Guest sicko2ndbest Posted April 10, 2008 Share Posted April 10, 2008 Portsmouth announce loss of £23m Portsmouth have recorded a loss of over £23m for the financial year ending 31st May 2007. The club's wage bill increased to more than £30m as the playing staff at Fratton Park almost doubled. The financial period covers the 2006-7 season, which saw Pompey secure their highest finish in the Premier League as they came ninth. A Portsmouth spokesman told BBC Radio Solent that the results were in line with the club's expectations. Which basically means their success is not maintainable as they are never going to get any more revenue than they get this year (fa cup final & 6th), as they do not have the infrastructure capable of sustaining it. Gaydamak will never make any money so lets see how long he lasts. 3 seasons and 'Play up Pompey' will be heard on the terraces of championship grounds! Link to post Share on other sites More sharing options...
NG32 Posted April 10, 2008 Share Posted April 10, 2008 Thats one hell of a loss, would be interesting to see a break down of that. Link to post Share on other sites More sharing options...
Taylor Swift Posted April 10, 2008 Share Posted April 10, 2008 Aren't they moving to a new stadium? That, combined with the prospect of European football next season will do much to help their revenue. Plus, they've spent quite a bit of money this year and thus won't spend as much next year, and with the tv deal kicking in, they'll be alright imo. Link to post Share on other sites More sharing options...
womblemaster Posted April 10, 2008 Share Posted April 10, 2008 Surely around half the prem are making a loss. However i guess many have over spent this year, because they are banking on the new tv deal, so i guess it wont hurt them.....as long as sky dont go bust!! i exclude from this fact the following clubs.....nufc, manu, liverpool, chelsea, ....thse clubs are not run on normal financial lines, being the play toys of billionaires. As far a i know, arsenal dont have billionaire backers ?? Link to post Share on other sites More sharing options...
O Neill Posted April 10, 2008 Share Posted April 10, 2008 Villa are well backed and as far as I know Pompey themselves are run by a bloke who isn't short of a few bob. Link to post Share on other sites More sharing options...
UV Posted April 10, 2008 Share Posted April 10, 2008 Portsmouth have recorded a loss of over £23m for the financial year ending 31st May 2007. They brought in a lot of players that year obviously on large wages to attract them away from more fashionable clubs, and it's paid off this season in results and where they'll probably make a profit, and also next year if they get into Europe. Speculate to accumulate or wallow in mid-table/relegation scraps. Link to post Share on other sites More sharing options...
Disco Posted April 10, 2008 Share Posted April 10, 2008 Aren't they moving to a new stadium? That, combined with the prospect of European football next season will do much to help their revenue. Plus, they've spent quite a bit of money this year and thus won't spend as much next year, and with the tv deal kicking in, they'll be alright imo. Been meant to be moving to a new stadium since they got promoted but still haven't done anything about it. Link to post Share on other sites More sharing options...
Guest walkerboy Posted April 10, 2008 Share Posted April 10, 2008 Aren't they moving to a new stadium? That, combined with the prospect of European football next season will do much to help their revenue. Plus, they've spent quite a bit of money this year and thus won't spend as much next year, and with the tv deal kicking in, they'll be alright imo. Been meant to be moving to a new stadium since they got promoted but still haven't done anything about it. unfortunately theres very few places in and around portsmouth to build a new stadium(portsmouth is really an island measuring bout 3 miles by 6). they've come up with a few plans in the last 15 years but nothing has come to fruition. the one before last was a pie in the sky idea built half on the harbour and half right on the doorstep of the dockyard. they are waiting on a plan to build on Ministry of defence land at the moment. Link to post Share on other sites More sharing options...
Disco Posted April 10, 2008 Share Posted April 10, 2008 Should've gone with their idea to rotate Fratton Park and use the brownfield land that is already there meaning they could keep some of the original stadium (main stand and the non-shit one behind the goal). Link to post Share on other sites More sharing options...
madras Posted April 10, 2008 Share Posted April 10, 2008 Surely around half the prem are making a loss. However i guess many have over spent this year, because they are banking on the new tv deal, so i guess it wont hurt them.....as long as sky dont go bust!! i exclude from this fact the following clubs.....nufc, manu, liverpool, chelsea, ....thse clubs are not run on normal financial lines, being the play toys of billionaires. As far a i know, arsenal dont have billionaire backers ?? nufc have been run along business lines since ashleys takeover. theres as much an argument that all bar chelsea are being run not as playthings but legitimate financial concerns with a view to making a profit at the end of it all. Link to post Share on other sites More sharing options...
Guest walkerboy Posted April 10, 2008 Share Posted April 10, 2008 Should've gone with their idea to rotate Fratton Park and use the brownfield land that is already there meaning they could keep some of the original stadium (main stand and the non-s*** one behind the goal). yeah yer right. not sure why that idea petered out as they have still built (well still building) a hotel and apartments on that site which was to go towards the stadium. its a continuing farce really- from wiki-http://www.mind42.com/wiki/Fratton_Park The ground has been home to the club throughout its entire history and, despite a number of improvements over the years, the current facilities are showing signs of age and fall well below the standards being set by those other clubs in the Premier League that have either built a new stadium or significantly redeveloped existing facilities. Therefore at the end of the 2003/04 season, the club having consolidated its Premier League status, plans were developed to build a new stadium on the site of an adjacent disused rail-freight depot. These plans, which were supported by the City Council, would also have allowed a much needed increase in ground capacity, which it was claimed would be impossible to achieve on the current footprint because of the close proximity of residential housing. Before work could begin, the plans were superseded by a new proposal to redevelop more or less on the existing site, but realigning the pitch 90 degrees to accommodate a larger capacity stadium, funded in part by a "Pompey Village" residential, hotel and retail project on the adjacent site. Work on the stadium was due to commence in the summer of 2006, and the first new stands were to be opening before the 2007/08 season. Again, before work could begin the plans were dropped, with yet another proposal announced on April 25, 2007 that would see a 36,000 capacity stadium on reclaimed mud flats close to Portsmouth Naval Base. These plans were ambitious and included creating a leisure village around the stadium, complete with 1500 waterfront apartments as well as restaurants and other facilities. The proposal for a new stadium was widely supported, although cautiously by many that were conscious that the waterfront location proposed in the outline plans would be surrounded on three sides, by the Naval Base, harbour itself and railway, thus leaving only one end for access by residents and supporters. Critics also pointed out that the mudflats the stadium was proposed to sit on was close to an area of Site of Special Scientific Interest, would be difficult to get to by road and had nowhere near the amount of car parking facilities needed for such an enterprise [Portsmouth is an Island, with road access by only three routes from the north, and the waterfront site was close to the south-west extremity of the island]. These plans were also dropped before work could begin. The club had undertaken consultation and there were a number of objectors to the proposal, no least about the problems that 36,000 fans would cause to the local travel infrastructure. The Royal Navy also said that the proposal would cause problems with the proposed introduction of their new super-size aircraft carriers. Currently, the fourth set of plans, propose building the stadium and leisure/residential complex on Horsea Island. Again, this proposal has local support, but again, it suffers from less than ideal transport links. At the beginning of January 2008, the plans have not yet been formally submitted for planning approval, so it is unclear when the stadium might see the first game. Link to post Share on other sites More sharing options...
Guest shaun11177 Posted April 10, 2008 Share Posted April 10, 2008 The wage bill was 30m not bad-The Newcastle wage bill 55m-seems like they are getting better value for money. Link to post Share on other sites More sharing options...
NG32 Posted April 10, 2008 Share Posted April 10, 2008 The wage bill was 30m not bad-The Newcastle wage bill 55m-seems like they are getting better value for money. Or a better manager Link to post Share on other sites More sharing options...
Skirge Posted April 10, 2008 Share Posted April 10, 2008 Price of Harry's bungs must have gone right up. Link to post Share on other sites More sharing options...
Jaehyun Posted April 10, 2008 Share Posted April 10, 2008 Price of Harry's bungs must have gone right up. Haha a bungs joke, what...3 months post-Allardyce? Link to post Share on other sites More sharing options...
Skirge Posted April 10, 2008 Share Posted April 10, 2008 Price of Harry's bungs must have gone right up. Haha a bungs joke, what...3 months post-Allardyce? aye but Harry is still out on bail Link to post Share on other sites More sharing options...
Pilko Posted April 10, 2008 Share Posted April 10, 2008 I'm sure it was former Pompey chairman Milan Mandaric who said: "There's only one way to become a millionaire in the football owners game - by starting off a billionaire." Wise words. Link to post Share on other sites More sharing options...
Guest alex Posted April 10, 2008 Share Posted April 10, 2008 Price of Harry's bungs must have gone right up. Haha a bungs joke, what...3 months post-Allardyce? It's not like it isn't relevant to the topic or anything. Link to post Share on other sites More sharing options...
ChezGiven Posted April 10, 2008 Share Posted April 10, 2008 They will go bankrupt apparently Link to post Share on other sites More sharing options...
Teasy Posted April 10, 2008 Share Posted April 10, 2008 Aren't they moving to a new stadium? That, combined with the prospect of European football next season will do much to help their revenue. Plus, they've spent quite a bit of money this year and thus won't spend as much next year, and with the tv deal kicking in, they'll be alright imo. Are they even filling there current stadium though? Also I thought player transfer fee's weren't fully included in these kind of accounts? Link to post Share on other sites More sharing options...
Guest hameed Posted April 10, 2008 Share Posted April 10, 2008 they'll be reporting another loss on saturday hopefully when we beat them Link to post Share on other sites More sharing options...
Guest jcricthon Posted April 10, 2008 Share Posted April 10, 2008 Portsmouth announce loss of £23m Portsmouth have recorded a loss of over £23m for the financial year ending 31st May 2007. The club's wage bill increased to more than £30m as the playing staff at Fratton Park almost doubled. The financial period covers the 2006-7 season, which saw Pompey secure their highest finish in the Premier League as they came ninth. A Portsmouth spokesman told BBC Radio Solent that the results were in line with the club's expectations. Which basically means their success is not maintainable as they are never going to get any more revenue than they get this year (fa cup final & 6th), as they do not have the infrastructure capable of sustaining it. Gaydamak will never make any money so lets see how long he lasts. 3 seasons and 'Play up Pompey' will be heard on the terraces of championship grounds! F****** hope so. I hate those dirty, scabby, grimy, s**t accent *****!!!!!!! Link to post Share on other sites More sharing options...
Thespence Posted April 10, 2008 Share Posted April 10, 2008 I dont think there owner is that bothered about making money atm. Link to post Share on other sites More sharing options...
NE5 Posted April 10, 2008 Share Posted April 10, 2008 Portsmouth have recorded a loss of over £23m for the financial year ending 31st May 2007. They brought in a lot of players that year obviously on large wages to attract them away from more fashionable clubs, and it's paid off this season in results and where they'll probably make a profit, and also next year if they get into Europe. Speculate to accumulate or wallow in mid-table/relegation scraps. sack the board. I mean, who the hell cares about reaching an FA Cup Final. Link to post Share on other sites More sharing options...
GG Posted April 10, 2008 Share Posted April 10, 2008 A whole lot of his dad's assets have been frozen, due to his arm's dealing nature, which is the reason why Gaydamak is trying to sell up still, it won't implode, but it damn well could. Link to post Share on other sites More sharing options...
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