10 Feb 2010Portsmouth given more time over winding-up order

Football Clubs News | Football Finance News

Portsmouth have been granted a seven-day stay of execution over the winding-up petition issued by HM Revenue & Customs (HMRC).

Appearing at the High Court today (February 10th), the English Premier League club were told that they have until next Wednesday to file a statement of affairs proving that their debts can be settled.

HMRC is owed £7.4 million in unpaid tax by the south coast side, who have been late paying their players' wages on four occasions this season.

During the hearing, Portsmouth said that two serious offers to buy the club have been received by Balram Chainrai, who took control last week.

Nigel Hood, representing the club, said that any move to force them out of business would cause "irreparable harm" to suppliers, employees and supporters at Fratton Park.

Portsmouth were one of three clubs appearing at the High Court over winding-up orders today, with both Cardiff City and Southend United receiving an extra 28 days to settle their differences with the taxman.

Written by Terry Mitchell

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