Delima Posted October 1, 2009 Share Posted October 1, 2009 http://www.guardian.co.uk/football/2009/oct/01/portsmouth-wages-peter-storrie-no-money Portsmouth chief executive Peter Storrie says 'there is no money left' • Storrie says money raised has gone straight to Standard Bank • Chief executive says club desperately need to refinance Peter Storrie, Portsmouth Peter Storrie admitted he has 'no idea' about conditions of the £50m Sulaiman al-Fahim is putting into the club. Portsmouth's chief executive, Peter Storrie, has painted a bleak picture in the wake of news that the club's players have not been paid this week, saying "there is no money left", and insisting the club needed to refinance immediately. "All the money from all the player transfers and the Sky TV money, all of the £35m from January, has gone straight to the Standard Bank," Storrie told ESPN Soccernet. "There is no money left. "Whatever we spend on a monthly basis comes channelled through from [Al-Fahim]. He has promised to refinance, and he has shown me all the documentation, but I have no idea about the conditions of the £50m he says will be arriving in a few weeks. "We need to refinance, it is as simple as that. As for the players wages for the last month I would imagine it's a blip and they will be paid, but I have spent the last nine to 10 months fighting fires on a daily basis, I'm not giving up." Portsmouth admit first-team squad have not been paid Have your say on Pompey's financial meltdown Sulaiman al-Fahim promises club £50m cash injection A statement published by Portsmouth earlier today blamed the non-payment of players on a "delay in the transfer of funds". "The club is currently being refinanced by the owner Sulaiman al-Fahim following the recent completion of his takeover," read the statement. "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." Storrie, meanwhile, claimed it was only the club's fans who persuaded him to stay after he considered leaving the club last month. "Yes I thought about going, but that reception from the fans, how could I go after that," he said. "Yes, we have been very close to administration a few times in the last nine to 10 months, but I am not about to give up now. "I've no idea of the timescale about how long this can go on. I don't want to frighten people. I am sure that if the refinancing that has been promised fails for some reason there will be other people ready to step in. "There is only so much we can do, by that I mean, the present staff, we are all wholly reliant on the refinancing. Our jobs are to keep everything going until then, and of course I remain hopeful that this club will survive." According to minutes from a meeting on Friday between Al-Fahim and the Pompey Virtual Alliance (PVA) - a group of fans' websites - the club's new owner is willing to work with other investors in Portsmouth. That news was greeted positively by fans, who have seen Paul Hart's men lose their first seven Premier League matches of the season. Hart, responding to the non-payment of wages, said: "It's a hiccup and a cash-flow problem. We explained to the players in a meeting we will receive the rest by tomorrow - and the players are happy with that. They will get on with their jobs. "You put one fire out and another starts up in the corner. That's how it has been in my tenure as manager. But you can spit your dummy out and throw your toys out of the pram, or take it as another fire, put it out and get going again. "It has been a particularly interesting day from about 8.30 this morning - nothing I can tell you about. But you have choices. You either stick together and get through it or stamp your feet." Link to post Share on other sites More sharing options...
Delima Posted October 1, 2009 Share Posted October 1, 2009 I wonder how much did Harry Redknappe contribute to this Portsmouth crisis ? He spent loads to sign players. Yet Porstmouth did get some significant money selling Redknappe's players. Maybe the players wage crippled Portsmouth ? Link to post Share on other sites More sharing options...
SEMTEX Posted October 1, 2009 Share Posted October 1, 2009 Shouldn't have given him the money if it couldn't be sustained. Link to post Share on other sites More sharing options...
NG32 Posted October 1, 2009 Share Posted October 1, 2009 Never had the fan base to support such reckless spending. Link to post Share on other sites More sharing options...
Dave Posted October 1, 2009 Share Posted October 1, 2009 Redknappe? Link to post Share on other sites More sharing options...
cp40 Posted October 1, 2009 Share Posted October 1, 2009 Redknappe? Link to post Share on other sites More sharing options...
afar Posted October 1, 2009 Share Posted October 1, 2009 if only they had gone into administration earlier, we would still be in the PL. Link to post Share on other sites More sharing options...
NG32 Posted October 1, 2009 Share Posted October 1, 2009 if only they had gone into administration earlier, we would still be in the PL. FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU Link to post Share on other sites More sharing options...
Mike Posted October 1, 2009 Share Posted October 1, 2009 if only they had gone into administration earlier, we would still be in the PL. And getting relegated this year. Link to post Share on other sites More sharing options...
OzzieMandias Posted October 1, 2009 Share Posted October 1, 2009 Another club that had "ambition" – and owners that fucked off before the bills came rolling in. Link to post Share on other sites More sharing options...
Teasy Posted October 2, 2009 Share Posted October 2, 2009 Martin Samuel wrote a really good article about this clown http://www.dailymail.co.uk/sport/football/article-1216994/MARTIN-SAMUEL-Dubais-Del-Boy-Sulaiman-Al-Fahim-quick-fix-Portsmouth.html Can't stand the fat bastard, but he makes some good points, especially about the £millions You either have it, or you haven’t. Fifty quid, well that’s different; 500 quid, even. Hell, if you need 50 grand there are people you can talk to who will rush the paperwork through to meet a deadline, but the only investors looking to advance £50m are those that think they are going to make double back. His entire article is based on the assumption that this bloke has bought Portsmouth as something to waste his money on, like Abramovich and the Man City lot, which is a hell of an assumption to make. Has this Fahim bloke ever even claimed that's why he's bought the club? Link to post Share on other sites More sharing options...
Mowen Posted October 2, 2009 Share Posted October 2, 2009 I wonder how much did Harry Redknappe contribute to this Portsmouth crisis ? He spent loads to sign players. Yet Porstmouth did get some significant money selling Redknappe's players. Maybe the players wage crippled Portsmouth ? Is what happened. Campbell was on £100k, Distin and James about £70k, Diarra wanted HUGE wages to leave Chelsea and both Crouch and Defoe were in excess of £50k. It was unsustainable. Obviously I don't have a source for these figures and they could well be embellished, but they were 'known' in the way that we roughly 'know' what the majority of our players are and were earning. Link to post Share on other sites More sharing options...
nobby_solano Posted October 2, 2009 Share Posted October 2, 2009 and 'bargain hunter' 'arry jumped ship first chance he got, after having sailed it straight into the path of the iceberg. - liking the nautical references to portsmouth? Link to post Share on other sites More sharing options...
Guest gggg Posted October 2, 2009 Share Posted October 2, 2009 http://www.arabianbusiness.com/569145-exclusive-uae-tycoon-in-hospital-amid-pompey-wages-crisis Convenient that, a fit and healty man admitted to hospital when it's found out he's skint and full of hot air. Straight from his partner in bullshit Anil Bhoyrul. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted October 2, 2009 Share Posted October 2, 2009 The trail of destruction from 'Arry continues. Bournmouth, Southampton, West Ham, Pompey all former clubs who have been financially crippled and also managed by this boss eyed, saggy faced twat Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted October 2, 2009 Share Posted October 2, 2009 The trail of destruction from 'Arry continues. Bournmouth, Southampton, West Ham, Pompey all former clubs who have been financially crippled and also managed by this boss eyed, saggy faced twat Spurs next Link to post Share on other sites More sharing options...
jdckelly Posted October 2, 2009 Share Posted October 2, 2009 How does anyone allow the kind of wages campbell et all were on when pompey can at most get 20000 odd at each game? Link to post Share on other sites More sharing options...
Guest Roger Kint Posted October 2, 2009 Share Posted October 2, 2009 How does anyone allow the kind of wages campbell et all were on when pompey can at most get 20000 odd at each game? The previous owner was a nutter imo. OTT spending on transfers and wages as well as the failed attempt to build a stadium which the Navy blocked iirc. Link to post Share on other sites More sharing options...
SEMTEX Posted October 2, 2009 Share Posted October 2, 2009 http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8286657.stm Sulaiman Al Fahim est dans l'hopital Link to post Share on other sites More sharing options...
Thespence Posted October 2, 2009 Share Posted October 2, 2009 Martin Samuel wrote a really good article about this clown http://www.dailymail.co.uk/sport/football/article-1216994/MARTIN-SAMUEL-Dubais-Del-Boy-Sulaiman-Al-Fahim-quick-fix-Portsmouth.html Can't stand the fat b******, but he makes some good points, especially about the £millions You either have it, or you haven’t. Fifty quid, well that’s different; 500 quid, even. Hell, if you need 50 grand there are people you can talk to who will rush the paperwork through to meet a deadline, but the only investors looking to advance £50m are those that think they are going to make double back. His entire article is based on the assumption that this bloke has bought Portsmouth as something to waste his money on, like Abramovich and the Man City lot, which is a hell of an assumption to make. Has this Fahim bloke ever even claimed that's why he's bought the club? Apart from banging on spending £50 million Link to post Share on other sites More sharing options...
ikri Posted October 2, 2009 Share Posted October 2, 2009 Martin Samuel wrote a really good article about this clown http://www.dailymail.co.uk/sport/football/article-1216994/MARTIN-SAMUEL-Dubais-Del-Boy-Sulaiman-Al-Fahim-quick-fix-Portsmouth.html Can't stand the fat bastard, but he makes some good points, especially about the £millions You either have it, or you haven’t. Fifty quid, well that’s different; 500 quid, even. Hell, if you need 50 grand there are people you can talk to who will rush the paperwork through to meet a deadline, but the only investors looking to advance £50m are those that think they are going to make double back. His entire article is based on the assumption that this bloke has bought Portsmouth as something to waste his money on, like Abramovich and the Man City lot, which is a hell of an assumption to make. Has this Fahim bloke ever even claimed that's why he's bought the club? He was originally claimed to be the head of a consortium who were going to buy the club and who would have the funds available to throw money at it like Man City. When the FA said that they'd need to do a full fit-and-proper person test on each of the consortium the other members (if they ever actually existed) mysteriously vanished leaving only Al Fahim. Al Fahim isn't exactly a pauper, but he hasn't got billions. He did a complete due diligence on Portsmouth's books too, so it isn't like he wasn't aware of their debt levels. Coupled with his own lack of liquid funds it's a wonder that he bought the club at all, I'd guess that he believed he could sell the club on quickly or find another investor quickly to help fund the club. Link to post Share on other sites More sharing options...
Delima Posted October 2, 2009 Share Posted October 2, 2009 Based on this http://www.independent.co.uk/sport/football/premier-league/premier-league-ready-to-take-control-as-penniless-pompey-crash-1796230.html Sulley Muntari, in £7m, out £12.7m ...... Net + £5.7m David Nugent, in £6m Glen Johnson, in £4m, out £18m ...... Net + £14m John Utaka, in £7m Papa Bouba Diop, in undisclosed Sylvain Distin, in Free, out £5m .... Net + £5m Herman Hreidarsson, in Free Lassana Diarra, in £5.5m, out £20m .... Net + £14.5m Jermain Defoe, in £9m, out £15m .... Net + £6m Peter Crouch, in £11m, out £9m ...... Net - £2m Younes Kaboul, in £6m NET : +24.2 M How the fuck could Portsmouth be in their deep shite now ? Granted all these players all have to be paid wages, the net gain in transfer money should easily finance this. WHere do all the money goes ? Stadium ? Link to post Share on other sites More sharing options...
TêteDeMaure Posted October 2, 2009 Share Posted October 2, 2009 You're not familiar with Fratton Park then. Link to post Share on other sites More sharing options...
Guest neesy111 Posted October 2, 2009 Share Posted October 2, 2009 Based on this http://www.independent.co.uk/sport/football/premier-league/premier-league-ready-to-take-control-as-penniless-pompey-crash-1796230.html Sulley Muntari, in £7m, out £12.7m ...... Net + £5.7m David Nugent, in £6m Glen Johnson, in £4m, out £18m ...... Net + £14m John Utaka, in £7m Papa Bouba Diop, in undisclosed Sylvain Distin, in Free, out £5m .... Net + £5m Herman Hreidarsson, in Free Lassana Diarra, in £5.5m, out £20m .... Net + £14.5m Jermain Defoe, in £9m, out £15m .... Net + £6m Peter Crouch, in £11m, out £9m ...... Net - £2m Younes Kaboul, in £6m NET : +24.2 M How the fuck could Portsmouth be in their deep shite now ? Granted all these players all have to be paid wages, the net gain in transfer money should easily finance this. WHere do all the money goes ? Stadium ? wages, muntari, krankjar (don't know how to spell), and campbell we're all on above 80k a week, their wage bill was much worse than ours Link to post Share on other sites More sharing options...
Guest Geordiekev Posted October 2, 2009 Share Posted October 2, 2009 Based on this http://www.independent.co.uk/sport/football/premier-league/premier-league-ready-to-take-control-as-penniless-pompey-crash-1796230.html Sulley Muntari, in £7m, out £12.7m ...... Net + £5.7m David Nugent, in £6m Glen Johnson, in £4m, out £18m ...... Net + £14m John Utaka, in £7m Papa Bouba Diop, in undisclosed Sylvain Distin, in Free, out £5m .... Net + £5m Herman Hreidarsson, in Free Lassana Diarra, in £5.5m, out £20m .... Net + £14.5m Jermain Defoe, in £9m, out £15m .... Net + £6m Peter Crouch, in £11m, out £9m ...... Net - £2m Younes Kaboul, in £6m NET : +24.2 M How the f*** could Portsmouth be in their deep s**** now ? Granted all these players all have to be paid wages, the net gain in transfer money should easily finance this. WHere do all the money goes ? Stadium ? It has been mentioned in many statements that all the revenue from TV, Player sales went straight back to the bank. Link to post Share on other sites More sharing options...
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