Portsmouth owner Michael Eisner and Tornante plough fresh £9m investment into Blues
Tornante have put another £9m into Pompey.
According to details lodged at Companies House today, the Blues’ owners have invested £9m of new shares – in equity rather than loans.
That represents an additional £18m put into the club since November 2021 during the post-Covid era.
As part of Pompey’s £5.67m sale to Tornante in August 2017, they also financed £10m of share capital.
That totals £28m invested by chairman Michael Eisner and his company since arriving at Fratton Park – and all as equity.
It is understood the latest £9m is earmarked to cover operating losses and continued stadium and training ground infrastructure works.
Pompey are scheduled to release their next set of accounts later this month, spanning the year up to June 30, 2022.
However, these are again expected to show significant losses, with the impacts of Covid still felt over that timeframe as fans finally returned to football.
In March 2022, Pompey posted losses of £3.86m for the year up to June 30, 2021 – a period devastated by Covid and playing behind closed doors.
Meanwhile, the £11.5m Fratton Park project is ongoing, with current work on the Milton End representing the final phase of the scheme.
Tornante previously converted £5m of new equity on November 17, 2021, with an additional £4m then invested on June 21, 2022.
The latest amount means £18m has now been put into the club over the last 16 months.