Pompey ‘still hoping to find a buyer’

General view of Fratton Park, home of Portsmouth
General view of Fratton Park, home of Portsmouth
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Jamal Lowe. Picture: Mark Robinson

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POMPEY have confirmed there are a ‘significant number’ of parties interested in taking over the club.

In a statement released this evening, the club confirmed it is in ‘a difficult set of circumstances’ after the HMRC served an winding-up petition over unpaid tax.

It says the club’s working capital position has been ‘severely stretched’ since its parent company, Convers Sports Initiatives (CSI), went into administration in November.

It also admits players may be sold to boost funds.

The club confirms a hearing with HMRC has been fixed for February 20.

The statement said: ‘The period from November to January was always going to be one where the club received owner funding.

‘This injection of cash was to cover a number of areas in our working capital requirements, including salaries and PAYE as well as scheduled payments for player acquisitions from last summer.

‘We knew the club would not generate sufficient funds to support itself through this period.

‘However, when CSI, the club’s parent company went into administration, we were given assurances by the administrator of CSI and the charge-holders over CSI (Portpin Limited) that the club would be funded through this period until a new owner was found.

‘This has not happened. One of the reasons for this is that the administrator has not generated expected funds from the sale of other CSI businesses that might have assisted the club’s position.

‘We have been in regular contact with HMRC, the Football League and our creditors to keep them advised of the position.

‘We will continue to work round the clock to achieve the sale of the club as soon as possible, something which remains a priority and the outcome we all hope for.

‘The most important thing our fans can do is continue to support the club and the team by coming to Fratton Park.’