Source: Telegraph
Portsmouth seek to delay paying outstanding transfer fees
The club is understood to owe significant amounts of money to a number of Premier League clubs as a result of transfer dealings in recent seasons, but because of the current cash crisis has asked for more time to pay. [LNB]The clubs, thought to include Liverpool, Tottenham and Chelsea, have been told that they will receive payment in full but Portsmouth have pleaded for patience via an intermediary. [LNB] Related ArticlesPortsmouth close in on ZendenPompey pay upSunderland target DistinSport on televisionPremier League Transfer TalkThe transactions involved are understood to relate to the sale and purchase of Peter Crouch, Jermaine Defoe and Glen Johnson among others. [LNB]Telegraph Sport revealed on Thursday that the club has used transfer income from the sale this month of Johnson and Crouch, as well as the first instalment of its Sky money for the 2009-10 season, to pay down debt. [LNB]At the start of last season Portsmouth owed Standard Bank and Barclays a combined £44m, but that figure has been reduced to less than £20m. [LNB]Owner Sacha Gaydamak has been forced to commit the income to debt repayment while he waits for prospective buyer Sulaiman Al Fahim to compile the financing required to buy the club. [LNB]Gaydamak has agreed to sell the club if Al Fahim brings in fresh financing to clear the club's remaining debts, but Standard Bank is understood to be unwilling to extend its loans to the Dubai-based businessman. [LNB]Until Al Fahim is able to produce fresh financing the club will remain in limbo, and the situation is unlikely to be resolved this month. [LNB]Al Fahim can expect a mixed reception at Fratton Park on Saturday when he will attend the club's first match of the season against Fulham. [LNB]Although his proposed takeover was enthusiastically welcomed by supporters, a mood of scepticism has inevitably emerged as the summer has unfolded with the club largely remaining in limbo. [LNB]Al Fahim hopes his presence will be interpreted as a statement of commitment but, amid the backdrop of looming bank deadlines, supporters now simply want official confirmation that his takeover has been completed. [LNB]'There's a real fear the club could go into administration if something's not sorted out,' said Gerald Vernon-Jackson, the leader of Portsmouth City Council. The drastic depletion of the squad over the past 12 months has also alarmed fans. Al Fahim, though, is adamant the club will avoid relegation. [LNB]'Do I think we will still be in Premier League next season? 100 per cent yes,' he said. 'I think we will have a good season. Do you really think I would buy a club that I thought was going to be relegated? [LNB]'Life is never easy, and there will, I'm sure, be many ups and downs on our journey forward. But we are in this together, let us stay together and work together. [LNB]'I wouldn't have gone into this if I didn't have the resources. You don't try and buy a house that you can't afford. Yes, it has taken longer than I would have liked, but it has to be done properly.' [LNB]
