Portsmouth seeking new owners

Image: Portsmouth are once again facing administration

Administrator Andrew Andronikou has once again been tasked with finding a new owner for Portsmouth Football Club.

Administrator hoping to avoid points deduction

Administrator Andrew Andronikou has once again been tasked with finding a new owner for Portsmouth Football Club. The club's parent company Convers Sports Initiatives (CSI) has been placed into administration, with an accountancy firm taking control of all of their assets. Pompey nearly went out of business in 2010 when they became the first club in Premier League history to go into administration. Andronikou told Sky Sports News: "At the minute our role is to find new owners for the business. "The circumstances are beyond the control of the club, unfortunately in this situation the shareholder, or the shareholder of CSI group has his own difficulties and we have had to come in to take control of all his assets including Portsmouth Football Club. "Currently we are in discussions with the (Portsmouth) board. The short-term future is secure. They need to address the medium to long-term view and find a new owner for the club." A ten-point deduction would leave Pompey bottom of the Championship table and nine points from safety if the club go into administration. It is hoped though that as the club are not technically in administration that this could be avoided. Andronikou added: "I am hoping a points deduction is not a prospect but that is a Football League matter. "We are different circumstances to the last time. I reiterate the club are not in administration. We are looking after the assets of the holding company."

Precedent

However there is a precedent after South Coast neighbours Southampton were deducted ten points after their parent company went into administration. A Football League investigation ruled that Southampton Football Club and Southampton Leisure Holdings were "inextricably linked as one economic entity." For Pompey fans it may feel like a very similar nightmare to a year ago but Andronikou was keen to stress the differences. "In terms of deja-vu it is only that we are looking for a new buyer and owner for the football club that will secure its medium and long-term future."

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