Less financial strength than.....Southampton

It amazes me how many people are still surprised by our financial position. Was no one paying attention when Liebherr bought us out?

 

It's not that - on this board, we have a billionaire owner and are constantly shopping in football's bargain basement. No-one has the faintest idea where all the extra TV revenue has gone, where the Carroll money went, and so on. Hence my scepticism as to how a 'smaller' club can be financially stronger.

 

Because Southampton are owned by a conglomerate, not a single person. Their wealth is not personal.

When they were bought out, due diligence was properly done, and they did not have colossal debts and high interest loans borrowed against their ground.

Southampton didn't spend a season in the championship with a premier league wage bill.

There owners did not have to plug a £110m hole before they could start spending on players.

 

Ah, didn't realise we were the only individual owned club in England with debt owed to the same individual....<cough> <cough> CHELSEA <cough>....

The debt is interest free and owed to the owner. The club more than breaks even - in fact, we would have been the most profitable club in the league if Ashley hadn't taken some repayments back (he's entitled to, of course, no-one is disputing that....but in terms of operating profit, we're doing ok). Our revenues are among the highest in World football, far outstripping Southampton, so if it's purely down to Liebherr vs Sports Direct, then football's fcked.

 

Obviously it's not that we have more revenue than you, because we don't, but we have considerably lower wages and little to no debt. Also our owner is apparently the fifth richest owner in the country.