Point deduction reaffirmed
A statement, as I am sure many of you would have already seen on The Pompey Site, has been issued by the football league today.
So long as the court case this week goes in our favour, and if that is the case further funding comes from for The PST from the fans, the takeover will go through - although with the takeover will come the deduction of the 10pts previously threatened.
This statement read as follows...
'The Football League has received details of a proposal by Pompey Supporters' Trust and its partner investors to acquire the assets and certain liabilities of Portsmouth Football Club.
'Having considered the proposal in detail, the board concluded that it had significant merit.
'However, two outstanding points will have to be resolved before the board can fully consider PST's application to become the new owner of Portsmouth Football Club. They are the outcome of the current High Court proceedings relating to the ownership of Fratton Park and PST raising the remaining funding from supporters that is anticipated in its business plan.
'The board also confirmed that ongoing membership of The League would be subject to a number of conditions that seek to ensure the sporting integrity of league football and the financial viability of the club going forward.
'It therefore reaffirmed its earlier decision that these conditions would include a deduction of 10 points (applicable at the point of transfer of share) and a range of other restrictions on playing budgets and future borrowing for the next four seasons.'
There had been a few rumblings that the 10pts deduction 'might not' happen, but lets face it I think we had all pretty much accepted - even if it might have been deemed harsh - accepted this was going to happen when we finally do exit admin again, which we seem to have been in for an age!
So, come Saturday we could possibly be second from bottom on 10pts leaving us some 9pts from safety...
The importance of the upcoming chaotic Christmas period grows once this is confirmed as we desperately need to be putting ourselves within touching distance of those outside the bottom 4 come the New Year, positively our goal difference is pretty good though.
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