3 Aug 2010Portsmouth hoping to avoid 20-point penalty

Football Clubs News | Football Finance News

Troubled south coast football club Portsmouth will head to the High Court today (August 3rd 2010) in the hope of escaping from tough sanctions which could be imposed by the Football League from the start of the coming season.

According to the Independent, the side could be docked as many as 20 points if HM Revenue and Customs' (HMRC) appeal against a proposed company voluntary agreement (CVA) is successful.

Although a majority of creditors voted to accept the CVA - which would have seen them repaid 20p in the pound - the tax office has been vigorous in its opposition to the plan and is keen to send out a message to clubs in similar financial positions.

Last weekend, administrator Andrew Andronikou told the Sunday Telegraph that Portsmouth have been taken to task over income from image rights and questioned why HMRC had not taken similar action against Crystal Palace.

Written by Paul Roberts

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