Portsmouth chief sets the record straight on persistent 'mid-table budget' accusations

And he is adamant that during his 18 months at Fratton Park as chief executive, Danny Cowley’s budget has been increased – never reduced.

Sky Sports recently reported the Blues are operating with the 12th-best playing budget in League One, a claim accepted as fact by some of the Fratton faithful.

However, that has been strenuously denied by Cullen, who is adamant the 10th-placed Blues’ budget is ‘competitive’.

And he also reiterated that the cost of ongoing Fratton Park stadium work remains ring-fenced – with no impact on Cowley’s playing finances.

Cullen told The News: ‘To suggest we have a mid-table budget is incorrect.

‘Since I have been here, we have not reduced the budget in any way whatsoever, despite the economic challenges and the work going around the football club.

‘The playing budget is entirely separate from all the stadium work – and I have to keep reinforcing that point because there is a fear among the supporters, which I understand.

‘People think doing all this great work must mean it’s impacting on the ability to compete. It’s not, that has been ring fenced and protected. We look at it every year.

‘The owners don’t want to be a League One football club, they’ve come in to take the club forward into the Championship and be able to compete for the Premier League. That is why they continue to provide the funds to enable us to enable us to be around the play-offs.

‘Every year you’re going to get clubs that exceed the norm and really push the boat out, but we want to run the club sustainably and also competitively.

‘The resources we have - and what I’ve been given by the owners to put into the first-team budget – is competitive.

‘I have been here 18 months. The budget when I arrived was set, that hadn't decreased from the previous year, and we adapted to certain things that summer (2021) and put a bit more into it.

‘We went into January 2022 and tried to do it astutely in terms of how we strengthened the squad. We went into last summer and again I had a decent budget – and everything we earned was put back into it.

‘The budget has not been reduced, we have not taken any money out of the budget.’

There is no definitive method of comparing Pompey’s budget with other League One clubs.

Although the Football League release a benchmark report twice-a-season charting each club’s individual standing in terms of wage outlay, it does not reveal other clubs’ identities on the list.

Cullen added: ‘In the Football League you have a salary cost management protocol, which stops you from overspending.

‘For League One, that only allows you to spend 65 per cent of your income on players’ wages. You can top that up through equity, but can’t top it up through loans and debt.

‘In October you get a benchmarking report which tells you your position, although you don't know the identity of the other clubs, they are not shared.

‘That report fully endorses we have a competitive budget, although I can’t say where we are.’