Storrie: Pompey close to going bust

Storrie: Pompey close to going bust

Published Jan. 31, 2010 4:40 a.m. ET

The Premier League's bottom club have eased their financial concerns slightly with the sale of Younes Kaboul to Tottenham and the imminent departure of Asmir Begovic to Stoke, but they remain in deep trouble. Storrie claims the club must quickly secure new investment quickly to avoid going bust and he has been negotiating with horse racing tycoon John Magnier and Saadi Gaddafi, son of Libyan leader Colonel Gaddafi. Storrie told the News of the World: "The sale of these players will give the club longer to find investment but it needs investment or finance or a new bank loan. "We have to get that in the next month or two so we can keep this club going." He added: "It is a very unusual occurrence for a Premier League side to be in this position but at the moment there is no finance. "The owners are actively looking for investors into the business or new owners. You cannot go through this on an ongoing basis. "There comes a point where it has to come to a head."

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