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Nicola Cortese's statement on Saints' financial results
9:50am Friday 8th March 2013 in Sport
Saints exective chairman Nicola Cortese's full statement on the club's interim Premier League financial results, and accounts for the 2011/12 season:
“From where we started, it is a great achievement to have reached the Premier League in just three seasons. We have done this during a period when we have invested in all of our business areas, radically reformed how we operate the Club to conform to best practice and, at the same time, produced sound financial results.
“Effective financial management is about making the right investments at the right price, at the right time. When combined with sound business decisions, commitment, a strong company structure and great ambition across the whole organisation, we have proved that only a modest outlay - when compared with most Premier League Clubs – is needed in order to achieve success. We fully intend to maintain our culture and a diligent approach to our financial affairs.
“Our people at the Club have worked hard to achieve this result and I am proud of them and their contribution to our success. They all know that we can still improve further and that is our constant aim. We have a plan to compete at the top and all of our decision-making and investment spending is geared to achieve that. The creation of a state-of-the-art training facility at Staplewood - which is planned to be operational towards the end of 2013 - will be a shining and proud example of that.
“Our results also demonstrate we are already operating within the spirit of likely new Premier League financial regulations in respect of average profits and losses over three years. We believe very strongly that each club should continue to be permitted to run their business – including their pay rolls - as they see fit. This is fundamental to the future integrity of football.”