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TechnoratiStruggling Portsmouth enters administration
Portsmouth Football Club went into administration on Friday. The nine points that will be docked as a result makes relegation for Pompey almost certain. With reported debts of some 75 million euros, the very future of the club is in jeopardy unless it can find a buyer.
Portsmouth has had four owners this season. It was due to face a winding-up order on 1 March but has gone into administration in the hope of finding a buyer.
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Phil Hall, spokesman for Portsmouth and its owner Balram Chainrai, told RFI that if the administrators can clean up the club's finances there is a chance the club could find a buyer by the beginning of next season.
"Three or four groups looking at the club who are interested, but it's a bit like saying, 'Would you like to buy my car, but I'm sorry there's no wheels and no engine in it,'" he said.
"It's not a very attractive proposition for a car buyer and for a football club potential owner to look a football club with huge debts, it's not very attractive."
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