Last week, debt-ridden Portsmouth FC was given 7 days reprieve to put together a rescue plan for the club. The Premiership side, currently residing right at the bottom of the league but with a proud history spanning back to 1898, has days left to pull off its survival. Just two years since their climactic FA Cup triumph, Portsmouth FC is fighting for its life.
A Late Lifeline?
Chief executive Peter Storrie has commented publicly that he is hopeful of finding a new owner, which would lead to the immediate settlement of their £11.5m tax bill. The one week extension, which ends on February 17th, was granted by the High Court in response to the news that Pompey has two 'serious offers' on the table.
If the club do ultimately meet their demise, the implications will be felt throughout the premiership.
It is likely that, with their disappearance from the Premiership, all points gained playing them would be wiped out. This single act would change the current rankings in the World's number one league.
Chelsea would lose three points and Manchester United would lose six. This would widen the gap between the two top spot competitors from one point to four. Arsenal and Manchester City would also both lose six points.
Betting on Pompey's Future
Whenever there is intrigue and drama, the sportsbooks are never far behind. Currently Ladbrokes, amongst others, has Portsmouth listed as favorites for relegation, with odds of 1/20.
Sky Bet has put up odds of 1/4 that Pompey will ultimately survive and play out all remaining 2010 fixtures but on a darker note, are offering 5/2 that this struggling club won't see out the season.
The financial struggles of Portsmouth and of lower league clubs, who are also facing an uncertain future, is a sign of the times and a sad consequence of the modern, money-centered game.