Takeover caused Pompey pay delay

PORTSMOUTH executive directors are close to securing funding for wages owed to players – but new owner Sulaiman al Fahim has been told refinancing the club and paying staff on time is ultimately his responsibility.

Pompey’s chaotic season took a new twist when some players were not paid this week and promised their money by the weekend, the latest episode in a takeover that has been surrounded by uncertainty.

The reason for the delay was explained as “a delay in the transfer of funds” after banks demanded the television receipts and profits from the last transfer window – meaning Al Fahim needs to refinance the club.

The Premier League are understood to be monitoring the situation and looking to see if Pompey fulfil the financial criteria set out to clubs, while the Professional Footballers’ Association (PFA) will deal with any contractual issues if players are not paid.

“It is very disappointing to all of us that the players have, for the first time, had to wait for their contractual remuneration for reasons entirely outside the club’s control,” read a statement on the club’s website.

“It is through the joint efforts of the executive directors that we are in the final stages of securing funding that will allow the club to meet these contractual obligations.

“It is clear that, in order to ensure that the club is able to secure its longer-term future, a more permanent financing solution needs to be found quickly as the executive directors consider it an obligation to the club’s loyal employees and fans, who undoubtedly feel equally disappointed.

“In order to achieve this we will continue to work closely with the owner’s lawyers and associates in delivering the finance that is needed over the next 10 to 14 days.

“Ultimately the responsibility to deliver this remains with the owner.”

Chief executive Peter Storrie explained the consequences of handing over the television and transfer money from the last transfer window straight away, as requested by the banks.

“All the money from all the player transfers and the Sky TV money, all of the £35 million from January, has gone straight to the Standard Bank,” Storrie said. “There is no money left.

“Whatever we spend on a monthly basis comes channelled through from the new owner. He has promised to re-finance, and he has shown me all the documentation, but I have no idea about the conditions of the £50m he says will be arriving in a few weeks.

“We need to re-finance, it is as simple as that. As for the players wages for the last month, I would imagine it’s a blip and they will be paid, but I have spent the last nine to 10 months fighting fires on a daily basis, I’m not giving up.”