Pompey to go under ‘unless new owner found’
Portsmouth owner Balram Chainrai says the club will go into financial administration unless new owners can be found by Friday.
Pompey has six days to prove it can continue to operate with debts reported at 70 million pounds (US$105.5 million; euro79.8 million) and facing a winding-up order from the government’s Revenue and Customs authority over unpaid tax.
But Chainrai, the fourth owner of the Premier League club this season and only holding the position on a short-term basis, issued a statement on Tuesday saying he and fellow investors were in talks with several potential buyers.
Chainrai said it was unlikely a deal would be done before the March 1 court hearing and that administration, which would suspend the winding-up order but result in Portsmouth being deducted nine points, would be the only route left open.
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