Crisis-club Portsmouth are have been cleared to sell
their players right away - and moved closer to doing a deal with
the Premier League to pay their tax bill.
But the bad news for Pompey is that the Premier plan to play
'hard ball' over an advance of a £11million parachute payment and
will ask them to accept a nine-point penalty that will seal their
relegation fate.
In the latest traumatic and historic twists, the hard-up outfit
learnt that they will be able to trade their men outside the
transfer window due to a little-known 'club in crisis' rule.
Mirror Sport revealed the extraordinary plan yesterday and now
the desperate attempt to sell, sell, sell has started - with clubs
being contacted to sound out interest.
No Premier League team has ever exercised this hardship clause
before and Pompey now have a matter of days to find buyers for
their players to avoid a winding-up order on March 1.
Nadir Belhadj, Kevin Prince Boateng and Mark Wilson are among
those who could find buyers, although insiders revealed last night
that there is 'not much interest' because so many clubs are
tightening their belts.
A further complication in the sales is that FIFA will have to
rule whether those who are moved out can play for their new clubs
immediately - or have to wait until next season.
The Premier League are seeking a ruling from FIFA on this, with
Pompey causing them untold headaches because of their financial
disasters.
Top sources reveal there is 'antagonism in high places' towards
Portsmouth at the Premier League, but they do not want the club to
go bust to cause greater grief.
The plan to advance their parachute money - given to clubs who
are relegated - was first revealed by Mirror Sport last week and
now may be the other way of raising funds.
However, the Premier League would want a guarantee that this
money actually gets Pompey through the season and does not
disappear into a financial black hole.
And there would be a price to pay as Pompey would have to take a
points penalty as part of the trade that would guarantee Avram
Grant's men go down.
Portsmouth have immediate bills to pay - with HMRC asking for
their cash in full and wages to be paid for the rest of the season.
So the parachute payment and the player sales may not even be
enough to cover those costs.
But as no outside investment looks likely - despite chief
executive Peter Storries's claims of 'three or four interested
parties' - player sales and the PL advance are the only possible
ways of raising revenue in the next dramatic few days.
Storrie said: "Of course we don't want to sell any more players,
but we have no choice. Avram Grant still believes he can keep us
up, so he doesn't want to sell any more players.
"But if it's a question of survival or selling, there clearly is
no choice. We have some immediate cash flow issues to resolve."