Spurs clarify the million pound question saga

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Spurs have denied the £1m owed to them by Portsmouth relates to a sell-on clause for Asmir Begovic.

It has been revealed that the fee is down to the fact that Spurs paid for Begovic in a joint deal with Younes Kaboul.

A Spurs statement read: “The club can confirm that it has invoiced Portsmouth Football Club for £1m in respect of the failure of the joint transfer of Younes Kaboul and Asmir Begovic to Spurs and in accordance with the Agreement of 30 January 2010 between both clubs.

“The statement contained within the Administrator’s report released yesterday (21/04/10) that it relates to a sell-on fee for Begovic, is inaccurate, as is the statement that the player was registered with Tottenham Hotspur Football Club.

“Our original agreement with Portsmouth was for the purchase of two players for a combined, agreed price.

“The transfer of Younes Kaboul was completed and Portsmouth pressed for an immediate payment in order to alleviate their cashflow situation. We were assured that the transfer of Begovic would be completed before the end of the transfer window.

“In order to assist Portsmouth with their financial difficulties we paid Portsmouth an agreed sum of money, whilst at the same time concluding an agreement that, should Begovic be sold or loaned to any Club other than ourselves, we would be repaid the sum of £1m. Portsmouth were keen to openly and freely agree to this surety.

“Our intention had been to assist a fellow Club in financial difficulties whilst at the same time protecting our commercial position. We shall continue to do the latter and trust that this statement clarifies the position.”

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1 COMMENT

  1. With the level of debt finally exposed in its entirety surely the only course of action now is for Pompey to go into liquidation. No creditor of the club, in their right mind, would agree to a CVA with the current debts and the fact they have been relegated. They couldn’t balance the books with the millions they were receiving from the premiership and although they will receive ‘parachute’ payments it still won’t amount to anything like what they previously received.

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