Portsmouth begin administration process

Portsmouth have begun the process of going into administration and this will be completed in the High Court tomorrow, a spokesman for owner Balram Chainrai has confirmed.

Administrator Andrew Andronikou has begun the paperwork after a possible buy-out by four consortia failed to materialise by this afternoon’s deadline.

Chainrai’s spokesman Phil Hall said: “We have started the process of putting the club into administration and this is due to be completed at the High Court in London first thing tomorrow.

“The administrator has begun work immediately on the paperwork and this should be completed by tomorrow.”

Pompey will become the first Premier League club to go into administration and will be docked nine points as a result, which virtually ensures relegation from the top flight.

Hall said talks had not broken down with the four interested groups but the club had not been attractive enough to them in its current financial state.

He added: “Once the club is in a more viable state it may become more attractive to them in terms of a takeover.”

Chainrai, who is looking to recover a £17m loan he made to the previous owners, has moved to prevent the club from being wound up in the High Court on Monday over £7.5m owed to HM Revenue and Customs.

The automatic nine-point penalty will leave Pompey on just seven points, 16 behind their nearest rivals.

There is now the prospect of a continuing player exodus and a long period of rebuilding in the Championship.

Andronikou, of insolvency experts UHY Hacker Young, is expected to make a statement tomorrow about the club’s position, although he is unlikely to hold a news conference.

Meanwhile, Portsmouth manager Avram Grant today said he was “very sad” and “very angry” at the situation.

Grant said he had been “more or less” told the club would go down that route, and stressed his experience at Pompey had been one of constant frustration.

The Israeli was installed as the club’s manager in November, having joined as director of football the previous month.

He told Sky Sports News: “I feel very sad, very angry, but I want to understand more (about) the situation before I tell you my opinion.”

Grant admitted the club’s plight had been upsetting.

He said: “Of course, you can imagine. We did a football job here. Every step we couldn’t do our job.

“Now I’m very sad for me, of course, and for everybody.”