Portsmouth's £7m share is going to other clubs
Published 15/01/2010 | 03:22
The Premier League are to divert Portsmouth's £7million share of the latest television revenue payments to several other clubs owed money by the south coast outfit after they failed to cover debts.
The Premier League's board have spent the past two days considering what action to take after reviewing Portsmouth's current position as the club desperately sought fresh financing.
But they have failed to convince the league they have the money to cover around £10million in debt to clubs both in the Premier League and overseas.
A Premier League statement said: “The Board of the Premier League has convened to consider what action to take in relation to Portsmouth's football creditors and the distribution of broadcast fee payments.
“The Board has decided to pay those undisputed football creditors that were overdue at the time of meeting. This includes both domestic and overseas clubs.”
It is understood the unsettled accounts are spread across several deals, including the transfer of Glen Johnson from Chelsea in August 2007, the full-back having since been sold on to Liverpool for £18million.
Elsewhere, terms still have to be met over Younes Kaboul's move from Tottenham, Sulley Muntari, now at Inter Milan, from Udinese, John Utaka from Rennes as well as Nadir Belhadj and Aruna Dindane from Lens, who are considering recalling Dindane.