Is a giant about to fall?

In recent years we have seen some smaller clubs fall by the wayside; Rushden and Diamonds, Chester City and Halifax. But now obscurity threatens Portsmouth and Rangers.

I don’t expect Rangers to go into liquidation due to the size and potential of the club, but for now I fear for Portsmouth.  The South Coast club have entered administration for the second time in a couple of years and there is a real chance the club will fold unless a new buyer can be found.

News yesterday that the club will be seeking a new CVA and the offer appears to be a 20% offer on the 20% that creditors have already taken. The club is already under a transfer embargo and the situation concerning players is also unclear.

Portsmouth don’t have any assets outside of their playing staff and with relegation a real threat and with that , lower revenue, the club appears to be in an insolvent situation as the income of the club is far outweighed by its expenditure.

The situation being at the moment that it is not certain to be in a position to fulfil its fixtures this season. I admire those players who both refused the opportunity to leave in the January transfer window and have also deferred their wages. If I was an employee I am not sure that I would have accepted that myself, and let’s not forget as high as some of these players may be paid, they still have families to keep and bills to pay.

Of course for the players and backroom staff, there will always be other clubs and other opportunities. But for fans and volunteers there will only ever be one Portsmouth Football club. I hope for their sake, the axe doesn’t fall on this proud club.