The9 Posted 22 July, 2011 Share Posted 22 July, 2011 http://www.dailyecho.co.uk/news/district/southampton/9100617.Saints_director_paid_600k/?ref=fbrec Does exactly what it says on the tin. Probably worth noting that the article indicates that at the time there were two directors, Liebherr and Cortese, and Markus wasn't thought to be taking a salary. I look forward to seeing the discussion of why it was wrong for Lowe to take money out of the club via share dividends, but it's ok that we're paying through the nose for every visit to the club whilst a director is getting that kind of sum for doing the job he's doing - the crux presumably being that he could earn it somewhere else in banking... Link to comment Share on other sites More sharing options...
Gemmel Posted 22 July, 2011 Share Posted 22 July, 2011 Completely different scenarios, and Lowe didn't take money out via share dividends per se - As a shareholder he would have received the dividends like any other share owner. I think loes highest ever salary was 450k when we were 8th in the prem. There were a lot that questioned that, but I think that was about the going rate and rewarded the success we had had that year. As to what Cortese earns, it's a non starter. We are a privately owned company and as such it was down to Markus to agree Cortese's package. These figures have been out for a while. Not sure what the Echo think is so news worthy. Link to comment Share on other sites More sharing options...
Pat from Poole Posted 22 July, 2011 Share Posted 22 July, 2011 http://www.dailyecho.co.uk/news/district/southampton/9100617.Saints_director_paid_600k/?ref=fbrec Does exactly what it says on the tin. Probably worth noting that the article indicates that at the time there were two directors, Liebherr and Cortese, and Markus wasn't thought to be taking a salary. I look forward to seeing the discussion of why it was wrong for Lowe to take money out of the club via share dividends, but it's ok that we're paying through the nose for every visit to the club whilst a director is getting that kind of sum for doing the job he's doing - the crux presumably being that he could earn it somewhere else in banking... Didn't this come to light some months ago when the 2010 accounts were first issued? Re the dividends, it is perhaps of some relevance that they can only legally be paid through distributable reserves, so if Saints hadn't been profitable (or more to the point, solvent) then Lowe (and all the thousands of shareholders at the time) wouldn't be able to be paid the dividends. My issue with Lowe was more the salary he was taking from the club on his second (part-time) spell with us, and also getting the club to pay his legal fees when he was suing people like Martin Samuel. Link to comment Share on other sites More sharing options...
Minsk Posted 22 July, 2011 Share Posted 22 July, 2011 If's, but's and assumptions..... and if anyone can't see the difference between a salary for a man running the club as NC does and share dividends then there really is no point in discussing such things with them. Link to comment Share on other sites More sharing options...
Pancake Posted 22 July, 2011 Share Posted 22 July, 2011 Man gets paid to do a job shocker! Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. Link to comment Share on other sites More sharing options...
benjii Posted 22 July, 2011 Share Posted 22 July, 2011 Presumably there was a large relocation element in his first year's pay? Which is fair enough. Link to comment Share on other sites More sharing options...
benjii Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. What bull. It is not "hypocrisy". Link to comment Share on other sites More sharing options...
Coastal Saint Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. Just think where Saints would be if he had stayed working as a banker!! Link to comment Share on other sites More sharing options...
Pat from Poole Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. The annual wage bill in those accounts was over £12 million, so we raised the bar big-time for a League 1 club all round, I'd suggest. Link to comment Share on other sites More sharing options...
Minsk Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. Ahhh, so this is just another piece of Cortese bashing. It had been a while since there was such a thread. Thanks for admitting that's all this thread was for. Link to comment Share on other sites More sharing options...
Pat from Poole Posted 22 July, 2011 Share Posted 22 July, 2011 Presumably there was a large relocation element in his first year's pay? Which is fair enough. I very much doubt there was. Link to comment Share on other sites More sharing options...
SaintBobby Posted 22 July, 2011 Share Posted 22 July, 2011 I'm appalled. I have to pay more for my season ticket and replica shirt and all so Cortese can have a salary, the greedy b*stard. Isn't he rich enough already? Link to comment Share on other sites More sharing options...
cadiz saint Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. If you don't like it, don't go!! Link to comment Share on other sites More sharing options...
Prince Jazzbo Posted 22 July, 2011 Share Posted 22 July, 2011 £600k is quite a bit lower than many other Chairman/Chief execs. I've recall others that were the £1m+ mark. Also, at the end of the day, part of his job is to maximise income. Remember his statement about ex players etc needing to generate more than they earn if they want to be paid ambassadors. Link to comment Share on other sites More sharing options...
saintjay77 Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. He's certainly not earning it in customer service or by nurturing the longer-term goodwill of the people who pay to see the club. It probably did first come out with the accounts, but it's the first time I've seen it in print. I think there are plenty of players doing far less work for the club that get paid more so it seems a reasonable amount to pay the chairman. If we were looking like getting relegated last year and the plan looked like it has in previous years I would not be happy however. NC trying to maximise the revenue is more to fund future success than to pay his wages IMO. Link to comment Share on other sites More sharing options...
Pat from Poole Posted 22 July, 2011 Share Posted 22 July, 2011 To quote everybody's favourite ex-Saints Web poster Stu Romsey Saint in a thread I was conversing with him last night on the Ugly site:- "Come on Pat, give the man some credit, the £650k is just the basic salary, it doesn't include the credit card bills, sunseeker, private schooling or rent on a Chilworth mansion ( or the extra costs incurred of changing curtains or laying laminate flooring ) . " Link to comment Share on other sites More sharing options...
sambosa75 Posted 22 July, 2011 Share Posted 22 July, 2011 I'd pay him double just for taking the club off the stock market, for saving us and giving us all hope for the future. Also consider the fact he was probably earning more than this managing the wealth of the likes of Herr Liebherr previously and I think it represents good value for money. Link to comment Share on other sites More sharing options...
1976_Child Posted 22 July, 2011 Share Posted 22 July, 2011 I run my own limited company. I am the only shareholder. If any of you tell me that you have the right to set how much I pay myself I'll punch you on the nose. End of discussion. Link to comment Share on other sites More sharing options...
Pat from Poole Posted 22 July, 2011 Share Posted 22 July, 2011 I run my own limited company. I am the only shareholder. If any of you tell me that you have the right to set how much I pay myself I'll punch you on the nose. End of discussion. Bet you don't say that to any of your customers, as if you did you'd soon be paying yourself the square root of farkall. Link to comment Share on other sites More sharing options...
Gemmel Posted 22 July, 2011 Share Posted 22 July, 2011 I'm more than aware that Saints can pay Cortese what he wants, it just seems like a massive piece of hypocrisy for him to be taking such a wad from the club whilst exploiting all these nice new ways to extort cash from fans in a recession. The long and short of it to me is if he can earn that as a banker, then he should be earning it as a banker. WTF.... where do you get off telling people what jobs they should or shouldn't be doing and how much they should earn. Link to comment Share on other sites More sharing options...
Saint_Ash Posted 22 July, 2011 Share Posted 22 July, 2011 Stupid thread. If Cortese continues to run this club as brilliantly and professionaly for some years to come and gets us in the Premiership and beyond then surely he's earned every penny. How much do other Chairmen of top clubs get paid? Considering some managers are on 10m a year I reckon 600k for one of the best Chairman in the country is a fair price. Link to comment Share on other sites More sharing options...
CanadaSaint Posted 22 July, 2011 Share Posted 22 July, 2011 Here we go again. People with small minds and perpetually negative attitudes would be the death of this club if they got any closer than a seat in the stands. Which, thank God, they won't. Link to comment Share on other sites More sharing options...
1976_Child Posted 22 July, 2011 Share Posted 22 July, 2011 Bet you don't say that to any of your customers, as if you did you'd soon be paying yourself the square root of farkall. Why do you assume I tell my customers how much I pay myself? What daft idiotic thinking is this! I tell my customers what I can do for them, they like what I have to offer, I tell them the price, they agree. I provide the service. They pay. How much money I draw out of the business is no one's business but mine! Honestly, some people are pathetic. Thinking it is any of their business how much the club pays its employees. It is our club, but their business. Link to comment Share on other sites More sharing options...
dronskisaint Posted 22 July, 2011 Share Posted 22 July, 2011 So you think you could find someone who introduces a billionaire investor, delivers a cup and promotion in the first two years and runs aclub with sustainable debt level that has a realistic chance of further promotion while building the academy from a good base to be one of the best for less??? Thought not...pathetic thread about a pathetic non-story...to which I've just contributed making me as bad! Link to comment Share on other sites More sharing options...
Pat from Poole Posted 22 July, 2011 Share Posted 22 July, 2011 Clearly, I didn't assume you would tell customers how much you would pay yourself. It was more that you wouldn't have the nerve to tell a customer you would punch them on the nose if they questioned your right to pay yourself whatever you wanted. Any sane businessman does not behave in such a moronic way if they intend to stay in business. Link to comment Share on other sites More sharing options...
OldNick Posted 22 July, 2011 Share Posted 22 July, 2011 I think he is underpaid, i expected him to be on more. The amount of time he spends travelling and then having to put up with us mug punters. Link to comment Share on other sites More sharing options...
Hedgehog Posted 22 July, 2011 Share Posted 22 July, 2011 But it would be okay if we were paying a player that sort of money? Can never understand why Managers and Chairmen can be paid a lot less than a player, in most areas of work the managers/chairman/ chief executive or what will be earning more than his employees. Link to comment Share on other sites More sharing options...
1976_Child Posted 22 July, 2011 Share Posted 22 July, 2011 Clearly, I didn't assume you would tell customers how much you would pay yourself. It was more that you wouldn't have the nerve to tell a customer you would punch them on the nose if they questioned your right to pay yourself whatever you wanted. Any sane businessman does not behave in such a moronic way if they intend to stay in business. Now you are trying to wriggle out of what you initially said! How funny! Your initial position was that as fans we have the right to tell the owner of the club how much he pays his directors. We don't. Don't try and change tack and pretend you were on about good client relations. It was clear what you meant. I reiterate: we are fans, we 'own' the club in an emotional way, in a heritage way and without us the club would not be but that does not mean we have any right to dictate how the club is run at the top level. Which includes directors salaries. Just because you shop at Tescos doesn't mean you can demand that the directors are paid what you want them paid. Only shareholders have that right. And none of us fans is a shareholder of SFC. Live with it. Link to comment Share on other sites More sharing options...
Chez Posted 22 July, 2011 Share Posted 22 July, 2011 Its his company, he can do what he wants. He has to earn a living.... actually it's not. It's the Leibherr's company. Oh and while we are at it, it was Marcus' money that saved us not Cortese. He hasn't put a penny in. Link to comment Share on other sites More sharing options...
Chez Posted 22 July, 2011 Share Posted 22 July, 2011 (edited) £600k is quite a bit lower than many other Chairman/Chief execs. I've recall others that were the £1m+ mark. Really, such as who? By the way I recall that the accounts do not determine whether that £600,000 is for six months of wage or twelve. Edited 22 July, 2011 by Chez Link to comment Share on other sites More sharing options...
trousers Posted 22 July, 2011 Share Posted 22 July, 2011 Sigh Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 What bull. It is not "hypocrisy". "You pay more as it'll benefit the club, but I'll take more out for my own benefit" sounds like hypocrisy to me. Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 Just think where Saints would be if he had stayed working as a banker!! Yes, we get it, he helped save the club. That shouldn't guarantee the kind unquestioning acceptance of all business decisions some people think it does. Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 Ahhh, so this is just another piece of Cortese bashing. It had been a while since there was such a thread. Thanks for admitting that's all this thread was for. It is a perfectly justifiable thread questioning what our Chairman has done to deserve a (minimum) £600k salary for getting us to 7th in League One at the time, and suggesting that that kind of money should be reserved for someone who is able to raise revenues and achieve success without alienating chunks of the fanbase, who are the source of the longer term incomes of the club. As a banker, I'd guess he wasn't really into the customer service side of things and generally sees things in terms of revenue in and out. He sure as hell doesn't know anything about marketing to fans, as the attendance this weekend for what after all is the first home appearance of the promotion-winning team in 2 months will prove. Link to comment Share on other sites More sharing options...
funkymojo44 Posted 22 July, 2011 Share Posted 22 July, 2011 As an aside i thought the official site news item that referred to Cortese as saving the club was a bit, well wrong. Yes Markus was the savior of course and its right to refer to him as so. But Cortese? Well tbf if i was him and still working at the club i would feel uncomfortable being referred in the same light as Markus, especially as the tournament the story was about is for Markus. I could be oversensitive about this but no i wouldn't want my name referred to saving the club that strongly. I can imagine if things start to sour with Cortese and the fans, and the OS still referring to him as some exalted savior. Link to comment Share on other sites More sharing options...
once_bitterne Posted 22 July, 2011 Share Posted 22 July, 2011 The difference would be that Lowe's wages were coming from income that the football club produced. Cortese's wages are paid for by the Liebherr family. Link to comment Share on other sites More sharing options...
hutch Posted 22 July, 2011 Share Posted 22 July, 2011 If we are prepared to double it, we could go for Pete the Legend from down the road. Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 As an aside i thought the official site news item that referred to Cortese as saving the club was a bit, well wrong. Yes Markus was the savior of course and its right to refer to him as so. But Cortese? Well tbf if i was him and still working at the club i would feel uncomfortable being referred in the same light as Markus, especially as the tournament the story was about is for Markus. I could be oversensitive about this but no i wouldn't want my name referred to saving the club that strongly. I can imagine if things start to sour with Cortese and the fans, and the OS still referring to him as some exalted savior. "IF" ? You should try standing in a queue of season ticket renewers for 30 minutes and listen to all the good things they didn't have to say about the whole process. There is a lot of what is currently just grumbling, but he's already made the mistake of p155ing off the 60-64s, many of whom are long term customers with a certain expectation of how things are going to be. There is no communication, no management of expectations and a lot of what appears to be penny-pinching. I'm glad of our recent success, I've got an ST, I'm hopeful we're going to finish in the top half if not the play-offs this season, and I' m glad of the players we've been able to bring in since the summer of 2009 but I don't like the way things are going other than that, or the idea that we have this never-ending debt of gratitude that should be pointed to every time there's something a lot of fans don't like. Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 22 July, 2011 Share Posted 22 July, 2011 I could not give less of a toss to be fair Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 The difference would be that Lowe's wages were coming from income that the football club produced. Cortese's wages are paid for by the Liebherr family. Is it unreasonable then to expect the same Liebherr largesse to be extended to the playing staff with a view to regaining Premier League status ? I'm not saying it's the only, or necessarily the best way to go, but there's no belief that we've got a superior squad in the Championship the way we did in League One, is there ? Link to comment Share on other sites More sharing options...
Minsk Posted 22 July, 2011 Share Posted 22 July, 2011 It is a perfectly justifiable thread questioning what our Chairman has done to deserve a (minimum) £600k salary for getting us to 7th in League One at the time, and suggesting that that kind of money should be reserved for someone who is able to raise revenues and achieve success without alienating chunks of the fanbase, who are the source of the longer term incomes of the club. As a banker, I'd guess he wasn't really into the customer service side of things and generally sees things in terms of revenue in and out. He sure as hell doesn't know anything about marketing to fans, as the attendance this weekend for what after all is the first home appearance of the promotion-winning team in 2 months will prove. It's not a MINMUM £600k salary, as the actual amount was less than £600k (only just, I admit). you started this thread for one reason only, as a Cortese bashing exercise - as you more or less confirmed in an earlier post. So, away you go, I hope you have fun in doing so............... Link to comment Share on other sites More sharing options...
Chez Posted 22 July, 2011 Share Posted 22 July, 2011 It is a perfectly justifiable thread questioning what our Chairman has done to deserve a (minimum) £600k salary for getting us to 7th in League One at the time, and suggesting that that kind of money should be reserved for someone who is able to raise revenues and achieve success without alienating chunks of the fanbase, who are the source of the longer term incomes of the club. As a banker, I'd guess he wasn't really into the customer service side of things and generally sees things in terms of revenue in and out. He sure as hell doesn't know anything about marketing to fans, as the attendance this weekend for what after all is the first home appearance of the promotion-winning team in 2 months will prove. sorry The9, but you are not allowed to say anything negative about Cortese, ever. Everything he has and will do is correct. Given time, and for some that time seems to already have come, it will be Cortese that saved us and not Marcus. Link to comment Share on other sites More sharing options...
Avenue Saint Posted 22 July, 2011 Share Posted 22 July, 2011 sorry The9, but you are not allowed to say anything negative about Cortese, ever. Everything he has and will do is correct. Given time, and for some that time seems to already have come, it will be Cortese that saved us and not Marcus. Scandalous! For what he's doing at saints, I'd stick a mil before that. Cortese's & Adkins red n White army! Link to comment Share on other sites More sharing options...
capitalsaint Posted 22 July, 2011 Share Posted 22 July, 2011 Is anybody really concerned that the chap running our club is earning £11,500 a week, which is probably less than quite a few of the players? Personally don't see anything particularly wrong with that. Link to comment Share on other sites More sharing options...
JRM Posted 22 July, 2011 Share Posted 22 July, 2011 you lot crack me up, on one thread justifying the high costs of saints as "you've got to pay for it if you want premier league football" and on this one justifying Cortese's sky high wage, he puts nearly all his expenses through the club including his wife's manicures so all that cash is sitting nicely in the bank. One of the reasons i can't be bothered with it anymore and haven't renewed my season ticket, football fans treated like mugs and roll over happy to keep paying out whatever it costs Link to comment Share on other sites More sharing options...
gaz Posted 22 July, 2011 Share Posted 22 July, 2011 Its a business. A sucessful business. We're the customers buying a product. At the end of the day, they can pay themselves whatever we like, we have no right to say what that should and shouldn't be. The is Saintsweb, a fan site the same way that the Ford Focus Owners site (or whatever) have no say in how much Ford pay their executives. Deal with it. Link to comment Share on other sites More sharing options...
JRM Posted 22 July, 2011 Share Posted 22 July, 2011 Is anybody really concerned that the chap running our club is earning £11,500 a week, which is probably less than quite a few of the players? Personally don't see anything particularly wrong with that. i agree it is just as bad as the players, f*cking mental £11,500 a week running a 3rd division football club. Link to comment Share on other sites More sharing options...
The9 Posted 22 July, 2011 Author Share Posted 22 July, 2011 It's not a MINMUM £600k salary, as the actual amount was less than £600k (only just, I admit). you started this thread for one reason only, as a Cortese bashing exercise - as you more or less confirmed in an earlier post. So, away you go, I hope you have fun in doing so............... sorry The9, but you are not allowed to say anything negative about Cortese, ever. Everything he has and will do is correct. Given time, and for some that time seems to already have come, it will be Cortese that saved us and not Marcus. Well, this just about covers it for me. And for the record I've already clarified what my reason for posting it was. Re: "minimum", there was some mention earlier in the thread that the £600k was not necessarily for the full year, that's what I was referring to. I'm not really sure how anyone can look at our squad and think the same degree of generosity has been afforded to the fans in as has been afforded to Cortese's salary. Maybe we'll have to see what his 2010/11 take home was in line with Saints' reduced expenditure on players and all these additional fees and inconvenient processes. Some of that money might have helped keep David Luker at the TO, so we avoided the disaster that is the ST ticket postage, which could potentially cost the club tens of thousands in match day revenue if not handled correctly ? Not that Luker wasn't already sidelined out of TO operations, of course... Link to comment Share on other sites More sharing options...
ant Posted 22 July, 2011 Share Posted 22 July, 2011 (edited) As an aside i thought the official site news item that referred to Cortese as saving the club was a bit, well wrong. Yes Markus was the savior of course and its right to refer to him as so. But Cortese? Well tbf if i was him and still working at the club i would feel uncomfortable being referred in the same light as Markus, especially as the tournament the story was about is for Markus. I could be oversensitive about this but no i wouldn't want my name referred to saving the club that strongly. Interesting that, as I distinctly remember reading (around the time of the takeover) that Nicola not only courted Markus into buying Saints but did most of the legwork. Mr Liebherr (RIP) essentially provided the resources to do so but evidently fell in love with the club very quickly. We're nearly on an even keel again; is it really time to start rocking the boat? It's a privately-owned company - we, as the fans, can only really influence what money we put into it. Edited 22 July, 2011 by ant Link to comment Share on other sites More sharing options...
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