PREMIER League club Portsmouth could come out of administration in six to eight weeks, administrator Andrew Andronikou said yesterday after a High Court winding up order was suspended.
The troubled club was back in the High Court to address revenues and customs concerns about the process in which it entered administration last month – a move that prevented it folding up under a mountain of debt.
Andronikou, who last week announced 85 redundancies at the club which is bottom of the Premier League, said the winding up order would be removed once the club came out of administration.
Andronikou said he had met Cheshire-based millionaire Rob Lloyd who is heading a consortium interested in buying Portsmouth.
He said: “I met him last night and set out a few ground rules and we have agreed a way forward.”
HM Revenue and Customs’ formal acceptance of Portsmouth’s administration means the club is almost certain to be docked nine points under Premier League rules but Andronikou said he would fight against such a move.