Pompey transfer bid rejected
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Pompey given green light to sell players now
Crisis-club Portsmouth are have been cleared to sell their players right away - and moved closer to doing a deal with the Premier League to pay their tax bill.
But the bad news for Pompey is that the Premier plan to play 'hard ball' over an advance of a £11million parachute payment and will ask them to accept a nine-point penalty that will seal their relegation fate.
In the latest traumatic and historic twists, the hard-up outfit learnt that they will be able to trade their men outside the transfer window due to a little-known 'club in crisis' rule.
Mirror Sport revealed the extraordinary plan yesterday and now the desperate attempt to sell, sell, sell has started - with clubs being contacted to sound out interest.
No Premier League team has ever exercised this hardship clause before and Pompey now have a matter of days to find buyers for their players to avoid a winding-up order on March 1.
Nadir Belhadj, Kevin Prince Boateng and Mark Wilson are among those who could find buyers, although insiders revealed last night that there is 'not much interest' because so many clubs are tightening their belts.
A further complication in the sales is that FIFA will have to rule whether those who are moved out can play for their new clubs immediately - or have to wait until next season.
The Premier League are seeking a ruling from FIFA on this, with Pompey causing them untold headaches because of their financial disasters.
Top sources reveal there is 'antagonism in high places' towards Portsmouth at the Premier League, but they do not want the club to go bust to cause greater grief.
The plan to advance their parachute money - given to clubs who are relegated - was first revealed by Mirror Sport last week and now may be the other way of raising funds.
However, the Premier League would want a guarantee that this money actually gets Pompey through the season and does not disappear into a financial black hole.
And there would be a price to pay as Pompey would have to take a points penalty as part of the trade that would guarantee Avram Grant's men go down.
Portsmouth have immediate bills to pay - with HMRC asking for their cash in full and wages to be paid for the rest of the season. So the parachute payment and the player sales may not even be enough to cover those costs.
But as no outside investment looks likely - despite chief executive Peter Storries's claims of 'three or four interested parties' - player sales and the PL advance are the only possible ways of raising revenue in the next dramatic few days.
Storrie said: "Of course we don't want to sell any more players, but we have no choice. Avram Grant still believes he can keep us up, so he doesn't want to sell any more players.
"But if it's a question of survival or selling, there clearly is no choice. We have some immediate cash flow issues to resolve."
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Pompey transfer bid rejected
Bottom club told they won't be allow to offload any of their squad
The Premier League have rejected Portsmouth's appeal to be allowed to sell players outside of the transfer window.
Pompey had hoped to be able to offload some of their squad to help ease their financial problems, with the club reportedly £60million in debt.
They are due to return to court on March 1 to face a winding-up petition from Her Majesty's Revenue & Customs in the High Court.
Porstmouth had made the unique request to the Premier League and Fifa had already suggested they would look favourably on the idea.
However, the Premier League board have now confirmed they will not give the go-ahead to let them sell players following the closure of the January window.
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."
Portsmouth currently sit bottom of The Premier League, seven points adrift of nearest rivals Burnley. They face Stoke City on Saturday at Fratton Park.
skysports.