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Portsmouth's future close to being assured
23 Oct 2010 - 16:00:35
The future of Championship club Portsmouth appears to have been safeguarded after a potential block to a deal with former owner Sacha Gaydamak was removed.
Reports of Friday evening and Saturday morning suggested that situation as grim at Fratton Park, but Gaydamak's lawyers, Taylor Wessing, now say that the problems have been ironed out.
Tim Stocks of Taylor Wessing told PA Sport: "I will be talking to Sacha and recommending the documents are signed.
"There was never any demand of £2.5million being paid in cash - there were five or six highly technical points on some of the contracts which I had agreed with the administrator.
"I was baffled and saddened therefore to see announcements saying the club was at the brink, it has caused anxiety for no good reason.
"My instructions are to work towards trying to get an agreement and I hope to do so.
"This is a transaction that works for all creditors, as well as Sacha, so I'm hopeful we will get the paperwork signed. I would like to reassure Portsmouth fans that the club is not on the brink."