By Andrew Warshaw
November 30 – Crisis-torn English club Portsmouth could be docked points after its parent company, controlled by Russian businessman Vladimir Antonov (pictured), entered administration.
Last week a European arrest warrant was issued by Lithuanian prosecutors for Antonov in connection with hundreds of millions of dollars that allegedly went missing from a local bank.
He faces deportation on charges of alleged asset-stripping at the Bank Snoras, of which he owns 68 per cent.
Antonov subsequently resigned as chairman and director of Portsmouth and the parent company, Convers Sports Initiative (CSI), was placed in administration.
CSI only took over the English Championship club in June and Antonov’s resignation marks the latest debacle since Portsmouth won the FA Cup in 2008.
Two years later, in February 2010, they became the first Premier League club to enter administration and were consequently deducted nine points which resulted in relegation.
Now they could be hit with a further penalty.
The club has announced that its business operations will remain unaffected and its day-to-day operations carry on as normal, though it seems unlikely the authorities would simply turn a blind eye considering past history.
Antonov is the latest in a line of Portsmouth owners to come under the spotlight, throwing further weight behind the need to tighten up the rules over who can and who cannot financially control English clubs.
Milan Mandarić sold the club to Sacha Gaydamak in 2006, who turn sold it on to Sulaiman Al-Fahim.
After a short period, Saudi businessman Ali al-Faraj took over in 2009 but soon sold it on again to Balram Chainrai (pictured centre).
After the club went into administration the first time, Chainrai took control once again before selling to CSI.
The club still owes hundreds of pounds to creditors following a pledge by Chainrai that all small claims would be settled post-administration.
Portsmouth are 17th in the English second tier and conceded that new backers were now needed.
“The club has funding in place for the short term, but will now be seeking alternative investment for its longer-term requirements,” a statement said.
The club’s chief executive David Lampitt added: “After the extraordinary amount of work put in by so many people over the last 18 months to get to this point, it is incredibly disappointing for the club to find itself in this position.
“I want to assure staff and fans that we will continue to do everything possible to safeguard the position of the club and its longer term future.”
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