The reason why we have missed out on the Reading left back is because we can't afford him, according to Harry Redknapp. The Pompey gaffer claims we have to sell to buy but our most valuable assets that Harry is willing to sell (Davis and Nugent) are reluctant to leave.
Personally I'm not too bothered that we've missed out on Shorey. He may be technically sound but lacks pace (as Utaka proved last season) and was part of a defence that was only better than Derby's last season and of a back four that conceded a whopping nine goals against us.
What causes me slight concern (as well as every other Pompey fan as I imagine) is that we can't afford to fork out £3.5 million for a player at the moment.
At the start of the summer, Peter Storrie promised that three big names would arrive at Fratton Park before the end of August.
Just a couple of weeks ago things were looking very bright as Peter Crouch had signed for a club record fee and it looked likely that Shaun Wright-Phillips and Younes Kaboul would follow.
Fast forward to the present day and we've had to sell Sulley Muntari to fund the signing of Peter Crouch (and not the proposed transfer of SWP) and now we've got no idea if Kaboul will arrive and no clue as to how much money we have got.
The only information we have is that we have signed Crouch for a maximum of £11 million, signed Glen Little for nothing and loaned Ben Sahar for half the season. We then sold Muntari for £12.7 million which currently means Sacha Gaydamak has made at least £1.7 million in profit so far this summer.
So where has the £40 million + Sky TV money gone?
Who knows? My guess is that a lot of that money is being put into the funds for the new training facility and (hopefully) the new stadium fund.
It might just be Sacha looking to recoup some of the huge amounts of money he has spent on this club already. After all, we have bought many players since he has arrived and not seen too many players leaving to "balance the books" so to speak.
Not to mention that we have one of the highest wage bills in the Premier League and we don't have a massive stadium to make that money back instantly. Sacha can't just be continuously shelling out for new players without something in return.
He is a businessman after all and he doesn't have a bottomless pit of money so he has to make sure that he doesn't go into debt that ends up spiralling out of control and placing Portsmouth FC into a similar situation as Leeds United.
Whatever our financial situation is, I'm confident that PFC is in safe hands under Sacha's regime and if we have to sell to buy again then so be it. It's not like we're the only club gunning for Europe in this situation is it?
Everton, Spurs and Liverpool are certainly in the same boat and the same could be said for every club bar Chelsea, Aston Villa and Man City who are currently loaded.
The bottom line is that even if we don't see any more transfer activity this summer, we're still going into the season a much stronger outfit than this time last year.
But I'm sure Harry will bring in more players before August is over and if we don't have much in the coughers then who is to say that Redknapp won't find a bargain or two like he used to before Sacha took over?
So whilst the situation is a tad disappointing at the moment and people are pissed off with Storrie's "lies" (Nothing like good PR when Season Tickets are on sale, eh?) we must remember that there is plenty of time for Harry to pull a rabbit or two out of the hat.
For now we should just enjoy our third visit to Wembley in the space of three months!