Who’d Buy Portsmouth Football Club?
Portsmouth are over £50million in debt and they are seven points adrift of the bottom of the Premiership. They also have no training ground, a small dilapidated stadium surrounded by land owned by one of the major creditors.
And yet, according to reports on the BBC, there are four or five interested parties, who want to take over the club. One South African group will provide proof of funds by Monday.
Now let’s suppose you are rich as Croesus. You also like football and feel that buying a football club would be good for your image, business interests and ultimately your bank balances.
There are quite a few clubs with rickety finances and some of these have brand new stadia and very good training facilities. As an example, Southampton has just been bought by a sensible Swiss millionaire, who appears to be enjoying his new role.
So would you buy Portsmouth if you were sane and had no other business with the owners?
No! Especially as you’re be buying a Championship Club.
The Anonymous Widower 
[…] are going into administration, but I suspect in their case it will mean the same thing. As I said earlier, who would buy a club, that doesn’t own the ground, the land around the ground, doesn’t […]
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