CREDIT CRUNCH HITS POMPEY

Portsmouth chief executive Peter Storrie admits that the credit crunch has stymied their transfer plans this summer.

The club had promised three major signings this summer, but have delivered only Peter Crouch and Younes Kaboul before the chequebook has been put away again.

"The credit crunch is there and everybody has been affected by it. We don't get away just because we are a football club," said Storrie.

"The banks are now tighter and not prepared to put debt on. You just cannot continue to increase debts. 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 £60 million 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. 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."