Portsmouth FC: Accounts for the year ending in June 2023 reveal £3m loss

Portsmouth's yearly financial accounts reveal a £3m loss for the year ending in June 2023

Portsmouth's yearly accounts reveal a £3m loss for the year ending in June 2023.

The League One leader's finances also show an increase in revenue by £500,000 in 2022-23 through ticket income and hospitality.

Now into the seventh year of Michael Eisner's ownership, the American businessman has pumped £35m into the club, the accounts also show.

Pompey finished their 2022-23 campaign outside the play-offs in eighth.

The sales of Marcus Harness, Reeco Hackett and Alex Bass amounted to £748,000, while the club spent £1.5m on players last season.

The main investments included Colby Bishop's transfer from Accrington Stanley, understood to be £500,000, and the acquisition of Paddy Lane which set Pompey back £250,000.

The £1.5m figure also includes the additions of Ryley Towler, Terry Devlin, Christian Saydee and Kusini Yengi plus agents fees.

Pompey's £3m loss follows a loss of £2.9m in 2021-22.

Owner's commitment 'cannot be questioned'

Analysis - Andy Moon, BBC Radio Solent Portsmouth commentator

This covered a season that started with high expectations but fell away horribly in the autumn leading to Danny Cowley's departure. Pompey were attempting to compete against sides with some huge budgets in League One that campaign.

There are no great surprises in last season's Pompey accounts. Most clubs expect to lose a small amount if there are no major player sales or hugely significant cup runs.

The improvements to Fratton Park are paying off with revenues rising by more than half a million pounds with extra ticket income and hospitality sales.

Michael Eisner's commitment to the club cannot be questioned with an average investment of £5m a year since he took over.