BroadstairsR
Member
Ronald Koerman in his office, "There are some nice pictures on the wall. We might have to sell them."
Apparently Southampton entered the summer having to make repayments of £22m on outstanding transfer fees and with costs relating to the redevelopment of the training ground having risen from £15m to more than £30m. Liebherr has converted £33m of the club’s loans into equity.
So perhaps the 'Southampton Model' is not so perfect after all.
It does seem that they were in such a position of financial imprudence whereby they were actually obliged, if not forced, to sell off their talent.
Their wages bill must have been quite immense as they will have had a very big cut from last season's successful PL participation. We got £60m+ after all.
Perhaps the 'Southampton Model' is not that perfect after all.
Debt, sooner or later, one way or another will bring all clubs to their knees and I now suspect the Saints to be firmly amongst the also-rans next season.
We must never under-estimated the position of strength that NCFC currently occupies due to it's lack of indebtedness.
Let us now hope that this transfers it's self into an improved status.
We might even pass the Saints on their way down.
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