Portsmouth reveal 12 interested buyers

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The Independent Football

Portsmouth administrator Andrew Andronikou has revealed he has heard from 12 parties interested in buying the debt-ridden club.

Pompey went into administration last Friday with estimated debts of £78million, including an outstanding tax bill of £12.1million.

The south-coast club lie bottom of the Barclays Premier League, but Andronikou claims there has been no shortage of interest.

"We have received a about dozen expressions of interest," Andronikou, who said he now had to assess "the quality of the interest", told Press Association Sport.

"We need to sit down first and look at funding," he added.

The administrator revealed he had already met with two parties who had shown him proof of funds and he had sent them away and asked them to bring him even more "transparent proof".

"There is no timescale," Andronikou added. "We are not rushing. We want to do it properly.

"We need a measured approach.

"It's about putting the club in the hands of someone who is going to look after it and make sure it's in a good position in three, six, nine months' time."

Andronikou said he could not put a figure on what the club was worth.

There has been some interest from New Zealand businessman Victor Cattermole, while the Intermarket Group who were close to a takeover at West Ham have also emerged as possible investors.

Andronikou, an insolvency practitioner from UHY Hacker Young, maintains Tuesday's High Court appearance, at which a judge ordered another hearing in a fortnight's time to ascertain whether his appointment by Balram Chainrai was valid, will have no bearing on the plans to find a new buyer.

Andronikou was scheduled to meet with the Premier League this afternoon, a meeting two days' ago having been postponed following the High Court appearance.

He retains hope that the automatic nine-point deduction levied for any club going into administration will be waived.

It is understood the Premier League will not make any decision on possible penalties until the second High Court hearing.

Should a nine-point deduction be imposed, it would effectively seal the Portsmouth's relegation to the Coca-Cola Championship.

Pompey are currently on 19 points, five adrift of 17th-placed Wolves.

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