Fri, 10 Feb 2012 | ADMINISTRATION
The manager of Portsmouth Football Club has admitted that the club is “prepared for administration”, as efforts to find a buyer for the club become frantic.
Club representatives are meeting with HM Revenue and Customs today to discuss their unpaid tax bill of around £1.9 million. They are expected to ask the tax body for more time to pay the bill, following the intervention of Portsmouth MP, Penny Mordaunt.
The club was left searching for a new owner in November 2011, after its parent company, Convers Sports Initiatives (CSI) entered administration. Mordaunt has this week urged the administrator of CSI, Andrew Andronikou, to meet with representatives of the Portsmouth Supporters' Trust to try to work on a salvaging deal for the club.
HMRC issued a winding-up petition to the club on 3 January this year, over the unpaid tax. Speaking to BBC Radio Solent yesterday, the club’s manager, Michael Appleton, admitted, "I am prepared for administration.”
The team’s players have not yet been paid their wages for January, as the club had its bank account frozen with the winding-up petition.
If the Championship club does enter administration it will automatically incur a 10-point penalty in the league tables.
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