Portsmouth 'likely to close down'

Portsmouth 'likely to close down'

Portsmouth say they are likely to fold as they are unable to continue trading after talks with former owner and key creditor Sacha Gaydamak broke down.

The club claim that Gaydamak demanded an upfront cash payment to facilitate a possible deal to go through and allow them to exit administration.

"It appears likely that the club will now be closed down and liquidated by the administrators," said Pompey.

Earlier in October the club's latest plan to exit administration was vetoed.

That proposal was blocked by the Football League on the grounds that they wanted clarification on four issues before handing Pompey's golden share back.

The Championship club went into administration in February with debts of around £120m.

The first Premier League club to suffer that ignominy Pompey were then docked nine points and were subsequently relegated.

Gaydamak was Portsmouth's owner between 2006 and 2009 before selling the club to Sulaiman Al Fahim.

"Despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Gaydamak," said Pompey in a statement.

Pompey administrator Andrew Andronikou added: "We've reached a serious impasse in our negotiations with Sacha Gaydamak and until we can reach agreement with him there is a significant risk that the club will have to be liquidated.

"We have agreed terms with every other party involved but there is now this new obstacle that must be cleared. We are trying to get Sacha Gaydamak to see sense." 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9120108.stm

Awful news. Really feel for the Pompey fans.

This could've happened to us if H&G kept hold of us.

Best wishes to them. I hope they can rebuild in the future with a team in the lower leagues. Very sad to hear this.

A terrible shame, for club and fans.

I can't imagine how hard it must being having the club you love simply stop existing, because of money.

The sooner the powers that be in football stop fannying around and get some proper rulings in about ownership and debt, the better.

It can't come fast enough, so many people are being touched by these kind of situations, it's a disgrace.

YNWA Pompey.

Shocking news used tgo live in Portsmouth when i was a kid
Police used to let us in for nothing

I find it appalling that sky still think thats Rooneys contract signing is more important or in their words todays big story, Than a Club ceasing to exist

Devastating news.

Hope they make it through, all the best Pompey.

So this man would rather shut a club down than walk away. Either way he wont get what he wants. This could have been Liverpool had Hicks and Gillett got there way.

Very bad news, hope everything goes ok for them, feel sorry for their fan's.

Wish them the best.

We have an empathy with them, but this is awful.

I really hope they get out of it, no club deserves to go down like this. FA Cup just a couple years ago and now facing extinction.

YNWA Pompey.

Awful shame if this does happen  and I can see quite a few clubs going the same way in the not to distant future.

Awful news that.

Hope a miracle is headed their way and they pull out of this.

YNWA.

Really feel for the Pompey fans.

I'd be absolutely devastated if the club I loved and supported for all my life were to close down. Especially if the reason was money.

Money is ruining football, but there is nothing that we can do about it.

they are in the clear, Pompey survives YNWA.

News this morning is they are out of administration. Taken over by a previous owner.

Happy days for pompey,another club held to ransom by the money men.

Good to hear they're in the clear.

Nobody likes to see a club go under so this is really good news, If it happened to the scum we'd still feel sorry for them (I think !) we'd have nobody to take to the piss out of for starters !

That's really good news that, nice one.

Nobody likes to see a club go under so this is really good news, If it happened to the scum we'd still feel sorry for them (I think !) we'd have nobody to take to the piss out of for starters !

Everton!