Source: SKY_Sports
Pompey cut their losses
Portsmouth have announced losses of £16.66million for the 2007-08 financial year.
The heavy loss was recorded despite the club winning the FA Cup last season, however the loss was nearly £7million less than the previous year.
The club anticipate another reduction for 2008-09 and are on track to break even by the time Fratton Park is redeveloped for the 2011-12 season.
A new three-year television deal helped turnover for 2007-08 to rise from around £40million to £70million, and there were increases in retail, sponsorship, match revenues and hospitality.
The club expect turnover to increase by 50 per cent once the new stadium is redeveloped.
