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Friday, 2 October 2009

13 days later.


Storrie has painted a bleak future at Fratton Park unless owner Sulaiman Al Fahim comes up with 30 per cent of his pledged £50m cash injection by October 15.

A report today said that a figure of about £3m is owed to agents Pini Zahavi and Jonathan Barnett of the Stella Group and an interim loan to pay the September wage bill is owed to Ali al-Faray, who wanted to buy the club from Sacha Gaydamak.

Storrie was able to secure a £5m loan deal which will pay the £1.8 million September wage bill and pressing debts. But he fears the October wage bill won't be paid unless Al-Fahim comes up with the promised £15m by mid-October.

Storrie told the sports website ESPN Soccernet: "I have to be truthful and tell you that I don't know if the 30% of the £50m refinancing package will arrive with us in mid-October. I would say that you have the date around about correct, around October 15.

"So the bottom line is the middle to end of October. I really don't know what will happen if that money doesn't come through. All I can tell you, is what I have seen. The documentation is in place, but the proof of whether it is all genuine will be if it turns up. Sulaiman says that it will, so I have to believe that it will. He believes it, so let's wait and see.

"We have a loan to pay the players' wages for last month, but what has been used as security, I cannot tell you because it has been handled by the lawyers between the two parties, while I have just been the guy doing the introduction.

"If we are talking about the club being used as security, then all I can say is that I genuinely don't know, but it wouldn't surprise me. I persuaded them to help the club. There are people willing to help this club because it is worth saving.

He added: "It is true that we owe a couple of top agents a great deal of money, and if you say it is £3m I can confirm it is not far short of that figure. But there are other agents owed their commissions as well. The two agents you talk about have been incredibly helpful. It is through my friendship with them that they are not banging on the door. Rather they have been really understanding.

"But we have owed money on transfers to a number of clubs, and those clubs have also been extremely helpful. So, it all depends on the refinancing and I don't see it as a deadline necessarily in mid October, but if cannot go on any longer than the end of October, to be realistic. I have been asking people to be patient, but they cannot be expected to be patient for ever.

"The Premier League have been helpful, we've been in touch with them and work closely with them, they are keeping an eye on the situation, but I am keeping them informed. They are aware of all the facts."

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