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Gaydamak comes to Portsmouth rescue

Sacha Gaydamak has come to the rescue of Portsmouth.

The Mirror says Portsmouth have been 'saved' from going into administration by former owner Gaydamak who has repaid a £2.5million bank loan.

But the latest development in the Fratton Park meltdown has left observers asking: "Why does a club that has raised £80million in player sales over the last 18 months still owe the banks money?"

Gaydamak is still owed a staggering £28 million pounds by the Premier League strugglers - and, incredibly, that is just the tip of the iceberg.

And the Israeli also added a fresh twist to the chaos by claiming he does NOT think Saudi billionaire Ali Al Faraj is Portsmouth's real owner, saying: "I think he exists as a man, but he has no influence."

Gaydamak has insisted he wants the rest of his money back.

He added: "I join in the frustration of supporters.

"I would like to know who the ultimate beneficiary of the club is, what their plans are and whether I am to get paid.

"I was the guarantor of the loan to Barclays. When the club didn't pay, the bank came to me and I paid it to avoid it going into administration. If the club goes into administration I lose everything.

"I am owed £9million by the club which is due in January 2010 and another £19 million in May 2012."

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