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Are Portsmouth running out of time?

Football News 24/7
Portsmouth have dropped into the bottom three of the Championship and relegation looks a real possibility. The club,  docked 10 points after going into administration at the end of last week couldn't afford the cost of a scan for skipper Liam Lawrence boss Michael Appleton told the press on Friday. Defeat at Barnsley on saturday and a win for Nottingham Forest sees Pompey slip into the drop zone.

The club were hit with the mandatory 10 point deduction but have been spared any further punishment by the Football League.

There were fears that Pompey - who also went into administration in 2010 - would be hit with a 20-point penalty because of their recent financial woes.

The club, who saw accountancy firm PKF appointed as administrators, have seven days to appeal the points loss but are unlikely to take any action on the basis that they were expecting much worse.

A Football League statement read: ‘Portsmouth Football Club have been deducted 10 points in accordance with Football League rules and regulations.

‘This Sporting Sanction has been implemented with immediate effect, following formal confirmation that the club is in administration. Portsmouth have seven days to appeal.

‘The Football League will now begin dialogue with the administrator aimed at achieving a successful sale of the club and its continuation in league football.’

According to the BBC - they understand any purchaser would need to provide £12m as proof of funds and assurances they could meet another £20m in repayments to former creditors, Balram Chainrai and Alexandre Gaydamak. That is far in excess if the current £1.6 million due to HMRC.

Italian businessman Joseph Cala recently declared an interest in buying the club but he has not been in the picture in recent days as the some needed far exceeds what he has pledged.

With player wages not being paid on time the danger for the club is that their prize assets could become free agents by default.

It could be a busy week at Fratton Park.

KT

 

 

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