Source: Daily_Mail
Portsmouth chief Peter Storrie admits the money has run out as players go without pay
Portsmouth chief executive Peter Storrie says there is 'no money left' to run the club following Sportsmail's revelations that players had not been paid last month.
And Storrie admits that he has 'no idea' when the Premier League strugglers financial woes will be sorted out.
Portsmouth are waiting on new owner Sulaiman Al Fahim to deliver on a promise to channel £50million into the club.
'All the money from all the player transfers and the Sky TV money, all of the £35m from January, has gone straight to the Standard Bank,' Storrie told ESPN. 'There is no money left.
'Whatever we spend on a monthly basis comes channelled through from the new owner.
'He has promised to re-finance, and he has shown me all the documentation, but I have no idea about the conditions of the £50m he says will be arriving in a few weeks.
'We need to re-finance, it is as simple as that. As for the players wages for the last month I would imagine it's a blip and they will be paid, but I have spent the last nine to 10 months fighting fires on a daily basis, I'm not giving up.'
Morale is already low at Fratton Park following seven straight defeats that leaves Portsmouth rooted to the bottom of the Premier League without a single point.
And now players have sought explanations after their wages did not land in their bank as normal on Wednesday, the last working day of the month. The club have confirmed the problems, but insist that wages will be paid in the next two days.
'Portsmouth FC can confirm that the first-team squad and executive board was not paid,' they said in a statement.
'The club is currently being refinanced by the owner Sulaiman Al Fahim following the recent completion of his takeover.
'There was a delay in the transfer of funds but the lawyers have received confirmation that this will happen today (Thursday) which will enable the players to be paid within the next 24 to 48 hours. The players have all been informed of the situation.
'The executive board will continue to help the new owner in his efforts to refinance which has come about as a direct consequence of the banks' requirements to retain all television receipts and profits generated during the transfer windows.'
Hart echoed the club's sentiments and insisted the players would not be distracted as they prepare for Saturday's visit to Wolverhampton Wanderers.
'It's a hiccup and a cash-flow problem,' said Hart. 'We explained to the players in a meeting we will receive the rest by tomorrow (Friday) - and the players are happy with that. They will get on with their jobs.
'You put one fire out and another starts up in the corner. That's how it has been in my tenure as manager.
'But you can spit your dummy out and throw your toys out of the pram, or take it as another fire, put it out and get going again.
'It has been a particularly interesting day from about 8.30 this morning - nothing I can tell you about. But you have choices. You either stick together and get through it or stamp your feet.'
Storrie has considered his position over a fraught last few weeks, but he says he is determined to stay at the south coast club after receiving the support of fans.
'Yes I thought about going, but that reception from the fans, how could I go after that,' he said. 'Yes, we have been very close to administration a few times in the last nine to 10 months, but I am not about to give up now.
'I've no idea of the timescale about how long this can go on. I don't want to frighten people. I am sure that if the re-financing that has been promised fails for some reason there will be other people ready to step in.
'There is only so much we can do, by that I mean, the present staff, we are all wholly reliant on the re-financing. Our jobs are to keep everything going until then, and of course I remain hopeful that this club will survive.'
