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Players and staff secured £5 million in bonuses for promotion
9:09am Friday 8th March 2013 in News
SAINTS’ elevation to the cash-rich Premier League is reflected in the latest financial figures released by the club.
The club made a net profit of just under £1m in their first six months back in the top flight, while revenue, excluding player trading, increased to £33.1m, up from £11.6m.
Saints' shareholder, late owner Markus Liebherr and subsequently his estate, invested £38m since taking over the club in 2009, with that money now having been converted into equity.
Player wages accounted for 59 per cent of turnover in the first six months of the Premier League, down from 102 per cent in the 2011/12 season.
Executive chairman Nicola Cortese paid out over £5m in player and staff bonuses on promotion to the Premier League.
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