Southampton Football Club's accounts for the year ending June 2018 are released

[SuperSAINT]

https://www.dailyecho.co.uk/news/17475320.southampton-football-clubs-accounts-for-the-year-ending-june-2018-are-released/

[Greenridge]

No real surprises in there. No Europa football and lower league position equals reduced revenue over the prior season.

[SuperSAINT]

No real surprises in there. No Europa football and lower league position equals reduced revenue over the prior season.

 

Some good stuff in there for the "where has all the money gone?" people to read.

 

Simple stuff like J-Rod's fee being seen as largely "all profit" because he'd been with us so long.

 

People forget that if we sell Hoedt or Boufal it isn't necessarily money we make - we still have to pay for large chunks of their original fees.

[Pilchards]

The highest paid director, assumed, though unconfirmed, to be chairman Ralph Krueger, had a £30,000 pay rise to earn £636,000.

 

So we reward a £30,000 bonus for a disastrous season?

[SuperSAINT]

Do these figures include wages for summer signings of Ings / Vest / Moi / Gunn / Armstrong ?

[tajjuk]

All understandable, loss of earnings due the poor league position, everything down basically because we were crap (match day income, corporate income, prize money, no europa league money or extra games etc, lower prize money)

 

As is all the postponement of works on the training ground and stadium, because we might go down.

 

Shows the club is being run as we know it is, as a sustainable business.

[Doctoroncall]

 

Shows the club is being run as we know it is, as a sustainable business.

 

Which would be fine without Kat’s finding a new owner to take the club to the next level bollôcks.

[spyinthesky]

I thought Ralph Kreuger's task was to increase commercial revenue.

 

Seems like he has not done too well with this but has been given a decent uplift to his already decent salary.

[doddisalegend]

I'm I reading that right that we owe more to other clubs for players we've bought than we are owed for players we've sold to the tune of 12 million plus another 18million for Ings in the summer?

 

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[100%Red&White]

I thought Ralph Kreuger's task was to increase commercial revenue.

 

Seems like he has not done too well with this but has been given a decent uplift to his already decent salary.

 

I'd call his reported £600k+ salary astronomical rather than decent and isn't his role kind of part-time?

[benjii]

That’s probably Les’ salary? He was a director for that period?

 

You’d expect Les to be on something like that, wouldn’t you?

 

i haven’t opened the link yet, just going on what I’ve read above.

[Wurzel]

That’s probably Les’ salary? He was a director for that period?

 

You’d expect Les to be on something like that, wouldn’t you?

 

i haven’t opened the link yet, just going on what I’ve read above.

 

Thought exactly that as well. Can't see RK has enough input into the club to warrant that sort of figure. Far more likely to have been LR.

[Greenridge]

I'm I reading that right that we owe more to other clubs for players we've bought than we are owed for players we've sold to the tune of 12 million plus another 18million for Ings in the summer?

 

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Staged payments I assume. Common practice. I guess it depends on the timing and how the payments were agreed both incoming and outgoing and the respective timing. Other than Tadic we haven't really sold anyone of significant value since Jan 18 but we have purchased players so I guess that explains our situation. Maybe we've received most or all of the VvD monies?

[VectisSaint]

I'm I reading that right that we owe more to other clubs for players we've bought than we are owed for players we've sold to the tune of 12 million plus another 18million for Ings in the summer?

 

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Just reflects that most of our sales we have been paid most of the fee up front, whereas purchases have been more in the way of staged payments. Good way of doing business really, if it wasn't for the fact that most of our purchases have been duds. I would be concerned if it was the other way round.

[spyinthesky]

£68.9m net for VVD and Jay Rod

 

So presumably a reported £75m + £10m less payment to Celtic and Agents Fees amounting to £16.1m?

 

Also the salaries paid to our players (and Prem clubs generally) is put in to sharp contrast when one of the Sunday papers reckoned that the top wage earner at Aberdeen, in the Scottish Prem, is £2,500 per week.

 

I reckon a few of our youngsters get more than that.

[SaintsLoyal]

Its the accounts from last year to this March, which will be the ones to really look at.

[SuperSAINT]

Its the accounts from last year to this March, which will be the ones to really look at.

 

Agree & for various reasons. I think it will make it clear why we're so desperate to shift people.

 

If these accounts include VvD & J-Rod sales, then since then we've only actually Tadic leaving as a source of transfer income. (Gardos / Pied / Taylor all got released on free's).

 

Wages to turnover seem pretty high already at 74% -- They will likely go way higher once the ''Gunn / Vest / Moi / Armstrong / Ings'' wages go on top of that.

Edited 6 March, 2019 by SuperSAINT

[Saint Garrett]

Its the accounts from last year to this March, which will be the ones to really look at.

 

It's always the way though, we all said the same thing when the last lot were announced. Problem is it's not far off a year later that they're released and generally so much changes in that time, it becomes irrelevant.

[Saints foreva]

@AdamBlackmore

2/2

#saintsfc MD Toby Steele told me they will continue to be self-sustaining and there is no injection of fresh capital expected from the owner

 

He also insists they don’t need to sell a big player every year to keep the business healthy

 

As always, PL survival is tantamount

 

We're just going to be in a queue for relegation under Gao's ownership, if it doesn't happen this year then a year on year struggle until it does.

[hypochondriac]

We're just going to be in a queue for relegation under Gao's ownership, if it doesn't happen this year then a year on year struggle until it does.

Yep. With this owner we will go down over the next five years.

[SKD]

All understandable, loss of earnings due the poor league position, everything down basically because we were crap (match day income, corporate income, prize money, no europa league money or extra games etc, lower prize money)

 

As is all the postponement of works on the training ground and stadium, because we might go down.

 

Shows the club is being run as we know it is, as a sustainable business.

 

Until we go down, which we will under these clowns.

 

Also doesn’t explain why other clubs who will have a similar if not smaller income can massively outspend us on wages and transfer fees.. I.e Bournemouth.

 

We do not have a sustainable business model at all. Imo we’re sleep walking into Lower championship /L1.

 

I’m done with the club anyway. They aren’t gonna get a penny more of my money until I see some real ambition to improve the club.

[Raging Bull]

Until we go down, which we will under these clowns.

 

Also doesn’t explain why other clubs who will have a similar if not smaller income can massively outspend us on wages and transfer fees.. I.e Bournemouth.

 

We do not have a sustainable business model at all. Imo we’re sleep walking into Lower championship /L1.

 

I’m done with the club anyway. They aren’t gonna get a penny more of my money until I see some real ambition to improve the club.

 

You know I used to think people who had this opinion weren’t proper fans just a few years ago.

 

However a few of us cancelled our season tickets a couple of seasons back after having them for a long time, because it’s dire and we can’t muster the enthusiasm anymore so I completely agree with you.

 

I personally have spent thousands following my club around and we’ve been completely mugged by KL, she’s well and truly f****d us up the wrongun.

 

The clown that sadly owns us couldn’t give a flying 1 and we will go down at some point, and as for Steele saying we don’t need to sell any big name players anymore, well that’s horse s**t isn’t it, there isn’t anyone f*****g decent left worth big money you bulb!

[GGalpin]

Overall, the club is in a fairly similar position to the pre-takeover state of affairs, running as self-sustaining business with profits reinvested.

 

What exactly are we getting from this guy?

[Mr Saints]

£68.9m net for VVD and Jay Rod

 

So presumably a reported £75m + £10m less payment to Celtic and Agents Fees amounting to £16.1m?

 

Also the salaries paid to our players (and Prem clubs generally) is put in to sharp contrast when one of the Sunday papers reckoned that the top wage earner at Aberdeen, in the Scottish Prem, is £2,500 per week.

 

I reckon a few of our youngsters get more than that.

 

Obafemi is on 20k a week.

[Turkish]

seeing as how our accounts say nothing has changed, still self sustainable and there will be no injection of funds is it fair to say that Kathrinas statement on selling that Gao would take us to the next level was at best misleading then?

[scotty]

seeing as how our accounts say nothing has changed, still self sustainable and there will be no injection of funds is it fair to say that Kathrinas statement on selling that Gao would take us to the next level was at best misleading then?

 

Not at all. She didn't say which direction the next level would be.

[hypochondriac]

What exactly are we getting from this guy?

So the takeover was entirely pointless from our point of view then. Thanks Kat.

[Fan The Flames]

Or in what timescale

[doddisalegend]

So the takeover was entirely pointless from our point of view then. Thanks Kat.

 

That was obvious from the moment the take over first came to light most of Kats inheritance was tied up in SFC she was looking to turn it into actual cash that is all the take over was ever about. Having said that was Kat pouring in loads of money during our best days under Koeman? I doubt she was. Of course the cash is important but personally the last few years seem more down to poor recruitment decisions than lack of investment had the clowns at board level had more money to spend they would have probably just wasted it anyway.

[alehouseboys]

Maybe a very simple question should be put to Mr Gao "exactly why did you buy SFC?"

[suewhistle]

I briefly looked at The Echo article. One thing I noted was the MD admitting that the wage bill was too high for the league position. Commendable honesty and hopefully they'll be taking steps to remedy the situation. To be honest, with the use of the kids looks like they already have.

[eelpie]

https://www.dailyecho.co.uk/news/17475320.southampton-football-clubs-accounts-for-the-year-ending-june-2018-are-released/

 

More pertinent might be the projected financial statement for current year ending 2019

[Saint86]

More pertinent might be the projected financial statement for current year ending 2019

 

Well - we owe £30m for starters and our wage bill is higher than we can afford.

 

Translates to a very dire summer.

 

People on this thread have implied we are being sustainably run. We are not. We are on a downwards trajectory where revenues are falling and we are weakening the business (selling/loaning players) to maintain profits. This trend is not sustainable.

[saint1977]

Blackpool fans have shown what to do when bad owners are draining your club - keep your ticket money in your pocket. Oyston finally gone for good, full house there on Saturday for the first time in years.

[doddisalegend]

Blackpool fans have shown what to do when bad owners are draining your club - keep your ticket money in your pocket. Oyston finally gone for good, full house there on Saturday for the first time in years.

 

wouldn't have made much difference if Blackpool were a PL club though and how many years has it taken? Quite frankly I ain't getting any younger and don't really fancy missing out on my weekend football for half a decade.

[saint1977]

wouldn't have made much difference if Blackpool were a PL club though and how many years has it taken? Quite frankly I ain't getting any younger and don't really fancy missing out on my weekend football for half a decade.

 

See what you saying. Gao might disappear quicker than Oystons did if we go down in the next couple of seasons. Mind you, depends who the club was then sold to. I just don’t like the idea of someone who failed FAPP owning the club, it’s revolting. For me it isn’t Saints. I suppose where I’m different is I’ve given up attending football games altogether as I couldn’t watch another club on a regular basis. Have been to a few Exeter Chiefs games but it is not a cheap substitute either.

[John D]

Blackpool fans have shown what to do when bad owners are draining your club - keep your ticket money in your pocket. Oyston finally gone for good, full house there on Saturday for the first time in years.

 

Oyston wasn't removed because of the fans though. He was removed by a receiver appointed by a high court judge. He'd still be there otherwise

[benjii]

Well - we owe £30m for starters and our wage bill is higher than we can afford.

 

Translates to a very dire summer.

 

People on this thread have implied we are being sustainably run. We are not. We are on a downwards trajectory where revenues are falling and we are weakening the business (selling/loaning players) to maintain profits. This trend is not sustainable.

 

Indeed. And worrying that the MDs strategy is to try to just map the wage bill to the league position, rather than improve the league position.

[trousers]

Indeed. And worrying that the MDs strategy is to try to just map the wage bill to the league position, rather than improve the league position.

I'm not seeing where he's explicitly saying that the aim is to bring the wages down to match league position?

 

My interpretation of what he said is that they anticipated finishing higher with the players we had/have.

 

As such, I reckon he believes that we can close the gap between wages and league position by finishing higher up the league next season, rather than reducing the wage bill, per se.

 

Yes, there's a debate to be had as to whether our poor position the last two seasons is a blip due to poor management rather than poor players, but from what I've seen from Hassenhuttl so far, I'm pretty confident we'd finish in a more comfortable position next season with a similar wage bill (should we stay in the league of course!)

[John D]

Has anyone got a link to the actual accounts? I can't see them on companies house

[SaintsLoyal]

https://beta.companieshouse.gov.uk/company/00053301/filing-history

 

Last page, what is the link with british virgin islands ? Owners company ? loan ?

[benjii]

https://beta.companieshouse.gov.uk/company/00053301/filing-history

 

Last page, what is the link with british virgin islands ? Owners company ? loan ?

 

It looks as though Lander Sports Development UK, which bought SFC, is owned ultimately by a company in the BVI - Southampton Sports Development Company - which Goa is the owner of.

 

There isn’t a single person involved in the running of SFC that I trust. I wish they would all **** off.