Source: Daily_Mail
Pompey ask Premier League to allow them to sell players outside window
Crisis club Portsmouth have confirmed they have asked the Premier League if they can sell players outside the transfer window.[LNB]However, the move will depend on their request being sanctioned by the Football Association and FIFA as well as the Premier League.[LNB]Pompey want to sell some of their players in a bid to pay their bills and have asked the Premier League for permission to do so.[LNB] Dark clouds: Portsmouth are under pressure to find cash[LNB]A spokesman for the south coast club said: "I can confirm we haveput in a request to the Premier League to sell players outside thetransfer window. It is something we are exploring."[LNB]Pompey have not identified any specific players for sale but reportssuggest Algeria World Cup star Nadir Belhadj, midfielder Kevin-Prince Boateng and young defender Mark Wilson could be made available.[LNB]But Pompey are facing a race against time to gain permission to sell anyone.[LNB]While the Premier League and the FA may make an exception for Pompey, it is unlikely FIFA will sanction the move.[LNB]The club are still understood to be in negotiations with twointerested buyers but any deal will have to be done swiftly if eitherof the parties involved is to come to Pompey's rescue.[LNB] Under pressure: Portsmouth manager Avram Grant[LNB][LNB]The club faces a winding-up petition from Her Majesty's Revenue andCustoms over an unpaid £11.7million tax bill on March 1 and willrequire a major injection of cash if they are to avoid being wound up.[LNB]Portsmouth lodged their Statement of Affairs with the High Court yesterday in a bid to prove they are still a solvent company.[LNB]The Statement of Affairs, a detailed look at the club's accounts,was prepared by accountants from Vantis and delivered in time for the4pm deadline[LNB]Six members of the business recovery service worked tirelessly onthe statement since last Wednesday when Pompey were given a week tohand the document to the High Court.[LNB]Don't let go: Nadir Belhadj (No 39) is one of Portsmouth's most valuable assets[LNB]Pompey will return to the High Court on March 1 after HMRC officials have examined the document.[LNB]But there are a number of potential problems for Pompey even if they gain permission to sell players now.[LNB]Belhadj needs games as he is going to the World Cup while Boateng has already played for two clubs.[LNB]But if Pompey are wound up then it would present the Premier League with a massive headache.[LNB]Pompey would throw the competition into turmoil if they fail tofulfil their fixtures and that is something Premier League officialsare desperate to avoid.[LNB]Simon Wilson, a partner with Zolfo Cooper the restructuring experts,warns that Pompey, despite handing in their Statement of Affairs, stillface the very real threat of extinction and that going intoadministration is an unlikely salvation.[LNB]"Arguably, the level of debt associated with this case, will meanthat it is unlikely that a suitable or willing benefactor will befound," said Wilson.[LNB]"Portsmouth therefore face the very real threat of liquidationbecause it is increasingly unlikely that an administration order willbe sought or granted.[LNB]"In this eventuality, the players contracts are no longer assets ofthe club and it would lose its membership of the Premier League.[LNB] Faith: Jamie O'Hara (left) was happy to re-join on loan from Tottenham[LNB]"The role of the liquidator would be to realise whatever free and available assets still remain.[LNB]"The value of these assets would be nominal. While the unsecuredcreditors, including HMRC, would likely see no return from such aprocess, it is not in their interests to continue to support a businessthat is simply not viable and has no financial substance.[LNB]"To continue to underwrite the club would most likely result ingreater losses at a later date. This would be an unprecedented case inthe realms of the Premier League and would throw light on the fact thatclubs can no longer rely on 'white knights' to rescue them fromfinancial ruin.[LNB]"Many football clubs have allowed their levels of debt to grow toimmense proportions. These debts cannot be serviced and investorssimply don't have the appetite or ability to take on such poor businesspropositions." [LNB] Portsmouth midfielder Brown says six wins will save club from relegationPompey non-executive chairman Sulaiman Al Fahim court shortPortsmouth loan star O'Hara threatens to quit Tottenham to further his career PORTSMOUTH FC
