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Pompey
MarkA249- Premiership
- Post n°2
Re: Pompey
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- Post n°3
Re: Pompey
Portsmouth 'likely to close down'
Pompey went into administration in February 2010
Portsmouth say they are likely to fold after talks with former owner and key creditor Sacha Gaydamak broke down.
The club claim that Gaydamak demanded an upfront cash payment to allow Pompey to exit administration and thereby endangered their ability to trade.
"It appears likely that the club will now be closed down and liquidated by the administrators," said Pompey.
But administrator Andrew Andronikou insisted weekend talks could lead to a "satisfactory conclusion".
The club have been in a precarious position since the most recent plan to exit administration was vetoed on 14 October with the Football League demanding clarification on four issues.
The club initially went into administration in February with debts of about £120m and received a nine-point penalty that made their relegation to the Championship almost inevitable.
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