Kieran Maguire: Portsmouth must be ready 'brutal' financial nature of Championship

Portsmouth will be playing Championship football next season for the first time since 2012

Portsmouth will need to significantly increase their playing budget to compete in the "brutal" financial realm of the Championship says football finance expert Kieran Maguire.

John Mousinho's side confirmed their Championship return with Tuesday's 3-2 win over Barnsley.

"You need to have big pockets to be in the Championship," Maguire told BBC Radio Solent.

"Portsmouth's squad cost £2m, some cost around £100m, it's brutal."

Maguire revealed that the average loss for a club in England's second tier is £476,000 per week or nearly £70,000 a day.

Following Pompey's promotion, he said the players' wages "are going to have to quadruple if they're going to be competitive with the averages in the Championship".

Contracts will also have clauses in them that include automatic increases should they be promoted again.

However, an increase in income would come from broadcasting revenue in the second tier and, as a result of that, more money from deals with commercial sponsorships.

"For every pound that Portsmouth are currently getting from TV broadcasting deals they will get about seven in the Championship," Maguire said.

"Their TV deal will go from about £1m to around £8m.

"Due to being on TV more, they will be able to go to their commercial sponsors and demand more money with the added exposure."

Portsmouth and others can be inspired by Luton Town

At the other end of the spectrum, Maguire revealed that rivals Southampton will benefit from a £43m TV deal as part of their parachute payments following relegation from the Premier League.

Despite the intense financial strain - described by Portsmouth's chief executive Andrew Cullen as 'insane' - Maguire said it was entirely possible for sides to be competitive in the Championship after being in League One.

"It can be done, we have seen a club like Luton Town go from non-league to the Premier League and Coventry City have come out of League One and they have been challenging at the top of the Championship," he said.

"With the right manager, culture and group it can be done."