A general view of Fratton Park prior to the npower Championship match between Portsmouth and West Ham United at Fratton Park in Portsmouth, England. (Photo by Ben Hoskins/Getty Images)

Portsmouth's Major Creditor Promises To Save Club

Portsmouth FC are in administration and could struggle to find the money to complete the rest of the season.

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Portsmouth's Major Creditor Says He Will Not Let The Club Go Under

Balram Chainrai, Portsmouth's major creditor, says he will not let the club go under, although how exactly that is going to be accomplished is unclear. Pompey administraor Trevor Birch confirmed that he has spoken with Chainrai and the Hong King businessman confirmed that he will be the club's caretaker in the interim as they try to keep the club from being liquidated.

"I have had initial discussions with Chainrai," said Birch. "It is my duty to explore all possible avenues to try to save the club as a going concern."

In an interview on Sunday, Chainrai made just about every promise he could to ensure that the club will not go under.

"I am taking over as caretaker, because if I don't the club will be liquidated," Chainrai said. "I'd prefer someone else to come in to keep it going because I am quite upset to see it in the state it is in now."

Birch and Chainrai are clearly working to keep the club from being liquidated, but Chainrai is only one of the club's creditors. Even if Chainrai is being cooperative in trying to keep the club together and he is the biggest creditor with £17 million owed to him, there are other creditors who are owed money.

Local musician Brian Howe from the 1970's band Bad Company is working on putting together a group to save the club, although it is far from being completed. Howe failed in an attempt to but the club in 1999.

"I do believe there is a way of making this work and I am looking for it," Howe told BBC Radio Solent. "I am looking for people to help. If there is anyone out there who wants to chip in and contribute and form part of a team to do this then move quickly please and get in touch with me"

Howe did stress the urgency needed to get the deal done as desperation sets in at Fratton Park. The club has already been threatened with not being able to finish the season and while that possibility seems to have been eliminated, whether there will be a Portsmout next season remains unclear.

"This can be done but it needs to be done quickly. How went on to say. "I am as desperate as any other fan to try and bring this to fruition. I am not giving up, it belongs to me and 18,000 other people."

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Portsmouth FC Administrator Makes Things Seem Bleak At Fratton Park

For the second time in three years, Portsmouth FC is in administration. Last time, the club was in the Premier League, was in the process of selling off lots of valuable players, and was about to get relegated and receive parachute payments for dropping into the Championship. At that time, Portsmouth were in trouble, but were not in any serious danger of going out of business. This time around, things seem much worse.

Pompey administrator Trevor Birch painted a very dreary picture on Thursday, indicating that the team might not to be able to finish the season.

"We had previously stated that there was a real danger of the club running out of cash before the end of the season. The risk of this happening increases substantially without the money from the football authorities. Unless something significant happens, there is a real possibility that we may not be able to fulfil the season's fixtures."

The team finished in eighth place in 2007-08 and comfortably avoided relegation in 2008-09 before finishing bottom of the Premier League the following season. The level of financial mismanagement at the club over the last five years has been staggering, and they will do well to simply finish the season's fixtures and compete in League One next year. Anything more than that might take a miracle for Portsmouth.

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Portsmouth Set To Enter Administration Again

Portsmouth FC are expected to announce a return to administration following yet more problems with their finances.

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