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Portsmouth To Be Sold For 'Nothing' - Peter Storrie
Two potential owners in talks...
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Feb 5, 2010 1:44:00 PM
By Adithya Ananth
Portsmouth chief executive Peter Storrie has revealed that the club will be sold for "nothing", as two new buyers are in discussion to take over the financially stricken club.
The Pompey ship appeared to have capsized following the defaulting on payment of loans and players' wages on four occasions this season. With a winding-up order in the High Court just around the corner, administration appears to be a genuine possibility unless a takeover is completed urgently.
The chief executive has maintained that the new owner would have to take on the club's current debts, as well as the money owed to former owner Sacha Gaydamak.
"I have been talking to someone for some time, as you know, and now there is another party interested," Storrie told ESPNSoccernet.
"I would expect a new owner in place shortly.
"It's certainly good value. The club will go for nothing. The new owner would, though, have to take on the debt, and excluding the money owed to Sacha Gaydamak, the debts are down to £25 million, and most of those are normal footballing debts."
Concerning current owner Balram Chainrai - who recently confiscated the 90 per cent share of Ali al-Faraj following a default on a loan - Storrie added: "He has come in to stabilise the situation and he wants to move it on as quickly as possible, and we are working on it, talking to interested parties."
The Pompey ship appeared to have capsized following the defaulting on payment of loans and players' wages on four occasions this season. With a winding-up order in the High Court just around the corner, administration appears to be a genuine possibility unless a takeover is completed urgently.
The chief executive has maintained that the new owner would have to take on the club's current debts, as well as the money owed to former owner Sacha Gaydamak.
"I have been talking to someone for some time, as you know, and now there is another party interested," Storrie told ESPNSoccernet.
"I would expect a new owner in place shortly.
"It's certainly good value. The club will go for nothing. The new owner would, though, have to take on the debt, and excluding the money owed to Sacha Gaydamak, the debts are down to £25 million, and most of those are normal footballing debts."
Concerning current owner Balram Chainrai - who recently confiscated the 90 per cent share of Ali al-Faraj following a default on a loan - Storrie added: "He has come in to stabilise the situation and he wants to move it on as quickly as possible, and we are working on it, talking to interested parties."
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| Open an account with Sportingbet today and get up to £100 in free bets! |
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| Sign up with William Hill for a free bet up to £25 |
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| Sign up with bet365 for a free bet up to £200 |
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| Sign up with Paddy Power for a free bet up to £50 |
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