Merson was sustainable for one season, as were Sherwood, Hislop and Stone. Sherwood and Merson we only had for one season and Stone and Hislop were easilly sustainable on the Premier League revenue. Sheringham was signed once we reached the Premier League and he, along with Berger, was equally sustainable on Premier League revenue. Sheringham was only with us for one season. The ridiculous overspending without and pause to think about how it would effect the club began when Gaydamak began his takeover in 2006. Shortly after he came in we splashed £7.5million on Davis, Pamarot and Mendes from Tottenham and £4.1million on Benjani and an undisclosed amount on Olisadebe. Once Gaydamak took over completely and Mandaric left the spending increased and increased and increased. The most money Mandaric ever spent on a player during his time as sole Pompey owner was £2.5million on Diomansy Kamara the most money Gaydamak ever spent on a player during his time as sole Pompey owner was £11million for Peter Crouch. Madaric operated Pompey at a loss but it was not an uncontrolable loss but Gaydamak operated the club in ridiculous levels of debt that spiraled out of control.
so mandaric ran the club at a loss and gaydamak at an even bigger loss. so i was right then. somewhere between badly and appallingly for a decade. you reap what you sow and although i'm feeling pretty devastated for the fans, the club has had this coming for longer than dion dublin's knob (or so i hear)
Pretty much every club in the top leagues are run at a loss. Almost every Premier League club have high levels of debt. The balance is to keep that debt servicable through income. What was done wrong at Pompey was giving Redknapp basically an empty checkbook every season to sign whoever the hell he wanted and damn the expense and failure to invest in the stadium and training facilities thus leaving little to nothing to fall back on once the money from the owners dried up. Nobody who owned Pompey after Mandaric had a long term plan for the club and Mandaric's plan did not see enough investment outside the team and we are suffering for that now.
out of interest, would you be ok with starting a pheonix club? do you think it might be for the best to start from scratch at this point? i can only see this situation coming round again in the near future, even if you are saved, unless serious, serious money is ploughed into the infrastructure of the club. the club will probably fall lower and lower before it can come back stronger. easy to say from the outside but would be interesting to hear what you think? preference, i assume, is for the club to be saved initially.
If the club went out of business then I would follow the pheonix team but I do not advocate putting the current club out of business. Regardless of the current circumstances this is the club of Jimmy Dickinson, it is the club both sides my family have supported as far back as my great-great grandfather, a new club will/would lose all of its history, both in professional and communial terms, and would be lessened for it. I often feel that Gentleman Jim, wherever he is, is weeping over what became of his club.
