It has emerged today that Watford are still owed £2.4m by Premier League crisis-club Portsmouth for the transfers of Tommy Smith and Mike Williamson (who will presumably soon be departing Newcastle following their promotion!).
The information came to light in an extremely lengthy but frankly honest breakdown of the entirety of Portsmouth`s massive debts, ranging from transfer deals to local florist tabs!
mith fetched £1.8m back in August and Williamson went for £3m though both deals have been heavily broken down into ‘manageable` installments ranging between 250k and 500k a time.
Pompey (£120m in debt), are owed another 900k from the deal which saw two-time Hornet, Tommy Smith leave the club back in August and another £1.5m for Mike ‘Big-time Charlie` Williamson – a deal which also included a sell-on clause for the former Wycombe centre-back.
The payment plan is as follows –
T.Smith:
0/05/2010 £450,000
1/08/2010 £450,000
M.Williamson:
8/02/2010 £250,000
1/03/2010 £250,000
0/06/2010 £500,000
1/01/2011 £500,000
Whether Watford see the cash on time, or even at all for that matter remains to be seen, but hopefully there will be no cut-price bargaining following Middlesbrough`s agreement to only pay the Premier League (for now) outfit half the £1m they owed for Gary O`Neil.
The full report can be viewed here –
http://www.uhy-uk.com/media/news/PFC%20-%20Report%20to%20creditors%20Adobe%207.pdf
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