Mandaric slams Portsmouth owners

Former Portsmouth chairman Milan Mandaric claims the beleaguered Premier League club’s financial problems can be blamed on a succession of owners who “have no business to be in football”.

Pompey – who were FA Cup winners in 2008 – have lurched from one problem to another during the last seven months as four different owners failed to ease the cash crisis at Fratton Park.

The south coast club has debts of over 60 million pounds and is in dispute with Her Majesty’s Revenue and Customs (HMC), who have lodged a winding-up petition with the High Court over unpaid taxes.

Portsmouth, currently bottom of the Premier League, are due back in court on March 1 to fight their winding-up petition and Leicester City chairman Mandaric is hoping the club will not have to go into administration. But if they do, he insists the blame lies with the men who have succeeded him.

Serbian-American tycoon Mandaric, who led Pompey into the Premier League after buying the club when they were in administration 11 years ago, is convinced Sacha Gaydamak, Sulaiman al-Fahim, Ali al-Faraj – nicknamed al-Mirage because he was rarely ever seen around Portsmouth – and current owner, Hong Kong businessman Balram Chainrai, must all shoulder the responsibility for Portsmouth’s perilous situation.

“I sold it to a proper owner – Sacha Gaydamak,” Mandaric said. “He decided to go in a different direction to me and go steps further. He was successful and gave fans something they didn’t have when I was there (an FA Cup) but that unfortunately cost expenses and debt.

“After he sold the club the new owners came in with no money. That is where the problem started. They had no business to be in football because they had no money.

“You have to at least maintain what is there when you buy a club, never mind spending money to make progress.

“If you don’t have to go into administration that is better news. If you have no other option then you have to go to plan B.

“In my book, I would try everything humanly possible to keep it without administration, pay the bills and go on and rebuild the club.”

Wigan owner Dave Whelan has called for a cap on spending by Premier League clubs and Mandaric believes there should be rules to prevent teams going into heavy debt.

“I think that is evident,” he said. “We have to come up with stronger rules about financing. We talk about running it as a business and most of us aren’t running clubs with business sense.

“There have to be rules to control the expenses, it’s not a difficult one. It is the only way we can see progress in financing terms.

“We can copy countries like France who have been doing it for years. I haven’t seen any clubs in France going into administration.”

Yet Portsmouth, despite their financial troubles, have still been signing players this season.

And Wolves manager Mick McCarthy told the Wolverhampton Express and Star: “We had a player in my office and wanted to sign him and we couldn’t match the deal that was being offered down there. It would be grossly unfair to name the player.

“Then another one that we were trying to sign and we were negotiating with also ended up at Portsmouth, on a deal that we wouldn’t be prepared to give him.

“It doesn’t make me feel bitter, not at all, but it’s cock-eyed that football is allowed to get so much in debt.”