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Portsmouth In Administration By Friday If No New Owner Arrives

PORTSMOUTH, ENGLAND - FEBRUARY 20:  A general view of the floodlights at Fratton Park during the Barclays Premier League match between Portsmouth and Stoke City at Fratton Park on February 20, 2010 in Portsmouth, England.  (Photo by Bryn Lennon/Getty Images)
Bryn Lennon/Getty Images
Daniel GoochAnalyst IFebruary 23, 2010

Relegation is the least of Portsmouth's worries, as they will go into administration by friday if a new owner isn't found to save them.

If Pompey enter administration, they will be docked 9 points which will certainly mean they would be playing in the Championship next season.

A spokesman for Pompey said: "There is now only a short window of opportunity for buyers to come in with a credible offer.

"Having the club wound up is not an option as far as we are concerned."

They are £70million in debt with £7.5 million owed to HM Revenue and customs or the wind up order.

the club is safe, it can fulfil its fixtures and as far as is possible it is business as usual.

"Administration would mean the club re-emerging as a healthy financial entity.

"It would then become an attractive proposition for a potential buyer who could invest new funds in rebuilding the club's future.

"Mr Chainrai hopes the supporters will get behind the team for their Premier League match at Burnley on Saturday and the following weekend's FA Cup quarter-final at home to Birmingham.

"We would like to ask the fans, staff and management of Portsmouth for their support and patience should this step be taken as we believe it is the only route left open."

Even as they are on the brink, the Pompey fans will still be out if force to support their heros.

Eight points from safety, Portsouth's financial worries have meant their players have been paid late on four occasions this season.

Entering administration would mean they would now be 17 points from safety, with only 12 matches remaining (a possible 36 points avaliable) to preserve their Premier League status.

I'm not a Portsmouth supporter, but I still would'nt want to see a club have to shut up shop.

Good Luck Pompey!!! 

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