Portsmouth announced that they have suffered a loss of £4.3 million after revealing their latest club accounts in the last few days.
Michael Eisner, Portsmouth chairman, insists he is “pleased” with the clubs growth following the announcement of the club’s accounts, despite not making a profit.
Following this revelation, he has warned that “catastrophe could happen” within the football industry if nothing is done about player salaries and costs continuing to increase like they are at the moment.
So, for the financial year, ending June 30, 2025, Pompey lost £4.3m across their first season back in the Sky Bet Championship – which may have been expected as they would have spent more in their goal to stay up in the second tier.
This brings Tortante LLC’s total investment into Pompey at £54m – they have loaned the club around £17m within the last 18 months following promotion to the Championship.
The 84-year-old is still positive with how Portsmouth are still growing, especially now as a Championship club and how they acquired a new training ground as well as the updates to Fratton Park.
He said: “I am pleased with the overall growth of the Portsmouth Football Club – not only with the facilities, including the renovation of Fratton Park and the acquisition of a training facility, but the protection of the current infrastructure by purchasing land and houses around it.
“Although our present position in the table is of concern, I’m optimistic over the remainder of the season.”
He also commented on the problems which are hovering over the football pyramid in England.
He said: “But let me be clear. There are dark clouds hovering over the English football pyramid, and it seems to me there could be a real collapse where only the Premier League survives.
“Every single club in the Championship lost money last year. The combined operating loss of the 24 teams for the last full set of published results in 2023-24 was £411m ($549m).”
“No club can survive for the long-term in this system and if that continues, catastrophe will happen. If the forces that control the pyramid don’t make football more sustainable quickly, those dark clouds will deliver more soaking red ink.”
