Thursday 19 January 2017

Portsmouth edging closer to the brink

Peter Lansley

Published 26/02/2010 | 05:00

PORTSMOUTH will move a step nearer to relegation today when they are set to become the first Premier League club to enter administration.

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Balram Chainrai, the latest owner, spent yesterday in London in talks with representatives of four groups interested in buying the club. But, when none could meet a 3.30pm deadline to offer proof of funds, Andrew Andronikou, from UHY Hacker Young, the accountants, said administration could not be put off.

This will trigger a nine-point penalty. Seven points adrift at the foot of the table, Portsmouth will be left on seven points.

"I feel very sad, very angry, but I want to understand more (about) the situation before I tell my opinion," boss Avram Grant said.

Andronikou, who will act as the administrator, will issue a statement today outlining how the club will be restructured and made attractive for a potential buyer.

Entering administration will prevent Portsmouth going into liquidation as they faced a winding-up petition in the British High Court on Monday. (© The Times, London)

Irish Independent

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