Pompey ask Permission for Fire Sale

[Swanny]

Portsmouth ask for permission to sell players

By Harry Harris, Football Correspondent






Portsmouth have asked the Premier League for permission to sell players outside of the transfer window in order to secure their future.


GettyImages
Defender Nadir Belhadj needs to be playing ahead of Algeria's World Cup campaign


Soccernet can reveal that Pompey urgently need to raise £4 million to pay this month's wages and to resolve more cash-flow issues. And now they have appealed to the Premier League to be allowed to bring in funds via the transfer market.
Portmsouth are due back at the High Court on March 1 over HM Revenue and Customs' winding up order for an unpaid debt of £11.7 million. And while sources inside the club remain conifdent they will be taken over yet again by that date, it seems they urgently need another injection of cash before then.
Rather than the non-starter idea of the Premier League asking all their clubs for permission to fast forward TV monies, it can evoke a special clause in its constitution to allow transfers outside of the January window - provided it is a genuine emergency.
However, there remain many questions about how FIFA would react to this, and whether or not players that are sold will actually be able to play again before the 2010-11 season.
Premier League rules state that clubs are only allowed to sign goalkeepers on an emergency basis outside of the transfer window. In December 2006, Aston Villa signed Gabor Kiraly on loan from Crystal Palace and he played in a 1-0 home defeat to Bolton Wanderers.
Selling players outside allowed transfer periods in order to secure a club's survival is nothing new, although it has always been the case that the buying club has been barred from playing their new signing.
In April 1997, Hull City were allowed to sell Roy Carroll to Wigan Athletic for £350,000 even though the transfer deadline had passed. That money saved the Tigers from going out of business, though the goalkeeper was not permitted to play for the Latics that season.
The south-coast club are tottering on the brink of administration, maybe even liquidation, which would mean re-writing the Premier League table. Portsmouth's results would be expunged from the record, and this would have implications at both ends of the table.
Liverpool would be delighted, given they lost at Fratton Park back in December, but West Ham would be plundged into the relegation zone again as the four points they have picked up against Pompey are wiped out.
To avoid such a complete mess and the knock-on effect of other clubs complaining the Premier League is ready to take one of the biggest decisions within its rules to allow Portsmouth to sell players while no other club can.
Soccernet believes that Pompey have already made the special request to the Premier league and it has reacted positively.
While Avram Grant is shocked that he will lose another key player, and the club may only need to sell one player, they may have no choice if they are to survive. Already it is looking increasingly unlikely that Pompey can survive, although Grant has remained positive, but with another player or two being sold, the chances of him avoiding the drop appears improbable.
Pompey almost sold Algeria World Cup star Nadir Belhadj, midfielder Kevin-Prince Boateng and young defender Mark Wilson before the deadline closed, but for Pompey the window is about to re-open.
Belhadj has been a success and is the most likely to be sold off, but it seems unlikely he would accept a transfer if that means he is unable to play again before the finals in South Africa. If FIFA block registrations, then Belhadj would not even be able to play reserve team football for his new club.
Boateng is an attractive option but the former Spurs midfielder has already played for two clubs. FIFA have been very strict with their "two clubs in one season" rule, and Boateng played for Tottenham against Doncaster Rovers in the Carling Cup last August.
Portsmouth put in their Statement of Affairs to the High Court moments before the 4pm deadline on Wednesday, and are submitting more information on Thursday. That follows Portsmouth becoming first club to be formally declared "insolvent" by accountants in their statement to the courts. Pompey are taking measures to prove they are solvent, including the sale of a player outside of the window.
The ailing club need to address their cash flow crisis with £4 million now and then try to pay off the Revenue in part at least when they next appear in the courts.


Portsmouth ask Premier League for permission to sell players - Barclays Premier League - ESPN Soccernet

[spurs2rise]

Great. Harry will pick up 3 more Portsmouth players. Thats really what will help us get into CL Football.....

[weirddave]

Great. Harry will pick up 3 more Portsmouth players. Thats really what will help us get into CL Football.....

I wouldn't mind Belhadj to be honest with you.
But yeh this is just getting silly now.

[CorLuka Modric]

They really are fooked ain't they, if they make it to the end of the season i'll be suprised.

[Swanny]

They need £4m a month just to pay the wages!!

[Swanny]

Premier League reject Portsmouth's transfer plea



The Premier League has rejected struggling Portsmouth's request for permission to sell players outside the transfer window.Fifa, which sets transfer rules, had indicated it would look favourably on Pompey, who have debts of about £60m.
But the Premier League board has decided it would "not be appropriate" to grant the request.
Pompey are due in court on 1 March to contest a winding-up order which could see them go into administration.
Should that happen, the club which is rooted to the bottom of the Premier League, will automatically lose nine points and almost certainly be relegated.
Had their transfer request been granted, helping them stave off administration, it would have aided their bid to stay in the Premier League but was likely to infuriate their fellow strugglers.



And a Premier League statement read: "The Premier League board can confirm they have been actively considering a request from Portsmouth to transfer players outside of the Transfer Window.
"We are grateful for positive assistance from Fifa and the FA but, having given the matter further consideration and taking into account all factors, the Premier League board have decided that this would not be an appropriate course of action at this time."
Fifa confirmed on Thursday that it had received correspondence from the Football Association relating to Portsmouth's financial situation.
Pompey face the threat of administration or liquidation and BBC sports news correspondent Gordon Farquhar believes world football's governing body would have supported their plea.
"The argument put to Fifa would say it's the integrity of the competition at stake here - if Portsmouth go under all their points would be cancelled and the league table would be falsely affected," said Farquhar.


"For the integrity of the sporting competition, it's better if the club can be kept afloat, at least to play out their fixtures until the end of the season."
In line with the rest of Europe, there are two transfer windows a year in England, running from 1 January to 31 January and from 1 June to 31 August.
Portsmouth sold three players in that window but their financial position has since worsened and they are desperate to raise extra capital by offloading more players.
Burnley manager Brian Laws claimed it would be "ridiculous" to allow Pompey to sell players outside the transfer window.
The Clarets are one off the bottom of the table, seven points better off than Pompey, and Laws said: "Whilst we have every sympathy with a football club that has difficulties, the only ones they should be looking at are themselves.
"They got themselves into it, (they should) get themselves out of it. I would hate to think the Premier League would allow them such a ridiculous thing beyond the transfer window.
"Allowing them to get a player out of the door, get some finances in, and then he goes and scores a goal against us that could be the goal that takes us down - that's ridiculous.


"I would think 100% of the Premier League would be saying the same, so I don't think they would get much support from the clubs."
Pompey did not identify any specific players for sale but reports suggested 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.
They 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 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 Simon Wilson 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 Wilson, a partner with restructuring experts Zolfo Cooper.
"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."

BBC Sport - Football - Premier League reject Portsmouth's transfer plea

[Seajay]

Turns out the PL said no.

[funkfish]

my daily rag says this morning that david gold is considering lending them the money they need as it could help west ham. if portsmouth go under then they west ham lose 4 points but if they keep going but get relegated then david gold will feel west ham will have a better chance of staying in the pl

[kevfball63]

It turns out their debts is nearer 70 million and the debt to the inland revenue is nearer 18 million according to Mark Lawrenson on football focus

[Swanny]

There done mate, I can't see anyway they will escape Liquidation now let alone Administration.

[kevfball63]

There done mate, I can't see anyway they will escape Liquidation now let alone Administration.

Well whats happened is the FA have asked to see the extremeties of it = thats when they have to come clean

[Swanny]

Well whats happened is the FA have asked to see the extremeties of it = thats when they have to come clean

Exactly my point Kev they are doomed.

[funkfish]

its a pity for the fans

[steelktm]

wait, Russia can still sign players so why don't Pompey just try and sell players to Russian clubs, still gets money coming in. and them selling players off.

to me though seeing they are in this much trouble with only 88 mil or so in debt how can a club like liverpool which is at like 280 mil or ManUre which is at like 780 mil keep operating just fine. completely baffles me.

[mattyvw]

Feel sorry for the fans. Would be harsh for them to see them go under. I'm a scarborugh lad and they went about 5yrs ago and the new club has to play 20 miles away while the stadium stands overgrown getting worse and worse. All because of badly run clubs.