David James express fears over Portsmouth's financial situation

16 August 2009 13:26
Portsmouth began their season in disappointing fashion, losing 1-0 at home to Fulham, but James believes it is the off-field issues which fans should be most worried about. Sulaiman Al Fahim's proposed takeover was set to resolve the financial problems at the club, thus safeguarding their top players. Related Articles * Hart calls for Portsmouth takeover saga to end * Portsmouth chief: All managers 'tap up' * 'Pompey must sell to survive' * More Premier League match reports... * Premier League photos * Harry Redknapp on the prowl after Tottenham suffer rash of injuries But the changeover to Al Fahim from Alexandre Gaydamak has stalled, meaning that as it stands Portsmouth cannot refuse any offers and find themselves in dire straits financially. And James believes the predicament is unsettling for the players. "Hearing that dreaded word – administration – attached to a Premier League club, albeit speculatively, is unprecedented in this division. Hearing it in association with your own club is much worse. "It is, after all, a difficult situation to get your head around. Premier League clubs have always maintained this untouchable aura, and yet suddenly even millions of pounds in television revenue and sponsorship may not be enough to keep you financially afloat." Earlier this month executive chairman Peter Storrie delivered the grim news to fans that they are in no position to turn down offers for players until the takeover situation was resolved. Big names such as Lassana Diarra, Glen Johnson and Peter Crouch have already left the club, and James said it was hard to know who was to follow them out of the door. "This league is supposed to be bulletproof. But over the summer months, as we began to sell our players, those left in the dressing room couldn't help looking round and wondering, 'Who's next'," he wrote in his Observer column. "As players and staff queried the security of their employment, it was an uncomfortable irony that Jobsite.co.uk were our new shirt sponsors when Canterbury, who make the kit, went into administration last month." "You can't help but start wondering whose fault is this? Why is it happening? That's a difficult question to answer when the club has accumulated almost £80m in player transfers in the last calendar year – so where has all that income gone? You look at your own wages and you naturally worry about the rest of the staff at the club. "To think that perhaps one of them might lose their job because of the situation, you ask yourself: "Is it because of what I'm earning?" "It is an uncomfortable fact that the salary of a staff member who might lose their job is dwarfed by the money being generated by the first team – in which case how can we not afford to keep them? The numbers just don't seem to stack up." James added that he believes it is essential for the south-coast club to retain as many players as possible, or risk leaving those remaining with an impossible task. "When a club starts selling off its assets the quality of the team inevitably deteriorates, meaning those remaining are left with a difficult task. I'm just hoping that with all the experience of the players that we have we can forge together a team that works well this season."

Source: Telegraph