No matter how much you want it to go tits up for them - it won't. They have an extra £100 million in the bank an even if they go down they will still be raking in money from parachute payments.
I think it is quite a shame. Forgetting the admin stuff, Saints are one of the few teams who have organically put together a side with a League One core, added some incredible English academy talent to their first team and become a resounding Premier League success.
This unfortunately demonstrates that getting to the Premier League really isn't that glamorous for the hardcore football fan anymore. The ceiling is so low....what can you really achieve? 7th/8th placed at best. Whoopie.
Of course I would love to see us get back there, but at the same time I don't envy the clubs who are there who quickly lose their soul and just make up the numbers so teenagers in Malaysia, Pakistan etc can tune in to watch Chelsea and Man United each week.
Trouble with that argument is you then have to apply that rule personally to everything you dislike. You can then never dislike a person or situation because you have to not account for the reason you do so. It wasn't just the fact they chose admin, it was the way they went about it and the attitude of their fans towards it. I don't really wish anything towards them but I certainly don't have any sympathy or wish them well.
Was speaking to a Saints fan on Sunday - he reckons that they're £200m in debt.
That's some going in the 4(?) years since administration.
And also that most of their players are/were home-grown ! If you add the likes of Bale,Oxlade,Walcott who have been sold for big money over the past few years, thats quite some academy they have there.
Bloke who bought the club died. His daughter has taken over. Katharina Liebherr's open letter to Saints' supporters (Wed 22 Jan 2014)
Having inherited Southampton Football Club following my father’s untimely passing, I am delighted and proud of the exhilarating period of success that the team and the staff has enjoyed these past few years, buoyed by the unstinting support of the fans.
I am absolutely committed to ensuring that the club continues this success. I have met our manager Mauricio Pochettino and have given him my complete support to build on the good work that has already been achieved. We have also said that we have no plans to sell any of the squad during the January transfer window. Yesterday I met the rest of the staff and gave them the same message of support.
We are now in the top half one of the most competitive leagues in the world, playing attractive football with a young and ambitious team, and poised to move into world-class training facilities. We have much to be thankful for. I am particularly excited that the Southampton tradition of nurturing and providing young talent with first team opportunities is set to flourish with the strong academy foundation we have put in place.
Off the pitch, my priority is to establish the proper running of the club at the top. I also have a strong team of advisers around me as we plan the way forwards. As soon as we have more news to share, we will do so.
We are looking to the future with a determination to create a culture based on open communication, respect and hard work.
Finally, let me say this. I will ensure that all decisions made about the future of the club will be in the best interests of its staff, players, management and fans and will be taken with the prime objective of honouring and maintaining the club's heritage and tradition in the Southampton way.
Maybe all the local businesses that got bent over when they went into administration can be paid back now then?
This has popped up a few times on this messageboard and I wonder where it's come from. Saints were lucky enough to be taken over by a wealthy man who was prepared to bankroll the push back to the Premier League but it didn't come at the expense of any creditor. Southampton Football Club Ltd paid back every single penny that the club owed the bank and creditors.
You don't have to take my word for it. For a club to come out of admin, they either need to agree a CVA with its creditors to only pay a part of the sums owed (like Portsmouth's 0.4p in the pound), suffer a further points deduction (like Leeds and Bournemouth) or pay back everything. There wasn't a CVA, nor was there a points deduction so there was no local businesses or charities that suffered any loss.
Maybe all the local businesses that got bent over when they went into administration can be paid back now then?
This has popped up a few times on this messageboard and I wonder where it's come from. Saints were lucky enough to be taken over by a wealthy man who was prepared to bankroll the push back to the Premier League but it didn't come at the expense of any creditor. Southampton Football Club Ltd paid back every single penny that the club owed the bank and creditors.
You don't have to take my word for it. For a club to come out of admin, they either need to agree a CVA with its creditors to only pay a part of the sums owed (like Portsmouth's 0.4p in the pound), suffer a further points deduction (like Leeds and Bournemouth) or pay back everything. There wasn't a CVA, nor was there a points deduction so there was no local businesses or charities that suffered any loss.
I am pleased to hear this Andy, I hope all those stories will know go away. I do worry for your club though with all the sales going on at the moment, I only hope for your sake that your fantastic youth players keep coming along in time to replace them.
Maybe all the local businesses that got bent over when they went into administration can be paid back now then?
This has popped up a few times on this messageboard and I wonder where it's come from. Saints were lucky enough to be taken over by a wealthy man who was prepared to bankroll the push back to the Premier League but it didn't come at the expense of any creditor. Southampton Football Club Ltd paid back every single penny that the club owed the bank and creditors.
You don't have to take my word for it. For a club to come out of admin, they either need to agree a CVA with its creditors to only pay a part of the sums owed (like Portsmouth's 0.4p in the pound), suffer a further points deduction (like Leeds and Bournemouth) or pay back everything. There wasn't a CVA, nor was there a points deduction so there was no local businesses or charities that suffered any loss.
Wasnt it Southampton who thought that they could squeeze round the rules and went into Administration after they'd been relegated from the Championship thinking they'd receive the 10-point deduction for that season..? - At the end of the day was only the Football League being switched on that the deduction came into effect the following year
No, Southampton entered administration on 23rd April 2009, they could have still had the 10 point deduction applied in that season if they had "stayed up" though the 10 points would have meant they would be relegated anyway. As it happened Saints were relegated on 25th April so the penalty applied from the next season.
No sympathy what so ever for club or fans. They took the admin option then mysteriously found loads of money for players. The two Southampton fans who posted on here had no shame and didn't have a problem with what they did. Hope it all goes tits up for them.
I don't have a problem with what we did either, it wasn't mysterious. Southampton went into administration and Markus Liebherr realised that at £15m the club was pretty cheap so bought it. One of the other groups interested were the bunch who ended up taking over Coventry City so Saints were very lucky but there wasn't anything dodgy about it.
No sympathy what so ever for club or fans. They took the admin option then mysteriously found loads of money for players. The two Southampton fans who posted on here had no shame and didn't have a problem with what they did. Hope it all goes tits up for them.
I don't have a problem with what we did either, it wasn't mysterious. Southampton went into administration and Markus Liebherr realised that at £15m the club was pretty cheap so bought it. One of the other groups interested were the bunch who ended up taking over Coventry City so Saints were very lucky but there wasn't anything dodgy about it.
That's one hell of a 'sliding doors' type moment, when you consider how comparable Southampton and Coventry are as clubs
Neatly sums up modern football in this country. I'm not bothering with Sky Sports this year. The interest is rapidly dying. And I do feel some sympathy for Saints fans. That is a serious dismantling job. Christ, we still have long debates about what might have been had Parker stayed!!
A good article, although I'm not clear what difference it would have made, if the owner hadn't died and Cortese had stayed on as Chairman. The article refers to the owner & Chairman's naivety, yet, says it's almost fait accompli with FFP. If it's fait accompli, then I can't see how their naivety or otherwise would make much difference.
Interesting that they write an article so critical of the big 6 parasites and it is completely surrounded by links to....articles bigging up those same big 6 parasites.
Hear hear to a European super league. bring it on and good riddance to them. Their Malaysian and Korean fans will absolutely love it but the relative handful who we'd recognise as proper supporters will suffer with the cost of away games LOL.
Interesting that they write an article so critical of the big 6 parasites and it is completely surrounded by links to....articles bigging up those same big 6 parasites.
blockquote>
Tbh many of us are just as guilty. Many of us moan about the "big six"/Sky etc, yet when Man C v Arsenal is on we're all watching. When it's Middelsbro v Bolton we're not all watching. No hair splitting please as ykwim.
No sympathy what so ever for club or fans. They took the admin option then mysteriously found loads of money for players. The two Southampton fans who posted on here had no shame and didn't have a problem with what they did. Hope it all goes tits up for them.
So do i seeing that i have had a few quid on them to go down at 7/1
Even if they get relegated, and all the angst that goes with that. They could spend a fraction of what they're getting in and get promoted, and all the joy that goes with that. Given that they're unlikely to be in any way a consistent top six club, the policy of cashing in seems to make sense, and it does not seem a million miles away from Roland's plans for us.
Even if they get relegated, and all the angst that goes with that. They could spend a fraction of what they're getting in and get promoted, and all the joy that goes with that. Given that they're unlikely to be in any way a consistent top six club, the policy of cashing in seems to make sense, and it does not seem a million miles away from Roland's plans for us.
I don't disagree with you Seth, but I think Southampton have been a mid table top tier team for many, many years. Their relegation in 2005 was the first season out of the top flight since 1978. They, now, have a super stadium and what seems an unbelievable youth academy (seriously if someone tried to tell you about their successes without you knowing you would refuse to believe it) so even though the top six is beyond them they aren't out of their minds believing that they are capable of being one of the best of the rest.
For that reason I think they are under pressure to buy squad replacements that will keep them up.
Maybe all the local businesses that got bent over when they went into administration can be paid back now then?
This has popped up a few times on this messageboard and I wonder where it's come from. Saints were lucky enough to be taken over by a wealthy man who was prepared to bankroll the push back to the Premier League but it didn't come at the expense of any creditor. Southampton Football Club Ltd paid back every single penny that the club owed the bank and creditors.
You don't have to take my word for it. For a club to come out of admin, they either need to agree a CVA with its creditors to only pay a part of the sums owed (like Portsmouth's 0.4p in the pound), suffer a further points deduction (like Leeds and Bournemouth) or pay back everything. There wasn't a CVA, nor was there a points deduction so there was no local businesses or charities that suffered any loss.
Except that is not the whole picture is it?! To facilitate the sale of the club Aviva (formerly Norwich Union) wrote off a large sum on the outstanding mortgage...just as Palace prospective owners cut a deal with HBOS to pick up Selhurst at a major discount... Whereas we are still paying off a mortgage on part of our ground at £1m a year. Palace and Southampton have new owners AND a lack of legacy debts to thank for their rise while other clubs soldier on with debts of £30-40M Edit: just looked it up and Southampton had £30m of debts when they fell over and yet were acquired in a deal for £15m...suggesting someone took a hit of £15m!
Except that is not the whole picture is it?! To facilitate the sale of the club Aviva (formerly Norwich Union) wrote off a large sum on the outstanding mortgage...just as Palace prospective owners cut a deal with HBOS to pick up Selhurst at a major discount... Whereas we are still paying off a mortgage on part of our ground at £1m a year. Palace and Southampton have new owners AND a lack of legacy debts to thank for their rise while other clubs soldier on with debts of £30-40M Edit: just looked it up and Southampton had £30m of debts when they fell over and yet were acquired in a deal for £15m...suggesting someone took a hit of £15m!
Seriously, Southampton paid every penny. Southampton had debts of £27.5m, which was a Barclays Bank overdraft of £4.4m and other creditors of £23.1m. The majority of the debt was the mortgage on the stadium to Aviva that had 12 years left to run. Liebherr paid most of it off in one go and got a discount (just like if you paid off your mortgage now, you would pay less than you would do if you carried on paying in installments) on that with the rest of the payment (about £5m) becoming due if Southampton reached the Premier League within five years which we did and so Aviva was paid in full. No-one took a hit of £15m. No-one took a hit of anything.
Comments
That's some going in the 4(?) years since administration.
If you add the likes of Bale,Oxlade,Walcott who have been sold for big money over the past few years, thats quite some academy they have there.
Katharina Liebherr's open letter to Saints' supporters
(Wed 22 Jan 2014)
Having inherited Southampton Football Club following my father’s untimely passing, I am delighted and proud of the exhilarating period of success that the team and the staff has enjoyed these past few years, buoyed by the unstinting support of the fans.
I am absolutely committed to ensuring that the club continues this success. I have met our manager Mauricio Pochettino and have given him my complete support to build on the good work that has already been achieved. We have also said that we have no plans to sell any of the squad during the January transfer window. Yesterday I met the rest of the staff and gave them the same message of support.
We are now in the top half one of the most competitive leagues in the world, playing attractive football with a young and ambitious team, and poised to move into world-class training facilities. We have much to be thankful for. I am particularly excited that the Southampton tradition of nurturing and providing young talent with first team opportunities is set to flourish with the strong academy foundation we have put in place.
Off the pitch, my priority is to establish the proper running of the club at the top. I also have a strong team of advisers around me as we plan the way forwards. As soon as we have more news to share, we will do so.
We are looking to the future with a determination to create a culture based on open communication, respect and hard work.
Finally, let me say this. I will ensure that all decisions made about the future of the club will be in the best interests of its staff, players, management and fans and will be taken with the prime objective of honouring and maintaining the club's heritage and tradition in the Southampton way.
Katharina Liebherr
Don't think the 200 million debt figure is correct.
Debt on the books appears to be in the region of 25 million with a further similar figure due in relation to payments to be made on transfers.
You don't have to take my word for it. For a club to come out of admin, they either need to agree a CVA with its creditors to only pay a part of the sums owed (like Portsmouth's 0.4p in the pound), suffer a further points deduction (like Leeds and Bournemouth) or pay back everything. There wasn't a CVA, nor was there a points deduction so there was no local businesses or charities that suffered any loss.
Good read and agree with all of it.
And I do feel some sympathy for Saints fans. That is a serious dismantling job. Christ, we still have long debates about what might have been had Parker stayed!!
At this rate, Southampton will have even less players than Blackpool.
The article refers to the owner & Chairman's naivety, yet, says it's almost fait accompli with FFP.
If it's fait accompli, then I can't see how their naivety or otherwise would make much difference.
Hear hear to a European super league. bring it on and good riddance to them. Their Malaysian and Korean fans will absolutely love it but the relative handful who we'd recognise as proper supporters will suffer with the cost of away games LOL.
Given that they're unlikely to be in any way a consistent top six club, the policy of cashing in seems to make sense, and it does not seem a million miles away from Roland's plans for us.
For that reason I think they are under pressure to buy squad replacements that will keep them up.
See, I said I didn't disagree with you.
To facilitate the sale of the club Aviva (formerly Norwich Union) wrote off a large sum on the outstanding mortgage...just as Palace prospective owners cut a deal with HBOS to pick up Selhurst at a major discount... Whereas we are still paying off a mortgage on part of our ground at £1m a year. Palace and Southampton have new owners AND a lack of legacy debts to thank for their rise while other clubs soldier on with debts of £30-40M
Edit: just looked it up and Southampton had £30m of debts when they fell over and yet were acquired in a deal for £15m...suggesting someone took a hit of £15m!