Premier League lifts Portsmouth transfer embargo 27/01/2010 |
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The Premier League has lifted the transfer embargo imposed on Portsmouth – but the club will only be able to sign loan players or free transfers.
The league acted after Portsmouth cleared its debts with other clubs. It has come to an undisclosed agreement with Udinese over an outstanding balance of about £3.5m from the transfer of Sulley Muntari in 2007.
It is thought the Premier League will also return about £1.6m owed to the South Coast club from television money that had previously been withheld.
The Premier League said in a statement: “The board has today [Jan 26] lifted the player registration embargo on Portsmouth Football Club under the conditions that they are limited to signing players on loan or who are available on a free transfer.
“The board has taken this action as Portsmouth FC has no outstanding debts to football clubs as of this date.”
Portsmouth still has about £60m of debt overall and faces a winding-up order in the High Court on February 10.
The club has confirmed it is negotiating with two potential new investors, but sources have distanced themselves from reports that Al-Saadi Gaddafi, the son of the Libyan leader, was involved in either set of talks.
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