Portsmouth have denied that they are staring into the abyss of administration after it was reported that confidential talks with HM Revenue & Customs had stalled this afternoon.
The club still hope to delay the hearing of the Revenue’s winding-up petition, which is due to be heard in the Companies Court on Wednesday, by offering £1.8 million on their outstanding tax bill of £7.5 million.
However, if they are unsuccessful, they face becoming the first team since the formation of the Premier League in 1992 to fall into administration. The result will be a nine-point penalty, which will almost certainly confirm their relegation.
Peter Storrie, the chief executive, has argued for more time, saying that he is on the point of bringing in new owners, but the Revenue – like the club’s long-suffering supporters – will feel that they have heard it all beforeThe winding-up petition is listed to be heard at 11.30am on Wednesday, along with one against Cardiff City, who owe the Revenue £2.7 million. Not many people at Wembley on the sunny day in 2008 when the two clubs contested the FA Cup Final would have foreseen this outcome.
But it was the overspending on transfer fees and wages that built the winning Portsmouth team that has led the club here, and it should act as a warning, as should the petitions also due to be heard the same day against Southend United of Coca-Cola League One and Hinckley United of the non-League.
Southend paid a bill of £2.1million in November after taking out a loan, but were handed another bill of £205,000 on Christmas Eve. However, the club disputes the amount and claims it overpaid the original bill.
Hinckley’s name remains on the Companies Court Winding Up List despite the fact that the club claims to have paid a bill of £191,000.
Source:The times
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