Portsmouth in Transfer Ban

It seems as if a team in the EPL was actually able to outdo Newcastle with their off-field antics.  Portsmouth’s season has descended yet further into chaos with news that the Premier League have hit them with a transfer ban.

The Premier League confirmed reports by the Daily Mail that they had taken the drastic action because of Portsmouth’s outstanding debts to other English clubs.

Premier League spokesman Dan Johnson told the Daily Mail :

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“We can confirm that there is an embargo on Portsmouth registering any new players.”

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The transfer ban will not be lifted until those debts are paid.

Peter Storrie, the chief executive of the club that currently sits bottom of the Barclays Premier League, admitted recently that Pompey are still struggling with debts of around £10million after selling the majority of their best players.

They owe money not just to other Premier League clubs but to Barclays Bank and a number of agents.

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“It is true that we owe a couple of top agents a great deal of money, and if you say it is £3million I can confirm it is not far short of that figure,” said Storrie earlier this month. “But there are other agents owed their commissions as well. It is through my friendship with them that they are not banging on the door. They have been really understanding. But we have owed money to a number of clubs, and they have also been helpful. I have been asking people to be patient, but they cannot be expected to be patient forever.”

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Portsmouth director of communications Gary Double said:

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“This concerns unpaid money to other clubs and it is in the process of being sorted. We are confident the situation will be sorted by the end of the week.”

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At what point will the Premier League step in and start deducting points from Portsmouth? Yes they are not technically in administration, but when you cannot pay your players on time, or pay your bills to agents and other teams, that sounds like a bankrupt team to me.

It is time for the Premier League to give Portsmouth a deadline.

If they cannot get their financial house in order, then they need to face the consequences of having points deducted.