Former Tottenham Hotspur vice-chairman Paul Kelmsley sued by Barclays over £5m bank loan Since then Mr Kemsley "has informed Barclays that he does not have the ability to repay the amount outstanding under the loan facility and that he no longer has any significant assets or income in the UK. On information and belief, to the extent Mr Kemsley has any significant assets, they are located in the US. Mr Kemsley's Rock property empire collapsed into administration in 2009 with almost £450m owed to Lloyds Banking Group. Mr Kemsley later became involved with the New York Cosmos, the football team made famous in the late 1970s, but stepped down as its chairman and CEO in October. "There was speculation in the media that he had been bought out of the franchise by a group of Saudi Arabian investors," lawyers for Barclays note. Separate court documents lodged in the US show that Florida Cosmos Holding - representing Mr Kemsley and Loretta, his wife - has accused Cosmos Ventures, a Saudi-focused venture, of breach of contract and has sought damages of more than $660,000 (£413,000). According to these papers, the couple live in Florida, while lawyers for Barclays say they reside in New York. Mr Kemsley could not be contacted and a spokesman for Barclays declined to comment.