Portsmouth FC on the brink of liquidation | AccountingWEB

Portsmouth FC on the brink of liquidation


PKF’s administrators thought that they had done what was necessary to save Portsmouth FC by offloading first-team players, but matters took a turn for the worse this morning when Balu Chainrai withdrew his bid to buy the club.

Chainrai had been expected to complete the deal this week after PKF’s Trevor Birch spent the past few weeks offloading first-team players in order to push through a sale of the troubled club.

However the Hong Kong businessman released the following statement to Sky Sports News this morning:


» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.


the way it should always be for football clubs

david5541 | | Permalink

if only rangers had followed the same route;

there would have been no relegation

deals will have been struck with the big players in rangers, and /or ongoimg  losses on them limited like pkf did with haim & lawrence.


the american route to administration is far more "entity freindly" and this route is the best half way house for everyone at portsmouth. 

nice to see that

justsotax | | Permalink

the over paid players have repaid the loyalty shown to them by their fans - but i guess if you have a 1.5 mill mortgage.....

its not comparable with Rangers

carnmores | | Permalink

chalk and cheese


scaldro | | Permalink


Completely different to the Rangers case