Premier League - Portsmouth report to High Court

Eurosport - Wed, 17 Feb 10:21:00 2010

Portsmouth have delivered a complete statement of their finances to the High Court as they bid to stave off a winding-up order.

Portsmouth financial trouble - 0

The club faced a deadline of 4pm on Wednesday afternoon to submit details of their massive debts to both the court and HM Revenue and Customs.

Specialist insolvency firm Vantis had been appointed by the High Court to establish the club's true financial status in the report, which details Pompey's precarious financial situation and estimated £60 million debts - including £7.4m owed in unpaid VAT to HMRC and a further £4.7m in unpaid PAYE tax and National Insurance.

HMRC will issue a response to the document on Friday, with Portsmouth returning to court on March 1 for the winding-up hearing.

Portsmouth's financial situation has led to their players being paid late four times this season. In addition to the HMRC debts, the club is also being sued by former Pompey defender Sol Campbell over £1.7m in unpaid image rights.

They are also in dispute with former owner Sacha Gaydamak over a missed £9m installment of the £28m owed to him.

Earlier in the day the club was involved in further controversy after an arrest warrant was reportedly issued in Dubai for Portsmouth chairman Sulaiman Al Fahim over an unpaid debt.

The warrant relates to an alleged £1.4 million dispute following a property deal with an investor from Azerbaijan.

Al Fahim, one of four owners of Portsmouth this season, completed a buy-out of the club in August last year, but sold to Saudi business tycoon Ali Al Faraj six weeks later - although he remains at Fratton Park in a non-executive position.

The 32-year-old - whose company, Fahim Asia Associates Limited, still has a 10 per cent share in the crisis-stricken Premier League strugglers - claims he is not liable for the debt.

"My lawyers are currently handling the matter and I am positive it will be resolved very soon," he was quoted as telling a United Arab Emirates newspaper.

"It is rubbish - I am not involved, I am the victim here. I have done absolutely nothing wrong and that will be shown in a very short time."

Eurosport

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  1. Well said R'n'R, sky says desperate to raise­ money to avoid being wound up nothing about parachute­ payment and lets face it they aint getting it because­ if they fall down and out then FA can't get their­ money back.
    If they want to raise some cash I will buy­ a piece of pitch for my mates dog to sh1t on

    From David, on Fri 19 Feb 7:47
  2. SELL UP poopey, poopey SELL UP

    From David, on Fri 19 Feb 5:36
  3. Thanks for the history lesson but we are talking about­ now not last year or when god was a boy, plus when it­ comes to fraud we only have to look at your­ "owners", going back to history that is what­ you lot will be soon and I for one wont miss you and­ that tw4t with the bell

    From David, on Fri 19 Feb 4:05
  4. Thats still more than you get, however it is not the­ size of the stadium that is the point here, the point­ is you dont sell out or even near to sell out even when­ a big teams comes to town (not for much longer) so the­ fact that we have a far superior ground to you is­ irrellivant, you do the math's Muppett and accept­ that we have more fans than you even in the 3rd level,­ but if you have the same amount that would be more­ loyal fans.

    From David, on Fri 19 Feb 3:19
  5. Well well, it looks like the sad Scummer twats have­ licked there wounds and started to come out from under­ their little stones that house their little minds. And­ as for 99 the only reason that you outsell Pompey with­ regard to gate receipts is because you have a bigger­ ground you muppet!!! Now get back under your stone and­ learn basic arithmatic. Get over it you got hammered in­ your own shitty ground, with 33% of your fans leaving­ after goal 3 went in !!! Div 1 side is where your­ football is at.

    From terryrussell40, on Fri 19 Feb 2:11
  6. #96 nick wood. At least our fans turn up, even in­ division 1 we still out sell you lot, p.s WHEN they­ close your sh1thole they should re-open it as an­ ice-ring then the skates can go skate-ing.
    BYE BYE­ poopey, poopey BYE BYE. Oh thats bye not buy

    From David, on Fri 19 Feb 1:56
  7. My oh my, what a sad lot southampton fans are, did you­ really think you were going to take your place back as­ hampshires top team.
    Yes you had a few chances which­ you weren`t good enough to take,but when the going got­ tough you all got out through the exit doors.
    we could­ see you sneaking out, not something you see at fratton­ park, when the going gets tough pompey fans get going,­ behind there team.
    Even if we do get relegated, we­ won`t be playing in your second class city, you won`t­ be going up.
    Do what you do best, scabbing when­ somebody is on strike.
    NICK WOOD.

    From nicholas_wood57, on Thu 18 Feb 22:30
  8. ive heard enough! pompey get out of the premier league­ everyone is sick of hearing financial problems. they­ are giving the prem a bad reputation!

    From matteos.maserati, on Thu 18 Feb 22:04
  9. Well i am sorry to see any club go under,but as its­ POMPY i think its great so close the club and make a­ car park there or open anothe unemployment office as­ the pompy people no how ot fiddle there way to get­ money,,, ha ha ha ...

    From Mae S, on Thu 18 Feb 21:34
  10. JIMBO, YOU DIRTY SKATE WE DONT CARE WOT U CALL US WE­ STILL KICKED YOUR @#$% 4-1, AND THEN BEAT YOUR FANS UP­ AFTER HAHAHA LOOOOOOOSER

    From John, on Thu 18 Feb 21:27
  11. What a sad bunch of idiots you pompey skates are cant­ wait to march the 1st at least then your ground could­ be turned into a ymca for all you inbred skates.

    From JIMBO, on Thu 18 Feb 14:38
  12. Re sophie #78, if it wasn't for the word­ "lower" you would have no class at all, but­ then you are a skate so why sould I expect anything­ else from poopey, YOU "CAN'T" PAY UP­ POOPEY, POOPEY PAY UP

    From David, on Thu 18 Feb 14:37
  13. pay up pompey, pay up pompey!., go jump back in the sea­ where you belong you bottom feeding skates!

    From karlcummings, on Thu 18 Feb 12:09
  14. I have no affiliation whatsoever with Portsmouth but­ the club has now become the synonym of fighting to­ survive and no one with an ounce of life in their heart­ would want the club to fold, not even those teams who­ would benefit with a couple of points from that. It­ will be a disaster that a team like Pompey is simply­ erased due to incompetence of the fat men in the­ suites. So I really hope Portsmouth gets the chance to­ continue its fight on the field and if they get that­ chance I'd put my money on them succeeding to stay­ up in the premiership.

    From Half A Brain, on Thu 18 Feb 11:38
  15. yes brian :))

    From Blue Army, on Thu 18 Feb 11:09
  16. blue army ,one game away from wembley two from europe­ and nine points from soke hull and burley out the­ drop zone and on to lift the cup . what a turn around­ ,blue army

    From LOUISE, on Thu 18 Feb 11:09
  17. Im Sure 99.9% of true footy fans want pompey to­ survive, apart from the sad inbred retards in­ scumhampton, play up pompey....

    From Brian, on Thu 18 Feb 11:04
  18. ergh JUDE ^^%&* OFF YA SCUMMA

    From Blue Army, on Thu 18 Feb 10:49
  19. It's not Pompey that should payup it's that­ b..... Redknapp who caused it all. Let him pay.

    From ANNE T, on Thu 18 Feb 10:37
  20. Nice to see the usual inbreds on the site, hello Jude­ you old scum slapper, still fiddling the horses at home­ in the New Forest?

    From Robert, on Thu 18 Feb 10:35
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