Source: Daily_Mail
Cash-strapped Portsmouth owe Tottenham £1m for Stoke goalkeeper Asmir Begovic
Portsmouth's report to creditors has revealed the beleaguered South Coast club still owe Tottenham £1million for Asmir Begovic even though the goalkeeper did not complete a move to White Hart Lane in January. [LNB]Spurs agreed a combined fee of £8.25million for Begovic and Younes Kaboul but the promising goalkeeper rejected the opportunity to be reunited with Harry Redknapp, opting instead to join Stoke in a £3.25m deal. [LNB]Outstanding payment: Ex-Pompey stopper Begovic[LNB]Remarkably, Portsmouth have not lost out, despite owing Spurs £1m in what effectively amounts to a refund, as that amount is more than covered by them bringing in £11.5m from selling Begovic and Kaboul separately. [LNB]That extra cash is, however, a drop in the ocean when considered alongside Portsmouth's debts of £105m, a figure which rises to £119m if the £14m in expected transfer installments that were taken upfront from financial institutions is included. [LNB]Portsmouth's unsecured creditors, who are owed over £90m but can only expected to receive between 20p and 30p in the pound over three to five years if the proposed Company Voluntary Agreement is receives majority backing. [LNB]The 70-page report to creditors revealed Portsmouth owe £38.2million in unsecured loans to former owners and have a tax bill of £17.1million. [LNB]In addition, they owe £17.3million in outstanding transfer fees and £10.35million to finance companies, who assisted with the signings of Glen Johnson, Jermain Defoe and Sulley Muntari.[LNB] Image rights: Arsenal's Sol Campbell is owed money by Portsmouth [LNB] Furthermore, Portsmouth owe £9.76million to 26 agents, including just over £2million to 'super-agent' Pini Zahavi. Nine players, including Sol Campbell, Muntari and Niko Kranjcar who are no longer at the club, are owed a combined total of £3.04million in image rights.[LNB] Portsmouth reveal extraordinary level of debts suffered by troubled clubPortsmouth must take the blame for financial woes, blast Premier LeagueWhopping £119m Pompey debt won't put off bidders, insists administratorPORTSMOUTH FC
