Saints made a pre-interest and pre-tax loss of £7.76m in the year ending 30 June 2010.

In virtually a year after Markus Liebherr rescued Saints from administration and wiped out its existing debt, it had wracked up a loss before player trading of £6.68m.

That was still better than the previous financial year and significantly on the back of a turnover of £14.28m which was well up from £8.85m.

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The club's entire wage, pensions and social security bill came to just over £12.2m.

Saints made £800,000 from broadcast money, which was down from the £1.3m the club made the previous season in the Championship.

The accounts also show that Saints lost £1.08m in player trading during the financial reporting period.

It also reveals that they owe just over £7m to creditors in the next year and £14.68m after more than one year.

The accounts say that includes a loan of £8.4m owed in more than five years to the shareholder – who was Markus Liebherr before his death.

The accounts note that since Liebherr’s death the shareholding of DMWSL 613, the company who own Southampton football Club Limited, has passed into probate.