Source: Daily_Mail
Credit crunch bites at Portsmouth as club seek Benjani cash from Man City
Portsmouth's financial problems resurfaced last night when it emerged they are in talks with Manchester City over an early settlement for the striker Benjani. [LNB]Portsmouth set up the sale of the Zimbabwe striker in a controversial move during the 2008 January transfer window for just under £9million, but the south coast strugglers are prepared to accept a reduced fee if City settle quickly. [LNB]City are believed to have paid just over £4m up front when they signed Benjani, with the remainder spread over the length of the player's Eastlands contract. [LNB]Instead, Portsmouth are prepared to accept a vastly reduced fee if cash-rich City are willing to pay the balance before the end of this season. [LNB]Benjani's transfer was originally held up over a medical condition in his knee, but Pompey chief executive Peter Storrie still overcame a number of hurdles to enable the deal to go through. [LNB] Enlarge Cut-price: Portsmouth will accept reduced fees for these players rather than wait for staggered payments[LNB] [LNB]Although offers to restructure deals are not uncommon financially stricken Southampton accepted a reduced valuation from Arsenal for Theo Walcott and with Tottenham for Gareth Bale Portsmouth are also negotiating with Real Madrid over the sale of Lassana Diarra. [LNB]Diarra only left Fratton Park in January this year for just under £19m, but Portsmouth have opened talks with the Spanish club in an attempt to persuade them to settle early. [LNB]They are also likely to approach Tottenham over the terms of Jermain Defoe's transfer back to north London, but the move is complicated because of the number of transfers between the clubs in recent years. [LNB]Sean Davis, Noe Pamarot and Pedro Mendes were signed by Harry Redknapp from Tottenham in January 2006 and Defoe followed two years later, but has since returned after just one year at Fratton Park. Spurs chairman Daniel Levy is prepared to find the money for an early settlement on Defoe's transfer and talks are expected to take place between the clubs to find a resolution. [LNB] Big spender: Redknapp splashed the cash during his stint at Fratton Park[LNB]Although Portsmouth's net debt is around £49m, the club continue to insist that it has already been offset by the transfers of Sulley Muntari to Inter Milan, Mendes to Rangers and Defoe's return to White Hart Lane. [LNB]They also have to find money this summer to meet payments due on the deal that brought Peter Crouch back to Portsmouth from Liverpool in a transfer worth £11m. [LNB]
