Portsmouth deny administration reports

English Premier League basement club Portsmouth denied on Thursday reports they were going to enter administration.

Speculation about the south coast club’s financial position has been ongoing since the start of the season and intensified last week after it emerged players at Fratton Park had been paid their wages late for the second time this term.

Portsmouth are currently the subject of a Premier League transfer embargo, having undergone two changes of ownership this season.

Sulaiman Al-Fahim’s protracted takeover took three months to complete, preventing the club from signing players during the pre-season while the likes of Peter Crouch, Glen Johnson and Niko Kranjcar, all left.

And Al-Fahim’s time in charge lasted just six weeks, with the players’ wages for September not paid on time.

Al-Fahim then sold 90 percent of his shares to Saudi Arabian businessman Ali Al-Faraj in October but fresh administrative problems led to another payment delay last month.

But in a statement issued on Thursday, Portsmouth insisted Al-Faraj was sorting out the club’s finances and stressed chief executive Peter Storrie was not about to quit Pompey.

“The owner and board of Portsmouth Football Club are disappointed at recent inaccurate media speculation regarding the club’s finances and the threat of administration,” the statement said.

“Ali Al-Faraj and his associates took over the running of the club and inherited a business that had substantial debts.

“Dealing with the finances has been the priority since Al-Faraj came in to pay the players before taking over the club from Sulaiman Al-Fahim.

“The club is not going into administration. If that were the case it would have happened at the end of September or early October.

“This week alone, HM Revenue and Customs were paid two million pounds and other historical arrears are being dealt with on an ongoing basis.

“The new owner has not had the benefit of TV revenue to aid the club, with the next major instalment due in January.

“However, he and his associates have already invested substantial funds to keep the club operating and will continue to do so.

“The owner remains committed to the club and has shown that through his investment to date.

“He will also provide manager Avram Grant with all the tools he needs to ensure the club reaches a position the players’ performances deserve – away from the relegation zone.

“Despite media rumours Peter Storrie remains chief executive and has been holding talks on behalf of the club in other parts of the world.

“Much is happening behind the scenes but constant malicious rumours and speculation do not assist with the proposed major long-term funding that is currently being put in place.

“Finally, we would like to place on record our thanks for the unwavering support shown by our very loyal fans.”

Portsmouth’s off-field problems have been reflected in their results with the 2008 FA Cup winners having won just three times in 15 league matches so far this season.

Last month, Paul Hart was sacked as manager and replaced by Grant.

The Israeli lost his first two games in charge but saw Pompey secure a vital win at home to Burnley last weekend which saw them move to within four points of safety.

Portsmouth are away to Sunderland on Saturday.