Portsmouth’s funds have all but dried up, according to Chief Executive Peter Storrie.

The south coast side have lost every single Premier League match so far this season, but the club’s financial situation has become a more severe problem than their form on the pitch.

Storrie claims that Portsmouth did not have enough money to pay their players’ wages this month, although manager Paul Hart has claimed that the players will receive the money by today.

It was reported that in order to cover the wages, several Portsmouth board members were forced to secure an emergency loan.

The club was recently bought by Dubai based real estate mogul Sulaiman Al-Fahim, who promised to inject the club with $80 within the next month, but the financial problems at Fratton Park are nevertheless very much alive.

“All the money from all the player transfers and the Sky TV money, all of the £35 ($55) million from January, has gone straight to the Standard Bank,” said Storrie.

“There is no money left. Whatever we spend on a monthly basis comes channeled through from the new owner.”

“He has promised to re-finance, and he has shown me all the documentation, but I have no idea about the conditions of the £50 ($80) million he says will be arriving in a few weeks.”

A statement from the club read: “Portsmouth FC can confirm that the first-team squad and executive board was not paid yesterday (Wednesday). The club is currently being refinanced by the owner Sulaiman Al-Fahim following the recent completion of his takeover.”

“There was a delay in the transfer of funds but the lawyers have received confirmation that this will happen today which will enable the players to be paid within the next 24 to 48 hours. The players have all been informed of the situation.”

“The executive board will continue to help the new owner in his efforts to refinance which has come about as a direct consequence of the banks’ requirements to retain all television receipts and profits generated during the transfer windows.”

Defender Hermann Hreidarsson said he is not worried by the problems at the club.

“We didn’t get paid but someone came down from the payment department and reassured us we will get paid tomorrow (Friday), so everyone’s a winner.”

“If they were to say you’re not getting paid this month it would be a concern, but they didn’t. We were kept updated and want this to be the end of the matter for everyone concerned.”

Portsmouth has taken a complete u-turn following the departure of former manager Harry Redknapp, who guided the club to it’s highest finish since the 1950’s and an FA Cup victory in 2008.

In October 2008, Redknapp left Fratton Park to take the vacant Spurs job, and since then the club has faltered under Tony Adams, who was eventually sacked, and now Paul Hart.

Pompey have sold several key players over last summer’s transfer window, including internationals Nico Kranjcar, Glen Johnson, and Peter Crouch.

They currently sit at the bottom of the Premier League table with 0 points, 3 goals scored, and 13 goals against with 7 matches played.

Sources: BBC Times

Adebayor Receives Additional Ban and Fine

Manchester City striker Emmanuel Adebayor has been handed a $40,000 fine and a suspended two-match ban for his goal celebration against former club Arsenal at Eastlands.

The Togolese international sprinted the full length of the pitch to celebrate his goal in front of the traveling Arsenal supporters.

The celebration almost caused a riot, as many Arsenal fans tried to push their way down onto the pitch and throw objects at their former player. A steward was knocked unconscious by an object thrown from the stands.

Adebayor apologized immediately after the match, claiming that his “emotion took over”.

Adebayor had already received a three-match ban for a separate incident that day, when he was charged for violent conduct following a stamp on former teammate Robin van Persie’s face.

The City star was reportedly at Wembley today to admit a charge of improper conduct for his celebration during an FA regulatory commission hearing.

However, the two-match ban will only be triggered if there is a similar breach of FA rules before December 2010. So, Adebayor will be available to face Aston Villa this Monday after serving the three-match ban for the van Persie incident.

City manager Mark Hughes was delighted to have his striker back, saying, “There has been a lot said and written about Emmanuel’s goal celebration. We are just glad to put it all behind us now and I am relieved he will be able to play at Aston Villa on Monday night.”

“Manu was in great form before his suspension and having him available again is a huge boost to us.”

Source: BBC

Seena Vali is a U.S. based writer for World Soccer Reader, having joined the staff in April 2009. He covers the English Premier League and writes WSR’s Manchester United blog “United Watch”.

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