The mancityfans.net football forum

Portsmouth are facing a 10-point deduction after the club's advisors confirmed they are seeking to go into administration.

It will be the second time in as many years that the club has gone into administration. The Fratton Park club face a winding-up hearing next week over an unpaid tax bill and have not been able to pay their players and staff for January.

Peter Kubik, of the club's financial advisors UHY Hacker Young, said: "They are in the process of seeking an administration order - an application to court seeking administration is due to go in any day.

"The club's bank accounts have been frozen due to the winding up hearing and they are finding it very difficult to trade. Once the administration order is in place the bank accounts will be made accessible again.

"We are aware that administration carries an automatic 10-point deduction by the Football League."

Pompey were plunged into another financial crisis after their parent company, Convers Sports Initiatives, went into administration in November. UHY Hacker Young are the administrators for CSI.

The tax bill is for between £1.2m and £900,000 but Kubik said there were many other outstanding bills to pay. Among these, the club needs to pay their electricity supplier in order to avoid being cut off.

"There are lots of bills they need to pay," added Kubik.

In February 2010 Portsmouth became the first Premier League club to enter administration and were deducted nine points, condemning them to relegation.

A 10-point deduction from the Football League would put Pompey on 25 points, outside the relegation places on goal difference alone.

http://www.guardian.co.uk/football/2012 ... nistration

DoomMerchant wrote:...and yet Arry for Engerland is the call of the day...fucl me.

the (alleged, but acquitted) tax cheat is squarely to blame for their quandary, is he not?

cheers

bobby brows wrote:fair comment about the owners being money marks...

...the only ones that suffer are the supporters and the non-playing employees of the club

bobby brows wrote:land the ground is on worth nothing

BlueinBosnia wrote:

bobby brows wrote:land the ground is on worth nothing

Odd. I thought the land their ground was on was worth more than any other ground in professional sport in Britain. Even Stamford Bridge.

bobby brows wrote:

BlueinBosnia wrote:

bobby brows wrote:land the ground is on worth nothing

Odd. I thought the land their ground was on was worth more than any other ground in professional sport in Britain. Even Stamford Bridge.

maybe it is, although i wouldn't understand why? albeit near a railway station there isn't much to the area! Can't believe that the value of the land is higher than stamford bridge (although i suppose thats cos the land that the stands sit on and the pitch are two different entities.) but you never hear of talks to sell the land