PL use £2m Pompey cash to pay debts

The Premier League is holding on to more than £2million of Portsmouth's January transfer revenue to pay transfer debts off.

Chelsea and Watford will be paid money owed to them from the transfers of Glen Johnson and Tommy Smith respectively.

Meanwhile the £8million picked up from the sale of defender Younes Kaboul and keeper Asmir Begovic will go towards paying the staff and players. And the remaining £4million will be used to try to persuade HM Revenue and Customs to reschedule the payments on the £7.5million owed in VAT.

It is also being reported that Portsmouth have missed a deadline in paying a £9million chunk of the £28million they owe to former owner Sacha Gaydamak.