PORT Adelaide coach Ken Hinkley has thrown his support behind a cap on football department spending, claiming it would help level the playing field.

The Power significantly increased its football department spending last season to a reported $16.3 million but still ranked well below the likes of Collingwood, Carlton, West Coast and the Sydney Swans, who all reportedly spent more than $20 million.

The club named EnergyAustralia as a joint major partner on Friday; a two-year deal with the option of a third.

The sponsorship deal will offer Port the opportunity to further increase spending on football operations, but Hinkley said a cap would help produce a fairer competition.

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"We're a long way down, we're at the bottom of the football department spend, but we know if we work hard that doesn't stop us and we're happy to do that," Hinkley said.

"It's not about how much you spend it's about how hard you work…that's what Port Adelaide stands for, we stand for hard work and having a go.

"I think [a cap] would certainly make it a much [more] level playing field.

"There's some parts of the game where you think there's an advantage here and there's an advantage there but really that's for the AFL to decide.

"Obviously, we'd just like a nice, level playing field as best we can."

After playing a key role in securing the club its deal with French car giant Renault last year, Power chairman David Koch said the new sponsorship deal would further boost the commercial viability of the club.

Koch: We want to be number one

The Power recorded an operating loss of $1.7 million in 2013 and a loss of $2.1 million in 2012, minus a $2 million grant from the SANFL.

Koch said he hoped that in three years, once it had proven its on and off-field ability, Port would operate at a profit.

"Last year we still traded in the red but we invested heavily in the football club and increased our spending," he said.

"Compared with the rest of the League we're still at number 15 or 14 for spend, but for us it was a big increase.”