Blue4ever
16 years ago
A former top 10 team that was living well beyond its means... any team could spend millions and millions and get into the top 10, but then not all of them have the capabiity to payit all back long term (few do). The key to debt management is profitability, and Portsmouth never had the profitability levels needed to pay back all the debt they were accruing. Only teams like Utd, Chelsea, Liverpool and Arsenal can take on more debt because of the large fan bases and profitability on a global level; but now look at Liverpool, the debt is becoming a big burden for them too. So it's really not too bad, it's "serves you right for living way beyond your means".