Source: Telegraph
Portsmouth players to be paid in 48 hours
However the organisation is closely monitoring developments at Portsmouth after fresh doubts were cast over its financial viability. Under new rules recently agreed by the Premier League chairmen, the body does have the right to intervene if a club is in serious danger of collapsing. Portsmouth may provide the first test of those rules.
The latest crisis was sparked by the confirmation that Al Fahim had failed to deliver £1.8 million in wages due by the end of September to the first-team squad, manager Paul Hart and the club’s executive board – chief executive Peter Storrie and fellow directors Roberto Avendo and Tanya Robins.
That money will now be paid on Friday, and the Premier League have been guaranteed the finances will go through with Hart attempting to play it down by claiming it was due to a “bit of a hiccup in the cash-flow situation”. He added: "It's one of those glitches that have appeared because of the slowness of the takeover and refunding package."
Al Fahim took control of Portsmouth in August but there have been constant doubts whether he has the funds available to run the club. "We had a meeting with the players this morning and assured them this would be sorted out," Hart added.
Defender Hermann Hreidarsson, who is the players' union representative, said he was not unduly concerned about what was going on. "We didn't get paid but someone came down from the payment department and reassured us we will get paid tomorrow," he said.
However earlier in the day, Storrie, who has come close to leaving the club, said: "All the money from all the player transfers and the Sky TV money, all of the £35 million from January, has gone straight to the Standard Bank (the club’s main lender). There is no money left.” This situation was later confirmed by Portsmouth in a statement. Storrie added: "Whatever we spend on a monthly basis comes channelled through from the new owner [Al Fahim]. He has promised to re-finance, and he has shown me all the documentation, but I have no idea about the conditions of the £50 million 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.
"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."
Al Fahim recently told the club's supporters he will inject £50 million into the club within the next month although most of that is committed to clearing debt.
