Portsmouth have been dealt a major blow before the new campaign ha even begun. They suffered a 10 point deduction, meaning they will start the season with negative points and with just 8 senior players left on the books.
On top of this 10 point deduction, Pompey's prospective new owners must agree that only a limited proportion of the secured debt can be carried forward into the new company. The new owners must also agree to certain restrictions on future borrowings, loan repayments and playing budgets.
They are also obliged to pay all football related creditors in full, unless an alternative agreement is agreed upon. Portsmouth administrator Trevor Birch admitted that the penalties imposed upon Portsmouth by the Football League have come as a massive blow and he was also quoted as saying that he felt the club have been "punished twice for the same crime". Although they are trying to overturn the decision of the Football League, Birch has admitted that it would be difficult as the Football League will not tell them exactly what to do to reduce the penalty.
Birch also said that until the "uncertainty is dealt with" manager Michael Appleton will be unable to bring in new players, although player exits are expected which will atleast have a positive effect as it will reduce the club's crippling wage bill. Hopefully a new buyer can come in rescue this great club as it would be a sad day to see them go...
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