Gadyamak pays back

9/24/2012

Sacha Gaydamak will  pay back the final instalment, due late in October 2012, of the money owed over Pompey’s scrapped plans for a new training ground after his firm went into administration earlier this year.

Gosport Borough Council leader Mark Hook insists the former Pompey owner is still under an agreement to pay back cash over a failed deal to build a multi-million training facility at Cherque Farm, Lee-on-the-Solent.

Questions were raised whether the authority will receive the full amount its owed after Mr Gaydamak’s firm Miland Development 2004 was placed into administration. In 2008, the authority gave the go-ahead for Pompey to locate its training ground on land earmarked for building firm Persimmon Homes.

The deal meant the council had to pay back £330,000 to the developer which had been required to give the cash as part of a legal agreement to provide leisure amenities in the area. But, with Pompey in administration, the training ground plan have been abandoned.

Cllr Hook confirmed Mr Gaydamak reached an ‘unconditional agreement’ with the council to pay back the funds following a court case last year.

Cllr Hook said: ‘We have an unconditional agreement with Sacha Gaydamak that if the company didn’t pay, he will pay the amounts himself, so we are quietly confident we will get the money we are owed one way or another. To date he has honoured that agreement.

Posted: 9/24/2012