was the guarantor for the payment. The petition had originally been for pounds 435,000.

The Football Association of Ireland yesterday announced plans to build a 45,000 capacity international stadium in south-west Dublin. It is estimated the stadium will cost pounds 57,000 to build.

The stadium, which will be called The Arena, will have a removable, natural grass pitch and a retractable roof to accommodate sporting as well as cultural events, indoor and outdoor, according to the FAI.