Welcome to the Pompey Encyclopedia
From Pompedia
This site is run by a group of Pompey fans. We are concerned about the management of the club and the secrecy surrounding it. We started this site to cross reference news reports and club statements. Join us and register today.
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If you are not sure where to start, try these
- History of Pompey
- Timeline: Financial
- Timeline: Transfers
Contributing
Once you are logged in click on the button at the top right of any article and then make your changes. You can also create new articles if you wish. Please try and include links to verifiable sources. A David Conn piece in The Guardian that quotes company accounts is more trustworthy than an opinion piece in The News.
ToDo list
- Category:Banks
- Category:Rumored Investors
- Category:Legal Advisors
- Category:Media Outlets
- Category:Current Employees
- Category:Former Employees
Misc
- Blue Star Garages Ltd
- Herzog & de Meuron
- Falcon Equity
- Abu Dhabi United Group
- Ameris Holdings
- Taylor Wessig
- Stock Fraser Cukier
- Sellar Property Group
- Monarch Fiduciary
- Ameris Holdings
- Belvia S.a.r.l.
- Antanta-Capital Group
- Hydra Properties
- Sulaiman Al-Fahim Group
- Port Pin
- Miland Development 2004
- Miland Development
- Falcondrone
- Al-Fahim Asia Associates
- Devondale Investments
Rumored Advisors
Timeline
- December 2004
- December 2006
- February 2006
- January 2006
- July 2006
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- January 2010
- Financial Timeline
- Former Players
Previous Owners
- Private Investors
- Agents
- Other clubs
- HMRC
Parse this
Portsmouth FC owe money to the following agents.
Jacques Perais
The French agent Jacques Perais is <a href="http://footballobserver.blogspot.com/2009/12/football-observer-sunday-football-gangs.html" target="_blank">owed at least £2m</a> for his work on the £20m sale of Lassana Diarra to Real Madrid last January. Portsmouth, having already defaulted on the original contract, missed the first two instalments of a revised payment schedule, the latest on December 20, and under a deal signed by Peter Storrie and fellow director Tanya Robins on October 22, Jacques Perais can now claim the full sum of 2.25m euros.
Pini Zahavi
Jonathan Barnett
The current situation
The Premier League are <a href="http://www.guardian.co.uk/football/2010/jan/20/portsmouth-player-registration-embargo" target="_self">refusing</a> to lift the player registration embargo until it is provided with legal documents confirming the club's claim that payments for Sulley Muntari's move from Udinese in 2007 have been rescheduled.
Sources at Fratton Park claimed on January 23rd that the Premier League have been supplied with documents confirming the agreement with Udinese, which will involve <a href="http://www.guardian.co.uk/football/2010/jan/23/portsmouth-transfer-embargo-premier-league" target="_blank">regular payments of around €525,000</a>.
What has happened so far
At the start of 2010 the club were estimated to <a href="http://www.guardian.co.uk/football/2010/jan/05/daniel-azougy-portsmouth-debts" target="_blank">owe around £10m to other clubs in unpaid fees</a>. It is understood that these clubs were:
- Tottenham Hotspur for the purchase of Youness Kaboul.
- Chelsea for the purchase of Glen Johnson.
- Bayer Leverkusen for the loan of Theofanis Gekas.
- RC Lens for the purchases of Nadir Belhadj and Aruna Dindane.
- Stade Rennais for the purchase of John Utaka.
- Udinese for the purchase of Sulley Muntari.
The <a href="http://www.dailymail.co.uk/sport/football/article-1243860/Weve-broken-rules-TV-money-say-cash-strapped-Portsmouth.html#ixzz0cz5GjnBc" target="_blank">Premier League intervened</a> and decided to divert £5m of the £7.5m (or £7m reports vary) of television revenue directly to the some of these clubs. £2.4m was given to English sides and £2.6m went abroad, to whom we don't know.
Portsmouth claim that once these debts had been fulfilled there would still be a surplus of approximately £2m which they are owed. The Premier League are withholding this amount. On 14th January Portsmouth threatened to take the Premier League to arbitration if the embargo was not lifted. The club enlisted Maurice Watkins, the high powered lawyer who represents Manchester United, to help them <a href="http://soccernet.espn.go.com/news/story?id=726747&sec=england&cc=5901" target="_blank">argue their case</a>. Interesting, although the Premier League say that they took the decision to pay these clubs directly, Peter Storrie <a href="http://www.skysports.com/story/0,19528,11674_5863170,00.html" target="_blank">contradicts</a> this:
"We instructed the Premier League two weeks ago that when the money comes in to pay certain payments to clubs in the UK and also to foreign clubs, that was our instruction to do it, not the other way around. It leaves a balance which we are disappointed that they haven't actually remitted that balance over to us at the moment. I can confirm we have issued a legal letter to the Premier League to demand that the transfer embargo should be lifted. We believe we've a very good case against them. They have absolutely no right to withhold TV money in advance of future payments or payments to foreign clubs."
On the same day ESPN reported that the letter was "strongly worded" and carried no no threat of legal action, with Mark Jacob <a href="http://soccernet.espn.go.com/news/story?id=726747&sec=england&cc=5901">commenting</a>:
"We are providing the Premier League with a detailed response to our present position regarding our liabilities. Every club has future liabilities, but our future liabilities are holding us back because the transfer embargo has not yet been lifted, and we urgently need to lift the embargo before the January window expires."
At the time Portsmouth insisted they had <a href="http://www.dailymail.co.uk/sport/football/article-1243860/Weve-broken-rules-TV-money-say-cash-strapped-Portsmouth.html#ixzz0cz5GjnBc" target="_blank">reached an agreement deferring payment</a> with Bayer Leverkusen, RC Lens, Stade Rennais, and Stade Rennais. The club claim they have a genuine dispute with Udinese over the repayment of £3.6m still owed for the transfer of Sulley Muntari in 2007.
may 2007
Results
Financial
The accounts for Miland Development show that the club had bank loans of more than £18.5m and almost £24m of “other loans” presumed to be from Sacha. The bulk of the £24m in “other loans” is unsecured, interest-free and repayable in more than a year. One unsecured £2.7m loan to the club, due at an unspecified future date, accrues interest at a modest 15%.
Bank loans at the club increased by £11m during the year to £18.6m, while “other loans” went up by a mere £1m to £13m. The club repaid £7.5m during the year, largely by increasing its borrowings by £19m. The club renegotiated its banking facility with the the Icelandic-owned Singer and Friedlander Bank and the South African Standard Bank. This followed a 2007 loss of £23.5m by the club. The accounts were prepared by auditors Grant Thornton who replaced Menzies.
Transfers
Other
july 2007
Results
....
Financial
The club agreed to borrow £24m from Standard Bank secured on bank deposits and income from the Premier League. It is reported by Architechts Journal that <a href="http://www.architectsjournal.co.uk/news/portsmouth-fc-stadium-hit-with-40-planning-hurdles/107839.article" target="_blank">Herzog and de Meuron will have to overcome a staggering 40 hurdles to be in with a chance of realising the £600 million scheme</a>.
The club entered into an <a href="http://www.guardian.co.uk/media/2007/jul/23/citynews.football" target="_blank">agreement with The Local Radio Company</a> to form a joint venture to run The Quay in Portsmouth, Spirit FM in Chichester and Isle of Wight Radio. <a href="http://www.accessmylibrary.com/article-1G1-166845861/week-media-news-pompey.html" target="_blank">The initial investment is for 26%</a>, <a href="http://www.accessmylibrary.com/article-1G1-166845861/week-media-news-pompey.html" target="_blank">and may increase to be worth up to 1.95 million</a>.
<a href="http://www.sportbusiness.com/news/162194/portsmouth-fc-teams-up-with-img-media" target="_blank">IMG Media are appointed exclusive worldwide production and distribution partner for all Pompey media content and rights</a>. The three-year deal includes developing and producing a weekly three-hour programme of action, news and features on the Club, to be distributed globally from the beginning of the new Premier League season. IMG Media will also distribute all future match broadcast rights outside of the Premier League including pre-season games, charity matches and European competitions, as well as mobile and broadband rights.
Transfers
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Other
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August 2007
Results
....
Financial
A partnership with viagogo is announced. <a href="http://www.prweb.com/releases/2007/08/prweb547276.htm" target="_blank">The deal makes viagogo Portsmouth FC's official secondary ticketing partner</a> and the new service enables ticket holders to legally re-sell their tickets to fellow Pompey fans for fixtures at Fratton Park.
Transfers
...
Other
...
October 2007
Results
Pompey agree a <a href="http://www.sportbusiness.com/news/161028/portsmouth-and-oki-agree-shirt-sponsorship" target="_blank">new deal with OKI for shirt sponsorship</a>. The new agreement replaced the existing contract which began at the start of the 2005/06 season.
The club are forced to relocate its Herzog & de Meuron designed stadium after <a href="http://www.architectsjournal.co.uk/news/herzog-and-de-meurons-portsmouth-stadium-moves/207133.article" target="_blank">concerns are raised by the Royal Navy</a> who planned to base two new super aircraft carriers near to stadium. The £600 million stadium is now to be built at Hornsea Island.
Financial
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Transfers
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Other
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November 2007
Results
Financial
Harry Redknapp, Peter Storrie, Milan Mandaric, Amdy Faye and Willie McKay are arrested by City of London Police on <a href="http://www.independent.ie/world-news/europe/redknapp-among-five-arrested-in-soccer-inquiry-1232493.html" target="_blank">suspicion of conspiracy to defraud and false accounting</a>.
South African gold-mining business Central Rand Gold are <a href="http://www.sportbusiness.com/britsport/168282/news-roundup" target="_blank">rumoured </a>to have approached Sacha Gaydamak with a view to buy the club for £70 million.
Transfers
Other
July 2006
Results
...
Financial
Sacha Gaydamak formally <a href="http://www.alacrastore.com/storecontent/Thomson_M&A/Alexandre_Gaydamak_acquires_Portsmouth_Football_Club_Ltd_from_Blue_Star_Garages_Ltd-876697040" target="_blank">acquires</a> Portsmouth Football Club Ltd from Blue Star Garages.
Transfers
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Other
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January 2006
Results
....
Financial
It is reported that Sacha Gaydamak will buy the club for <a href="http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article784489.ece" target="_blank">£15 million</a>, with an option to purchase the remaining 50 per cent for a similar amount at a later date.
Accounts from Mr Gaydamak's Moscow-broking firm Antanta-Capital Group show it had total assets of just $20.8m in 2004, while net profits fell by 50pc to $647,000. <a href="http://www.telegraph.co.uk/finance/2929410/Telegraph-OnTheGo.html" target="_blank">Concerns are raised</a> that he has the funds to take the club forward.
Transfers
Other
Feb 2006
Results
...
Financial
According to records at Companies House <a href="http://www.telegraph.co.uk/finance/2932401/Gaydamak-under-the-floodlights.html" target="_blank">Sacha Gaydamak now sits on the board of three Milan Mandaric companies</a>, Portsmouth City Football Club, Miland Development and Miland Development 2004.
Sacha Gaydamak lists the name of his London law firm Stock Fraser Cukier as his address. A spokesman for the lawyer declined to say whether Mr Gaydamak had repaid <a href="http://www.telegraph.co.uk/finance/2932401/Gaydamak-under-the-floodlights.html" target="_blank">£259,000 which his former company Monarch Fiduciary owed to HM Customs & Excise when it went into liquidation</a>.
The final accounts filed by Monarch Fiduciary for the year ended December 1998 show <a href="http://www.telegraph.co.uk/finance/2932401/Gaydamak-under-the-floodlights.html" target="_blank">total debts were £704,522.53p</a>. As well as the outstanding VAT-related debt, the company, whose principal activity was "offering financial, administration and consultancy services", had other creditors. These included £1,756.55 to credit card provider Barclaycard and £2,040 to information provider Bloomberg.
Media executive David Chissick, whose address is also listed as Sacha Gaydamak's law firm, joined the board, while <a href="http://www.telegraph.co.uk/finance/2932401/Gaydamak-under-the-floodlights.html">veteran TV commentator Fred Dineage resigns</a>.
Transfers
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Other
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Portsmouth are currently bottom of the Premier League and in serious financial difficulty. As of January 2010, players have had their wages delayed four times, and HM Revenue & Customs (HMRC) have presented a petition for the club to be wound up in the High Court of Justice. French club RC Lens and the former owner Sasha Gaydamak are also owed significant sums of money which require immediate payment. Grosvenor Basingstoke Properties Ltd has since joined HMRC in the winding up petition against Portsmouth Football Club.
