DETAILED: Spiralling loan player costs as Portsmouth transfer dealings revealed after publication of accounts

While the signings of Joe Morrell and Denver Hume totalled almost £500,000 in transfer fees.

Accounts filed at Companies House for the year ending June 30, 2022, detail the full extent of the Blues’ activity in the transfer market.

Significantly, the seven loan players recruited by Danny Cowley during the 2021-22 campaign represented an increase of £738,000 on the previous season’s total spend on loanees.

That consists of Tyler Walker, Miguel Azeez, Gavin Bazunu, George Hirst, Hayden Carter, Mahlon Romeo and Gassan Ahadme.

The total cost of loan signings is not included in accounts, although during the previous season the club recruited Rasmus Nicolaisen, Lewis Ward, Harvey White, George Byers and Cam Pring, predominantly younger squad players at cheaper cost.

Meanwhile, Pompey received £271,573 in respect of the loaning out of four players during the year – Callum Johnson (Fleetwood), Haji Monga (Bromley and Weymouth), Paul Downing (Rochdale) and Alex Bass (Bradford).

That compares to £93,904 collected in 2020-21, which was primarily Bryn Morris’ loan to Northampton.

Elsewhere, there was an increase in club staff, rising from 117 to 138, chiefly due to now overseeing the gym facility at the rebranded Pompey Health & Fitness Club.

Player numbers dropped from 45 to 36, primarily relating to Academy players, although doesn’t take into account the seven loanees recruited during the period.

Wages and salaries across the club show £7.06m, a slight increase from £7.05m, but once more does not include loan players.

With the cost of loan players increasing by £738,000 compared to the June 30, 2021 accounts, it means a significant amount is excluded from the actual payroll figures.

It is highly likely that loan costs will increase further when this season’s accounts are revealed in a year’s time, following the arrivals of the likes of Josh Koroma, Josh Griffiths, Owen Dale, Joe Pigott, Matt Macey and Di’Shon Bernard.

In terms of transfer fees spent, figures show there was an outlay of £716,375 – of which almost £500,000 was used to recruit Morrell from Luton and Hume from Sunderland.

According to the accounts, Pompey incurred a net transfer loss of £178,000 on players, largely influenced by the January 2022 departures of John Marquis and Ellis Harrison, whose original transfer fees had been amortised down with only five months remaining on their contracts.

Marquis, who cost £1m in the summer of 2019, moved to Lincoln, while Harrison, a £450,00 signing from Ipswich, made the switch to Fleetwood – both for minimal fees.

The accounts are for the year up to June 30, 2022, therefore do not include the sale of Marcus Harness to Ipswich or the recruitment of Colby Bishop from Accrington.

Overall, Pompey have reported a £2.9m loss during that period, compared to a £3.86m loss the previous year.

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