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Saints make pre tax profit of £43.7m in latest accounts.

Discussion in 'Southampton' started by saintrichie123, Mar 23, 2018.

  1. saintrichie123

    saintrichie123 Well-Known Member

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  2. saintrichie123

    saintrichie123 Well-Known Member

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    Toby Steele gives a breakdown on accounts.
     
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  3. Saints_Alive

    Saints_Alive Well-Known Member

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    I'm not in the slightest bit suprised, now to be fair to the paying customers (us) and improve the product on the pitch by investing in better players, they have shortchanged us for the last couple of years.
     
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  4. Schad

    Schad Well-Known Member

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    We're but a wee little team with an annual turnover of £182m.

    That meant, in FY 2017, that we had a turnover that exceeded Everton by more than £10m, and we were around £1m behind West Ham. Deloitte's estimates, as usual, were spot on. Unfortunately, we'll take a step back in revenues this year, having failed to make Europe and losing out on a tonne of merit payments, so we have a ready-made excuse to sell over the summer. Yippee!
     
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  5. Saints_Alive

    Saints_Alive Well-Known Member

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    They've got the VVD money to factor in next year.
     
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  6. Schad

    Schad Well-Known Member

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    Don't be silly. We already spent the VVD money on Carrillo.
     
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  7. Saints_Alive

    Saints_Alive Well-Known Member

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    <laugh>
     
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  8. Schad

    Schad Well-Known Member

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    Note also that our benign now-minority owner, while in the process of selling the club, still directed £11m to be used to pay off part of her loan before selling 80% of the club for £210m.

    One other thing:

    This could prove interesting in time
     
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  9. fran-MLs little camera

    fran-MLs little camera Well-Known Member

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    So I'm the only one who saw this in a positive light. We are a business, not a charity, and we are nicely solvent. Would you rather we were in a bad way, that Gao had bought a pup, so would be likely to try and recover his money by methods we might not like. And it seems normal to me to recover loan money before selling the club.....it means you are selling a business with less debt. Would you want to face possible relegation with a club in debt?

    The only difference between a normal business and football is the matter of relegation which can impact severely on the following year. This season has been unexpectedly bad....I expected a season where we would bob in the middle of the pack, but not have much to get excited about. The club didn't want that, so they made the disastrous decision that Pellegrino would be more likely to produce our preferred style of play than Puel. They then decided not to panic (reasonable in itself) and to believe that things would change, but then failed to get in players to support MP2 and left it possibly too late to replace him.

    I don't see how Saints being in a bad financial position would actually improve that situation in my mind. And whilst that profit looks good....how many players (if you include their wages) would it buy? The finances are sound...it's the football side that has failed. Must drive the financial guys mad to realise that, however canny they are, the business relies on a bunch of human beings in polyester who under perform for whatever reason. May be a good thing that they come to realise it.
     
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  10. Schad

    Schad Well-Known Member

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    It actually means more debt. It's typical for the debt to be wiped out in the sale (and the rest was); because the money was taken out of the club beforehand, Gao paid the same amount for a club with 11m less in its coffers.
     
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  11. VVD

    VVD Well-Known Member

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    It's that the investment in new players has been poor compared to our relatively healthy financial position, leading to the stall in growth (footballing terms) and even decline in performance.
     
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    Saints_Alive and Osvaldorama like this.
  12. fatletiss

    fatletiss Well-Known Member

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    No Fran. I’m right with you. The difference may be that you and I don’t feel any entitlement to what they do with their money.
     
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  13. fran-MLs little camera

    fran-MLs little camera Well-Known Member

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    I don't agree that the investment has been poor in actual money terms (that was greatly increased to increase player numbers and length of contracts), but has turned out to be poor in results....and that can be unpredictable. I doubt a single pundit thought we would be as poor this year as we have been. Our GK may have lost form (or perhaps he had previously looked better than he was because our defence was better), but we also lost fire power....partly because we lack real quality up front (aggravated by injury) and partly because we had a manager who couldn't get the best from a pretty decent side. Really it was just a perfect storm.

    Interesting to have the KL issue clarified....as we could never understand how she owned 20% of the club whilst not appearing in books anymore. Landers Sports own the club, but they are owned by another Landers company (of which Katharina is a minority owner).
     
    #13
  14. Le Tissier's Laces

    Le Tissier's Laces Well-Known Member

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    I don’t care how much money anyone makes, as long as we’re performing.
     
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  15. Saints_Alive

    Saints_Alive Well-Known Member

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    It is frustrating to watch players sold and managers leaving and not being replaced adequately when you see the club turning a healthy profit. Having to endure the dire football we have been served up this season in particular is a direct result of this. There has to be a balance when the club has to invest to keep growing in terms of positive results and football on the pitch.
     
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  16. Saintmagic

    Saintmagic Well-Known Member

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    This, but the reality is money spent = success on the pitch in football. I don't know what our spend/profit is like in comparison to other clubs but I'd imagine we are in the bottom third at least, so we aren't really underperforming on the pitch.
     
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  17. Osvaldorama

    Osvaldorama Well-Known Member

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    Good for everyone at the club that they’ve all made a tidy profit.
    Meanwhile the cost of going to football is going up and up, whilst our team is getting worse and having less invested back into it.
    What a fantastic time to be a saints fan :)
     
    #17
  18. VVD

    VVD Well-Known Member

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    We've panic signed Gabbiadini and Carillo the past two January's to save our seasons because we didn't invest properly in the Summers.
     
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  19. Schad

    Schad Well-Known Member

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    A nice thought, but that money didn't appear from nowhere...it ultimately came from the pockets of everyone who bought a ticket, a shirt, a Sky subscription. And while Liebherr was certainly within her rights to use that money primarily to enrich herself, I see no reason why fans should be expected to smile and ask for seconds.
     
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  20. saintkitch

    saintkitch Well-Known Member

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    I'm pretty sure not one of us fans supports Southampton the business. For us fans its all about the performance and that has been poor partly due to the lack of investment. The lack of investment has made the business side good but the performance side bad. Not something to cheer about in my book.
     
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