Pompey £100M in debt

Pompey have posted a loss of £16.6M for 2007/2008:

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/7988831.stm

and are over £100M in debt according the Portsmouth News:

http://www.portsmouth.co.uk/newshome/Pompey39s-debts-not-unusual-in.5157352.jp

but the Skates aren't worried apparently as debts of that size are common in foobtall:

http://www.bbc.co.uk/dna/606/A49622673

I don't know about you but I think they should be! Apart from Liverpool and Man Utd I'm not sure any other club has debts like that - with nothing to show for it other than an FA Cup. Maybe the Gunners - but Arsenal's debt is all about the Emirates stadium.

And it looks like they bought the FA Cup - with that outlay you'd have thought they'd have won a bit more than the solitary cup. He not that good a manager Redknapp is he really when you look at that!

If they get relegated this season - which is still quite possible - Saints current situation will look like a party! Surely administration would be a certainty!

At least we've got a 32,000 seater stadium, a decent academy and training ground to show for our paltry £7 million debt and £23 million mortgage.

Doesn't look good for Pompey unless they find a buyer in the summer - but why would anyone buy them when the first thing they'd have to do is pay off the debts, build a stadium and a training ground.

I expect someone will though!

Surely they wil sell players like Crouch, Krankjar and Johnson in the Summer to pay off some of the debt and reduce their wage bill - but that's going to put them right amongst the favourites for relegation next season if they stay up this season.

Could the unnamed debtor for £7 million be Mandaric by any chance - i.e. the money he was never paid for the club!

Pompey will have at least another year of Prem money plus diminishing parachutes therafter. Likely that they will unload a number of their high earners and possibly sell 'high value' players like Krankjar.

Question is, would you as a builder, be happy to contract with Pompey for the construction of their 'new' stadium and training ground?

Similarly will Pompey be able to negotiate sufficient bank loans

Having said all that I guess we would swap their situation for ours at the moment.

However if the Gods smile on us the situation could dramaticallly change by this time next year.

Corn fields been cut rather early a Rebel:D

Debt levels in the Prem are ridiculous. Last season, according to Deloitte & Touche, the following clubs had the these debts:

Man U - £605m

Chelsea - £620m (and made losses of £76M!)

Arsenal - £268m

Liverpool - £350m (and could be shut down in the summer if the Yanks can't refinance their loans)

West Ham - £142m

Boro - £85m (Steve Gibson is such a good chairman)

Fulham - £182m (!!!).

In addition Blackburn, Bolton, Newcastle, Sunderland and Wigan (along with Pompey) were all well over the level of wages to income ratio recommended by the Premier League.

Thats whatis wrong with modern fotball. How clubs will survive longterm is going to be a problem.Once a decent side club completely folds it could start a chain.It may well be us to be the first, if not sooner or later 1 will as football cannot rely on moneyed people to bale them out time and again. 20 years time and we could see just 20 full time professional clubs and very regionalised.

Debt levels in the Prem are ridiculous. Last season, according to Deloitte & Touche, the following clubs had the these debts:

 

Man U - £605m

Chelsea - £620m (and made losses of £76M!)

Arsenal - £268m

Liverpool - £350m (and could be shut down in the summer if the Yanks can't refinance their loans)

West Ham - £142m

Boro - £85m (Steve Gibson is such a good chairman)

Fulham - £182m (!!!).

 

In addition Blackburn, Bolton, Newcastle, Sunderland and Wigan (along with Pompey) were all well over the level of wages to income ratio recommended by the Premier League.

Makes our £30million debt look like loose change.

Debt levels in the Prem are ridiculous. Last season, according to Deloitte & Touche, the following clubs had the these debts:

 

Man U - £605m

Chelsea - £620m (and made losses of £76M!)

Arsenal - £268m

Liverpool - £350m (and could be shut down in the summer if the Yanks can't refinance their loans)

West Ham - £142m

Boro - £85m (Steve Gibson is such a good chairman)

Fulham - £182m (!!!).

 

In addition Blackburn, Bolton, Newcastle, Sunderland and Wigan (along with Pompey) were all well over the level of wages to income ratio recommended by the Premier League.

i suppose it depends on who the money is owed to and if they will ever want it back

Thats whatis wrong with modern fotball. How clubs will survive longterm is going to be a problem.Once a decent side club completely folds it could start a chain.It may well be us to be the first, if not sooner or later 1 will as football cannot rely on moneyed people to bale them out time and again. 20 years time and we could see just 20 full time professional clubs and very regionalised.

LOL. For a minute there Mavis I thought you were saying you were a decent sized club.