VSI
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Portsmouth's parent company in administration

Wed 30th Nov 2011 | Football Club Administration

The parent company of Portsmouth Football Club has been placed into administration it was announced yesterday.

A statement released by the club regarding recent events as a result of issues relating to club chairman Vladimir Antonov and Snoras Bank read, “The club's parent company, Convers Sports Initiatives plc (CSI), has been placed into administration.

“Vladimir Antonov has resigned as chairman and director of Portsmouth Football Club.”

However, statement pointed out that “Portsmouth Football Club (2010) Limited – the company that operates PFC – is not in administration and continues to trade.”

Antonov was arrested last week over alleged asset stripping at Snoras Bank. His announcement that he was stepping down from his role as chairman of the club has placed doubts over the club’s future. It’s understood that funding is in place for the short term, but they are now seeking alternative investment for its longer-term requirements.

Portsmouth chief executive David Lampitt said: "After the extraordinary amount of work put in by so many people over the last 18 months to get to this point, it is incredibly disappointing for the club to find itself in this position.

"I want to assure staff and fans that we will continue to do everything possible to safeguard the position of the club and its longer term future."

The Football League will now investigate a possible points deduction for the struggling Championship club "The matter will be considered by the Board of the Football League as and when all the facts surrounding the administration of the club's parent company become available," a Football League spokesman told the BBC.

http://www.buttonshut.com http://www.buttonshut.com http://www.buttonshut.com

---------------------------------------------------------------------------------------------------

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE F.C. BUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Bolton Wanderers Sell Training Ground To Wigan

Fri 19th Feb 2016 | Football Club Administration

Bolton Wanderers have today confirmed the sale of its Euxton training ground to ‘another North West football club’. The Championship club have debts totalling £172.9m and are...

Northampton Town Application For Administration Withdrawn

Fri 11th Dec 2015 | Football Club Administration

Northampton Town Football Club has confirmed that the application for administration has been officially withdrawn. Legal agreements had been reached this week between the club and Northampton Borough...

HMRC Hands Bolton Wanderers Winding Up Petition

Thu 10th Dec 2015 | Football Club Administration

Bolton Wanderers have been handed a winding up petition by HMRC it’s been confirmed. The club, who are currently bottom of the SkyBet Championship, have debts of over £170m and have failed...

HMRC Withdraw Cobblers Winding Up Petition

Mon 30th Nov 2015 | Football Club Administration

The winding up petition against Northampton Town FC has been withdraw it’s been confirmed. The SkyBet League 2 side has confirmed that the HMRC winding up petition has been officially withdrawn...