Portsmouth: Finance Expert reacts to latest losses at Fratton Park after accounts
Dan Plumley has insisted that the latest losses posted by Portsmouth in their accounts are “manageable” at Fratton Park.
Pompey confirmed losses of £3million after depreciation and amortisation in their accounts for the year ended June 30 2023.
The football finance expert admitted that those losses needed a strong ownership structure, with the impending promotion to the Championship going to help.
“It’s manageable in League One to a degree,” he exclusively told Pompey News.
“You don’t want to be getting stuck in a rut and doing that year-on-year and not getting promoted.
“Of course, it is now likely that the club will be back in the Championship next season which would be a huge revenue uplift, anywhere between £7-8million.
“Those losses are manageable to a degree in League One, it needs a strong ownership structure behind that as well to back it and fund those losses where needed.
“You don’t want to be doing it for too many years, but at the minute for a club like Portsmouth, that’s ok and an acceptable loss level given the owner backing. I’m sure, as we see, the aim will be promotion as soon as possible.”
Portsmouth going to the Championship
Promotion will see a big revenue uplift, something that could be worth up to £8million for the club.
With the club only one win away from finally climbing into the second tier, there will be a sense of positivity surrounding these accounts, even with the losses.
It is all about looking into the future now, the past is a long way behind us.
In other Portsmouth news, John Mousinho has reacted to an announcement made on Marlon Pack.
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