Gosport Borough FC rescue is '˜as big a challenge' as Pompey

Iain McInnes says arrangements have been made with creditors to pay back the hundreds of thousands owed by the club.

On top of this, the club has started to pay the rent for the Privett Park ground to Gosport Borough Council on time.

The chairman said that negotiations were ongoing for the rent arrears on Privett Park – with 11 months’ rent totalling £7,451.

Mr McInnes is perhaps most well-known for being the former chairman of Portsmouth Football Club, leading the club from the threat of extinction through to the takeover by Michael Eisner.

He said: ‘I can confirm that the rent on Privett Park is now being paid on time, and that will continue. We are now negotiating with the council to arrange a repayment plan for the rent arrears.

‘The club was in total debts of around £250,000 – we have been through the list of creditors and have paid off a great deal already.

‘We are in negotiation with most of the other creditors – I am not happy that the club still owes money to people but by and large we have been able to satisfy our creditors.’

Mr McInnes said that the repayment of debt at the club was the top priority, and that sacrifices may have to be made to achieve that. He said: ‘I would rather we go down and come back up than end up losing the club altogether.

‘Having been in league football in Pompey, I can say that this is as big a challenge as that was. We’re certainly not out of the woods, but I am appreciative of the council being so supportive of us.

‘There are a lot of politics that have been played at the club, which all happened before I took over – I don’t want to get involved with that.’

Liberal Democrat councillor Peter Chegwyn said: ‘It would be welcome news if the new chairman was able to pay off the long-standing debts.

‘We’ve had so many broken promises in the past that I do struggle to believe it until it actually happens.

‘Hopefully the new regime does sort out the problems but the fact remains they still owe 11 months of rent, totalling over £7,000. One day I’m sure this debacle will come to an end.’

A repayment plan with the council is expected in the next few weeks.