Birch confirms Pompey face August 10 liquidation deadline

Pompey's Jamal Lowe. Picture: Joe Pepler

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POMPEY will be liquidated on August 10 unless a compromise can be reached with the club’s high earners.

Mr Birch met with Pompey staff this afternoon to inform them of the date.

Administrators have been working to come up with a compromise with players over a wage bill of around £9.5m.

But they say there will be no alternative but to close the club unless the remaining senior first team players agree to transfers and or compromise on their wages.

Trevor Birch, joint administrator of Portsmouth Football Club, said: ‘The facts are straightforward: under the terms of the offer for the club, in order to complete the CVA proposal, the players have to leave and conclude compromise settlements.

‘This condition has been imposed by the Pompey Supporters Trust as well as by Portpin – both interested parties have made it clear that they won’t take on the club unless there is movement from the players.

‘We will continue to do all we can to facilitate these deals but the club’s future hinges on the willingness of certain players and their agents to sign up to compromise agreements that are affordable both in terms of the amount and timing of repayments.

‘Unless we make significant progress on this front by 10 August then we are likely to have no option other than to close the club.

Mr Birch said that progress is being made with ‘three or four players’ but many of the squad and their agents still don’t understand what is at stake.

He added: ‘If the club is liquidated, players will not be protected by the Football Creditor provisions.

‘They will become ordinary unsecured creditors in a situation where there is unlikely to be any dividend.’