Portsmouth - Pompey announce 23m loss
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Pompey announce 23m loss

It has been announced that Pompey have recorded a loss over the financial year of 23m - this financial year covers the financial year ending 31st May 2007 and covers the 2006/07 season.

The loss is said to have been 'in line with the clubs expectations' as the wage bill had almost doubled on that during the financial period of the year before, but this would be expected as the further we move forward the higher the wages will become.

It is a double-edged sword in many ways, you have to speculate to accumulate, but so long as we are not speculating way beyond our means - which we do not seem to be doing - then we will be ok.

The bigger we become, the more successful we will hopefully become too, and the more successful we become the more money the club will be able to generate. 'Should' we win the FA cup this season this would generate money and without doubt raise our profile even more throughout the world.

PLAY UP POMPEY!

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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Thursday April 10 2008

Time: 10:00AM

Your Comments (oldest first)

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does the 23 million include the loss of 30 million in transfers? (i presume it does)
pompeycarpet
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10/04/2008 10:13:00

Thank god for our Sugar Daddy.
stillthewhizz
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10/04/2008 10:28:00

Ok lads, a few buckets outside FP on Saturday. Any loose change now.
storagematt
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10/04/2008 10:38:00

put a few quid 'in the pot' for me will you matt as altho i cannot afford to go to this game i and a few others had decided that we would... however we couldnt get tickets, its sold out apparently.
as said the bigger we become the more we will have to outlaw, but so long as we dont go crazy like teams like leeds did we will be ok - and we wont do that. the better and hopefully bigger we become the more money we will draw in.
pompeyrug
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10/04/2008 13:00:00

Don't forget guys this a trading loss and was to be expected given the expenditure - even so it just goes to show how tenuous the finances are of all but the biggest clubs. Given we broke even or thereabouts the previous year I guess we can now put a price on the differences between our 2006/7 and 2007/7 performances... yep 23m give or take a few beer tents.
ChrisW
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10/04/2008 14:33:00

shld read 2007/8
ChrisW
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10/04/2008 15:18:00

It works out at about ₤1,300 per season ticket holder - which if fans paid would triple the prices. That's the cost of success!
eastneydave
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10/04/2008 19:07:00

the 23 million is total operating loss so should include transfers apart from the players owned by sasha (if any now) and not the club. A new stadium, greater profile and attendance will turn that around and the club have formallly declared that it is line with projections. A UEFA cup run would generate more than half that figure but in reality a quarter taking in to account we would need a bigger squad and pro rata wage bill. As Dave says the cost of success!
russellm
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10/04/2008 20:00:00

5th place finish and F.a cup win would help! Also we paid for Defoe outright and are recieving the Benjani money in dribs and drabs
paultsmouth
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10/04/2008 21:31:00

Whilst it is a big loss it is hard to judge on 1 or 2 seasons especially in a successful team building stage in the Premier League. A line is drawn across the books at a certain predetermined date. If large amounts of money come in from successes such as the FA Cup and TV revenue jumps up because of this, it won't be reflected until next year. So in essence we could have a good cash flow situation at the moment but it didn't show on the books when the line was drawn. As it was a operating loss transfer money, ticket sales, TV revenues are all supposed to be taken into consideration. In perspective of the Premier League it is only equivalent to 2 players of the YAKS class.
frattonaussie
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10/04/2008 23:35:00

 

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