Portsmouth sales inevitable
Portsmouth chief executive Peter Storrie concedes player sales appear to be inevitable.
Last Updated: 06/01/10 5:11pm
Portsmouth chief executive Peter Storrie concedes player sales appear to be inevitable as the financially-stricken South Coast outfit look to avoid going into administration.
With debts of around £60million, departures are needed to satisfy creditors and fend off the threat of a winding up petition by HM Revenue and Customs.
The Premier League recently paid Portsmouth's £7million share of TV money directly to clubs owed money for unpaid transfer fees.
Player sales will be key to keeping the club afloat and with the January transfer window now open, exits are expected soon.
Younes Kaboul has been strongly linked with a switch back to France with Lyon, while David James, Kevin-Prince Boateng and Nadir Belhadj all have suitors.
"If the way to keep this club alive is to sell a couple of players again, we will have to do that - but it will be an owner's decision," said Storrie.
"It will look doom and gloom but what is the other side of that? The other side of that is if you do not sell, then you could well be going into administration.
"The new owners have come in almost overnight and to be fair they have put a lot of money in the club.
"They thought they were in a strong position to replace bank finance and bring in a major new investor that was going to come in and be involved.
"But those two things have not happened and although they are working on doing that, time is catching up with them in terms of the debts and the money that is needed to run a Premier League football side."