https://eflanalysis.com/news/southampton-sent-financial-warning-amid-tyler-dibling-exit-talks-with-sales-necessary-verdict/
"In 2023-24, which is the last full financial year for which the data has been published, Southampton’s wage bill was £80m.
“That was a Championship season, albeit one they were in receipt of parachute payments, which meant their overall revenue was £85m.
“They also had nearly £40m of other expenses, plus amortisation costs of £51m. So at the operating level, they were losing a lot of money. They swung back to a profit because of the huge profit on player sales they made."
“2025-26 is a mirror image of that season, i.e. their first back in the Championship after relegation.
“Now, we don’t have the accounts for 2024-25, so we don’t know what the wage bill is, but we can safely assume that costs are going to massively outstrip revenue once again.
“Yes, they have parachute payments, but they will still be generating an operating loss, so sales are necessary both in terms of PSR and to fund the club’s day-to-day operations.
“That’s the simple answer. You can’t have a Premier League wage bill and a Premier League squad in the Championship when your revenue, even with parachute payments, has been cut in half overnight.”