Portsmouth chief Storrie admits transfer plans watered down

Portsmouth chief Peter Storrie admits they've been forced to wind back their summer transfer plans.

He explained: "The credit crunch is there and everybody has been affected by it. We don't get away just because we are a football club. The banks are now tighter and not prepared to put debt on. You just cannot continue to increase debts.

ord=Math.random()*10000000000000000;document.write('');
"I did say we intended to bring in three top players but that was before the credit crunch. The owner has already invested an incredible amount of money, but we cannot keep spending the amount we have spent since the summer of 2007 - in excess of £60million on players alone.

"On top of that you have agents' fees while the wage bill has gone up substantially. All that and with just 20,000 coming through the gates."

Portsmouth chairman Alexandre Gaydamak promised Redknapp substantial funds in the transfer market this summer if they won the FA Cup, but the signings of Kaboul and Peter Crouch and Kaboul were funded by the £11m sale of Sulley Muntari to Inter.

Storrie added: "People have to be realistic. A few players might arrive but not for big money. We have still got more quality players than we have ever seen at Pompey."

Have your say