Source: Team_Talk
Andronikou hopeful of lifting embargo
Portsmouth administrator Andrew Andronikou has revealed the club's transfer embargo will remain in place until at least July 15.[LNB] Pompey are seven days into a 28-day cooling off period after their creditors agreed to a Company Voluntary Agreement (CVA).[LNB]The club are hoping that none of their creditors appeal the CVA during the 28 days while they also have to show the Football League that new owners are in place before the embargo can be lifted.[LNB]"We had a meeting with the Football League on Tuesday where they reiterated their position. Basically, the embargo will remain in place until clarification," Andronikou told The News.[LNB]"So far nobody has lodged an appeal and I am not expecting one because I think the CVA looks after the interests of all the creditors and is one that is workable. The danger is, though, that there could still be an appeal and that would jeopardise lifting the embargo.[LNB]"The Football League will also not approve anything until they know who the owners are. That is something we are continuing to look into. As it stands, though, July 15 is the drop date. We are doing everything we can to show the Football League this embargo should be removed after that date."
