BusinessCorporate FinancePompey investor may not be big player

Pompey investor may not be big player

Investigation finds potential new owner of south coast club has no major funds to invest

Portsmouth football club’s potential new investor may not have much cash to
invest in the club, according to accounts audited by the Russian office of Baker
Tilly, the Daily Telegraph claims today.

Millionaire Alexandre Gaydamak faces Premier League checks on his personality
and finances before he goes ahead with plans to become a partner with Pompey
chairman Milan Mandaric.

The Telegraph has found that Gaydamak, who is a French national, has
attempted to show his financial strength through his Moscow broking firm called
Antanta-Capital Group, but the accounts signed off by Marina Pavlova, deputy
general director of Baker Tilly Russaudit, show assets totalling just £12m in
2004.

The accounts also showed the group’s profits were only $647,000.

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