Vital Football

Pompey announce £23m loss

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!

Join the Vital Pompey Debate

Writer:pompeyrug
Date:Thursday April 10 2008
Time: 10:00AM

Comments

0
does the 23 million include the loss of 30 million in transfers? (i presume it does)
pompeycarpet
10/04/2008 10:13:00
0
Thank god for our Sugar Daddy.
stillthewhizz
10/04/2008 10:28:00
0
Ok lads, a few buckets outside FP on Saturday. Any loose change now.
storagematt
10/04/2008 10:38:00
0
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
10/04/2008 13:00:00
0
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
10/04/2008 14:33:00
0
shld read 2007/8
ChrisW
10/04/2008 15:18:00
0
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
10/04/2008 19:07:00
0
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
10/04/2008 20:00:00
0
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
10/04/2008 21:31:00
0
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
10/04/2008 23:35:00
Page 1/1
  1. 1

Login to post a comment

Recent Portsmouth Articles

Pompey confirm Kabamba deal

Pompey have signed Nicke Kabamba - Jamal Lowe's former teammate - from Hampton & Richmond for an undisclosed fee on an 18 month deal with the option of another year.

On this day in history...18th January

A look back at this day in history, and what was happening with Pompey courtesy of our sister site PompeyRama, 18th January.

In defence of Smith

Cook has raved about the ability Chaplin has but the Pompey manager has also singled out Smith for some praise for his role in the victory over Leyton Orient.

Lowe is aiming high

Having marked his Pompey debut with a goal - within 10 minutes for the reserves against Exeter - Jamal Lowe was on the bench to face Leyton Orient and came on at half time.

Archived Vital Pompey Articles

Vital Pompey articles from

Site Journalists

pompeyrug
Editor email
Profile
eastneydave
Editor email
Profile
paultsmouth
no email
Profile

Current Poll (see more polls)

Orient MotM
Suggested By: Site Staff
Forde2%
Evans0%
Clarke4%
Burgess17%
Stevens0%
Baker0%
Doyle0%
Rose2%
Naismith8%
Smith4%
Chaplin57%
Sub - Lowe4%
Sub - Linganzi2%
Sub - Bennett0%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Doncaster 26 17 4 5 55 19
2 Plymouth 25 16 3 6 51 14
3 Carlisle 26 12 11 3 47 11
4 Portsmouth 26 13 6 7 45 14
5 Wycombe 25 12 6 7 42 6
6 Luton 25 11 8 6 41 13
7 Colchester 26 11 7 8 40 10
8 Cambridge 25 11 6 8 39 9
9 Barnet 26 10 9 7 39 0
10 Exeter 25 11 3 11 36 9
11 Grimsby 26 10 6 10 36 2
12 Blackpool 25 9 8 8 35 11
13 Crawley 25 10 5 10 35 -7
14 Mansfield 26 8 10 8 34 -3
15 Stevenage 26 10 3 13 33 -4
16 Yeovil 25 8 7 10 31 -3
17 Morecambe 25 9 4 12 31 -11
18 Crewe 26 6 10 10 28 -11
19 Hartlepool 26 6 9 11 27 -11
20 Leyton Orient 26 7 4 15 25 -11
21 Accrington 25 6 7 12 25 -11
22 Cheltenham 25 5 9 11 24 -10
23 Notts County 26 6 5 15 23 -20
24 Newport 25 4 6 15 18 -16
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Portsmouth Results (view all)

Portsmouth Fixtures (view all)

Jan 21 2017 3:00PM : Crawley Town (a)
Sky Bet League Two
Jan 28 2017 3:00PM : Exeter City (H)
Sky Bet League Two
Feb 4 2017 3:00PM : Wycombe Wanderers (a)
Sky Bet League Two
Feb 11 2017 3:00PM : Accrington Stanley (H)
Sky Bet League Two
Feb 14 2017 7:45PM : Blackpool (H)
Sky Bet League Two
Feb 18 2017 3:00PM : Barnet (a)
Sky Bet League Two

Vital Members League Table

RankNamePoints
1.pompeyrug49
2.uspompeyfan45
3.PompeyFrippy32
4.storagematt25
5.Copnor4317
6.FrattonBlue15
7.PompeyFromtheUSA7
8.steaming7
9.eastneydave6
10.pompeyweller5
Vital Football Comment