Eisners reaffirm Portsmouth commitment amid £1.26m reveal
Portsmouth are still adjusting to life back in the second tier but their approach is certainly starting to yield rewards for their approach.
Pompey have suffered some financial hits with promotion to the Championship, ironic it may seem, due to the increased expenses associated with the demands of the new division.
The Blues announced a £5.6million loss for the 2023-24 financial year at the end of December, but are on top of matters with CEO Andy Cullen leading the business operations.
Portsmouth spent £1.26m on Hayden Matthews
Portsmouth were under pressure to recruit strongly in the transfer market over the course of January and early February by the support base.
The concern has long been that John Mousinho was not suitably equipped for the challenge of the Championship with the squad he had.
Fans had a point and the board looked to spend within their means to achieve it, splashing out £1.26million on Hayden Matthews in a record A-League transfer in Australia.
“We are now getting some really strong assets into the club that will serve us well in the future but we’re not going to put this football club at risk,” Cullen told BBC Sport (12 February).
“The supporters will, only in recent times, know the consequences of overspending and getting yourself into difficulties – but every time we’ve gone to the owners for some extra cash, we’ve been able to make the case for why we want to bring players in and as of this window, they’ve supported us yet again.”
Financial disarray has scarred Pompey but Eisner clearly willing to back
Portsmouth fans need little introduction to financial hardship – the reason the Blues were out of the top two divisions for a 13-season period was down to exactly that.
Years of shoddy ownership, lack of accountability and disorganisation across the board left Pompey on the bring of going out of existence, treading water in League Two and with players on month-to-month contracts.
It was only in 2013 when the Pompey Supporters’ Trust gained the keys to Fratton Park that things started moving upwards, and it was a long progress which culminated in Michael Eisner’s Tornante Company taking the reins in 2017, paying £5.67million for the club.
If anyone knows to be cautious in the financial minefield of the Championship, it’s Portsmouth. The difficulty now on the South Coast is striking the perfect combination of healthy balance sheets and a competitive squad to re-establish themselves in the second tier.
But what the Matthews deal reaffirmed is how committed Eisner is to making progress. There is a sensible approach to recruitment at Fratton Park right now.
The signing of the Australian just exemplified, however, that when there is a business sense in deal there will be work done to try and get make it happen.
Cullen’s words are reassuring and if Pompey can keep their heads above water in the Championship this season, there is no reason to believe they can’t once again kick on in this league.