Andy Cullen: Portsmouth summer sales prove 'smart' recruitment model well on track
Pompey have made a profit on all three players sold this summer
Andy Cullen is convinced Pompey are firmly on track towards reaping the financial benefits of their player recruitment strategy.
Although he admits the Blues currently remain well behind those established Championship clubs able to cash in on star assets to bankroll new signings.
Title-winning trio Ryley Towler (Lincoln), Christian Saydee (Wigan) and Paddy Lane (Reading) were sold to League One clubs this summer with their Pompey first-team chances having deteriorated.
According to the Blues’ chief executive, a profit was made on each of the three, representing encouraging first steps of a transfer model designed to develop young players before pocketing handsome proceeds from their sales.
Of course, they still have some way to go to reach the standards set by fellow Championship clubs, with the likes of Coventry (£23.7m), Bristol City (£21.7m), Norwich (£13.4m) and Hull (£8.3m) raking in huge player sale profits, according to 2023-24 accounts.
Nonetheless, Cullen is heartened by the early results of the recruitment strategy overseen by sporting director Rich Hughes.
Portsmouth chief: ‘We are being smart with our recruitment’
The Blues’ chief executive told The News: ‘We are very responsible in how we work. The owners want to act responsibly, they want to act sustainably, and we try to do that in terms of being really, really intelligent and smart with our recruitment.
‘I recognise that most football clubs in the Championship have a net player transfer fee surplus at the end of each year, whereas we are at the start of the journey. So, at the moment, we are probably one of the few clubs that actually has a deficit.
‘But that’s something which will change, I am sure, as we start to see some of the great talent within the squad develop and improve. Hopefully they can continue to achieve success and that success means we continue with the philosophy.
‘This summer has seen three sales, they are players who came to Pompey and have all done brilliantly for us, but probably weren’t going to get the opportunity to play as much football this season given the balance of the squad.
‘Overall, each of those three players we invested in we have seen a return, which is what we are trying to do.
‘We are also making sure we are very focused on the opportunities of the players that do leave us, including not undervaluing anybody, because that underlines the strategy.’
In the 2023-24 accounts posted by Championship clubs at Companies House, only Millwall failed to make a profit from player sales, reporting a loss of £400,000.
Those clubs which show healthy player sale profits over that same period also include Middlesbrough (£17.1m), Blackburn (£23.6m), Stoke (£4.4m), QPR (£2.2m) and West Brom (£3.5m).
And, with 11 players recruited over the summer, Cullen believes some could eventually deliver big windfalls for the Blues.
‘We have invested in Portsmouth’s future’
He added: ‘You can see, over the course of the summer, the type of players we have brought in.
‘There are a sprinkling of players which we have invested in for the future. The likes of Segecic, Le Roux, Kirk and Umeh are all going to be players which will be really, really strong assets for the football club.
‘There is also a sprinkling of experience, bringing in the likes of John Swift and Josh Knight into the team, which gives us that bit of balance in the squad.
‘We’ll see how good it is at the end of the season, that’s the only time you can judge the success of a transfer window. We’ve got competition for places across the squad in nearly every position. We are absolutely in a good place.’
Your Next Pompey Read: Ex-Pompey striker swaps League One for Isthmian League in huge non-league coup