Pompey debt up to £138million

Portsmouth's administrator has revealed the relegated Premier League club's debt has now reached £138million.

Speaking last month, administrator Andrew Andronikou revealed that the south coast club's debt stood at around £120million.

However, the club that became the first Premier League era to enter administration back in February is now almost £140million in the red.

The staggering figure has emerged following a creditors' meeting at Fratton Park on Thursday.

Andronikou is now hoping to agree a Company Voluntary Arrangement with creditors before finding a new buyer who can take the club forward despite their relegation to the Championship.

Reports claim the CVA could be around the 25 pence in the pound mark and 75 per cent of the club's creditors must agree to it before the club can emerge from administration.

Subscribe to Football FanCast News Headlines by Email

 


Switch to Snack Football to browse all blogs, videos and new featured content
snack football unit grey closesnack football unit green-tick