25 October 2010
We, the Administrators of Portsmouth City Football Club Ltd, are pleased to announce that negotiations between the various parties concerning the sale of the club have now been satisfactorily concluded.
Accordingly, the club has now been formally sold by the Joint Administrators, Andrew Andronikou, Peter Kubik and Michael Kiely, and will continue to trade outside of Administration.
The Administrators would like to thank Mr Gaydamak for his cooperation and assistance in securing the future of the club and acknowledges that he has played an integral part in delivering its survival.
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