Portsmouth administrator vows to save club as Avram Grants job assured

Published: 3:15PM GMT twenty-six February 2010

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Portsmouth went in to administration department department this sunrise with debts of �70 million and Andronikou, an penury practitioner from UHY Hacker Young, right away has the pursuit of assessing the border of the repairs along with co-worker Peter Kubik.

Andronikou said: "We are seeking to rught away residence the poignant monthly taxation weight of the bar by implementing a quick cost definition programme.

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"Every aspect of the club"s overheads will be reviewed and scrutinised. Our target is to maximize all revenues and to exterminate all nonessential costs.

"We have most formidable decisions to have in subsequent couple of days. I guarantee you we will save your bar and take you forward."

Andronikou additionally believes it will be required to sell "one or two" players, nonetheless the bar would need special management from FIFA to do this outward of a send window period.

He additionally pronounced that physical education instructor Avram Grant had betrothed him he would stay until the finish of the season.

Andronikou will go on discussions with parties meddlesome in investing in receiving over the club, but will direct "proof of supports up front" and insists they contingency prove the Premier League"s "fit and correct person" requirement.

Andronikou certified he would additionally be creation large cuts at the club.

"I will be slicing to the bone, I can assure you," he said. "Restructuring starts today. There will be poignant cost cuts at all levels. We have a outrageous pursuit to understanding with.

"I need to beget operative collateral in the subsequent dual months, we will have to sell one or dual players but I am not seeking to sell players on a fire-sale basis.

"We are asking the Premier League for their assistance, this is really new for them. There will be a assembly with the Premier League subsequent Thursday where I will have a presentation."

Andronikou suggested Pompey could embrace their radio parachute payments early and that they still hoped to sell players outward of the send window, notwithstanding already being denied accede once.

"Advance parachute payments? There is a probability yes," he added. "We are additionally anticipating to acquire a little form of benefaction to sell players."