Portsmouth’s new owners are stuck with a bill of £6.72m to pay off 25 players – all of whom no longer play for the club.
The Pompey Supporters’ Trust saved the club from total extinction back in April but had to agree to take on the financial burdens left by a series of former owners.
According to Portsmouth News, the documents presented to the Companies House show that all of the players must receive the full amounts stated in their compromise agreements.
The figures range from a £3000 payment made to Kelvin Etuhu in late August to more than £1.6m owed to defender Tal Ben Haim over the next three years.
Other players still owed money include goalkeeper David James, Kanu, Greg Halford and Benjani. The club has experienced administration twice in recent years, first in 2010 and then again in 2012.
Currently in league two, the bottom tier of the Football League, Portsmouth must use their Premier League parachute payments to eliminate years of mismanagement.
The £6.72m figure does not include money owed to local businesses, who will only receive a small portion of what they are owed under the terms of Pompey’s two administrations.
The club began repaying players in May of this year, with all 25 needing to be paid in full by July 2016 to meet the terms laid out in the latest administration. Portsmouth has to spend at least £108,449.70 a month on former players for the next 35 months.