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Page last updated at 18:03 GMT, Friday, 15 August 2008 19:03 UK

Redknapp lacking Portsmouth funds

Harry Redknapp
Redknapp has been forced to balance the books at Portsmouth

Portsmouth boss Harry Redknapp has hinted that the club may be entering a more prudent financial era after the 3m sale of Pedro Mendes to Rangers.

With chief executive Peter Storrie revealing more than 60m has been spent on players in two years, Redknapp said he may have to sell before he can buy.

"We know the owner can't keep funding it. It's not a bottomless pit. We had to accept the offer for Pedro.

"There's no money left for signings, but we have spent good money," he said.

"The owner (Alexandre Gaydamak) has backed me and I can't fault what he has done. There are still great players here."

This summer Redknapp has signed Peter Crouch from Liverpool for 11m, defender Younes Kaboul from Tottenham and Glen Little on a free transfer from Reading.

Ben Sahar and Jerome Thomas have also arrived at Portsmouth on loan deals from Chelsea and Charlton respectively.

However midfielder Sulley Muntari left for Inter Milan in an 11m deal, prior to Mendes' exit.

And Redknapp revealed that in order to make the three signings he deems necessary other players may have to leave.

I had great offers for one or two other players, but they didn't want to move
Harry Redknapp
"We may have to sell another one (to raise the money to buy), but if another one goes that's another loan I need," he said ahead of Portsmouth's opening Premier League game at Chelsea on Sunday.

"We are short of three players. That is what we need to be a squad who can compete on the domestic front and try to have a run in Europe.

"I have to balance the books though. I had great offers for one or two other players, but they didn't want to move."

see also
Pompey snap up Charlton's Thomas
15 Aug 08 |  Portsmouth
Portsmouth sign Kaboul from Spurs
11 Aug 08 |  Portsmouth
Crouch seals 11m Portsmouth move
11 Jul 08 |  Portsmouth
Chelsea loan Sahar to Portsmouth
01 Jul 08 |  Portsmouth
Portsmouth land Reading's Little
20 Jun 08 |  Portsmouth
Portsmouth seal Muntari signing
30 May 07 |  Portsmouth

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