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Portsmouth's debt crisis: the experts' views on how and why it happened

21 Apr 2010 18:19:46

Portsmouth's debt crisis: the experts' views on how and why it happened

Andrew Andronikou (Portsmouth administrator, who compiled the report): "Once the report goes out to creditors, it will give the creditors an opportunity to write back and actually specify exactly what we do owe them so there may be a further variation in that figure. "It could go higher it could go lower. There is nothing better than having a third party confirm the exact balance between the club and the creditors.  Related ArticlesPortsmouth crisis laid bare in accountsEx-owners and florists among Pompey debtorsPortsmouth 1 Aston Villa 2Wigan 0 Portsmouth 0Portsmouth 'do not deserve' to win appealPortsmouth fear Avram Grant exit"As far as I'm concerned the document is as accurate as we can get it to date. The process of sending out this report and the process of communicating back will certainly iron out any differences between the two parties." (Source: Sky Sports News) Richard Scudamore (Premier League chief executive): "I'm on record as saying in January that if a club, whilst in the Premier League, went into administration it would be down to bad management at the club. And it is. "If you start the season knowing you're going to get between £30 million and £50 million as a starter from the Premier League, through the year, it is entirely possible to get yourself organised so you don't get into the difficulties that Portsmouth got into. "It is one of the great balancers of our league. All the money is distributed evenly, so Wigan and Burnley this season will have earned as much international television exposure as Manchester United, Chelsea and Arsenal. "That's an important redistribution mechanism - and that's what stands us out from the other leagues in Europe, particularly the Spanish." (Source: BBC Five Live) Harry Redknapp (former manager): 'Who knows where the money has gone, who knows what they have done? My record was amazing, unbelievable. 'Sylvain Distin was free, sold for £5 million, so with his wages cost nothing. Lassana Diarra cost £5 million, was paid £2.5 million in wages, and they sold him for £22 million. Glen Johnson cost £4 million, was on £30,000 a week, they sold him for £18 million. They even made £9 million profit on Jermain Defoe. 'They didn't say: 'We haven't got money so we're not going to spend'. They spent about £11 million."


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