Joseph Cala renews Portsmouth interest

Italian businessman Joseph Cala has told BBC Radio Solent he is back in the running to buy Portsmouth FC.

On Friday, Cala failed to agree terms with the club's major creditor Portpin, controlled by Pompey's former owner Balram Chainrai, and withdrew his bid.

But Cala says his banker will now deal directly with Portpin's owners.

The club were issued with a winding-up petition by HM Revenue and Customs on 3 January and will appear at the Royal Courts of Justice on 20 February.

Pompey's parent company, Convers Sport Initiatives (CSI), entered administration in November, forcing the Championship club to search for new owners.

CSI's administrator Andrew Andronikou revealed on Friday that Pompey have missed two tax payments of £800,000 to HMRC, totalling £1.6m.

There is an urgency to complete a deal with fresh backers, as investment is needed if Portsmouth are to meet ongoing running costs.

BBC South understands any purchaser would need to provide £12m as proof of funds, and assurances they could meet another £20m in repayments to former creditors, Chainrai and Alexandre Gaydamak.

The Portsmouth Supporters' Trust are meeting with local businesses on Thursday in an attempt to form a consortium to help save the Championship club.

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