Portsmouth’s immediate future has been safeguarded after Britain’s
tax authority dropped its legal challenge against the Premier
League club entering a form of bankruptcy protection.
The customs and revenue service had been pursuing a
winding-up order after questioning the validity of the appointment
of Andrew Andronikou as administrator.
But while still expressing concerns about the club’s
finances, it announced Thursday that Andronikou “will be able to
make early and real progress with the administration in order to
get the best and most equitable return for all creditors.”.
With Portsmouth in financial administration, the Premier
League is likely to vote to dock the bottom-club nine points.