Pompey receive crucial Boateng windfall

However, Trevor Birch has warned there is still no cast-iron guarantee the club will be able to see out the season.

The Blues have reached agreement with Genoa over outstanding monies following Boateng’s August 2010 sale.

The Italian club later sold him to AC Milan, with Pompey entitled to a sell-on percentage.

They will now receive several instalments until the end of April, amounting to £150,000.

In addition, the FA have been brought in to try to negotiate a total of £100,000 still owed to the Blues from two other foreign clubs.

Money is due following the sale of Papa Bouba Diop to AEK Athens in July 2010 and a settlement after Nadir Ciftci’s out-of-contract switch to Kayserispor last summer.

As it stands, the Genoa money coupled with the imminent departure of Stephen Henderson will provide crucial income to ease the financial strain.

Yet Pompey administrator Birch remains cautious over the club’s money situation for the remainder of the campaign.

He said: ‘We have reached agreement with Genoa and will get money between now and the end of April.

‘That was reached at the back end of last week and is worth £150,000, with payments spread.

‘David Lampitt had dealings with them before the administration so it made sense for him to go out there and conclude it.

‘We are also trying to work with the FA to unlock around £100,000 we are still owed by AEK Athens and Kayserispor.

‘It’s so difficult to get some of these foreign clubs to settle if you pay on a deferral basis.

‘On occasions like this the FA act on behalf of English clubs.

‘The Boateng figure puts more money into the coffers to give a little bit of breathing space. But I am still loath to categorically state there is enough to see the club to the end of the season.

‘We are trying to keep this club on a life support and that means looking beyond this season.

‘Although I can say we should be okay for the rest of the campaign.’

Henderson’s protracted move to West Ham is today expected to be completed. In addition, it is anticipated Hayden Mullins could make his Reading switch in the next 24 hours.

And Birch reiterated the importance of continuing to slash the annual wage bill – a figure which was at £12.5m.

He added: ‘With such big salaries in the squad, it is important to get the wage bill down to make it more attractive to prospective buyers.

‘That is what buyers look at rather than the squad.

‘The contracts are onerous and would be incredible in League One.

‘I am seeking to bring the wage bill down to £5-6m next season.

‘If the club were in League One that would still be mid-to-high in the table in terms of wage bill. There are clubs there on £3-4m.’