Administrator says Premier League cannot decide where emergency payments go

NEGOTIATOR Trevor Birch

NEGOTIATOR Trevor Birch

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AN AGREEMENT to divert emergency cash from Pompey to one of its creditors was not decided by the Premier League, the club’s administrator has said.

As reported by The News today, Mr Birch said around £2.2m in Premier League parachute payments owed to the club will go to former owner Sacha Gaydamak.

Mr Gaydamak who owned the club from 2006 to 2009, will receive an instalment of £640,000, and the same amount over the following three months.

He said the agreement was drawn up by the club’s former administrator Andrew Andronikou in order for Mr Gaydamak to vote in favour of agreeing the Company Voluntary Agreement to bring the club out of administration previously.

Trevor Birch, who works for accountancy firm PKF, said: ‘Yesterday, I made a statement about the finances of Portsmouth FC and referred to the possibility of parachute payments from the Premier League being paid to a previous owner of the club.

‘I want to make it absolutely clear that the Premier League is not a part of any agreement to pay money to a third party.

‘As I stated yesterday, the issue is that a mechanism was put in place by the old company, which had the effect of giving an assignment of £2.2m of parachute payments to a previous owner.

‘At this moment in time the Premier League is not withholding any funds due to Portsmouth, and I regret any misunderstanding this may have caused.

‘In the meantime, we are continuing to negotiate with the Football League and the Professional Footballers’ Association in order to unlock additional funds for the club.’

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