View: Portsmouth could receive financial blow if Accrington Stanley chief is right
Portsmouth are among the EFL clubs set for a financial blow “worse than Covid”, according to comments from Accrington Stanley owner Andy Holt on a recent government move.
As noted on page 53 of The Sun on Wednesday [20 November], from April next year, National Insurance contributions [NIC] from employers will be raised from 13.8 percent to 15 percent.
Holt, speaking to the newspaper, calls the financial blow which will affect EFL clubs “sickening”, and predicts the financial fallout will be “worse than [that of] Covid” with many clubs regularly operating at a loss as it is.
The Stanley chief said: “The noise about this hasn’t exploded yet as the increases don’t come in for a few months. I can see what’s coming. Most [clubs] are already losing money.
“This measure is just a disaster for football. It’s £600 more for every person you employ. For some clubs, it’s going to be a massive hit. What the government have done to us is sickening.
“It’s worse than Covid because it’s going to take cash out of clubs each year with no way of getting it back.”
Portsmouth will have to be more cautious with employee books
With Portsmouth competing in the Championship – as a smaller fish in a much bigger pond than they have become accustomed to in recent years, their financial burden is higher than the EFL’s powerhouses, but is dwarfed by small community clubs like League Two Accrington.
However, Pompey will certainly have to be mindful with the NIC rises of how many individuals they employ, and to whom they offer salary increases or bonuses.
At a time when many clubs’ owners are regularly called out for what fans perceive to be a lack of adequate investment into infrastructure, this is where the Tornante Company who own the Blues cannot be faulted.
With extensive redevelopment works having taken place over the summer at Fratton Park and Copnor Road, more labour is set to be undertaken to solidify Pompey as a higher force off the pitch and in terms of facilities.
The area supporters have become increasingly frustrated regards investment into transfer fees, and the academy setup – which will only become louder if the club’s league position does not improve soon.
In other Portsmouth news, Kusini Yengi enjoys a night to remember which has been rare this season.
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