Ahh, for a moment I thought we’d reached stability. Reassuringly, it’s today been revealed that Portsmouth’s parent company CSI has been declared insolvent and has gone into administration. Thank Christ, I thought we’d found someone who was fit to provide boring financial security.
The implications for this afternoon’s revelation are unclear. Whilst Portsmouth themselves are ‘not in administration’, the only funds we can be definite about are for the very non-specific ‘short-term’. That could be the next three days for all we know, so the situation could again be absolutely dire. This seems especially likely when you consider the very downbeat tone of the club's official statement.
On top of that, the FA may well be docking Portsmouth points, as their rules indicate that the insolvency of parent companies can lead to the penalties of the club. Already in a relegation fight, this would be a sturdy iron blow to an already depleted and somewhat deflated squad, and one that our money troubles will only exacerbate.
Supporters can only ask how this has happened again. Since their FA Cup triumph in 2008, Portsmouth have been passing through fiscal travesties relentlessly, and every ‘new horizon’ has proved to be further murky waters ready and willing to suck the club into the mire and drown it.
Sacha Gaydamak, Sulaiman Al-Fahim, Ali Al-Faraj and now Vladimir Antonov have all proven to be walking (yet sometimes invisible) disasters for the club. It beggars belief really. The FA’s ‘Fit and Proper Persons’ test seems to be a completely phantom process. If it had any sort of effectiveness, at least one of the above names would have been prevented from running the club.
It truly is a disgrace. Sorry, but I’m going to keep this point going. The FA has the balls to threaten clubs with the deduction of points if their owners or parent companies go into administration, and yet can’t be arsed when it comes to actually preventing these people from being involved in football in the first place. The consequences of that are now subject of a beautiful summation at Portsmouth.
Worst could come to worst here. With the club statement itself projecting a gloomy outlook on the future, a grim pessimism is possibly the wisest prediction. If Portsmouth Football Club - champions of England in 1949 and 1950, and winners of the FA Cup in 1939 and 2008 – go out of business, then the FA have tragically failed at maintaining an iconic part of the English football picture.
Being a Pompey fan has been a difficult experience over the past three seasons. It’s been a stream of terms that no football supporter likes to hear: ‘insolvency’, ‘administration’, ‘the end is nigh’, ‘Carl Dickinson’. Really, all I want is to get out of this tedious and potentially fatal roundabout, and it’s clear we need help with that from a governing body. We need someone to put us directly in the hands of someone who is interested in the team and wants to provide financial composure.
I hold out hope things will get better, as I always do, but Pompey fans have been punched into the ground so often that it’s no longer easy to conjure up the spirit that embodied our terrific fanbase. One possible subdued ray of light could come in the form of Balram Chainrai. Perhaps the only man in the last five years who offered any degree of steadiness in his time as owner, Balram will presumably be owed money by Portsmouth still, and may be able to assume control of the club. He was never particularly bothered by the club, but he did keep us alive and we have to give him credit for that.
Again though, it’s complicated and we can’t know for sure that he’ll come to our rescue again. All we can be certain of is that, once more, we need a miracle.
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