ADMINISTRATOR Andrew Andronikou says he has two aims for Pompey: to keep the club in the Championship and find a new buyer.
His announcement comes as the club applied to go into administration – with UHY Hacker Young the preferred administrators.
The application will be heard at the High Court on Friday and, if successful, Mr Andronikou will become administrator of Pompey with colleagues Peter Kubik and Michael Kiely.
Mr Andronikou, pictured, said: ‘We are looking to take over the club as soon as possible and drive home the sale. It is far more attractive in administration than as a going concern.’
The club has not been able to pay its bills for more than a week and a half, according to Mr Andronikou, after its bank accounts were frozen. He confirmed a validation order was lodged to unfreeze the accounts yesterday and said a hearing could be held tomorrow.
He added: ‘There were very important payments outstanding and it was the main reason why we are having to make an administration order. Things like the electricity bill. Everything needed to run a business, not just a football club.
‘Without working capital, you cannot run a business as significant as Pompey.
‘We know the club inside out. We will run the club, make necessary payments and scour the football community to find a buyer for the club.’