Stoke chairman Peter Coates claims Portsmouth tried to cover their losses during dealings for Asmir Begovic.
The Bosnian goalkeeper has become the centre of attention after it emerged that Pompey owe £1million to Tottenham for his services, despite the keeper having never joined or played for the North London club.
The White Hart Lane outfit are just one of a number of creditors waiting on money from Portsmouth, who have run up debts to the tune of £120million.
The Begovic matter relates to a payment made by Spurs on the understanding that they would sign the keeper during the January transfer window.
However, the 22-year-old opted against a move to North London, securing a switch to Stoke instead.
That decision left Spurs out of pocket and Pompey frantically searching for £1million with which to reimburse their Premier League rivals.
One way in which they tried to do this was by demanding more money from Stoke for Begovic, but the Potters refused to budge.
Coates told Sky Sports News: "It would seem they (Portsmouth) had agreed a price for two players with Tottenham and if Begovic didn't go to them they would owe them £1m.
"We have no liability, we have done the deal and we have no involvement.
"They (Portsmouth) wanted to increase the price. We agreed a price of £3m but they wanted to increase it to £4m because of this liability.
"We said it was nothing to do with us and weren't prepared to do anything other than pay the price they were (initially) asking for the player.
"The facts are they had accepted a deal of £3m for Begovic from Spurs and we were prepared to match it but not pay any more. And he chose to come to us which we are delighted about."