Pompey enter administration

The Bunyip · February 26, 2010

Portsmouth is the first Premier League club to enter administration, as the club has failed to find a buyer in time to prevent it being docked nine points - and thus doomed to relegation.

Estimations place the club debt in excess of £70m and the supposed four buyers interested in purchasing the club failed to produce the appropriate documentation before yesterday's deadline.

So the club had no choice but to enter administration, as it remained Portsmouth's only chance of survival. Had it ceased to exist completely, other Premier League teams that had gained points against Pompey would have had them stripped.

Harry Redknapp, now at Spurs, managed Portsmouth to their FA Cup success a couple of years ago (and some blame him, at least partly, for the financial recklessness that has bankrupted the club) says it was the only solution to Pompey's woes.

Going into administration is the better of two evils," he said. "For the last few weeks they have been talking about going out of business, which is the last thing anybody wants.

"They have accepted they were going to get relegated anyway so they can go down and come back strong again. They can come straight back up again with that parachute money and the crowd behind them at home."

Full story

Glinn Mgraw · February 26, 2010

The Bunyip · February 26, 2010

You a Portsmouth fan, Glinn? Must say I'm disappointed by it. Got nothing but respect for Portsmouth, particularly their fans. They were good value at the Cottage this year.

Glinn Mgraw · February 27, 2010

Yes, yes I am.

Not that I follow the EPL particularly closely.

You can blame former admin P@H for it...

theobambulator · February 27, 2010

God - I used to love Pompey! Pretty disappointing though, it'll ruin our reputation!

azibham11 · February 28, 2010

So surprising, I feel sorry 4 the fans and avram

wk9 · March 1, 2010

BOO!
SHAME PORTSMOUTH(POMPEY)

azhar82 · March 12, 2010

Glinn Mgraw you mate should change teams your team going in the championship anyway

February 26, 2010	#1
The Bunyip Administrator Join Date: Mar 2006 Age: 23 Posts: 935 Blog Entries: 60	Portsmouth is the first Premier League club to enter administration, as the club has failed to find a buyer in time to prevent it being docked nine points - and thus doomed to relegation. Estimations place the club debt in excess of £70m and the supposed four buyers interested in purchasing the club failed to produce the appropriate documentation before yesterday's deadline. So the club had no choice but to enter administration, as it remained Portsmouth's only chance of survival. Had it ceased to exist completely, other Premier League teams that had gained points against Pompey would have had them stripped. Harry Redknapp, now at Spurs, managed Portsmouth to their FA Cup success a couple of years ago (and some blame him, at least partly, for the financial recklessness that has bankrupted the club) says it was the only solution to Pompey's woes. Going into administration is the better of two evils," he said. "For the last few weeks they have been talking about going out of business, which is the last thing anybody wants. "They have accepted they were going to get relegated anyway so they can go down and come back strong again. They can come straight back up again with that parachute money and the crowd behind them at home." Full story Attached Thumbnails

February 26, 2010	#2
Glinn Mgraw Need a dispenser here Join Date: Mar 2006 Posts: 18,435 Blog Entries: 38

February 27, 2010	#4
Glinn Mgraw Need a dispenser here Join Date: Mar 2006 Posts: 18,435 Blog Entries: 38	Yes, yes I am. Not that I follow the EPL particularly closely. You can blame former admin P@H for it...

February 27, 2010	#5
theobambulator Lurker Join Date: Feb 2010 Age: 11 Posts: 1	God - I used to love Pompey! Pretty disappointing though, it'll ruin our reputation!

February 28, 2010	#6
azibham11 Member Join Date: Jan 2010 Age: 11 Posts: 42	So surprising, I feel sorry 4 the fans and avram

March 1, 2010	#7
wk9 n00b Join Date: Jan 2010 Age: 9 Posts: 14	BOO! SHAME PORTSMOUTH(POMPEY)

March 12, 2010	#8
azhar82 n00b Join Date: Aug 2009 Posts: 14	Glinn Mgraw you mate should change teams your team going in the championship anyway