Source: Daily_Mail
Portsmouth debt £4m less than thought... but crisis club are still £134m in the red
Portsmouth's debt crisis is not as deep as previously thought, a report in today's Guardian has revealed. [LNB]According to the newspaper, the south coast club are around £4million better off than their most recent financial statement - which showed the club to be £138m in the red -suggested. [LNB]A list of Portsmouth's liabilities published last month detailed a debt of £1.99m owed to Canterbury Europe, Portsmouth's former sponsor and shirt supplier. [LNB] Bonus: Portsmouth have discovered a credit owed by a former shirt sponsor[LNB]But an investigation by the newspaper revealed that Pompey - who face Chelsea in the FA Cup final tomorrow - were actually owed a little over £1.8m from the same company. [LNB]Portsmouth's administrator Andrew Andronikou admitted that the club had discovered a credit in their favour, although stopped short of naming the company in question.[LNB]Andronikou told the Guardian: 'We have discovered that there is a debtor in our favour so the trade creditor figure will come down quite substantially.'[LNB]The report added that although Canterbury Europe stopped trading last year, the company which bought up its assets from insolvency, JD Sports, is not listed as one of the club's creditors. [LNB] Portsmouth flop John Utaka set for cut-price £3m Sochaux switchThe strange case of John Westwood... or Dr Jekyll and Mr PortsmouthPortsmouth administrator Andrew Andronikou will demand compensation if West Ham poach Avram GrantPORTSMOUTH FC
