Portsmouth going bust?

By Sarah Johnston
February 10th 2010, 3:29pm

Portsmouth could become the first Premier League club to go into administration today.

Portsmouth have been given a seven-day stay of execution after their winding-up petition was adjouned in the High Court.

The Premier League club has until 4pm next Wednesday to file a statement of affairs, following a multi-million pound unpaid tax bill.

Chief executive Peter Storrie says Portsmouth are hopeful of finding a new owner - which would be their fifth this season - and the bill could then be paid.

Cardiff City have been given 28 days to find one and a half million pounds to avoid their winding up order, and Southend have also been given an extra 28 days to sort their financial problems.

Comments

by Dave from Ipswich, February 23rd 2010 22:20:47
Good riddance to Portsmouth. They could write a handbook on how not to run a football club. I think it's a disgrace that the owners have allowed the club to get into such a bad state!

Post your comment