Struggling Championship side Portsmouth will entire administration for the second time in as many years, according to the Guardian. Portsmouth, who two seasons ago were FA Cup finalists, have endured a terrible spell since the 2009/10 season, when, with their assets bled dry following the reign of Alexandre Gaydamak, they first entered administration and ended up relegated to the Championship. Now trouble is popping up again - the club is having difficulty paying players’ and staff’s wages, not to mention the massive debts they’re still running from the previous ownership, and administration has seemed inevitable for months now.
Portsmouth Set To Enter Administration Again
Portsmouth FC are expected to announce a return to administration following yet more problems with their finances.
Things looked very different when new owners in Convers Sports Initiatives came in August, but the brief spell of good feeling around Fratton Park proved to be a false dawn in November, when a Europe-wide arrest was issued for main financial backer Vladimir Antonov and the money ran dry once again. The club’s assets have been frozen and neither players nor staff have been paid since December, making the next step rather obvious. If Portsmouth do enter administration, they’re looking at a ten-point points deduction, enough to see them drop into the relegation zone. And so the drama continues.
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