Portsmouth’s many creditors are unhappy with what has been revealed about the club’s finances and are unlikely to agree to a Company Voluntary Arrangement which is necessary if the club is to avoid a further points dediction next season. 75 per cent of creditors have to vote in favour of such an arrangement and Revenue and Customs, which controls 15.1 per cent of the vote, is likely to oppose it. &n
Portsmouth’s many creditors are unhappy with what has been revealed about the club’s finances and are unlikely to agree to a Company Voluntary Arrangement which is necessary if the club is to avoid a further points dediction next season. 75 per cent of creditors have to vote in favour of such an arrangement and Revenue and Customs, which controls 15.1 per cent of the vote, is likely to oppose it.
In that case the club would have to be liquidated and re-apply to the Football League, possibly under the ownership of former owner Balram Chainrai. It is not absolutely certain what the points deduction would be in those circumstances but it could be 17 points.