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. 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. Outstanding payment: Ex-Pompey stopper BegovicRemarkably, 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. 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. 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. 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. 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. Image rights: Arsenal's Sol Campbell is owed money by Portsmouth 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.  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

Source: Daily_Mail