accounts show Saints lost 7.7 mill

Just published accounts showed we made loss last year of 7.7 million. Knew we were running at loss, didn't know it was that big. Hope NC makes explanatory statement.

 

You do realise by making that public we will get the Wums on here with all the usual crap about our finances! Oh happy days and stand by...................

 

Own goal scored ....

 

WUMs will be sprinting over to this thread soon enough.

 

It's a legal requirement to publish accounts. Apparently there will be a further statement this afternoon. It's not surprising with all the outgoings made so far. If I remember rightly, Saints had one good year followed by one bad year when in Prem.

 

would that of included paying off pardew??

 

Yes that is how they used to do it is true. Though all accounts for all companies are public knowledge after a while. My only criticism Fran is drawing our neighbors attention to it by making it a Headlines. I think from a mods point of view that we may just be having our work cut out for ourselves in a day or two. Lets just wait and see......

 

I think they may have noticed anyway!

 

Remove it if you want to..I don't know how.

 

Now why would I do that Fran.......As you say they would have noticed.......were the Saints we can take anything they throw at us. If it doesn't come out today, it will ony come out if we are in a low point so will be a darn site worse. they may well be kind the traditional wummers did say they had turned over a new leaf. We will see......


Incidentally fran.....check your pm (notifications up the top)

 

Despite the accounts there should is no doom and gloom.
Nicola told staff only 2 weeks ago that the club was still not making money but reiterated that the (Liebherr) family was still 100% behind the club and would continue to provide the necessary backing so that "when we achieve promotion this season, we will be in a position to challenge for promotion again next season".
The example set by Leeds,Norwich and even Millwall this year was referred to.

Dont expect any major public announcements re the accounts, we should all realise by now that this is simply no Nicolas way.

 

I wonder if this will affect the plans for Staplewood?and possibly any close season transfer spending?

 

Now remind me ...where do Portsmouth train.....

 

Thanks for your concern Singing Blue but no the training ground plans are not affected and work will go ahead as planned.

 

It will not effect the plans for staplewood. Obviously close season spending will be determined by the backers as and when needed and what league we are likely to be in. No chickens counted here.........

 

They have been waiting for you SB3 ........

 

Hi Guys,

Brief Summary:

• Saints made a loss of £7.7m
• Turnover is up 61%
• Wage Bill stands at £10.9m
• Liebherr Estate committed to Southampton Football Club

Now why some may be shocked or even horrified, I think this isn't too bad.

If you consider when they took over they did up all the dressing rooms, repainted the metalwork on the stadium, bought new players in, literally a whole new team, employed a Premier League Manager and paid off the remaining debts. They made a point of not just paying the Main creditors such as HMRC (ala Pompey), but paying every penny back to every single business. The fact the wage bill stands at £10.9m and we only made a loss of £7.7m is hardly horrific either.

Promotion to the Championship changes this, there is a huge gap in funding for Championship clubs compared to League One clubs. Going up may up some wages and require a few new players but not to the extent needed due to the diabolical state the club was in when Markus and Nicola walked in the door just a couple of weeks before 09/10 season.

They needed people in the door quickly so less negotiations may have happened, all in all I do not feel this is of huge concern to the supporters, those who have common sense anyway.

I think that Cortese and Liebherr are doing a good job, anyone who has a rough knowledge of business will know that setting up or expanding a business often causes you to be in the red for a while, until the club reaches 100% productivity, or near that - there may be losses. Business is all about risk, and we risked it, and sitting 3rd I don't think we can honestly complain too much. Costs will drop for the next report and Turnover will further increase due to the 125th Anniversary Advertising Campaign as well as us having more Season Ticket Holders, at higher rates, for this season. Considering most business beginning running from scratch on loans (rather than Owner's personal wealth - as in our case) we are in a far healthier condition when you consider that Liebherr and Cortese pretty much started from square one just weeks before the new campaign, our first in League One. Championship football next season would further improve the financial position of the club. In Nicola Cortese we have a man who KNOWS how to handle finances, working with several large businesses and even for Italian Prime Minister Silvio Berlusconi, he can't be as useless as some like to make out. He certainly wouldn't have got into Saints with Liebherr if that was the case.

Overall I think there is not an awful lot to fear when you consider the financial position of other League One and Championship clubs. Now let's get behind Nigel and the squad and back them on to promotion through these last 8 games.

Please feel free to comment on the article and give your opinion, whether you agree or disagree with me,

Cheers,

DTLW

 

DTLW Why have you done another duplicate post about the finances. We do not want competition for who is doing the best Threads. We only need one thread per topic for goodness sake.........

 

Booooring

Been there, seen that....

 

Sorry BeddyTare, hadn't realised!

No need to get so aggressive over it !!!