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.
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
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