Portsmouth in Championship ‘hangover’ admits PST after accounts reveal
Portsmouth are suffering a Championship financial “hangover” due to the increased spending demands, according to the Pompey Supporters’ Trust.
The PST issued their review on their official website [30 December] after the club officially announced their full accounts for the financial year of 2023-24.
The club reported a £5.6million loss for the financial year [Portsmouth FC website, 30 December], with a lot of bonuses and necessary increases in the Championship turning Pompey from a big fish in a small pond to vice-versa very quickly.
PST explained: “After every great party comes the hangover. And, from a financial point of view, the Championship is some hangover.
“Finances in the Championship break everything we knew from Leagues One and Two football. In the Championship the financial landscape is wholly different.
“With our current ability to generate revenue, the balance between financial sustainability and competitiveness is always going to result in a bottom six budget, probably bottom three. Breaking out of that group would likely push the shortfall of cash on operations from £2.6m in the 2023-24 season to three or four times that amount.”
Portsmouth must tread enough water until summer 2025
Portsmouth have to tread water and not proceed with a tempting gung-ho approach which almost disintegrated the entire club between 2010 and 2013.
Part of that is being relatively conservative with finances. The trouble is that the demand in the Championship for a ready and prepared squad utterly envelops that of League One and Two.
The Eisners have been attempting long-term off-pitch projects on Pompey’s infrastructure, but the catch-22 is that the Blues would seldom benefit from a lot of what has been planned if they are back in the lower reaches of the EFL.
On the pitch, the January transfer window is massive and Pompey must be at their most astute, while also balancing the books. Matchday revenue is not an issue – the club fill closer to capacity of Fratton Park than any Championship rival at their corresponding stadium this term. TV revenue is also more applicable in the second tier following the bumper Sky Sports+ deal.
The coming months are crucial for the Blues, who are trying to learn from the club’s past mistakes and do things the right way.
In other Portsmouth news, Elias Sorensen is likely to leave on loan in January as of the latest report.
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