Football Clubs News | Football Finance News
Portsmouth's latest television revenue payment will be redirected by the English Premier League to settle outstanding debts with other clubs, it has emerged.
The south coast outfit are due to receive £7 million in this month's instalment of TV money, but it is understood that the cash will instead be split between Chelsea, Watford and Tottenham Hotspur.
League rules state that such action can be taken to protect clubs that are owed money from transfers, with all three sides still waiting to receive payment after doing deals with Portsmouth.
Football finance problems at Fratton Park have meant that the club's non-playing staff only received their December wages on Monday (January 4th), when the owners insisted that the players would be paid within the next 24 hours.
"There are two separate payrolls and we are still expecting the players to be paid on Tuesday," a club spokesperson told the Press Association.
Meanwhile, Portsmouth remain under a transfer embargo and are waiting to see whether the league will grant them permission to renew their loan deal for Tottenham Hotspur midfielder Jamie O'Hara.
Written by Mark Thompson
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21 October 2010
21 October 2010
21 October 2010
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20 October 2010
