20 Apr 2010Portsmouth debts 'worse than reported'

Football Clubs News | Football Finance News

Recently-relegated Portsmouth are in more debt than initial estimates suggested, according to a report.

Soccernet reports the South Coast club owe a total of £119 million, with £105 million due to creditors and £14 million in transfer fees yet to be paid, including the deal to bring Jermain Defoe to Fratton Park. Defoe rejoined Tottenham in January 2009.

Portsmouth administrator Andrew Andronikou admitted previous reports had been wide of the mark, but added: "I do not believe that the figures will come as a surprise to anyone who has been interested in buying the club."

Andronikou also said over £9 million is owed to scouts and players' agents, with Pini Zahavi expecting £2 million alone. However, he claimed £40 million of the arrears is due to former shareholders who invested their own money into the side.

Earlier this week, Aston Villa boss Martin O'Neill called on the FA to decide whether Portsmouth will be able to play in next year's UEFA Europa League.

Written by Paul Roberts

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