Pompey's future stalled because of missing papers
POMPEY are still in administration – because vital paperwork was not sent to the Football League.
The eight-strong Football League board met on Thursday for its monthly meeting, and the Blues were on the agenda.
But the missing paperwork means they could not hand Pompey its 'golden' football share – membership of the Football League which would allow an owner to buy the club and lift the player registration embargo.
The News understands the problem stems from the Blues not meeting the September 2 deadline to present their financial plans for the next three years.
Their ability to meet that date was hindered by the transfer window which ended the day before, with income and expenditure levels unable to be predicted in advance.
They did, however, deliver fit and proper persons documentation and the sale and purchase agreement to the board.
Regardless, all papers must be received by the Football League in order to satisfy their criteria and win the golden share.
Pompey are now aiming to hand over the financial plans within the next week.
Chief executive David Lampitt remains confident all conditions will be satisfied.
He said: 'We have got to front up and be candid about it, the fans deserve that.
'There is documentation we have not got to the Football League.
'There are good reasons for that and we have had to revise the entire business plan following the end of the transfer window.
'That has been no small exercise, there has been an awful lot to sort out.
'If we are in position and the Football League are happy then they are not going to make everyone wait for six weeks for another meeting.'
The delay also meant they could not rubberstamp Balram Chainrai's takeover.
But it does mean potential owner Tom Lever will have more time to put his bid together.
The Football League told The News that the board would call a special meeting to discuss it.
Alternatively, delegated authority may be used, whereby a few of the board will make the decision.
Football League head of communications John Nagle said: 'This will now be ongoing and once the board is in a position to make a decision it will.'
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Saturday 26 May 2012
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