Portsmouth is having a tough time in the Premier League this season, losing its first seven league games. Now, The Portsmouth News reports that the club has failed to pay some of its players. Peter Storrie, the club's Chief Executive, examined the situation to tell ESPNsoccernet that the club's money has run out. "All the money from all the player transfers and the Sky TV money, all of the [$56 million] from January, has gone straight to the Standard Bank," Storrie said. "There is no money left."
The club's new owner, Sulaiman Al Fahim, has promised that money is on the way. "[Al Fahim] has promised to re-finance, and he has shown me all the documentation, but I have no idea about the conditions of the [$80 million] he says will be arriving in a few weeks," Storrie said. "We need to re-finance, 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 ten months fighting fires on a daily basis, I'm not giving up."
Portsmouth FC issued a statement on its website about the payroll issue: "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."