Birch concerned with Gaydamak payments

CONCERNED Trevor Birch
CONCERNED Trevor Birch
Joe Hancott in action for Pompey Reserves against Southend. Picture: Colin Farmery

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VITAL parachute payments that could have helped Pompey though to the end of the season will go to former owner Sacha Gaydamak.

Trevor Birch, Pompey’s joint-administrator, revealed around £2.2m in parachute payments from the Premier League will go to Mr Gaydamak in four monthly instalments.

He will receive around £640,000 for four months from April, according to Mr Birch.

Mr Birch claims 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 (CVA) to bring the club out of administration previously.

The News reported Mr Gaydamak would receive £2.2m first as a secured creditor as part of the CVA, which totals £16.5m.

Mr Birch said he was not aware of the agreement.

On the parachute payments agreement, Mr Birch said ‘Our legal advisors have sent out letters to various people to see if it is allowed.’

He added: ‘It makes it that more difficult for me and puts into doubt if we are able to get through to the end of the season.

‘It stops me trying to get any cash out of the Premier League that could put the club through til the end of the season.

‘It’s incredibly difficult – I’ve jumped on a plane that’s crash landing and trying to bring it down safely. There is a bigger hole in the fuel tank already leaking fuel .

‘The money would have given us a bit more time, maybe until after the end of the season.

‘Time is of the essence.’

‘I’m just doing my best to save the club. All I can say is what affects me and that affects me at the moment. I am unhappy about that.’