Portsmouth - Where has the 'withheld' money gone?
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Where has the 'withheld' money gone?

To kick-off I must say, although this is one of the many things going around in my head at the moment it was pushed more to the front of the queue by some comments made earlier today by Chix...

This month it HAS been said more than once that the premier league had withheld money from Pompey, this is common knowledge.

Money that was part of the latest round of TV money, £7m that we were meant to get at the start of the month, was withheld and paid onto existing creditors...

Fair enough, right?

Although these creditors are 'said' to have been given around £5m, which leaves a surplus if my maths, which is not great, works out - and even my maths can works out that 7 - 5, a reported 5, = 2!!!

So, again as commonly revealed, that £2m was withheld by the premier league - for what, well who knows. It 'seemed' as some form of guarantee for something, the wages you would automatically assume!

This 'illegal' withholding of money was challenged by Peter Storrie and Mark Jacob, and VERY publically.

So, the big question is WHERE HAS THAT MONEY GONE?

The figure bandied around, the £2m, is actually 'said' to be something more along the lines of £1.6m - even so, whatever the amount, WHERE has that gone?

With wages not going through again, and the sales of players 'said' to define wages being paid, SURELY that £1.6m should have at least gone towards the essential, and the necessity that is a MONTHLY PAYMENT OF WAGES!

If it has gone to pay off other 'creditors' so be it, but can anyone be assured that it has?!

Players monthly wages are now around £1.8m per month, so in 'theory' a 'mere' £200,000 was needed for their wages - of course you have the staff to pay, but even with this large number we cannot be talking that much more on top so WHY is there a delay?

Everyone deserves paying but the 'common' member of staff is probably as reliant on this monthly money as you or I would be, they CANNOT afford to be without it - so pull your finger out and pay up.

'If' they cannot do this, again, can someone not step in and DEMAND answers, the footballing authorities MUST have the power to do this!

But where are the premier league, or the FA, to quiz this?

You have the PFA starting to chip in again, but WHY are the premier league not asking more demanding questions from 'faceless owners,' the premier league in particular regarding that 'withheld payment', which I assume was given to the club upon the lifting of the transfer embargo, so where has that gone...


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Saturday January 30 2010

Time: 12:12PM

Your Comments (oldest first)

Change to most recent first
There are obviously other outstanding debts than just the wages, website, catering, marquee, police, tax/NI (1.2M a month) etc etc etc - it is a very large black hole. PUP
Report Abuse
30/01/2010 13:07:00

the Pompey dam has many leaks it would appear!
Report Abuse
30/01/2010 13:14:00

whilst in footballing terms the wages are crucial, in business terms the wages probably are the least legally problematic. A player cannot wind up a club if he is a couple of weeks late on a months salary, particulalrly if the club has a record of paying the salary allbeit late. a long owed creditor can.
Report Abuse
30/01/2010 13:18:00

just a thought they are probably trying to save up the 9 million they need to pay off the February installment to the criminal gaydamak snr(not libellous just fact) who it seems really funded the club. Or a large chunk of the money they will need to pay HMRC to void the winding up order.
Report Abuse
30/01/2010 13:22:00

merlin - the dam isn't there anymore. Twitchy bought it off us. No problems leaking now.. It will just flood us. (not a bad thing to happen at the moment.. tbh).
Report Abuse
30/01/2010 15:58:00

i can see portsmouth and its fans having to do a wimbledon and create afc pompey and start all over again
Report Abuse
30/01/2010 16:49:00

How about merging with the Saints...? That would be an interesting move! Haha. Never!! I'd rather we created an AFC Portsmouth team!
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30/01/2010 18:10:00

NO, NO, NO, NO ,NO!!!!!!! Mr Andrew Skate, you are on your own, I am afraid. There is no way that a merger with the Saints will ever happen. Southampton supporters would rather go blind than to see that day come. No, please direct your attentions eastwards, and hook up with Brighton, (after all, despite the current, highly amusing, very funny, brilliantly entertaining, Carry On film/Brian Rix farce you are probably a bigger club than Brighton, so there's a chance they might say yes) And the two of you can become Sussex Skates.
hornsea islander
Report Abuse
31/01/2010 10:25:00


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