Odds on Portsmouth to be relegated from the Premier League this season have continued to shorten on the exchanges after the club conceded that they may have to sell even more players in the January transfer window.
The club, rooted to the bottom of the Premier League, has lurched from one crisis to another this season, with mounting debt problems and changing ownership off the field and a changes of manager and playing staff off it.
A winding up order issued by HMRC last week has only increased the anxiety on the South Coast and reports chief executive Peter Storrie has admitted that players may have to be sold to keep the club afloat, even though more than £77m worth of talent has departed the club since their 2008 FA Cup win. The club is currently under a transfer embargo, preventing them from signing any new players.
The news saw prices on Portsmouth falling through the Premier League trapdoor drop on Betfair, from a high of 1.45 to a low of just 1.34.
The club has had a tumultuous start to 2010, with players still yet to be paid for December – the third month this season that their wages had been delayed. In addition to the salary problems, the club saw a payment from television rights withheld by the Premier League in order to allow Portsmouth to repay around £7m of debt to other clubs, including Chelsea, Watford and Tottenham.
In the fixed odds market, Victor Chandler are currently best price 2/5 on Pompy dropping to the championship and are priced at 2/1 with Totesport to stay up.