Recent reports made my Portsmouth Football Club’s administrators reveal that the club now faces a staggering debt of £138 million.
The recently relegated Premier League club was initially reported to be £120m in the red after a creditor’s meeting held last Thursday to discuss how they would repay, but it has been recently revealed that the debts have risen highly.
All such a distant thought to what was in the mind of Portsmouth fans in May 2008, when they took the club to a major honour in winning the FA Cup. Players such a Lassana Diarra and Jermaine Defoe have all left for big money fees, but the money has done only what can be described as ‘disappeared’.
With the club going into administration in February, they are still searching for new owners. With a deal is still yet to be struck with interested parties, the south-coast faithful still have another FA Cup final against Chelsea to look forward too, and that’s all, in what looks to be a few difficult years ahead.
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