Previous
Manchester City
AS Monaco
7:45 PM UTC
Leg 1
Game Details
Bayer Leverkusen
Atletico Madrid
7:45 PM UTC
Leg 1
Game Details
Caen
AS Nancy Lorraine
5:30 PM UTC
Game Details
Huddersfield Town
Reading
7:45 PM UTC
Game Details
Queens Park Rangers
Wigan Athletic
7:45 PM UTC
Game Details
Sheffield Wednesday
Brentford
7:45 PM UTC
Game Details
Derby County
Burton Albion
7:45 PM UTC
Game Details
Saprissa
Pachuca
2:00 AM UTC Feb 22, 2017
Leg 1
Game Details
Next

Europa League round of 16 draw

Europa League
Read

Trending: Arsenal edge past Sutton

Latest
Read
FC SeoulFC Seoul
Shanghai SIPGShanghai SIPG
0
1
FT
Game Details
Brisbane RoarBrisbane Roar
Muangthong UnitedMuangthong United
0
0
FT
Game Details

Spurs want Millwall tickets cut - sources

Read

Transfer Rater: Otamendi to Madrid?

Transfers
Read
Western Sydney WanderersWestern Sydney Wanderers
Urawa Red DiamondsUrawa Red Diamonds
0
4
FT
Game Details
By ESPN Staff

Portsmouth exit administration as club is sold

Portsmouth have exited administration after former owner Sacha Gaydamak reached an agreement with the club over cash owed to him.

Championship round-up

The club have now confirmed the completion of the sale of the club to Balram Chainrai, Levi Kushnir and Deepak Chainrai, following the approval of the Football League.

But Gaydamak also expressed his frustration with the club for scaremongering about the club being on the brink. Under the deal, Portsmouth will pay Gaydamak £2.2 million in instalments over the next five years.

Gaydamak said on Saturday: "The news this week surrounding football and this club shows that the current preoccupation with money and finance isn't helping the game and its reputation.

"Portsmouth Football Club, its fans, employees, players and the community that surrounds it deserve better than being subjected to rumour resulting from some parties using the press to create uncertainty as a negotiating tactic.

"I fully intended to sign the deal on Friday and had it not been changed at the last minute I would have. Everyone understood on Friday that further negotiations were now required.

"A new agreement was reached late this evening and as soon as I receive the papers I will sign them. I hope this draws to an end this unfortunate uncertainty surrounding the club. I wish everyone involved in the club well for the future."

The club had claimed they were on the brink of ceasing trading because Gaydamak had refused to sign the deal. After Gaydamak confirmed that he would sign an agreement, the club issued a statement expressing their delight that the issue had been resolved.

"The administrators of Portsmouth City Football Club Ltd are pleased to announce that negotiations between the various parties concerning the sale of the club have now been satisfactorily concluded," the statement read.

"Accordingly, the club has now been formally sold by the joint administrators, Messrs UHY Hacker Young, and will continue to trade outside of administration. The administrators would like to thank Mr Gaydamak for his co-operation and assistance in securing the future of the club and acknowledges that he has played an integral part in delivering its survival."

Comments

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment, and may be used on ESPN's media platforms. Learn more.