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Apr 21, 2010

Debt-ridden Pompey owe the milkman and a florist

The financial mess Portsmouth are in has been laid bare by their report to creditors which shows they owe £119 million - including outstanding debts to the milkman and a florist.

• Pompey to probe bizarre Begovic fee
• Portsmouth reveal £119m debt

The 70-page document also reveals that a wealth management firm are owed the princely sum of £1, while a medical firm specialising in cancer treatment are also due the same amount.

Soccernet revealed on Tuesday that Portsmouth's actual level of debt was far worse that had been initially thought with millions owed to numerous creditors, secured and unsecured, with agents and former players due huge sums.

The club have already been relegated to the Championship after they were docked nine points for going into administration, and must now try to reach an agreement with 75% of their creditors to avoid another points penalty next season.

Their administrator, Andrew Andronikou, gave Soccernet a preview of the report that revealed there is an outstanding £14 million due on three transfers - those of Sulley Muntari, Glen Johnson and Jermain Defoe - to a series of money lenders.

Of the £105 million debt, £9 million is owed to 15 agents. In one deal alone, an agent is owed £2.3 million.

Here is a selection of those owed money by the club, including milk deliveries and flowers:

£38.2 million - Total owed to previous owners including Alexandre Gaydamak and Sulaiman al Fahim.

£17.1 million - VAT, PAYE and National Insurance.

£14 million - Secured loan to former owner Balram Chainrai.

£3.5 million - Outstanding transfer fees owed to Tottenham for Kevin-Prince Boateng and loan signing of Jamie O'Hara.

£3.3 million - Outstanding transfer fee owed to Udinese for Sulley Muntari.

£3.04 million - Unpaid image rights to players including Sol Campbell and Lassana Diarra.

£2.8 million - Outstanding transfer fee owed to Rennes for John Utaka.

£2.07 million - Payment due to super-agent Pini Zahavi.

£1.02 million - Outstanding transfer fee owed to Chelsea for Glen Johnson.

£282,000 - Unpaid bonus due to Peter Crouch.

£917.81 - Hampshire Flag Company.

£810 - Framing Art Mirrors.

£313.31 - Dairy Crest.

£87.50 - Co-operative florist.

• To read the full report, click here.

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