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Page last updated at 12:27 GMT, Wednesday, 24 March 2010

Pompey allowed to sell players outside transfer window

Pompey

Portsmouth have been given special permission by the Premier League to sell players outside of the transfer window to ease their financial crisis.

Pompey, who had nine points deducted for going into administration, can sell stars on condition they cannot play for another Premier League club this term.

They have debts of about £60m and have laid off 81 staff to cut their costs.

Administrator Andrew Andronikou said: "This decision gives us another option. I'm not expecting an exodus."

Pompey are bottom of the Premier League and virtually certain to be relegated, but Andronikou said there was no immediate need for cash given the income generated by their run to the FA Cup semi-finals.

He added: "The club is now stable and we have control of the cash flow and we are looking at all aspects of its overheads and stripping out unnecessary costs to make it a viable business.

"But the club still needs to play football, it still has a fixture list to fulfil and an FA Cup semi-final to play and hopefully a final to get into. I don't want to interfere with [manager] Avram Grant's plans.

"If there was an opportunity I wouldn't sell more than one or two players.

"This decision is a good one in that it effectively gives us a head start into what we could realise in terms of transfers from our squad of players."

The Premier League's decision is a turnaround after it rejected Pompey's initial plea in February.

But in a statement on Wednesday, the Premier League said it had reconsidered after a board meeting last week.

A Premier League statement read: "The Premier League board meeting that convened last week to consider the administration of Portsmouth FC dealt with a number of matters beyond just the application of the sporting sanction (deduction of nine points).

"In accordance with Premier League rules, postponement of the suspension of Portsmouth FC as a member club was conditional on a number of undertakings being given by the administrators.

606: DEBATE
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"These have now been received to the satisfaction of the board and therefore it has decided to allow Portsmouth FC to make player sales."

However, Portsmouth must fulfil certain conditions before any sales can go through. They are:

1. Players may be sold to other Premier League Clubs but may not play first team football for the new club before the end of the season.

2. Players may be sold to a Football League or foreign club, subject to Fifa's approval.

3. Portsmouth FC may enter into an agreement with another Premier League, Football League or foreign club that a player will be transferred to that other club in the summer.

Pompey, who have had four owners this season, went into administration last month after contesting a winding-up order.

That resulted in the points deduction which has left them 11 points adrift at the foot of the table.

In order to raise funds, the debt-ridden club initially appealed last month to be allowed to sell players outside the transfer window.

In line with the rest of Europe, there are two transfer windows a year in England, running from 1 January to 31 January and from 1 June to 31 August.

Portsmouth sold three players in the last window but their financial position has since worsened.



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see also
Pompey squad chip in to save jobs
24 Mar 10 |  Portsmouth
League probes Pompey rules breach
22 Mar 10 |  Portsmouth
Pompey drop Dindane over 4m fee
21 Mar 10 |  Portsmouth
Portsmouth enter administration
26 Feb 10 |  Portsmouth
Portsmouth give wages assurance
02 Feb 10 |  Portsmouth
UK investor weighs up Pompey bid
21 Mar 10 |  Portsmouth
Storrie quits role at Portsmouth
12 Mar 10 |  Portsmouth
Portsmouth reveal financial state
17 Feb 10 |  Portsmouth


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