Portsmouth: League One club report loss of £2.9million for 2021-22 season
- Published
Portsmouth have announced a loss of £2.9m for the 2021-22 season - a reduction compared to £3.86m in the previous league campaign, which was affected by the coronavirus pandemic.
The club spent an extra £738,000 on loan players, which included goalkeeper Gavin Bazunu and striker Tyler Walker.
It earned £271,573 from loaning out players compared to £93,904 in 2020-21.
Gross profit increased by more than £2.5m following the return of fans but remained down on previous years.
Portsmouth finished 10th in League One in the 2021-22 campaign to miss the play-offs for a second season in a row.
Analysis - BBC Radio Solent's Portsmouth Commentator Andrew Moon
A loss of nearly £3million pounds may sound a lot but it's fairly small for a football club and about what would be expected in a season without a major cup run or significant player sale.
Turnover rose with fans back in stadiums but the average attendance at Fratton Park was only 15,000 because of stadium work - a total of £5million was spent on infrastructure during the 2021-22 campaign.
A couple of other minor details jump out, the gym at the training ground, which is now under club ownership, ran at a loss of £100k.
The total wage bill was fairly static, however, that does not include the additional £738,000 spent on loan players compared to the previous season. The club have made it clear they want to reduce their spending on loans in the future.