DEBT BREAKDOWN
Loans
Coutts & Co (another bank) created 15 July 2009 - debt unknown
Certain
Balram Chainrai ('short-term' loans) £18.75m
Lens (Dindane and Belhadj - Lens 'agreed' revised repayment plan after defaulting) £4m-8m
Rennes (Utaka transfer - Rennes 'want Portsmouth shut down' after defaulting) £4m-£6m
Chelsea (Johnson transfer) £3m
Campbell (former player suing for 'image rights') £1.7m
Claimed
Udinese (Muntari transfer - reported Portsmouth to Court of Arbitration) £4m
Spurs (Kaboul transfer inc. add ons in event of resale) £3.5m
Agents (Diarra transfer - Willie McKay, other) £3m
Disputed
Alexandre Gaydamak Jnr (£9m due this Jan, further £19m to follow - just paid £2.5m to Barclays to clear overdraft, repayment 'negotiable' according to The News) £30.5m
HMRC £11m (disputed - Portsmouth claim to have paid £4m and are due a return!)
Speculative
Watford (Smith, Williamson transfers) £3m
Rolling Debt
Estimated £3m in wages, per month
Debt Settled
Standard Bank (settled 26 Sep 2009)
Singer & Friedlander (4 Nov 2009)
Barclays (paid by Gaydamak Jan 2010)
TOTAL DEBT (my conservative estimate): Around £85m
Other Notes 'meanwhile, in other news...'
- Manager widely reported to be visiting brothels.
- 2 skint Arabs who have continued to tussle for power (Al-Fahim owns 10% of nothing, 'Falcondrone' of Al-Mirage owns 90% of the remaining nothing.)
- Shady Israeli-French-Russian former chairman and equally shady ex-arms dealing Israeli-French-Russian father of previous chairman in the background asking for repayment on past expenditure whilst tying up all the important land around Fratton Park.
- Ex-manager Harry Redknapp in court for tax evasion.
- Ex-chairman Milan Mandaric in court for cheating public revenue.
- CEO in court for tax evasion (Storrie claims that he thought Hayling Island was 'offshore').
- Shamed ex-Israeli lawyer banned from practicing/elected as director in charge of their affairs.
- Only around 10,000 season ticket holders.
- 'Kids a quid' even failing to improve attendances - still averaging less than Southampton and is one the lowest in the Prem.
- New 'Potty' ground at Horsea on hold until 2027.
- No training ground - still training in a field in Eastleigh.
- Don't own their own ground - secured against a loan to pay staff wages.
- Gaydamak owns most valuable land around Fratton Park which will prevent any redevelopment for as long as they are in dispute- Players being paid astronomical wages SOMETIMES ALMOST DEFINITELY MAYBE (Utaka £80,000, James £60,000 and still on the payroll.)
- Short-term loans in abundance, no doubt with a huuuuuuuuuge emphasis on interest.
- Youth team disbanding.
- Coaches, scouts and other staff already 'culled'.
- HMRC winding up order Feb 10th.
- Attempting to sell Mike Williamson to Newcastle for £1m, only later to discover that any resale will evoke a clause meaning they would have to pay Watford £1.25m.
-David James transfer breaks down for the second time as Stoke failed to find an official from Portsmouth to rubber stamp the loan deal. Presumably he was going through Mike Williamson's Newcastle move with a fine-tooth comb.... Oh.
- 6,000 odd for the FA Cup 3rd round, 8,000 odd for the an all-Prem tie in the following round.
- Laughable claim from Grant that Portsmouth are being treated as the ‘black sheep’ of the Premier League and being treated differently to everyone else (Fact, Avram – Portsmouth’s debt is unserviceable compared to the teams you are referring to. In fact, you’ve been bloody lucky.)
- Rumours of trying to scam the Premier League to remove the embargo by not naming all the alloted substitutes in games.
- Rumours of the club 'watering' the pitch overnight to get the home game versus B'ham called off while missing 4 players at the ANC.
- Original 'protest' scheduled for the B'ham home game which was cancelled mustered just 70 odd supporters.
- Persistant lying/backstabbing/deckchair shuffling/arguing/squabbling between directors, fans.
- Pitch invasions mar 2-1 victory verus Sunderland in the FA Cup.
- Cup draw pits Pompey versus Saints at St. Mary's - Pompey fans react cautiously, Saints fans sense a humiliation.
- Rumours of more anarchic behaviour planned as further protests as Portsmouth fans start to revolt. One wonders where 70,000 of the 80,000 on Southsea common are these days...?
- Saadi Gadaffi rumoured to be an interested investor - robustely denied but still... what a disgusting link.
-Storrie claiming he is an ‘excellent negotiator’ – the same negotiator who justified £80,000 pw for John Utaka and their £50m overspending?
- Despite this, transfer embargo was lifted by the Premier League which Portsmouth hurriedly announced on Solent before all the big news broke. More embarrassment.
- Non-payment of wages could trigger a mass-exodus of staff and players.
- Despite this, Portsmouth (and the Premier League) deem that Portsmouth have no outstanding football debts and lift embargo. Portsmouth sign Quincy Owusu-Obaeiye on loan, rumoured to be on £20,000 a week (it is unknown if Portsmouth are contribruting to the wages, however...)
- After missing three previous deadlines for wages of the PFC staff (including the see-through and blatant lying from Mirage, Trump and Storrie) the club issue another warning that the wages ‘may be late’ for January.
- Official club website taken down by its hosts, Juicy over an unpaid £20,000 bill.
- Club forced to shut training centres in Guernsey over £2,000 unpaid coaches fees. Saints to step in rescue the centres!
- Other training centres regionally (Guildford etc) all shut down or are closing.
- Club cars all taken back by suppliers.
- Club transport (mini buses etc) forcibly removed from PFC.
- Rumours of more unpaid bills relating to the training grounds PFC use.
- Programme suppliers threatening to withdraw service is unpaid bills are not met
-Another winding up petition issued by Grosevenor Basingstoke.
- Grant and Storrie on the brink of resignation as players are sold behind their backs against their wishes (only believe Grant on this one, though.)
- Directors and club officials completely at war with each other.
- Fan base utterly demoralised, resorting to mud-slinging about Markus Liebherr (SFC chairman) about his past (allegedly, he was a Tiger tank driver in WWII, his father was a Nazi etc- despite Markus’ being born 2 years after the conclusion of WWII)
- Top scorer Aruna Dindane likely to move to Birmingham from parent club Lens for £4m or loan.
- £3m defender Mike Williamson finally joins Newcastle for an 'undisclosed fee' - but is rumoured to be a free with Watford receiving the sell on clause money.
- No pitch perimeter advertising due to unpaid bills, no marquee due to repossessed generators before Sunderland game... think that would then be everything covered.
- Scoreboard unused for West Ham game due to unpaid electrical bills/conserve money.
- Amusingly, some lights inside the ground were swtiched off towards the end of the game versus West Ham, presumably to conserve money.
- Portsmouth's 'vital football' website reveal shocking list of other outstanding creditors (http://www.portsmouth.vitalfootball.co.uk/article.asp?a=186261) which includes the catering company which withdrew its staff and services on the Monday, a coach company and an un-named taxi firm.
- Storrie unashamedly wheezes that Portsmouth have an optimistic '2 months at best' before the fat lady belts out a chilling en core.
- Latest roll out of excuses for wages not being paid are: lost data, bank's fault, HMRC's fault....
- A familiar non-response from Portsmouth's 'powers-that-be' on the extension of David Nugent to Burnley leaves both club and player in limbo. Portsmouth? Unsporting behaviour? Never!
Have I missed anything? Please, let me know :-D
*** Kaboul and Begovic on the brink of moving to Tottenham for a paltry £6m after the sell-on clauses and money already owed to Spurs is deducted.
