Pompey boss Grant pleads for sympathetic court verdict

February 12, 2010

Portsmouth manager Avram Grant believes his crisis-hit club deserves a sympathetic verdict when its future is decided in the High Court.

Premier League Pompey face a winding-up petition from HM Revenue and Customs and were this week given some breathing space to stabilise their finances and prove the club is a viable business under new owner Balram Chainrai.

The Fratton Park outfit owe 7.4 million pounds (8.5 million euros) to the Revenue and have a host of other creditors as debts have mounted to over 60 million pounds (68 million euros).

Portsmouth confirmed on Friday that the High Court hearing to decide their fate has been set for March 1.

“Portsmouth Football Club has been informed by the High Court that the hearing of the winding-up petition against the club by HMRC has been provisionally fixed for Monday, March 1,” a statement read.

“The club is working towards bringing new finance into the business and is in advanced talks with prospective buyers.”

Chainrai is trying to find new investors to avoid Portsmouth being wound up or put into administration and is speaking to two parties but no deal has been agreed yet.

And Grant, who is trying to focus on Saturday’s local derby at Southampton in the FA Cup fifth round, called on the High Court to remember Portsmouth is more than a business to its supporters.

“When you buy a building or a property, there are no feelings behind this. But this is not a normal business,” Grant said on Friday.

“The team belong to the fans because they support the club from the day they are born until they day they die.

“We need to think about this. When someone is doing something wrong, you punish them and this is not an easy case because there is money involved.

“But they need to think about the fans, the players and the staff also.”

Pompey’s clash with League One Southampton is sure to be a fiercely-fought encounter as the old enemies meet for the first time in five years.

Grant knows it will take more than fighting spirit for his side, currently bottom of the Premier League, to reach the last eight.

“Everybody has spoken to me about the history between these clubs,” he said.

“But I don’t want to use the word they say because I don’t think it’s a war. On the pitch, it is a big competition but we need to play football.

“I think Southampton play well as a team – they defend as a team and they attack as a team. I think this is the Alan Pardew way – he did the same at West Ham and it will be tough.”

LONDON (AFP)

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Newcastle no longer for sale as Hughton handed full-time job

October 28, 2009

Fallen giants Newcastle are no longer for sale after owner Mike Ashley took the club off the market on Tuesday and then confirmed Chris Hughton will be the Championship leaders’ permanent manager.

Hughton, who had been working as caretaker boss, has been given a contract until the end of the 2010-11 season after taking Newcastle to the top of English football’s second tier as the Magpies bid for a quick return to the Premier League.

Ashley has also pledged to put another 20 million pounds into Newcastle this week to keep them financially stable following his unsuccessful attempt to sell the club.

He had spoken to various prospective buyers in recent months without being able to close a deal and Newcastle confirmed that a bid fronted by local businessman Barry Moat had fallen through after he failed to come up with the asking price of 80 million pounds.

A statement explained the club’s long-term plan – including renaming St James’ Park.

It said: “Whilst confirming these two matters, Newcastle United now aims to move forward on and off the pitch.

“The club aims to maximise its commercial revenues; this includes renegotiating its club sponsor and kit deal, which expire at the end of this season, as well as welcoming offers for the stadium naming rights for next season.”

Managing director Derek Llambias praised Hughton for getting Newcastle back on track after relegation and said: “We are delighted that Chris has accepted the post of full-time manager.

“He has done a terrific job this season and we wish him every success for the rest of this season and beyond. He will continue to receive our full backing and support.”

Hughton added: “It is a very proud day for me to be named as the manager of this magnificent football club.

“I thank Mike and Derek for their support and will be doing everything in my power to get the club back into the Premier League at the first time of asking.”

NEWCASTLE (AFP)

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Asian interest fuels Magpies hopes for quick sale

July 6, 2009

NEWCASTLE (AFP) – Two Asian groups are among those interested in buying English football club Newcastle with owner Mike Ashley having received offers of 100 million pounds (162,000 dollars) for the club.

Managing director Derek Llambias confirmed on Monday that several bids at the sportswear magnate’s asking price have been tabled fuelling hopes of a quick sale.

“There have been more than two bids at 100 million pounds,” he said.

“At the moment, we are in the hands of lawyers and it is all ongoing.

“We are giving interested parties all the help that they need.”

The identities of the bidders remain a secret with all having signed non-disclosure agreements before being granted access to the club’s books.

Llambias is understood to have shown a Malaysian consortium around St James’ Park and the club’s training ground last week, while the Singapore-based Profitable Group and former chairman Freddy Shepherd are known to have held discussions with Seymour Pierce, the investment bank handling the sale.

However, amid suggestions that there have been offers at lower prices – the Malaysians were said to have bid 80 million pounds, but agreed to take on an overdraft of up to 40 million pounds – Llambias is adamant that 100 million pounds remains the figure prospective buyers need to meet.

The Magpies were put up for sale days after Ashley and Llambias held talks with Alan Shearer over the manager’s job, and that vacancy is still to be filled with the new Championship season starting on August 8.

Tags: 100 million, alan shearer, asian groups, asking price, bidders, Derek Llambias, english football club, English Premier League, freddy shepherd, investment bank, james park, magnate, magpies, malaysians, mike ashley, NEWCASTLE, non disclosure agreements, overdraft, prospective buyers, s books, seymour pierce, St James, st james park

Olympiakos reject Owen link

June 30, 2009

Greek Champions Olympiakos have rejected speculation that they are in talks with English striker Michael Owen for a move to the Greek side.

The 29-year-old, whose contract with Newcastle is due to expire on Wednesday, has made it known that he will be leaving the club following four years.

Owen’s management company, Wasserman Media Group, has circulated a brochure to prospective buyers both at home and abroad, with Premier League rivals Hull City and Stoke City both demonstrating an interest.

Olympiakos, along with Roma, have been rumoured as a potential destination for the former Liverpool and Real Madrid star, while other rumors have suggested possible switches to the United States of America or Japan.

But the Greek champions, who recently completed the permanent signing of Matt Derbyshire from Blackburn following an initial loan move, have rejected the speculation.

An Olympiakos spokesperson told skysports.com: “This story is far from the truth.”

“No contact has been made with Michael Owen or his agents and we do not intend to have any contact.”

“Michael Owen is not one of our targets. We already bought the player we wanted from England and his name is Matt Derbyshire.”

Written by: Abhimanyu Rajput