Source: Telegraph
Former owner Milan Mandaric's pity at Portsmouth plight
"I feel so sad for Portsmouth that if I was not involved with Leicester and fully committed to that I would think about buying Portsmouth again. It means that much to me," said the Serbian-born businessman, who acquired Leicester in February 2007. [LNB]Indeed, for fear of confusion, he goes on to qualify that statement: "I still have a very big job to do at Leicester and we are going in the right direction with a great, young manager. We're in good shape and I want to take this club back into the Premier League."[LNB] Related ArticlesUtaka: FA Cup run can lift Portsmouth gloomPortsmouth v Birmingham CityDoubt over Chanrai's £15mAlan Smith's football memoriesMandaric charged with tax evasionSport on televisionIt may well be, with Leicester appearing likely to make the Championship play-offs under Nigel Pearson, that they could even swap divisions with Portsmouth. [LNB]Mandaric's former club have gone into administration with the club in such a mess that even that is now being disputed and are set to be deducted nine points if that is ratified by the Premier League. It would leave them 14 points adrift of safety with just nine games to go. [LNB]Portsmouth have the relief of an FA Cup quarter-final at home to Birmingham on Saturday. Victory, and Portsmouth are at Wembley again this time for a semi-final although it may be a painful visit for fans who were last there two years ago when the club won the trophy under Harry Redknapp. The reckless spending, especially on wages, that was embarked upon to sign the likes of Sol Campbell and secure that trophy, played a major part in the club's rapid demise. [LNB]On Friday David James, one of the few survivors from that final, said it would be "phenomenal" to win the trophy again. "It would be right up there with the best achievements of my career if not the best," said the goalkeeper, who has ripped up a lucrative contract extension at the club to stay in the team. [LNB]Mandaric sold up to Sasha Gaydamak three years ago, at an admittedly healthy profit, after owning the club for eight years and then staying on for a brief period as a figurehead. [LNB]He says he is perplexed as everyone else by Portsmouth's spending. "It's 11 years since I took them out of administration and we worked very hard there for years to try and build the club back up," he said. "Sasha Gaydamak wanted to buy it and whatever happened after that, the club deserved more."[LNB]Mandaric, who, the Crown Prosecution Service announced earlier this year, is to be charged with two counts of tax evasion charges he strenuously denies reiterated his belief that the "proper checks and balances" do not appear to be in place when it comes to vetting people who own Premier League clubs. [LNB]"There should be a proper screening when you become an owner," he said. "It seems to me that football is heading for a crash. [LNB]"I've lived through the financial dotcom bubble bursting and football is going the same way. Too many people have made bad financial decisions and spent money that they do not have. [LNB]"I'm gutted by what has happened at Portsmouth. It's a great club with tremendous history and supported by hard-working people."[LNB]However Mandaric said that administration, the terms of which are being challenged by Her Majesty's Revenue and Customs, who have questioned the legality of Balram Chainrai's control of the club, may ultimately be a good thing. [LNB] "The club has survived before and there is no reason why it cannot happen again," he said. [LNB] "I always say 'that which doesn't kill you, makes you stronger'." It may, however, be something the fans find hard to comprehend right now. [LNB]
