Pompey debts rise to €162m but creditors agree deal

PORTSMOUTH will have more than two-thirds of their debts written off after a deal with creditors was thrashed out yesterday but have been hit with a further £17million (€19.9m) claim from the taxman.

The club’s administrator Andrew Andronikou revealed the new claim to a meeting of creditors today which takes Pompey’s total debt to £138m (€162m).

The creditors yesterday voted in favour of a Company Voluntary Arrangement, a repayment deal where most will get just 20p in the pound over five years, but that should secure Portsmouth’s future.