Portsmouth have stated that they sold Peter Crouch to Tottenham Hotspur in order to help repay scheduled debts.
The 28-year-old returns to White Hart Lane for an undisclosed fee, thought to be £9million.
A Portsmouth club spokesman told their official site: “We are sorry to see Peter go both as a player and a person and would like to thank him for playing a key role in keeping the club in the Premier League last season.
“His sale was necessitated by the club’s commitment to repay scheduled debts while we are in a transitional period of completing the takeover.
“We will now be looking to add fresh faces to the first-team squad as soon as possible.â€
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