Pompey Get Stay Of Execution
Portsmouth Football Club were yesterday given a nine day extension to prove they have a future following their winding up hearing at the High Court. The south-coast club are said to owe the tax man £11.5m and have been given time to show they are capable of paying the debt.
The Premier League’s bottom club have failed to pay their players’ wages on four occasions and have recently seen yet another owner take control in the form of Belram Chenrai. The Hong Kong based businessman took control of Pompey after previous owners failed to repay a loan. Chenrai maintains that he has no interest in owning the football club long term and was merely exercising a clause in a loan agreement.
The earliest possible date for Pompey’s next hearing is Friday 19th February, a date that could see the club cease to exist. Her Majesty’s Revenue and Customs believe the club is insolvent and should no longer be allowed to operate in any capacity. The 2008 FA Cup winners are hoping they can get an advance on parachute payments in a desperate bid to stave off the threat of liquidisation and are reported to have serious parties interested in taking over the club, a turn of events which may see Pompey survive. Premiership survival however looks far from likely, they are rooted to the bottom and six points adrift.
An option the judge has is to place the football club into administration which will see them deducted nine points and make relegation a inevitability.
Aruna Dindane’s last gasp equaliser against Sunderland on Tuesday night could be the last league goal by a player in a Portsmouth shirt for their next Premier League fixture is a home tie against Stoke City on the 20th. Bwin have the troubled club 7/5 to win and Stoke at 9/5.
All odds correct at time of writing and are subject to change
Pete Guest
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