The Blues chief executive believes landing some temporary additions to make an immediate impact in the bid to remain in the Championship, will in fact work out as ‘quite expensive’ for the club.
Cullen pointed to loan fees which will need to be shelled out, as well as covering the wages of any players which were to arrive in those circumstances.
Pompey currently have three loan players in the building, in the shape of Brighton’s Mark O’Mahony, West Ham’s Freddie Potts and Middlesbrough’s Sammy Silvera.
That means there are currently two spaces available in the event of those players remaining, with up to five loans able to be named in any matchday squad.
Director Eric Eisner recently stated Pompey will be ‘relying on loans’ in the winter window, though Cullen clarified those comments by saying they will also look to pay fees for permanent deals.
The CEO underlined, however, that temporary additions don’t necessarily mean cheap additions – especially at Championship level.
That was seen last summer with some big fees paid for loans, such as Jesurun Rak-Sakyi’s switch from Crystal Palace to Sheffield United – which reportedly could cost the Blades up to £4m.
Cullen said: ‘Loan players in the Championship are quite expensive. You’ve got a combination of not just wages but loan fees as well.
‘So there’s a different dynamic that comes into play that people perhaps don’t see. We don’t begrudge that in any sense, however, in terms of where we are looking.
‘We’re in a position where you recalibrate once you go out and get somebody.
‘We’ve built a squad up which we felt was capable of building on the success of last season and achieving the first goal of consolidating in the Championship.’
Cullen acknowledged a frustration of loans is that Pompey could conceivably being increasing the value of a player for the parent club to profit.
That was seen as Abu Kamara shone in League One last term, with Norwich then moving the winger on to Hull City for £4.5m.
Cullen feels that negative can be partially offset by developing relationships with clubs which will allow more young talent to come in down the line.
He added: ‘It’s probably one of the quirks of the loan market that you end up taking a player and paying a loan fee. Then that player, particularly a younger player, may return to their Premier League club.
‘Abu is a good example of that, albeit he went back to a Championship club. You end up adding to his value and the other club get the benefit of it.
‘We certainly ended up adding to Abu’s value for Norwich, but that’s what happens particularly with the bigger clubs.
‘If you end are dealing with the West Hams and Brightons and add to the value of those players, you are going to be in a really good position to get their next ones as well.
‘It’s building relationships and that’s where our coaching team are adding value – and that doesn’t go unnoticed.’
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