A POMPEY fans’ group has given its reaction to the document that closes the book on the club’s time in administration.
As reported in The News yesterday, administrator UHY Hacker Young published its final report into the club’s dealings whilst in administration, from February 26 until October 24 last year.
The document also gives the date Pompey will finally be free of its financial shackles. June 17, 2015, will be the day by which each and every creditor should have been paid at least 20p for every £1 they are owed.
That was set out in the Companies Voluntary Agreement and approved by the majority of the creditors.
Alan Taylor, chairman of the Pompey Supporters’ Advisory Panel, said the report made ‘interesting reading’.
He added: ‘Without doubt most fans at the beginning of this current season would have willingly taken the club’s current position.
‘The business has been tidied up and is now running in a more economic and business-like way, and a great deal of thanks must go to both David Lampitt [chief executive], Lucius Peart [commercial director] and all the staff for all that they are doing in rescuing the basket case which was Portsmouth Football Club just 12 months ago.
‘Manager Steve Cotterill must both be thanked and applauded for all that he is doing with the team.
‘He has obviously had his stressful moments but he has persevered where many others might have walked away.
‘I am sure I speak for all the fans when I offer all my appreciation to all those who have helped save our precious and proud club from the threat of extinction.
‘The past is in the past, the lessons have been learned and hopefully will never be repeated, and we now move forward as proud fans of a wonderful football club.’
But Mr Taylor added that one of the sad facts to come to light was the money still owed to Pompey from Inter Milan for Sulley Muntari and Genoa for Kevin Prince-Boateng.
He said: ‘It is sad that some foreign clubs do seem to be trying to exploit Pompey’s situation by withholding monies that are obviously contractually due to the club.’
As reported in The News yesterday, the administrators have passed a file on their investigations onto the Insolvency Service over how Pompey was allowed to run up £120m debts.