Source: Telegraph
Portsmouth dismiss 85 staff as Peter Storrie takes 40 per cent pay cut
The cuts came as it emerged that Her Majesty's Revenue and Customs is preparing to withdraw its objection to the club's administration. A High Court hearing scheduled for Monday is now a formality and confirmation of the club's nine-point deduction is expected to follow.[LNB]The drastic cuts saw 20 full-time and 65 part-time staff made redundant across all departments of the club, reducing the staff from 320 to 235 with the possibility of more redundancies to come.[LNB] Related ArticlesPortsmouth expect to cut up to 80 jobsAvram Grant: threat of relegation taking tollPortsmouth owner locks horns with HMRCPortsmouth not eligible for European footballPortsmouth 1 Birmingham 2Portsmouth want Cup cashThere was anger among staff leaving the club and considerable bitterness towards Storrie. He has been the senior executive at the club for eight years but will continue to draw a salary estimated at around £35,000 a month until the club is sold.[LNB]Mike Crawford, one of the club's kit warehousemen for five years, said: 'I feel betrayed by the club I feel let down. I feel there are a lot of people to be blamed for doing this to the club.' [LNB]Storrie, who was not at Fratton Park on Wednesday as his office was used to inform staff who had been sacked, has agreed to take a 40 per cent pay cut but administrator Andrew Andronikou indicated he will remain in post until the end of the season.[LNB]Storrie is one of the best-paid executives in the Premier League, with a basic wage understood to be in the region of £800,000.[LNB]He was paid a total package of £1.2 million in 2008 including a bonus for Portsmouth's FA Cup victory. Portsmouth's administrator Andrew Andronikou said that Storrie, who has said he will stand down when the club is sold, remains an important figure as he sought to stabilise the club.[LNB]'He [Storrie] would like to make it known that he has taken a 40 per cent cut in his basic wage. Peter Storrie has tended his resignation, he is working to a timetable. He will be earning significantly less than £500,000 and I don't think there will be any bonuses this year.'[LNB]Andronikou said he was confident that HMRC would accept the administration and that he was focusing on finding a buyer for the club.[LNB]More than a dozen parties had expressed an interest, with two having provided proof of funds. Andronikou, who values the club at £30 million, said he was considering requiring any potential buyer to put a 10 per cent deposit into an escrow account.[LNB]Andronikou has six weeks to prepare a proposal for creditors owed a total of £84 million. Owner Balram Chainrai, who is due around £13.5 million, is a secured creditor and can expect to recoup much of his money. HMRC is owed around £18 million.[LNB]Chainrai has provided a facility of £15 million for Andronikou to run the club until the end of the season, but none of that money has yet been drawn down.[LNB]The administrator will re-open talks with the Premier League over securing an advance on broadcast payments alter this week.[LNB]
