Source: Team_Talk
Level of Portsmouth debts laid bare
Portsmouth's administrators have revealed the extraordinary level of the club's debts - with £1million owed to Tottenham for Asmir Begovic.[LNB] Portsmouth have released their debt report to creditors, spelling out the entirety of the club's debts to be £119million.[LNB]Among the debts is the staggering revelation that Portsmouth owe money to Spurs over former goalkeeper Begovic - even though he never played for the north London club.[LNB]During the final days of the January transfer window it is thought that, when Portsmouth sold Younes Kaboul to Tottenham, the club negotiated a double deal which included Begovic.[LNB]Begovic snubbed a move to White Hart Lane, preferring a transfer to Stoke, but the £1million sell-on clause included in the deal remained despite the fact the Serbian has no connection with the north London outfit.[LNB]A 70-page document sent to the club's known creditors details how Portsmouth also owe £38.2million in unsecured loans to former owners and have a tax bill of £17.1million.[LNB]Portsmouth owe £17.3million in outstanding transfer fees. Rennes were receiving over £630,000 a month for John Utaka, while Glen Johnson's transfer fee from Chelsea was still being paid.[LNB]The club owe £10.35million to finance companies, who assisted with the signings of Johnson, Jermain Defoe and Sulley Muntari.[LNB]Portsmouth owe £9.76million to 26 agents, including just over £2million to the so-called super-agent Pini Zahavi.[LNB]Nine players, including Sol Campbell, Sulley Muntari and Niko Kranjcar who are no longer at the club, are owed a combined total of £3.04million in image rights.[LNB]Portsmouth also owe bonus payments to 28 players, including Peter Crouch and David James, totalling £1.86million.[LNB]The club are still owed money from the sale of Johnson to Liverpool, Defoe to Tottenham and Muntari to Inter Milan.[LNB]Portsmouth became the first Premier League club to be placed in administration earlier this year.
