Portsmouth's TV cash to pay off debts
Tuesday, January 5 2010, 14:19 GMT
By Andrew Laughlin,
The Premier League will divert Portsmouth FC's latest share of TV monies to settle the club's outstanding debts with other teams in the top division, it has emerged.
Tottenham, Watford and Chelsea will all receive a portion of the £7m cash influx from broadcasting rights agreements to pay outstanding player transfer debts with the troubled south coast club.
The approach is fully permitted within Premier League rules designed to protect clubs that are owed money from transfer deals.
Portsmouth's financial crisis has been deepening over the past six months, with various changes of ownership causing uncertainty at the club.
After non-playing staff were finally paid their December wages on Monday, playing staff will also receive payment today after the club's current owners secured a short-term bank loan.
Speaking to Press Association Sport, a Portsmouth spokesman said: "The staff have been paid but there are two separate payrolls and we are still expecting the players to be paid on Tuesday."
However, Portsmouth are still waiting to see if a registration embargo banning them from signing any new players will block efforts to renew Tottenham player Jamie O'Hara's loan deal at the club.
Discussing the club's ongoing financial troubles, PFA chief executive Gordon Taylor told BBC Sport: "We have become used to any number of financial problems at various clubs but you do not expect it at the top level.
"It is certainly not good for the image of the game or the Premier League, and it's a timely warning that football needs to keep a sense of financial propriety."