By Nick Harris
24 October 2010
Portsmouth have been pulled back from the brink of extinction after former owner Sacha Gaydamak released a statement confirming he will agree the deal to bring them out of administration.
As recently as the past few days it seemed Pompey could fold and that a phoenix club would be formed to keep them in the league pyramid.
But Gaydamak’s statement makes clear the club won’t go under. “The news this week surrounding football and this club show that the current preoccupation with money and finance isn’t helping the game and its reputation,” Saturday evening’s statement said.
“Portsmouth Football Club, its fans, employees, players and the community that surrounds it deserve more than being subjected to rumour resulting from some parties using the press to create uncertainty as a negotiating tactic. Contrary to some reports, I fully intended to sign the deal on Friday and had it not been changed at the last minute I would have. Everyone involved understood on Friday that further negotiations were now required. A new agreement was reached late on Saturday evening and as soon as I receive the papers I will sign them.
“I hope this draws to an end the unfortunate uncertainty surrounding the club. I wish everyone involved in the club well for the future.”