Andrew Andronikou insists that Peter Storrie must take part of the blame for Portsmouth's plight.
Pompey administrator says former executive is not blameless
Portsmouth administrator Andrew Andronikou insists that Peter Storrie must take some of the blame for the club's financial plight.
The crisis-hit club were finally issued with a nine-point deduction on Wednesday after going into administration in late February.
Storrie was the club's chief executive during the period that saw their debts mount and Andronikou believes that a portion of responsibility lies at his door.
"Portsmouth are an example of how not to conduct business in the world of football," the administrator said.
"If you overspend and don't budget accordingly you cannot rely on money from the owner or the proprietor coming in to bridge the gap, and in that it's no different to any other business.
Short term
"At the moment Mr Storrie is assisting us on an ad hoc basis. I felt in the very short term it would help us if we had him around to assist us in certain aspects of the business but this is very much in the short term.
"He was a senior officer of the company and the company has failed so it goes without saying that yes he must bear a large part of the responsibility, absolutely.
"I would also say that in the last few months that I believe he has exercised his judgement to try to save the club at all costs."
Storrie, who has now stepped down from his executive role but is staying on as an advisor at Fratton Park, described the nine-point penalty as 'terribly unfair'.
Andronikou has held talks with Rob Lloyd, who represents a consortium interested in a takeover, but said he would not enter into an exclusivity deal with the group.
Interested parties
He said: "I don't think we are in a position to do that - they have to satisfy us in various other areas.
"I also don't want to discourage other interested parties."
With the identities of the prospective investors not yet being known, Andronikou admitted that he had concerns over Lloyd's consortium.
He added: "I'm trying to understand how his group has manifested itself, it seems to have changed form in the last two weeks which is a great illustration of problems we are going to have.
"I am not saying they are not credible but there is a long way to go to find the appropriate people to take the club forward.
"My goal is get the club ship-shape, minimise its loss-making, and exit the administration so we don't incur penalties in the Championship next season, where it looks as though we will be."
