Portsmouth might be breathing a sigh of relief today as they appear to have shrugged off a potential footballing disaster
by going out of business. The problems were arising this week, as the former owner and the current administrator were failing to reach an agreement on monies owed to the former owner.
If a deal isn’t agreed over the next few days, then the club will have no other option but to close the doors for good. However on the other hand, they could be looking to come out of administration if the deal is agreed in time. This leaves this week as a defining moment in the history of Portsmouth FC.
It looked earlier this week, that the deal wasn’t going to be agreed, however news today broke that the former owner will look to sign an agreement “very soon”. If the deal isn’t signed the club will close, and will be only the second to do so in a very long time. The last club to close its doors was Chester City FC and its always a shame to lose a club and should show everyone out there dreaming for billionaire takeovers.
Billionaires are currently ruining the english game and this could be the first in a long list of clubs that are not being run like a true business. Although this is acceptable on the field, Uefa are bringing in new rules and the premier league may just look at it when clubs run so far beyond capability due to billions of investment.
