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Southampton Football Club reveal latest accounts
SAINTS have today released their latest set of results.
The headline announcement of the figures for the year ending June 2011 - the period in which Saints were promoted from League One - is that the estate of Markus Liebherr have invested £33m in the club in the first two seasons, a figure that is understood to include the cost of them buying Saints out of administration.
The figure was initially a loan slated to be repaid. It has now though been converted to shares.
Though it makes little practical difference as the Liebherr’s owned the club in its entirety before and still do now, the loan has been wiped off the books with the debt now likely to be directly recouped if and when they sell, rather than any liability on the club, allowing fans to rest easy that it really is debt free up to June 2011.
In the year in which Saints won their League One promotion they lost some £11.5m, a figure included in the Liebherr family's considerable contribution to the club's current successful position, and their revenues increased to £16.4m while wages went up to 93 per cent of turnover.