Pompey refusing to be rushed as considerable interest is shown

Pompey went into administration last Friday with estimated debts of 78m, including an outstanding tax bill of 12.1m.

The south-coast club lie bottom of the Premier League, but Andronikou claims there has been no shortage of interest.

"We have received about a dozen expressions of interest," said Andronikou, who said he now had to assess "the quality of the interest".

"We need to sit down first and look at funding," he added.

The administrator revealed he had already met with two parties who had shown him proof of funds and he had sent them away and asked them to bring him even more "transparent proof".

"There is no timescale," Andronikou added. "We are not rushing. We want to do it properly. We need a measured approach.

"It's about putting the club in the hands of someone who is going to look after it and make sure it's in a good position in three, six, nine months' time."

Andronikou said he could not put a figure on what the club was worth.

There has been some interest from New Zealand businessman Victor Cattermole, while the Intermarket Group who were close to a takeover at West Ham have also emerged as possible investors.

Andronikou, an insolvency practitioner from UHY Hacker Young, maintains Tuesday's High Court appearance, at which a judge ordered another hearing in a fortnight's time to ascertain whether his appointment by Balram Chainrai was valid, will have no bearing on the plans to find a new buyer.

Andronikou was scheduled to meet with the Premier League yesterday afternoon, a meeting two days ago having been postponed following the High Court appearance.

He retains hope that the automatic nine-point deduction levied for any club going into administration will be waived.

It is understood the Premier League will not make any decision on possible penalties until the second High Court hearing.