The money troubles for Pompey still aren’t over as the club could face a potential legal battle over a promise by the club’s owner to pay back all small creditors in full.
The club took out a Company Voluntary Agreement, also known as a CVA, back in 2010 to help pay off some of the club’s £135 million debt.
The terms of the CVA stated that the club would pay off at least 20% of their debt over 5 years, however owner Balram Chainrai said at the time that small creditors (those owed less than £2,500) and charities would be paid off in full at a cost of almost £200,000 to him.
However, chief executive David Lampitt told supporters at a fan forum that it is not the responsibility of the club to pay back all the money.
“What was a positive gesture to pay 100 per cent of what they were owed rather than 20 per cent was a positive thing. There was no deadline, but we are keen for it to happen as soon as possible”, he said.
“I have to make it clear the debt and liability does not lie with the football club. There is, I guess, a bit of legal wrangling to sort that situation out.”
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