Portsmouth 'must sell' says chairman
Tuesday 04 August 2009
Portsmouth executive chairman Peter Storrie revealed the club must "sell to keep going" with delays continuing over Sulaiman Al Fahim's proposed takeover.
The switch in ownership to Al Fahim from Alexandre Gaydamak looked all set to proceed after the former passed the Premier League's 'fit and proper person' test.
However, the deal is not yet certain to be completed and Storrie warned supporters that with no money coming in from either Al Fahim or Gaydamak, there could be further departures from Fratton Park to add to the big-money exits of Peter Crouch and Glen Johnson.
"Until this takeover happens, neither the old nor the new owner is placing any money into the business," Storrie told The Sun.
"When - and if - it does, I'm not yet aware of what finance will be available for (new) players.
"The business has debts to pay and the banks are not releasing funds, so this leaves the club with no option but to sell to keep going.
"I agree we need new players, a stadium, but we can't do it without finance and we've had none of this for more than nine months."
Latest in Sport
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 New theory could prove how life began and disprove God
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
This is what it's like to be dead, according to a guy who died for a bit