POMPEY'S creditors face the prospect of being left severely out of pocket when the share-out is divided up later this month.

The club's unsecured creditors will have to settle for a take-it-or-leave-it agreement of 6.8p in the pound at the meeting on June 23 which is due to rat-ify Milan Mandaric as the new owner.

The Inland Revenue, who originally served the winding-up order, will be paid in full as will all other debts to government departments and the secured debts.

But while government departments will get the full monty, the near-300 other local firms and individuals owed money by the club will have to swallow their debts unless they're prepared to take drastic action.

Administrator Tom Burton still has to report back to the High Court at the end of the administration period and disgruntled creditors could buck at Mandaric's adoption as chairman and, although it's unlikely, could force the club into receivership if unhappy about their settlement.

Meanwhile, skipper Adrian Whitbread warned fans not to load to much expectancy on the team's shoulders in the new campaign.

The arrival of Mandaric has sent a wave of optimism sweeping round Fratton Park, despite their escape from relegation, and Whitbread says that talk of promotion this season is unreal and unfair.

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