Portsmouth up For Sale
2008-09-28
- Portsmouth face financial ruin
Portsmouth up For Sale
Article By Shane Edwards
Portsmouth Football club are in serious financial trouble and run the risk of financial ruin. Owner Alexandre Gaydamak is so desperate to offload the club, he is likely to accept a down payment of just £20million.
The club is said to be £60m in debt and are projected to lose a further £25m this season. The clubs needs to find £50m this season just to pay the players alone, otherwise there could be a mass exodus in the January transfer window.
The injection of cash has certainly helped Portsmouth not only climb the table and win the FA Cup, but also qualify for Europe for the first time in the clubs history - but at what cost?
Article By Shane Edwards
