Andronikou - 12 keen on Pompey
Administrator to take time in finding a suitable new owner
Last Updated: March 4, 2010 2:54pm
Andronikou: Taking measured approach
Portsmouth's administrator Andrew Andronikou is not putting a timescale on finding a new owner, but claims a dozen parties have expressed interest in a takeover.
The Premier League's bottom club were placed in administration last week following a turbulent season which has already seen four different owners at Fratton Park.
Andronikou is currently fielding interest in becoming Portsmouth's next owners and is determined to ensure the club are passed into the right hands.
"We have received about a dozen expressions of interest," said Andronikou, who now has to assess 'the quality of the interest'.
"We need to sit down first and look at funding."
The administrator revealed he had already met with two parties who had shown him proof of funds and he had sent them away and asked them to bring him even more 'transparent proof'.
"There is no timescale," he added. "We are not rushing. We want to do it properly.
"We need a measured approach.
"It's about putting the club in the hands of someone who is going to look after it and make sure it's in a good position in three, six, nine months' time."
There has been some interest from New Zealand businessman Victor Cattermole, while the Intermarket Group who were close to a takeover at West Ham have also emerged as possible investors.
Andronikou, an insolvency practitioner from UHY Hacker Young, maintains Tuesday's High Court appearance, at which a judge ordered another hearing in a fortnight's time to ascertain whether his appointment by Balram Chainrai was valid, will have no bearing on the plans to find a new buyer.
Andronikou was scheduled to meet with the Premier League this afternoon, a meeting two days ago having been postponed following the High Court appearance.
He retains hope that the automatic nine-point deduction levied for any club going into administration will be waived and it is understood the Premier League will not make any decision on possible penalties until the second High Court hearing.