Article Taxonomy: Administration

The semi-final victory over Spurs was a tremendous morale booster for Portsmouth, but it has led to renewed interest in buying the club according to the administrator.   One sporting consortium that has been ‘hovering’ has stepped up its interest.

Portsmouth are to appeal against their disqualification from European competition.  A European place would be theirs given that Chelsea have already qualified for the Champions League.   In any case the club should earn a very useful £2.5m as a result of reaching the final.

With the focus turning to Portsmouth once again with the cup semi-final tomorrow, some of those involved in the saga have come forward with their explanations of what went wrong.  Goalkeeper David James blames winning the cup and consequently qualifying for Europe.  Bonuses for qualification had been set with little thought that Portsmouth might get into Europe.  If that had not happened, the club would have been able to build on two years of progression.

Property developer Rob Lloyd has paid his £5,000 fee and his representatives have begun the process of due diligence at Portsmouth, combing through the club’s books.   The administrator was initially sceptical about the Cheshire businessman’s bid, but Lloyd has now revealed that he is not fronting a consortium, but represents a single mystery bidder whom he won’t name.   With the clock ticking for Portsmouth, any expression of interest is welcome.

Portsmouth have been given permission by the Premier League to sell players early subject to certain conditions which essentially mean that they cannot play for another club this season.   Now that Portsmouth have been given their points deduction and are certain to be relegated, the Premier League is taking a more relaxed attitude towards them, although there is still the possibility of additional fines for breaches of the rules.   What the Premiership wants to avoid above

Portsmouth have received more good news after Balram Chainrai, one of the club’s main creditors, agreed to drop his claim for immediate repayment if the Premier League brought forward television revenue of around £6m.   The league made it known last week that it was willing to advance tv revenue and even parachute payments that were due to the club if the money was used to pay off football creditors and keep Portsmouth afloat until the end of the season.   The league was concern

Despite the deduction of nine points by the Premier League, confirming what was already a very likely relegation to the Championship, things are looking up at Portsmouth.  Revenue and Customs have formally withdrawn their challenge to the club’s administration, thus clearing the way for the points deduction.  The Premiership have indicated that they may give the club an advance of its television money.