The Fratton Park club have had four owners already this season Portsmouth say they are close to reaching an agreement to avoid being wound up in the High Court.The club's lawyers have been in talks with Her Majesty's Revenue & Customs over a deal which they hope will lead to Wednesday's action being dropped. It is likely that a substantial part of they money owed will be paid, with the rest of the debt being rescheduled. The negotiations came a week after businessman Balram Chainrai became Pompey's fourth owner this season. An agreement has already been reached with the creditors other than HMRC who have been named in the case, which relates to a reported £7.5m VAT bill. If a compromise is reached, it is likely that a substantial part of the money due to HMRC will be paid, with the rest of the debt re-scheduled, thereby avoiding Pompey becoming the first top-flight club going into administration. 606: DEBATE Have your say on the financial woes at Fratton Park New owner Chainrai, a Hong Kong businessman, is looking to quickly sell the club and has no interest in the club going under as he made substantial loans to Portsmouth.[Read more...]