Storrie: We came ‘very close’ to administration

Portsmouth CEO Peter Storrie revealed today how the club were ‘very close’ to going into administration, before Al Fahim’s protracted takeover was completed last week.

Storrie - with new owner Sulaiman Al Fahim

In recent months, speculation had grown the club were living ‘way outside their means’ with high transfer fees and even higher wages taking their toll on the club’s financial structure.

It’s been no secret that Pompey have been forced to sell a number of their top players, and a number of their top wage-earners. Glen Johnson, Peter Crouch, Sylvain Distin and Niko Kranjcar have all been sold this summer to balance the books.

Despite eighteen players leaving the club in total, thirteen have arrived. Eight of those thirteen have arrived in the past week, including Israeli defender Tal Ben Haim and Spurs duo, Jamie O’Hara and Kevin Prince Boateng.

Speaking to Sky Sports News, Storrie said: “On a couple of occasions it (going into administration) got very close.

“It’s something I was personally fighting very heavily but at the end of the day you can only ask people so many times to give you a little longer to pay things.

“Some of the football clubs and the revenue and agents were being absolutely fantastic and doing a lot of it on my name really and saying ‘okay, we’ll do it for you Peter’.

“They were being very, very understanding but even they, rightly so, were getting to the point of saying ‘how many more times can we do this?’

“I really do want to say a big ‘thank you’ to all those people (who) helped us so much to get into this position so we’re now going forward.”

Steps have already been made by the club to make sure a financial disaster doesn’t occur again, with rumours suggesting a new £30,000 per week wage cap being introduced.

One player who is set to be offered a new contract is England ‘keeper David James, one of those who was said to be on £50,000 per week wages before. Rumours speculate as part of the new contract, James could be offered a part-time coaching role at the club.

Two more years?

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