A number of Southampton fans have been reacting the release of the club’s latest financial report covering 2019 through to June 2020, which shows the club have made a loss and also taken out a sizeable loan with high interest rates.
Like many clubs up and down the country, the Saints have been massively impacted by the absence of fans at home fixtures since March, barring a few matches where they had 2,000 supporters at St Mary’s towards the end of last year. The financial report certainly reflects that and highlights the sort of figures we could start to see at most Premier League clubs.
However, the report revealed the worrying news that the Saints have taken out a loan of around £78m at 9.14%, meaning there will be an annual interest charge of £7.2m until is repayable in 2025. Southampton’s managing director Toby Steele has elaborated on the club’s situation and moved to reassure fans that with a couple of player sales things could turn around.
Ralph Hasenhuttl has already hinted that the January window will be a quiet one for the Saints and this report will make that even more likely. It could also impact upon trying to sort out new deals for the likes of Danny Ings, as keeping hold of key players could become more challenging with the need to balance the books.
Southampton fans concerned over financial report
Many Southampton fans have found the latest report on the club’s finances “concerning” and some are worried about the prospect of keeping hold of certain key players. Meanwhile, others were more focused on the loan which has been taken out by the club.
Agreed, not brilliant in terms of how it looks on surface. Sales will be the immediate concern but for me, the key message is how important a high finish would be for us this season. A cup run and somehow getting Europe would help. Cut Lemina, Hoedt etc off the books #saintsfc https://t.co/30G9BM7dcn
— Saint Alastair (@Saint_Alastair) January 12, 2021
Sounds a switched on guy. Explains why couple players not signed new contracts. Sell b4 we buy. Enjoy the highs of now harder times ahead. Good young hungry players required. 😇 https://t.co/lfo2FWhOFj
— Kev The Rev (@rev_hawkins) January 12, 2021
The problem is, do Saints have to sell Ings, Vesty, etc to balance the books? I dont think they can afford to sell Ings, unless we get an offer of £100M 😁😉😇
— Steve Kaye (@TaranakiSaint) January 12, 2021
Doesn’t sound great for the Ings contract though, does it Adam?
— The Archers Road End | #LegacyFan (@ArchersRoadEnd) January 12, 2021
Disaster, think we will have to sell a few players this summer to compensate.
— Steven 😇 (@stevy7) January 12, 2021
No wonder Ings has yet to sign a new contract, unfortunately he’s probably out the door to offset some of that debt!
— Stuart Brittan (@BrittanStuart) January 12, 2021
https://twitter.com/europasaintsfc/status/1349102783912402945?s=19
https://twitter.com/GregoryD4N/status/1349101649445462016?s=19
