Rafa's £17m bid for Johnson accepted by Portsmouth

Transfer Speculation

Rafael Benitez's £17 million bid for Glen Johnson has been accepted by Portsmouth reports today’s Telegraph. He story says part of the fee will involve “writing off £7 million owed for Peter Crouch.”

The article goes on to speculate: “Benitez has a kitty of £15 million, though he may find that augmented once co-owners Tom Hicks and George Gillett have refinanced their £350 million loan with RBS and Wachovia. Sources at the club insist he does not have to sell to buy, though a mooted £6 million bid from Real Madrid for right-back Alvaro Arbeloa may be too good to turn down.”