Source: Telegraph
Portsmouth confident they will receive £600,000 from FA Cup
Under FA rules clubs in administration can be thrown out of the Cup, and prize money and television fees are automatically withheld unless they demonstrate to the Professional Game Board that they should receive the money. [LNB]The rule is intended to prevent money going out of the game when clubs may owe significant sums to football creditors, but Andronikou is confident that will not apply to Portsmouth. [LNB]Arsene Wenger back in credit after Arsenals renaissanceArsenal leave Manchester United, Chelsea and Liverpool sweatingArsenal v Villarreal: Man markingChelsea cant afford lapses against Barcelona, says Guus Hiddink"We have a very strong legitimate case and I am confident that we will receive the money," he said. "The rule-book was written for the worst-case scenario but that does not apply to Portsmouth. There is no reason why we should not be receive the fees."[LNB]Andronikou is in the process of cutting costs at the club while preparing a prospectus for possible buyers. He said Saturday's win and the prospect of a Wembley semi-final offered the club an opportunity to attract prospective buyers. [LNB]"It was the best thing that could have happened to this club," he said. "After what has happened in the last few months the brand has become a little bit tainted, but this restores the polish and will give people a reminder of what is so special about the club."[LNB]Portsmouth's debts stand at £84 million, and Anronikou estimates that any new owner would have to inject £30 million to buy the club out of administration and deal with creditors that cannot be covered from guaranteed future Premier League income. [LNB]Before buyers can be approached Portsmouth first have to convince the High Court that their administration is legal, after Her Majesty's Revenue and Customs challenged Andronikou's position.[LNB]HMRC is challenging the right of owner Balram Chainrai to tip the club into administration and select Andronikou to oversee the process. [LNB]Chainrai is claiming to be a secured creditor and, as such, stands to recoup most of the approximately £18 million he is owed.[LNB]Andronikou said he was trying to answer HMRC's concerns without having to return to court on Monday. "We are trying to deal with their concerns as quickly as possible." [LNB]The Football Conference will circulate a new Blue Square Premier table following Chester's decision not to appeal against their removal from the competition. [LNB]The club's playing record has been expunged with immediate effect. In addition, goals scored against Chester in the Blue Square Premier will not be included in players' seasonal tallies, but goals against them in the FA Cup or FA Trophy will not be affected. [LNB]The club were expelled from the Conference last month because of their dire financial state.[LNB]
