Portsmouth make plea to Premier League to sell players

[ian1964 10,761]

Cash-strapped Portsmouth have asked the Premier League for permission to sell players outside the transfer window.

 

However, BBC sports news correspondent Gordon Farquhar said he believes the transfer window, which ended on 1 February, is a Fifa regulation.

 

"I don't think it's in the gift of the Premier League to allow Portsmouth to sell players outside of it," he added.

 

The club confirmed: "We have put in a request to the Premier League to sell players outside the transfer window."

 

There are two transfer windows a year in England, running from 1 January to 31 January and from 1 June to 31 August.

 

However, if the window is set to close on a weekend it can be extended because of administration reasons, hence the most recent transfer window closing on 1 February.

 

606: DEBATE

They simply cannot grant this as it will open the floodgates...

 

famouszukeeper

 

Pompey, who are believed to be about �£60m in debt, have not identified any specific players for sale but reports suggest Algeria international Nadir Belhadj, midfielder Kevin Prince-Boateng and young defender Marc Wilson could be made available.

 

Portsmouth have already had four owners this season and are understood to be in negotiations with two buyers who are interested in taking them over.

 

The south-coast club, who are bottom of the Premier League, survived a winding up order last week but were forced to deliver a detailed statement of their finances to both the High Court and Her Majesty's Revenue and Customs (HMRC) on Wednesday.

 

And they face another winding up petition from HMRC over an unpaid �£11.7m tax bill on 1 March.

 

Hong Kong-based businessman Balram Chainrai became the club's fourth owner of the season in early February when he secured 90% of the club's shares after previous owner Ali Al Faraj defaulted on loan payments due to Chainrai.

 

Portsmouth are eight points from safety in the top flight and their players have been paid late on four occasions this season.

 

The club are also involved in a separate dispute with former owner Sacha Gaydamak over whether they have missed a deadline in paying a �£9m chunk of the �£28m they owe to him.

 

The Premier League recently withheld �£2m of transfer payments and a �£7m slice of television revenue to divert to Chelsea and Watford for the signings of Glen Johnson and Tommy Smith respectively.

 

The Fratton Park outfit are also being sued by former defender Sol Campbell for �£1.7m for unpaid image rights.

 

Meanwhile, a financial expert says Portsmouth face a very real threat of extinction because of their financial problems and he believes administration is an unlikely option.

 

"Arguably, the level of debt associated with this case will mean that it is unlikely that a suitable or willing benefactor will be found," said Simon Wilson, a partner with restructuring experts Zolfo Cooper.

 

To continue to underwrite the club would most likely result in greater losses at a later date

 

Financial expert Simon Wilson

 

"Portsmouth therefore face the very real threat of liquidation because it is increasingly unlikely that an administration order will be sought or granted.

 

"In this eventuality, the players' contracts are no longer assets of the club and it would lose its membership of the Premier League.

 

"The role of the liquidator would be to realise whatever free and available assets still remain.

 

"The value of these assets would be nominal. While the unsecured creditors, including HMRC, would likely see no return from such a process, it is not in their interests to continue to support a business that is simply not viable and has no financial substance.

 

"To continue to underwrite the club would most likely result in greater losses at a later date. This would be an unprecedented case in the realms of the Premier League and would throw light on the fact that clubs can no longer rely on 'white knights' to rescue them from financial ruin.

 

"Many football clubs have allowed their levels of debt to grow to immense proportions. These debts cannot be serviced and investors simply don't have the appetite or ability to take on such poor business propositions."

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8522283.stm

[Danny 0]

You're gonna do that Jim White outta a job at this rate

 

As for the Portmouth situation, it isn't feasible because then it means other clubs buying players outwith the window.

[Dr Preston Burke 0]

I'm almost certain that Wigan sold Jimmy Bullard to Fulham in April 2006 and it was a simple case of Bullard sitting out the rest of the season, so it's not unheard of

[Danny 0]

I'm almost certain that Wigan sold Jimmy Bullard to Fulham in April 2006 and it was a simple case of Bullard sitting out the rest of the season, so it's not unheard of

 

Was that not when he was out for almost half a season with an injury sustained just after he'd joined his new club?

 

Or does my memory not serve me well.

[andy steel 0]

His fitness hardly affects his registration, though.

[Gazza_8 233]

The end is nigh........

[ian1964 10,761]

Fifa could support Portsmouth request to sell players

 

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8522283.stm