SAINTS have filed their financial accounts for the year up to June 2023, recording a pre-tax loss of £87million.

Financial details of St Mary's Football Group, in which the operations of the club fall under, were revealed on Monday morning.

Saints were relegated from the Premier League for the first time in a decade during the 2022-23 season. 

Further impacts on revenue from that demotion will become clear in next year's accounts, with this filing covering July 2022 to June 2023.

READ MORE: Southampton's financial accounts from previous year 2021-22

However, the club is confirmed as a 'going concern' and despite the losses it is not considered at risk. 

The accounts reveal a £70.5million loss before interest and tax, and a total £93.5million loss after interest and tax.

Meanwhile, turnover decreased by £5.1million to £145.5million. This is mostly due to Premier League prize money as broadcast fees the club received went up due to having more televised games.

The group's recorded loss on activities not including player trading was £42.7million, while loss on player trading is posted as £44million. 

Commercial revenue suffered a 0.2 per cent decrease, with some of this attributed to the retail operator Elite Sports Group going into receivership.

Matchday income increased from £17.4million to £19.2million - largely the result of greater ticket sales due to the EFL Cup semi-final run. 

Staggeringly, approximately £14.6m in costs were incurred in changing managers twice during the 2022-23 season. 

Ralph Hasenhuttl was replaced by Nathan Jones, who brought with him coaches Alan Sheehan and Chris Cohen, before he was sacked and Ruben Selles was hired. 

READ MORE: Nathan Jones sacked with Saints bottom of Premier League

Profit on players during the period fell from £23.8million to £7.4million with most of the big sales coming in July 2023 and beyond following relegation. 

Around £52m was spent on the amortisation of new player registrations - transfer fees paid to other clubs for new and previous deals.

All wages at the group increased from around £99million to £106million, with the men’s first team making up £89.4million.

Saints were owed around just £4million in transfer fees with £2.5million to be paid within a year of June 2023 and a further £1.5million after more than one year. 

However, Saints were obliged to pay £93million in transfer fees with £52.3million owed within a year and a further £40.6million due after more than one year.  

Saints CEO Phil Parsons had warned supporters not to expect big spending in both transfer windows this season. 

Total loss figures help to illustrate why Saints relied mostly on loan transfers, although young midfielder Shea Charles was signed for a fee. 

To add, there were big player sales including the likes of James Ward-Prowse, Tino Livramento and Romeo Lavia that came after June 2023 to offset these figures.

The report details that, since June 30, 2023, the group has entered into sale and purchase agreements for players with net transactions amounting to £111million receivable. 

Net debt on bank loans increased from £91.6million to £93.5million due to fluctuations in exchange rates to the Swiss Franc.

Saints are still paying back an operational loan taken from MSD Holdings in 2020 and expected to make part payment within one year.