Reaching the semi-finals of the FA Cup has given a big boost to the morale of Portsmouth fans who have been battered by the club’s financial problems. They even dream of winning the trophy again in which case they would be the first club in administration to win a place in Europe.
Reaching the semi-finals of the FA Cup has given a big boost to the morale of Portsmouth fans who have been battered by the club’s financial problems. They even dream of winning the trophy again in which case they would be the first club in administration to win a place in Europe.
However, the club may not benefit financially. Rule 25 of the FA Cup states that a club in administration ‘shall not be entitled ro prize money, broadcasting fees or pool payments.’ It is believed that the FA is preparing to withhold the £600,000 prize money and broadcast fees that Portsmouth have built up reaching the last four because they owe £3m in unpaid transfer fees. The Premier League withheld £7m due to Portsmouth in broadcast fees in January as several clubs including Chelsea and Spurs complained that they were owed outstanding sums in transfer fees totalling up to £10m. Several of those payments have been made, but not all of them.
The prize money and share of gate receipts would in any case barely scratch the surface of debts revealed last week to be more than £80m.