Debt a STAGGERING £119m!!!!
It just gets worse and worse - the debt level I mean!
We have gone from having debt as 'low' as, what, some £40m at times was it, to a final amount, according to what Admin Andy - who worked 'through the night' to get this done - has told ESPN Soccernet, of epic proportions...
£119m worth of debt is owed to 'secure and non-secured creditors', who account for £105m of this debt.
Money, £14m, is owed on various transfer fees to 'money lenders' and £9m owed to more than a dozen agents, which includes £2.3m owed to ONE agent alone for ONE transfer deal they conducted!
£38m is owed to 3 'previous owners'...
An amount of £14m, which takes the £105m up to £119m, is 'off the balance sheet' because this 'relates to players.' Gawd only knows what this is? Bonuses, clauses, accommodation and so on and so on I guess?
Admin Andy does not think that the size of debt will 'scare off' potential buyers though, 'far from it' apparently.
It scares me I know that and just HOPE that this REALLY is the final amount and this is everything that we had 'hidden away' in the cupboards. I also hope that these 'creditors' really are owed what they say they are, although that is what Admin Andy and his team are here to find out so we have to have some 'faith' and put 'trust' in them to do this...
Portsmouth accounts reveal £119m debt - here.
Right, I have some loose change in my wallet - £118,999,926 to go...
PLAY UP POMPEY!
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