Home » Portsmouth » Portsmouth to be given £800,000 cash boost by Football League to help complete Championship season

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The money is automatically suspended when a club go into administration but, in recognising the severity of Portsmouth’s plight, the Football League has agreed to release the money.

It will amount to £800,000 by the end of the season and is likely to ensure that Portsmouth can at least complete their fixtures.

The longer-term difficulties clearly remain, with administrator Trevor Birch still looking for further funds and a new owner.

“This money will go a long way towards plugging the club’s financial gap and allowing us to complete the season,” said Birch. “This is clearly a very positive step but I wish to emphasise that we are not out of the woods yet.

“The additional money buys us more time but it does not solve the club’s problems and it does not guarantee the club’s survival.”

Earlier yesterday, Balram Chainrai, the former Portsmouth owner, had said that he should be the “last choice” in the search for a new owner.

Chainrai, who is owed around £17?million as a secured creditor, met Birch on Sunday, when the sheer scale of Portsmouth’s difficulties became clear.

The key problem is the club’s annual wage bill, which is still estimated at £12.5?million. Even after this season, when Portsmouth are likely to be relegated to League One, player contracts are still expected to contribute to an overall annual wage bill of around £6?million. Portsmouth’s players are still to receive January’s wages but have agreed to defer their pay until the end of the season.


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