Portsmouth creditors accept deal

Fratton Park will be hosting Championship football next season

By Matt Slater

Portsmouth's long-term prospects look much brighter after creditors backed a deal which should see the Fratton Park outfit exit administration this summer.

Needing the support of those owed at least 75% of unsecured debt, Pompey's proposed Company Voluntary Agreement (CVA) received 81.3% of the vote.

The administrator will now press on with the plan to repay creditors at least 20p in the pound over five years.

Creditors of the Championship club are owed a total of £105m.

The only real opposition to the CVA - a requisite for clubs hoping to avoid further points penalties - came from HM Revenue and Customs (HMRC), which has 28 days to appeal the decision.

More to follow.

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