Peter Storrie to resign as Portsmouth chief executive

Published: 12:02PM GMT twenty-six February 2010

Adieu: Peter Storrie will give up Portsmouth once administrators have sole bar Photo: AFP

It follows this morning"s headlines that Portsmouth have left in to administration, with debts of we estimate �70 million.

Administration will move a nine-point chastisement for the south-coast club, with the low mark probably condemning the Hampshire bar to relegation to the Championship.

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A matter from Storrie read: "Portsmouth Football Club has rigourously voiced that it has left in to administration department department department currently and this is an intensely unhappy day for everybody continuous with the club.

"However, by this march of movement Balram Chainrai has kept the bar alive and since someone an well-developed event to take this great bar on with uninformed investment to drive Portsmouth in a certain direction.

"Whilst usurpation as arch senior manager of Portsmouth Football Club that it was unavoidable that critique would come my way, the altogether appropriation of the commercial operation was the shortcoming of the owner.

"What I am not rebuilt to accept is the unequivocally personal turn of abuse on websites, emails and internal air wave that I have perceived over the last integrate of days.

"It is my goal to work with the director to assistance sell the commercial operation and I goal that will be discerning as there is already seductiveness in appropriation the club. I will additionally work with Avram Grant on the football side.

"Once the sale is complete, I will proposal my notice to the new owners as set out underneath the conditions of my contract.

"I find it rather mocking that a integrate of months ago my name was being chanted by the fans at a time when I severely deliberate my on all sides at the club. Yet now, since I crop up to be the last one left, they are job for my head.

"My preference to mount down has not been taken lightly, but I have had to take in to comment the views of my family who have witnessed first-hand the outcome that the last fifteen months has had on the lives.

"I have unequivocally enjoyed my eight years at the bar and the success we have enjoyed on the representation - winning graduation to the Premier League and 7 years of top-flight football, culminating in winning the FA Cup in 2008.

"I will unequivocally miss the genuine fans who have been so understanding and great to me, the staff who I have worked with closely and the bar in general.

"I and others at the bar have worked tirelessly to save Portsmouth and instruct right away that the destiny of this bar be secured, because, at the least, the fans merit that."