Portsmouth to go into administration

(GSM) – Portsmouth are set to go into administration after the club announced it was unlikely that the club would have a new owner would be found before Monday’s winding-up hearing in the High Court. The Fratton Park club will become the first Premier league club to enter administration.

The move will mean the automatic deduction of nine points, a fact which may very well seal Pompey’s relegation to the Championship at the end of the season.

In a statement on the club’s website Phil Hall, spokesman for the owner Balram Chainrai said, “There is now only a short window of opportunity for buyers to come in with a credible offer. We have to be realistic and having the club wound up is not an option as far as we are concerned.

“The partners have put £17 million of their own money into the club and have a responsibility to ensure Portsmouth Football Club survives.

“Administration would mean the club re-emerging as a healthy financial entity. The club would then become an attractive proposition for a potential buyer who could invest new funds in rebuilding the club’s future.

“We would like to ask the fans, the staff and management of Portsmouth Football Club for their support and patience should this step be taken, as they believe it is the only route left open to them.”

The South Coast club face a winding-up petition from the government’s Revenue and Customs department in the High Court on Monday and manager Avram Grant revealed his fury at the club’s current miserable situation that made his job impossible.

“I feel very sad, very angry, but I need to understand more of the situation. I came to do a football job here and at every step, I couldn’t do the job, I am very sad for me and for everybody.”