ai???Injustica, injusticaai??? shouted an inconsolable Cristiano Ronaldo, following his teamai??i??s defeat on penalties to eventual champions Spain in their Euro 2012 semifinal in Donetsk. A few hundred miles away on the south coast of England, UKai??i??s only island city weeps silent tears, with no end in sight of their beloved clubai??i??s current plight.

Portsmouth has been a crucial naval port for centuries, but the cityai??i??s most successful football club is slowly sinking in to the abyss of lower league football. 2 relegations in 3 years have seen the club end up in the third tier of English football, League One. Whilst there is an air of optimism and self-belief in opposition camps at the start of the season, itai??i??s all doom and gloom at Fratton Park. Portsmouth FC will start the first match of their 2012/13 campaign with -10 points to their name, a punishment meted out as a result of the club going in to administration twice in 2 years.

Portsmouth

.

To say that the club has ai???fallen on hard timesai??? would be an understatement. This is a club that won the top-tier English League in 1949 and 1950, and the prestigious FA cup twice, most notably in 2008 when they beat Cardiff City 1-0. Itai??i??s been 30 years since Portsmouth last played in League One, but this time the situation is exacerbated by the fact that they have no money to bring in new players, and have had to sell off whatever assets that remain.

A quick look at the clubai??i??s official squad list for the coming season paints a grim picture. No goalkeepers, 3 defenders, 2 midfielders and 5 strikers ai??i?? that is what remains of the Pompey squad after 4 years of financial difficulties and asset-stripping. One of those strikers is Nwankwo Kanu, who has been missing in action and has yet to turn up for pre-season training. Forget putting out a first XI, the manager will have a hard time starting a five-a-side match in training!

2008-2012: Portsmouth FCai??i??s Fall From Grace

A pattern emerges when one sifts through the annals of club buy-outs, and Pompeyai??i??s story is the perfect case-study. Big Business acquires club, invests in players, and then disappears in to the background, waiting for returns on the initial investment. The names and faces keep on changing, but the pattern remains the same.Ai??New owners have a bigger responsibility than just buying players. Day-to-day working capital is like oxygen for clubs like Portsmouth that are not self-sustaining and when the money dries up, it triggers a fight for survival.Ai?? Big Business tries to find a bigger, better business that can take the club off its hands, since it is no longer able to fulfill its promises of continuous cash infusion. And the wheels on the bus keep going round and round, never stopping to realize that slowly but surely, the bus is disintegrating and a premature end to the journey is the only logical conclusion.

Itai??i??s a crude analogy, but the point stands. Portsmouthai??i??s ownership changed hands more times than a Ferrari in the seconds market. Everybody wants to own it, but few can afford to maintain it. The difference is, while the Ferrari only needs gas and a few new parts to continue, the club is forced to sell its major assets – the players – to stay afloat every time a club owner defaults on payments,Ai??. The clubai??i??s value keeps dropping, and the debt keeps on rising.

Portsmouth

Portsmouth

Portsmouthai??i?? problems surfaced soon after it was taken over by businessman Alexandre Gaydamak in January 2006. Although the club was signing international players of the caliber of Andres Dai??i??Alessandro and Benjani Mwaruwari, trouble was brewing under the surface. The FA cup triumph of 2008 simply papered over the cracks as in May 2009, the club was sold to UAE businessman Sulaiman Al Fahim.Ai??With the clubai??i??s financial problems now becoming household news,Portsmouth was forced to sell-off its top players like Peter Crouch, Sylvain Distin, Glen Johnson and Niko Kranjcar.

On October 1 2009, the club openly admitted to not having enough funds to pay staff and player salaries. Unknown to most, Saudi businessman Ali Al Faraj was planning a bid to take over the club and reinstate Avram Grant as Director of Football. The deal went through on October 7 and Portsmouth managed to acquire players on loan before being hit by a Premier League transfer embargo. The club was issued a winding-up petition in late 2009 by HMRC (Her Majestyai??i??s Revenue and Customs) after failing to fulfill player-salary commitments for the second month running, although this was later toned down to a 9-point penalty confirming relegation to the Championship in April 2010.

The 2010/11 season saw Portsmouth struggling in the Championship, although financially the club was a lot more stable under new owner Balram Chainrai. New manager Steve Coterill was named Manager of the Month for October after Portsmouth managed an astonishing 19 points from 7 games. But by January 2011, the club had fallen to 18th and more players were sold or released as player salaries continued to dog Portsmouth. Portsmouth ended the season in 16th place, with talks of yet another takeover threatening to unseat the club.

Convers Sports Initiativs (CSI) was to be the next big business to line-up as a potential buyer. Owned by Russian businessman Vladimir Antonov,Ai??CSI completed their takeover of Portsmouth in June 2011 and immediately set about acquiring new players. Jason Pearce, David Norris, Luke Varney, Stephen Henderson and Greg Halford joined the club and crowd favourite Benjani made a comeback as well. Things began to look up for Pompey fans after 3 nightmarish years.Ai??Alas, that joy was short-lived as an arrest warrant was issued for Vladimir Antonov by Lithuanian prosecutors for alleged wrongdoings at Bankas Snoras, a bank wherein Antonov had a 68% stake. After threats of asset-freezing and parent company CSI going into administration, Antonov resigned as chairman of Portsmouth.

Portsmouth

Ai??Portsm

outh

The new year brought fresh trouble for the club as HMRC issued another winding-up petition, this time over unpaid taxes to the tune of ai??i??1.6 m. Administration followed soon, and the club was given a 10-point penalty. On the pitch, the club struggled to get results and was relegated to League One on April 21, 2012. It was revealed that at the time Portsmouthai??i??s total debts amounted to ai??i??58 m. Player wages and bonuses for the past 2 seasons were still outstanding and totaled to ai??i??3.5M. In addition, the club owed close to ai??i??6 m to the HMRC in form of taxes and general trade.

At the time of writing, Portsmouth have sold 5 and released 6 players, and current manager Michael Appleton expects to lose 18 of his squad players as Portsmouth adapt to life in the lower leagues. Balram Chainraiai??i??s proposal for saving the club was approved in June 2012, and he has a monthai??i??s time to enforce this ideas. Failing this, the club will be liquidated and Portsmouth FC will cease to exist. Players such as Tal Ben Haim and Kanu, who are amongst the highest wage-earners, have been transfer-listed in the hopes of easing the wage bill.

For the supporters, the last 3 years have been surreal. Football has ceased being an escape from real life for Pompey fans and evolved in to a cruel reality. Itai??i??s been an endless cycle, with no starting or ending point in sight. Each season has brought new problems and difficulties for the club, and it remains to be seen whether Pompeyai??i??s time in League One will be any different.

Losing on penalties to the best team in the world is not injustice, just bad luck. Try asking Portsmouth fans the meaning of the word ai???injusticeai???. They have witnessed their club having its heart and soul ripped out, and all that is left is a reminder of the times that once were. Injustice doesn’t even come close to describing Pompey’s predicament.Ai??Every time the club tries to get back up on its feet, it’s knocked down. Ai??And each fall is heavier than the one before. As every other finite entity, it can only take so much.Ai??The next blow might as well knock Portsmouth in to oblivion, and all that will be left will be memories of the heydays under Harry Redknapp, the crowd’s bellowing of “Play up Pompey” and the incessant drumming of John Anthony Pompey FC Westood. The chant could not be truer because, as it stands, the only option for Portsmouth is to play their way up.

___

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