Tue, 24 Jan 2012 | BUSINESS SALE
Portsmouth FC is due to be issued with a winding-up petition by HM Revenue and Customs over two unpaid tax bills to a total of £1.6 million.
The club is seeking a new owner after its parent Convers Sports Initiatives (CSI) was placed into administration in November last year. At the time of entering administration, Vladimir Antonov, the owner of CSI, resigned as the chairman and director of Portsmouth with immediate effect.
The club now requires fresh investment just to pay its regular operational costs.
David Lampitt, Portsmouth’s chief executive commented on the situation to the BBC, “The club does not have the funding that would have been there if our previous owner had been in place. It has been a difficult two months to balance the financial position of the football club.
“We are in a difficult position and will remain in a difficult position until the ownership is sorted.”
Joseph Cala, an Italian businessman, turned away from a deal to purchase the club last week.
There are other potential buyers, and CSI’s administrator Andrew Andronikou said on Friday that he wants to secure a deal for the club within the next seven days.
A buyer will be expected to come up with £12 million as proof of available funds, and the ability to pay a further £20 million in debt repayments to creditors Balram Chainrai and Alexandre Gaydamak.
The group consists of two companies: one provides electrical engineering services; the other provides electrical testing solutions. Both companies provide comprehensive turnkey solutions, overseeing projects from inception to completion across variou...
Founded in 1996, ‘Project Voyager’ provides luxurious sleeper coaches for band tours, crew transportation, and events across the UK and Europe.
The company delivers highly regarded therapies for compulsive sexual behaviour disorder (CSBD), helping addicts, their partners, and couples to recover. The programmes are offered in a variety of formats, comprising individual therapies, online sessi...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.