Portsmouth to miss out on Premier League parachute payments

Portsmouth administrator Trevor Birch has revealed that the next four Premier League parachute payments will go to former owner Sacha Gaydamak.

Portsmouth administrator Trevor Birch has revealed that the next four Premier League parachute payments will go to former owner Sacha Gaydamak.

A Company Voluntary Arrangement, that has since failed, was agreed during Pompey's last spell in administration.

"Gaydamak was assigned £2.2m of parachute payments to satisfy part of his debt," Birch told BBC Radio Solent.

"I was hoping to get some money from the Premier League, but the next four payments are all assigned to Gaydamak."

Birch reiterated his concerns that the club may not have enough money to get them through until the end of the season.

"We're down to the wire now, I've got a meagre amount of money to try to get us to the end of the season.

"It puts another hole in my cash flow, I'm very worried. I need to turn to other revenue-raising issues and projects but I'm not confident."

 
The game is about opinions. Make yours heard! Join the tribalfootball.com
nation on Facebook today: Facebook.com/tribalfootball

Have your say