accounts show Saints lost 7.7 mill

Pardew was never paid off

 

I agree and see no reason to fret over such a small sum in the great scheme of things.

 

Do we know that for sure?

 

I do not think we need worry about Pompey Wums. Are they seriously going to talk to us about financial prudence! Surely not! Every business has to take a view about expenditure versus income. We do not have money worries. Whatever you may think of Nicola Cortese, it is obvious that he is running the club on a proper business footing. As it happens, my employer has lost money in each of the last 4 years in it's UK operations. They have a plan, and I am confident that they will achieve it. If we languish in League 1 for 5 years there may be a problem, but we won't!

 

Pompey fans can't really talk to us about debt now than they? they're the ones who spent 100 million on a cup and a group of players who once won something with a club 5 years previous, at least with our financial troubles we did it to try and expand the business logically (IE, building a stadium and increasing revenue massively). These finances are nothing to worry about, for starters we have a massive increase in revenue... Arsenal have 200 million pounds worth of debt but they have assets, and lots and lots of revenue, as well as wealthy shareholders who can take large short term losses for long term gains.
The difference between Southampton debt and Portsmouth debt is that our debt is not out of control in comparison with revenue, and we have the profits to pay them off... and unlike Mr GAYdamak, Nicola Cortese has found a group of responsible people who are wary of costs.

And anyway,I'd like to see how we compare with similar clubs with the same revenue structure... we are a championship sized club with championship costs and championship salaries in league 1... once we win promotion it will all even out and we will be profitable.

NO FOOTBALL CLUB IS DEBT FREE, no one can brag because everyone is in the same boat (especially Pompski)

 

DTLW ... I have merged your thread in the this as this was the first thread on the subject of Saints Fianacial Report.

In all fairness I was experimenting ... and by chance it has paid off and worked!

KingslandSFC

 

Come on DTLW........Every time I post I am posting as an individual most frequently not as a moderator. I am entitled to an opinion too!! The fact I am a moderator of this board has nothing to do with it. If you cannot distinguish between the two then I feel sorry for you. You are taking everything as a downer on you. This is simply not true. We did every thing we could to help you and you threw it back our face. Please remember as I said last night we are individuals as well as mods.

 

you are in financial trouble...........

kidding...

 

How did you know about my overdraft..spooky ;-)

 

hahaha..................................Whos gonna pay for Corteses 'Bunga Bunga' parties now?

 

I'll ask him next time I go to one. Wish they'd serve tea and biscuits.

 

hahaha i wonder if they are part of the Hospitality package??

 

I wonder how long it will be before the Liebherr family cash in their investment before they actually lose any more money? A penny for your thoughts as it appears that is all you may have!

 

I see nothing for us to worry about in this. As said previously this is last years accounts and the next lot should read better. Even with the Pardew pay-off added.

 

The structure of Saints accounts are no different to that of Chelsea, Man City, Fulham etc. It's just a paper loss with all liabilities covered by the Liebherr estate. Any loans can be turned into shares if need be, that's probably how Chelsea will get round the new uefa rules.

As a private company, Saints don't have to issue accounts. I don't think the skates did under Manderic for over 5 years and that was clearly deliberate to keep the fans in the dark because it was nothing but bad news that he was trying to hide.

 

Not claiming to know anything myself, but a regular on the Echo site showed the complete document (available for only £4.50 if you want some bedtime reading) to his accountant. He didn't think it was too dramatic. At that point we had £2.6 million in cash, never mind the assets. Our income had increased by 50%. Some of the debt appeared to be because we had taken season ticket money but not yet played the season. In other words, the debt would be 'paid' when the ticket holders had seen the matches. ML was sole owner. Interestingly, NC was not on a vast wage but probably has promotion bonuses due.

 

Was told a number of times when the takoever first happened that Liebherr put "enough money to cover costs and transfers for at least 4-5 seasons" into a separate bank account for Cortese to call upon as and when.

 

we were losing money under that clown Lowe, and spiralling downwards. This loss is supporting an improvement in playing staff, investment in training facilities and the academy. We know that the long term strategy is to be self sufficient, and an increase in turnover of 61% is a sure sign we are on track. The most important part in the accounts is the statement of continuing support from the Liebherr family! In Nicola we trust. COYRs!

 

As I have said before, there is no need to worry at all, but for those of a nervous disposition who worry about the "profit and loss side" I would like them to bear in mind the assets side of the equation; how much value has been added to Alex Chamberlain in the last year? Lallana?
In previous years under Lowe we would have sold these players and made a profit, and all been complaining like mad about how the future of the club was being sacrificed for short term advantage.
Forgive me if I prefer this way of doing business.

 

Hey, Red army comrade,

Is "GAYdmaski" meant to be a joke? Are we homophobic here now?

Grow up, fool.

COYS