Mark Catlin is confident Pompey’s ‘realistic’ club budget can lay the foundations for a stable future.
The Blues’ new chief executive is now three weeks into his job after the community buyout was completed and recognised by the Football League.
That signalled the implementation of a programme of changes by the Pompey Supporters’ Trust and the introduction of new budgets across the board for the club to adhere to.
Guy Whittingham’s playing budget is just one part of it and Catlin believes the financial ambitions in general are correct.
He said: ‘The club has got to be rebuilt from top to bottom, it really has.
‘Whole areas of staff have been cut and it is about restoring the functionality in areas such as marketing and commercial.
‘This is not a ship I have jumped on which needs steering a few degrees left or right. It was heading towards the iceberg and there needs to be a complete about turn.
‘We have a budget we can do really well on in which we have gone low with our targets you don’t want to be set too high.
‘For instance, no cup run has been budgeted for. So if we can have a good cup run that will all be added income.
‘The commercial side has been set very low, while we are budgeting for gates of 12,000.
‘I think you have always got to start off with a realistic budget, but not a worst-case scenario. For me, that makes complete sense.
‘We have got to start with realistic boundaries and I’m confident we have done that.’
In the meantime, on the playing side, Whittingham is continuing to add to his playing squad.
Patrick Agyemang, Phil Smith, Sonny Bradley, Danny East, Yassin Moutaouakil and Romain Padovani have all penned permanent deals.
And more are set to come in the next week.
Catlin added: ‘The playing side of it is one important part of our finances.
‘Guy has a budget to work to, we are working hard behind the scenes and bringing players in which conforms to that.
‘I think Guy is looking to bring a raft of good, experienced players in as soon as possible as he looks to next season.
‘A lot of hard work is going into this in order to have the squad in place as soon as possible.’