Pompey out to avoid more penalties

The financially-crippled club have already been hit with a nine-point penalty this term for slipping into administration. They now face almost certain relegation out of the Premier League, with time fast running out on their survival bid. However, if they are unable to exit administration by early June, they will also start next season with a further penalty of up to 15 points. Andronikou is determined to ensure such a situation does not arise, but admits he is in no rush to find a new buyer for the ailing South Coast side. "I will not allow this club to be docked any more points," he said in the Daily Express. "We are already working on the Company Voluntary Arrangement that will take the club out of administration and the documentation will be completed in plenty of time." He added: "We are taking things slowly to ensure we find the right people. It could be another six weeks or so before anything is decided." While the problems mount for Pompey this season, they have welcomed news that Balu Chainrai will not be asking for immediate repayment should the club be granted an advance on television revenue payments. The Hong Kong businessman took control at Fratton Park in February after the club defaulted on a scheduled repayment on a loan from Portpin Limited, a company controlled by Chainrai and his associate Levi Kushnir. There had been a fear that the duo would seek to recoup their money should Pompey be awarded advances in TV revenue and potential parachute payments. However, Chainrai insists he is prepared to drop his claim and has pledged to invest a further £15million to help keep the club afloat until the end of the season.