Portsmouth parent company goes into administration
Tuesday 29 November 2011
Vladimir Antonov has resigned as chairman of Portsmouth after the club's parent company was placed into administration.
The Russian businessman, whose company Convers Sports Initiatives bought Pompey in June, has also quit as a director of the club following the news.
The company responsible for operating the team - Portsmouth Football Club Limited - continues to trade and is not in administration, though it is now actively seeking new funding.
Pompey 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."
An official statement released by Portsmouth said: "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.
"The club has funding in place for the short term, but will now be seeking alternative investment for its longer-term requirements."
Latest in Sport
- 1 Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 A third of employers never check job applicants' qualifications, survey finds
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Bin bag full of cats' heads discovered near Manchester's Curry Mile
Disgusting, frustrating, but intriguing: how the country really feels about its politicians