Pl Confirms Portsmouth Decision
The Premier League has confirmed it will give Portsmouth’s £7m share of the latest money from the league’s TV rights deal to the clubs that Portsmouth owe outstanding debt to.
After a two-day meeting the Premier League said the cash would be paid to ‘undisputed football creditors that were overdue at the time of meeting’.
Portsmouth owes about £10m to clubs in the Premier League and abroad. The league also ruled that the club’s transfer embargo remains in place but they are hopeful it will be lifted before the end of the month.
The Premier League added it would continue to work with Portsmouth, who are £60m in debt overall, ‘to ensure that arrangements are in place to settle all club liabilities as and when they become due’.
It is understood the unsettled accounts are spread across several deals, including the transfer of Glen Johnson, who has since been sold on to Liverpool for £18m, from Chelsea in August 2007.
Terms still have to be met over the moves of Younes Kaboul from Tottenham, Sulley Muntari, now at Inter Milan, from Udinese, John Utaka from Rennes and Nadir Belhadj and Aruna Dindane from Lens.
The French club are considering recalling Dindane with a view to selling him to another club.
The Premier League’s decision to use the £7m TV money means the club, which is also facing a winding-up order from HM Revenue & Customs (HMRC), still owes £3m in outstanding transfer fees.
