Portsmouth's Turnover Nearly Doubled in Their First Season Back in the Championship. It Was Still a Struggle

In the 2024-25 season covered by these accounts, Portsmouth finished 16th in the Championship under John Mousinho for the majority of the campaign, before a mid-season managerial change as results dipped following the club's promotion from League One the previous year.

Turnover rose sharply, up by around 80% to close to £25m, one of the largest single-year revenue jumps in the Championship that season, as promotion unlocked significantly higher broadcast and matchday income than League One had provided.

Despite that growth, Portsmouth posted a pre-tax loss of only around £4.5m, a relatively contained figure that suggests the club avoided the kind of heavy overspending that has caught out other newly promoted sides in their first season at this level.

Net assets of around £22m leave Portsmouth in a healthier underlying position than many Championship clubs, a reflection of the American ownership group's cautious approach to spending even as results on the pitch proved harder to control.

A near-doubling of turnover wasn't enough to guarantee a smooth first season back in the Championship, but Portsmouth's restrained losses suggest the club is building for the long term rather than gambling on an immediate push up the table.