Huffton Posted 17 January, 2014 Share Posted 17 January, 2014 This for me is the big question. Is the company profitable? This will be what Ms Liebherr really wants to know and will decide what she does with it IMO. She's clearly no mug business wise or she wouldn't be in the position she's in. So, with a rational business head on, if yo owned a company that was making you a profit, would you sell it? Link to comment Share on other sites More sharing options...
aintforever Posted 17 January, 2014 Share Posted 17 January, 2014 Seriously doubt it. If clubs our size can blow £30mill+ on players each summer and still make a profit I think they all would be doing it. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 17 January, 2014 Share Posted 17 January, 2014 This for me is the big question. Is the company profitable? This will be what Ms Liebherr really wants to know and will decide what she does with it IMO. She's clearly no mug business wise or she wouldn't be in the position she's in. So, with a rational business head on, if yo owned a company that was making you a profit, would you sell it? didn't we make about 900K profit last season...or was that just a figure someone made up to support some hypothesis or other? If we spent 30 million last season and still made 900K then I can't see us making any less this season as we'll get more Sky money. Link to comment Share on other sites More sharing options...
norwaysaint Posted 17 January, 2014 Share Posted 17 January, 2014 She's clearly no mug business wise or she wouldn't be in the position she's in. Have I missed a few details? has she been a business success in her own right as well as inheriting her dad's fortune? I wouldn't be any the wiser if she was hopeless financially and is slowly frittering away ML's fortune, or if she was carefully increasing her wealth with shrewd financial decisions. Out of interest what have you seen that makes you say "clearly"? Link to comment Share on other sites More sharing options...
aintforever Posted 17 January, 2014 Share Posted 17 January, 2014 didn't we make about 900K profit last season...or was that just a figure someone made up to support some hypothesis or other? If we spent 30 million last season and still made 900K then I can't see us making any less this season as we'll get more Sky money. Didn't we take out some loan from the British Virgin Isles? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 17 January, 2014 Share Posted 17 January, 2014 Didn't we take out some loan from the British Virgin Isles? Yes but some argued it was to gain some tax advantage or other. Personally I have no idea, I'm just quoting a figure that I saw in one of the many threads started yesterday. Link to comment Share on other sites More sharing options...
Saint Charlie Posted 17 January, 2014 Share Posted 17 January, 2014 Football clubs, even the biggest, are rarely profitable. The money is made from buying at the right (low) price, improving the club and selling for a higher price. Which is what she will do. Link to comment Share on other sites More sharing options...
Huffton Posted 17 January, 2014 Author Share Posted 17 January, 2014 Have I missed a few details? has she been a business success in her own right as well as inheriting her dad's fortune? I wouldn't be any the wiser if she was hopeless financially and is slowly frittering away ML's fortune, or if she was carefully increasing her wealth with shrewd financial decisions. Out of interest what have you seen that makes you say "clearly"? The fact that her Father, quite clearly a great business man, left her in charge rather than any number of other family members. Just a hunch he had faith in her abilities... Link to comment Share on other sites More sharing options...
Window Cleaner Posted 17 January, 2014 Share Posted 17 January, 2014 The fact that her Father, quite clearly a great business man, left her in charge rather than any number of other family members. Just a hunch he had faith in her abilities... what other family members ? there are just the 2 girls as far as I know and one seems to be a horsey type with no interest in business whatsoever. I think the fact that Cortese was still running everythng for over 3 years after Markus's death tells another story. You need to comprehend that the rest of the Liebherr family have nothing to do with this branch...nothing whatsoever. Link to comment Share on other sites More sharing options...
norwaysaint Posted 17 January, 2014 Share Posted 17 January, 2014 She's seems to have had such a full and rich business career that almost her entire internet presence is related to her involvement with Saints. You would have thought if she'd had any impact on the world of business at all then it would've been mentioned here or there. Link to comment Share on other sites More sharing options...
sfc1976 Posted 17 January, 2014 Share Posted 17 January, 2014 From the Guardian today: After his death at the age of 62 in August 2010 and the subsequent inheritance of Mali Holdings by Katharina, she decided to make 31 employees redundant and has since been accused of failing to set a new direction for the company. The Swiss newspaper Der Bund said that while Mali initially said that Katharina would continue her father's work, "it has become increasingly clear in recent months that Mali can't sort out the successorship". One employee at Wifag was quoted saying: "With the death of the patron, the chicken has lost its head. For a while it continued wandering around without a sense of direction, then it bled to death." Link to comment Share on other sites More sharing options...
Saint86 Posted 17 January, 2014 Share Posted 17 January, 2014 From the Guardian today: After his death at the age of 62 in August 2010 and the subsequent inheritance of Mali Holdings by Katharina, she decided to make 31 employees redundant and has since been accused of failing to set a new direction for the company. The Swiss newspaper Der Bund said that while Mali initially said that Katharina would continue her father's work, "it has become increasingly clear in recent months that Mali can't sort out the successorship". One employee at Wifag was quoted saying: "With the death of the patron, the chicken has lost its head. For a while it continued wandering around without a sense of direction, then it bled to death." Link to comment Share on other sites More sharing options...
norwaysaint Posted 17 January, 2014 Share Posted 17 January, 2014 From the Guardian today: After his death at the age of 62 in August 2010 and the subsequent inheritance of Mali Holdings by Katharina, she decided to make 31 employees redundant and has since been accused of failing to set a new direction for the company. The Swiss newspaper Der Bund said that while Mali initially said that Katharina would continue her father's work, "it has become increasingly clear in recent months that Mali can't sort out the successorship". One employee at Wifag was quoted saying: "With the death of the patron, the chicken has lost its head. For a while it continued wandering around without a sense of direction, then it bled to death." Oh dear. Has that article been widely circulated on the other threads? I'm surprised it hasn't been given a thread of it's own. I hadn't seen it before and that's not happy reading, but of course isn't a wide sample group of opinion. They make it sound like she's a bit clueless and ineffective there don't they? Link to comment Share on other sites More sharing options...
CB Fry Posted 17 January, 2014 Share Posted 17 January, 2014 It is true that Cortese hadn't run a whelk stall before he took over Saints, right? Link to comment Share on other sites More sharing options...
sfc1976 Posted 17 January, 2014 Share Posted 17 January, 2014 Apologies, didn't check through all the threads first, here's the link. http://www.theguardian.com/football/2014/jan/16/katharina-liebherr-southampton-football-owner-german-markus Link to comment Share on other sites More sharing options...
Matthew Le God Posted 17 January, 2014 Share Posted 17 January, 2014 [h=2]Is SFC Turning a Profit?[/h] The latest accounts show... The club announced a £900,000 profit for the final six months of 2012 http://www.bbc.co.uk/sport/0/football/21712482 We won't know the full details of the rest of the 2012/13 accounts until slightly later into 2014. Link to comment Share on other sites More sharing options...
saint si Posted 17 January, 2014 Share Posted 17 January, 2014 Profit very difficult to truly assess for a football club as one of it's most valuable assets is completely impossible to value unless sold. What were the players worth last season? What are they worth now? What goes on the accounts is only what they were bought/sold for (IIRC) so if (for example) Luke's market value has gone from £5m to £30m, then that £25m of profit won't appear anywhere... Link to comment Share on other sites More sharing options...
stevegrant Posted 17 January, 2014 Share Posted 17 January, 2014 Profit very difficult to truly assess for a football club as one of it's most valuable assets is completely impossible to value unless sold. That's nothing to do with profit, that's to do with the balance sheet. Completely different. The only thing that complicates the profit and loss account slightly is transfer fees paid, as they are spread equally over the duration of the player's contract regardless of what payment terms the club has agreed with the selling club. For example, if we signed someone for £10m on a 4-year contract, the "cost" of that signing (listed as "amortisation of player contracts" in the accounts) will be £2.5m per year, so even though we spent £10m, only a portion of that is accounted for initially. Link to comment Share on other sites More sharing options...
Glasgow_Saint Posted 17 January, 2014 Share Posted 17 January, 2014 We are saving £2m a year after Nicola left Link to comment Share on other sites More sharing options...
Huffton Posted 17 January, 2014 Author Share Posted 17 January, 2014 From the Guardian today: After his death at the age of 62 in August 2010 and the subsequent inheritance of Mali Holdings by Katharina, she decided to make 31 employees redundant and has since been accused of failing to set a new direction for the company. The Swiss newspaper Der Bund said that while Mali initially said that Katharina would continue her father's work, "it has become increasingly clear in recent months that Mali can't sort out the successorship". One employee at Wifag was quoted saying: "With the death of the patron, the chicken has lost its head. For a while it continued wandering around without a sense of direction, then it bled to death." Oh well, thats it then. Were clearly ****ed again. Because one disgruntled ex-employee says so. Never mind, it was fun while it lasted... Link to comment Share on other sites More sharing options...
DuncanRG Posted 17 January, 2014 Share Posted 17 January, 2014 (edited) It should be pointed out that Markus 'only inherited' his father's fortune. Hans Liebherr made the business what it was. Edited 17 January, 2014 by DuncanRG Link to comment Share on other sites More sharing options...
Window Cleaner Posted 17 January, 2014 Share Posted 17 January, 2014 It should be pointed out that Markus 'only inherited' his father's fortune. Hans Liebherr made the business what it was. and then he gave most of his share back to his brothers and sister and started his own companies, most of which are now in liquidation...why that is no-one seems to be able to tell us. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 17 January, 2014 Share Posted 17 January, 2014 and then he gave most of his share back to his brothers and sister and started his own companies, most of which are now in liquidation...why that is no-one seems to be able to tell us. Because Markus is no longer with us? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 17 January, 2014 Share Posted 17 January, 2014 Because Markus is no longer with us? well yes but people have died before and their businesses have continued to run on unchanged, I thought Mme Katerina had undertaken to do that but up until last summer Cortese was still running the entire show with a Swiss Liquidator. Now all is gone apart from the holding company. Link to comment Share on other sites More sharing options...
Chez Posted 17 January, 2014 Share Posted 17 January, 2014 We are saving £2m a year after Nicola left That figure sOunds a fraction on the high side. If it is accurate, it makes me think about when Lowe was slated left right and centre for earning less than £400,000. KL could do a lot worse than trying to steal Hew Jenkins from Swansea, who was earning £200,000 a year a while back. Link to comment Share on other sites More sharing options...
Hokie Posted 17 January, 2014 Share Posted 17 January, 2014 I think the question in the OP is poorly posed. If KL is only interested in SFC for its financial value, then the question isn't, "Is it profitable," but rather, "How does this investment compare to another?" I'd estimate she would see £100-£150m if she sold the club, based on Fulham's sale price. (Yes, the actual number is ripe for argument, but go with it.) I'd expect she'd look for £10-20m per annum return outside football for that chunk of cash. Obviously loose numbers, but it seems clear to me that if she's not interested in football, she is selling the club. Link to comment Share on other sites More sharing options...
Turkish Posted 17 January, 2014 Share Posted 17 January, 2014 We are saving £2m a year after Nicola left Don't forget a reduced legal bill and out of court settlements. Higher staff retention so fewer agency/headhunter fees and garden leave payments, probably nearer £4m, the wages of a couple of marque signings from Serie A. Link to comment Share on other sites More sharing options...
John Boy Saint Posted 17 January, 2014 Share Posted 17 January, 2014 £3b or even £1.5b shared with her Sister is an awful lot of money and it snowballs faster than most folks can spend it at that level. What's to say the world of engineering just isn't her bag so if that has vanished maybe a Footie team might be a bit of a giggle stick a decent person at the helm and chip off a bit of excess with the bank account. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now