13-02-2010, 05:02 PM
Well, we have the answer. The Premier League will NOT help Portsmouth!
Portsmouth have been dealt another blow in their bid to stave off the threat of administration as the Premier League refused to sanction an emergency payment of next season's broadcast revenue.
With Pompey only having until 4pm on Wednesday to present a statement of their affairs detailing a breakdown of their assets and liabilities, it had been suggested that the League would aid their cause by providing advanced funds.
The Fratton Park outfit's minimum guaranteed broadcast revenue for next season is £11million, which would be 'parachute payments' if they are relegated to the Championship, but the Premier League will not provide this money before it is due.
The threat of becoming the first top-flight club to enter administration is looming large for the South Coast side, and the League said the rules on broadcast payments could not be changed just to suit one club.
"The Premier League has very specific rules regarding what happens if a club suffers an insolvency event," said a League spokesman.
"We will not act outside those rules or in a way that undermines the competition."
Pompey are desperate for new investment as they try and pay off a £11.5million debt in unpaid taxes owed to HM Revenue & Customs.
They will return to the High Court on 1st March for the hearing on their winding-up petition.
Source: skysports.co.uk
Portsmouth have been dealt another blow in their bid to stave off the threat of administration as the Premier League refused to sanction an emergency payment of next season's broadcast revenue.
With Pompey only having until 4pm on Wednesday to present a statement of their affairs detailing a breakdown of their assets and liabilities, it had been suggested that the League would aid their cause by providing advanced funds.
The Fratton Park outfit's minimum guaranteed broadcast revenue for next season is £11million, which would be 'parachute payments' if they are relegated to the Championship, but the Premier League will not provide this money before it is due.
The threat of becoming the first top-flight club to enter administration is looming large for the South Coast side, and the League said the rules on broadcast payments could not be changed just to suit one club.
"The Premier League has very specific rules regarding what happens if a club suffers an insolvency event," said a League spokesman.
"We will not act outside those rules or in a way that undermines the competition."
Pompey are desperate for new investment as they try and pay off a £11.5million debt in unpaid taxes owed to HM Revenue & Customs.
They will return to the High Court on 1st March for the hearing on their winding-up petition.
Source: skysports.co.uk