Owner Speaks

In this weekend’s matchday programme, Pompey owner Sacha Gaydamak and executive chairman Peter Storrie will address the fans regarding recent media speculation and player movements.

Below is the message in full:

“First of all may we wish you all a very happy new year.

“We want to take this opportunity to update you directly on our plans to continue the success we have achieved over the last three years.

“Since the January 2006 takeover we have spent substantial sums on both transfer fees and players’ wages.

“As a result we have built a high-value, quality squad which has brought success over that period and allowed us to build a club based on sound and sustainable business principles.

“Recently, with the approval of the board and Tony Adams, Peter Storrie has negotiated the sale of Lassana Diarra to Real Madrid and Jermain Defoe to Tottenham, for similar club-record fees.

“Both of these sales have deferred payment terms, in addition to outstanding fees payable to their previous clubs.

“As a result, we are on course to achieve a turnaround from a loss-making business to a break-even position, which gives us a solid platform to recruit new players to the squad and move the business forward.

“We are now operating in a more volatile economic environment in the UK. This, together with the international nature of our player trading leaves us susceptible to adverse movements in exchange rates.

“To counteract this we have reviewed all areas of the business, including salaries and overheads, with a view to making reductions where possible.

“Forefront in our minds will always be our Premier League status.

“The resultant changes will ensure that as a club we come through these difficult times for businesses and football clubs in a stronger position for the future.

“We have no further need to sell any players from our squad. Indeed, we are looking to offer new contracts to players that Tony sees as part of the future beyond the end of this season.

“In addition we are currently working on the permanent acquisition of three players along with two loan deals to the end of the season, one from the UK and one from abroad.

“These acquisitions will increase the size of the squad that Tony has by five players. We are confident that a couple will be concluded shortly, but that all five players will be here well before the transfer window closes.

“Over the last three years we have all worked closely together and have always updated our supporters on club matters, as we are now.

“We are not in a financial crisis as sections of the media would have you believe. We have simply adjusted the business to deal with the current climate until we move into the new stadium when our revenue streams will be increased.

“The sales of Sulley Muntari and Pedro Mendes in the summer allowed us to purchase Peter Crouch and Younes Kaboul and pay loan fees for both Armand Traoré and Nadir Belhadj, the latter of whom we have now purchased.

“During this window the players that have left us are one who wanted to go and another who openly stated, on joining us, that one day he would leave for a bigger club. We have helped both achieve their ambitions.

“The strength of this club has always been derived from the support that you, the fans, give the team and the club. Working together as one, we can continue that success.

“We hope we have given you all a clearer picture of the positive way forward for the club. We will always keep you updated directly via our website and the programme.

“On a final note, we want to reassure our faithful supporters of our commitment to the sustainable longevity of Portsmouth Football Club.”