Portsmouth given deadline for £7m TV money

portsmouth debt fratton parkPortsmouth have until 5pm today to repay football creditors

portsmouth debt fratton park

The Premier League have given Portsmouth until 5pm today to repay football creditors or face not receiving their latest TV money payment.

Should the south coast club miss the deadline, the money -estimated to be around £7 million -will be distributed amongst the clubs that Portsmouth owe money to.

Under Premier League rules, the redirecting of television revenue is allowed in order to protect clubs that are still owed money from player transfers.

Debt-ridden Portsmouth are reported to owe in excess of £60m and face a winding up petition from HM Revenue and Customs.

Despite their precarious financial situation, Portsmouth have been quick to reassure fans that there will be no quick-fire sale of players in the January transfer window to generate funds.

“I can assure fans that won’t happen,” Portsmouth executive director Mark Jacob told the BBC.

“But, quite clearly every player has their price and if manager Avram Grant feels there are players surplus to requirements then we will support him.

Kieran Trippier speaks at England media conference (Photo: Sky Sports / Screen grab)
'He has his heart set on a move': Reporter claims Kieran Trippier wants Man United switch
Mikel Arteta
Arsenal told to pay £23m for England and Sheffield United goalkeeper Aaron Ramsdale - report
Thomas Tuchel
Chelsea FC consider swoop for Stuttgart striker Sasa Kalajdzic - report
Jurgen Klopp
Journalist: Liverpool FC have been scouting Donyell Malen for many months
Romelu Lukaku
Steve Nicol warns Chelsea FC about move to sign Inter Milan striker Romelu Lukaku
Kieran Trippier speaks at England media conference (Photo: Sky Sports / Screen grab)
'He has his heart set on a move': Reporter claims Kieran Trippier wants Man United switch
Mikel Arteta
Arsenal told to pay £23m for England and Sheffield United goalkeeper Aaron Ramsdale - report
Thomas Tuchel
Chelsea FC consider swoop for Stuttgart striker Sasa Kalajdzic - report
Jurgen Klopp
Journalist: Liverpool FC have been scouting Donyell Malen for many months
Romelu Lukaku
Steve Nicol warns Chelsea FC about move to sign Inter Milan striker Romelu Lukaku
Top 50 Muslim footballers: Arsenal, Chelsea FC, Liverpool FC and Man United stars feature
Top 50 Muslim footballers: Arsenal, Chelsea FC, Liverpool FC and Man United stars feature