Eisner learns cost of success after Portsmouth account reveal on wages
Portsmouth have released their latest accounts with the celebrations of promotion to the Championship ending quite quickly.
John Mousinho has endured a tough start back in the second tier at Fratton Park after many years away for the club, currently sitting 23rd, two points away from safety with as many games in hand.
Michael Eisner invested to get the club away from League One, and it looks like he will need to do the same to keep it that way moving into January.
Portsmouth promotion party cost
Kieran Maguire analysed the latest accounts for the 2023/24 season on X, with wages going up 28 per cent across the club.
Alongside that came boosted revenue by nine per cent and the underlying losses went up a whopping 47 per cent, which were likely expected given added costs.
Looking closely at the wage structure, the big jump in the past year will have been the automatic promotion bonuses likely in the contracts of the players.
10 years ago, Pompey were paying £4.18million in wages, a figure that has now hit £10.57m in 2024.
After a steady few years in the wage structure, the full takeover of Eisner and the Tornante Investment Group in 2017 saw it jump by nearly £2million in as many years.
After failing to secure promotion to the Championship quickly though, it took a dip in 2022 back below £8m after the 2020 high.
Finally though, with 2024 accounts partially revealed, the wage structure going above £10m shows the cost of success at Fratton Park and what it will take to stay there.
Despite wanting to keep a settled transfer strategy in place, sometimes you need to keep spending, within reason, to ensure success in football.
Finance Expert Dan Plumley recently told Pompey News exclusively that he doesn’t expect significant spending in the January transfer window, with wages likely to stay at a similar level.
Unfortunately, that may not be enough and with costs only going one way in the football market, Eisner is quickly learning the cost of success in the Championship, with those wage numbers only set to go one way if he wants to survive the drop.
In other Portsmouth news, Don Goodman urges the club to act in the transfer window.
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