Post by QPR Report on Dec 3, 2009 7:49:47 GMT
Guardian/Jamie Jackson
Portsmouth's unpaid fees could block Avram Grant's spending plans• Sulaiman al-Fahim says transfer embargo might not be lifted
• Unpaid fees, salaries and taxes need to be settled
Portsmouth's ability to make signings next month has been cast into doubt because the club must clear a seven-figure sum in outstanding fees before the Premier League will lift the transfer embargo it imposed in mid-October.
The money is for instalments owed on several transfers, which include Glen Johnson's move from Chelsea and the signing of John Utaka from Rennes, each of which occurred in 2007.
Portsmouth's prospects of sourcing the finance to lift the embargo are muddied by other monies they have to pay over the coming month or so. These include at least £2.5m to the former owner Sacha Gaydamak; £1.8m for salaries; and outstanding tax and VAT bills, thought to amount to £5m and £6m respectively.
At the end of next month a considerable amount is also due for the next instalments of outstanding transfer fees, which the board will have to consider when drawing up any financial strategy.
Portsmouth's chief executive, Peter Storrie, said last week he was under the impression that "everything is sorted" for the embargo to be lifted in time for January. Following Saturday's 4-1 defeat by Manchester United, the new manager, Avram Grant, spoke of his need for reinforcements so the club can avoid relegation. "We are to have discussions in the next couple of days and I will know what we can do in January," he said. Grant is yet to have those discussions with Storrie, though it is understood they will meet by the close of the week.
Sulaiman al-Fahim, the non-executive chairman, last month publicly backed the owner Ali al-Faraj's ability to lift the embargo but has now altered his view. He contacted the Guardian last night to apologise to supporters for those comments, and demand the situation be "clarified".
He said: "I would like to apologise for saying publicly last month that I was confident the transfer embargo would be lifted. I said this in good faith. As the embargo is still in place, then it seems there is still an ongoing issue. Avram Grant needs this situation clarified one way or another as we are now less than a month away from the January transfer window."
Although Faraj has yet to visit the club he bought in October, Fahim challenged the Saudi to meet him to discuss Portsmouth's future.
"I have never met al-Faraj and I am ready to invite him to the UAE as my guest or I will go and meet him in Saudi Arabi, if he doesn't have time to come to the UK," he said. "As a chairman and shareholder I want to know who is he and what plans he has for the club."
Portsmouth declined to comment.
www.guardian.co.uk/football/2009/dec/02/portsmouth-transfer-embargo
Portsmouth's unpaid fees could block Avram Grant's spending plans• Sulaiman al-Fahim says transfer embargo might not be lifted
• Unpaid fees, salaries and taxes need to be settled
Portsmouth's ability to make signings next month has been cast into doubt because the club must clear a seven-figure sum in outstanding fees before the Premier League will lift the transfer embargo it imposed in mid-October.
The money is for instalments owed on several transfers, which include Glen Johnson's move from Chelsea and the signing of John Utaka from Rennes, each of which occurred in 2007.
Portsmouth's prospects of sourcing the finance to lift the embargo are muddied by other monies they have to pay over the coming month or so. These include at least £2.5m to the former owner Sacha Gaydamak; £1.8m for salaries; and outstanding tax and VAT bills, thought to amount to £5m and £6m respectively.
At the end of next month a considerable amount is also due for the next instalments of outstanding transfer fees, which the board will have to consider when drawing up any financial strategy.
Portsmouth's chief executive, Peter Storrie, said last week he was under the impression that "everything is sorted" for the embargo to be lifted in time for January. Following Saturday's 4-1 defeat by Manchester United, the new manager, Avram Grant, spoke of his need for reinforcements so the club can avoid relegation. "We are to have discussions in the next couple of days and I will know what we can do in January," he said. Grant is yet to have those discussions with Storrie, though it is understood they will meet by the close of the week.
Sulaiman al-Fahim, the non-executive chairman, last month publicly backed the owner Ali al-Faraj's ability to lift the embargo but has now altered his view. He contacted the Guardian last night to apologise to supporters for those comments, and demand the situation be "clarified".
He said: "I would like to apologise for saying publicly last month that I was confident the transfer embargo would be lifted. I said this in good faith. As the embargo is still in place, then it seems there is still an ongoing issue. Avram Grant needs this situation clarified one way or another as we are now less than a month away from the January transfer window."
Although Faraj has yet to visit the club he bought in October, Fahim challenged the Saudi to meet him to discuss Portsmouth's future.
"I have never met al-Faraj and I am ready to invite him to the UAE as my guest or I will go and meet him in Saudi Arabi, if he doesn't have time to come to the UK," he said. "As a chairman and shareholder I want to know who is he and what plans he has for the club."
Portsmouth declined to comment.
www.guardian.co.uk/football/2009/dec/02/portsmouth-transfer-embargo