OBLIVION ... Grant's club are in trouble
PORTSMOUTH face administration unless they can find a new buyer within the
next EIGHT days.
They came up £2m short as the transfer window closed last night.
Not even the last-minute, £3.5m sale of keeper Asmir Begovic, 22, to Stoke
will be enough to keep them in business.
Pompey had been banking on selling enough players to pay a £7.5m tax and VAT
bill before a High Court winding-up order next Wednesday.
They raised £9.5m by flogging Begovic and £6m Younes Kaboul to Tottenham. But
£4.5m of that is accounted for.
Now they must find yet another buyer to pay off the tax man or they will
become the first Premier League side to take the administration road at the
added cost of a nine-point deduction.
A club insider said: "The end is very close. Unless someone comes in with a
load of new cash within the next week, the club will almost certainly go
bust. If the winding-up order is upheld, we simply can't pay the Inland
Revenue."
Chief executive Peter Storrie was in desperate negotiations with a number of
potential investors last night.
Premier League chiefs have told Spurs to hand them the £6m fee for Kaboul.
They will then deduct £2.7m to meet instalments on four Pompey transfer
deals still not paid for. On top of that, the club must pay £1.8m in wages.
Avram Grant was able to sign Valencia's ex-Everton midfielder Manuel
Fernandes, 23, on loan but missed out on Werder Bremen full-back Dusko Tosic.
Begovic has signed a 3½-year deal at Stoke, snubbing a Chelsea offer to be
their No 2.
Stoke chairman Peter Coates denied Pompey claims Begovic was 'tapped up'
before a move to Spurs could progress.
Coates insisted: "As far as I'm concerned, the transfer was done properly and
above board."