Premier League hold back Portsmouth cash
The Premier League will hold on to more than £2million from Portsmouth's player sales in January to cover money owed to other clubs as more financial pressure was today heaped on the south coast side.
Chelsea and Watford will both receive cash owed from when financially-stricken Pompey signed Glen Johnson and Tommy Smith respectively.
Once the players' wages have been covered, the £4million remainder from the £8million Portsmouth earned from selling defender Younes Kaboul and keeper Asmir Begovic could be an important lifeline.
The club will use a chunk of the cash to try to persuade HM Revenue and Customs to reschedule the payments on the £7.5million owed in VAT.
However, another creditor has also joined in with HMRC's winding-up petition to the High Court on Wednesday next week.
Grosvenor Basingstoke Properties are claiming they are owed money by Portsmouth though that is being disputed by the club.
Meanwhile, Portsmouth are also involved in a separate dispute with former owner Sacha Gaydamak over whether they have missed a deadline in paying a £9million chunk of the £28million they owe to him.
It is unlikely however that Gaydamak will take any action to push the club towards administration because that would not be in his best interests in terms of reclaiming his debt.
Portsmouth say they expect to pay the players' wages for January "in the next day or two".
Latest in Sport
Commonwealth Games 2014: Australia launch Glasgow swimwear - but are criticised for drawing attention to the 'crotch' area
Borussia Dortmund vs Arsenal: Jurgen Klopp concerned with Dortmund injuries and praises signings of Danny Welbeck and Alexis Sanchez
Alexis Sanchez: The many (animated) faces of Arsenal's Chilean forward
Hull City vs West Ham match report: Enner Valencia stars as honours shared at the KC Stadium
Cristiano Ronaldo to Manchester United: Ramon Calderon claims Real Madrid star is 'fed up'
- 1 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 2 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 3 Lego breaks out of the toy box and heads for the gallery
- 4 Julian Assange and Edward Snowden join piracy mogul Kim Dotcom’s political campaign in New Zealand
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
Salmond accused of laughing off national debt with ‘what are they going to do: invade?’ joke