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Former Pompey chairman clears Gosport’s stadium debt from his own pocket

It has been revealed that the former chairman of Portsmouth had cleared Gosport Borough’s £7,000 stadium debt from his own pocket.

The Southern League Premier Division South side were in more than £200,000 in debt, but now they are just one pay off away from completely wiping it clear thanks to Iain McInnes. Many would consider looking to a personal loan option (such as https://www.sofi.com/personal-loans/) to deal with this, but the club appears to have gotten lucky with the honesty of the former chairman.

In October 2017, Gosport were 11 months behind paying rent, owning £7,451, with just £500 paid towards it until the beginning of June 2019.

He said as quoted by The News, Portsmouth: “I promised the council I would pay it and I stood by my word.

“This money was never owed by me but fell into my lap when I took over the club. Fortunately Gosport Borough Council has been very supportive, not withstanding my relationship with Portsmouth.

“Some of that debt was negotiated down with the creditors, but it was still a sizeable amount.

“To pay that off and keep the club afloat at the same time was tough.

“At the end of the day they were owed that money and had to be repaid.

“This club is a totem pole in the community and I really want to see it grow.

“It’s not a dead duck by any means and I fully intend to finish what I have started here.”

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