Vladimir Antonov has resigned as chairman of Portsmouth after the club's parent company was placed into administration just a week after he was granted bail following the collapse of a bank he owned. The Russian businessman, whose company Convers Sports Initiatives bought Pompey in June, has also quit as a director of the club.
However, the company responsible for operating the actual team - Portsmouth Football Club Limited - is still trading and is not in administration, though it is now seeking fresh funds. "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," said Portsmouth chief executive David Lampitt.
"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." A Portsmouth statement said: "The club's parent company, Convers Sports Initiatives plc (CSI), has been placed into administration. Vladimir Antonov has resigned as chairman and director of Portsmouth Football Club.
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