Huffton Posted 31 May, 2014 Share Posted 31 May, 2014 What if, NC didn't, he was sacked. Because of the financial turmoil his spending has brought on the club. We were told that there was a 'financial situation' after his departure. What if this is far worse than we're being told and a firesale is well and truly on to keep the club afloat again. Link to comment Share on other sites More sharing options...
Saint Charlie Posted 31 May, 2014 Share Posted 31 May, 2014 Possibly. But with 80m income from PL its hard to see. Also our now CEO was Chief Financial Officer during the Cortese reign so if it is that bad how the **** did he get promoted off the back of it? Will be in far more trouble if we get relegated via selling 6 or 7 of our best players. Link to comment Share on other sites More sharing options...
colehillsaint Posted 31 May, 2014 Share Posted 31 May, 2014 There is not much to read on this board over the last year on the clubs actual financial position. Where are all the finance boffins that used to get on here and relentlessly argue about share capital? Saints web fail if you ask me!! Link to comment Share on other sites More sharing options...
richard Posted 31 May, 2014 Share Posted 31 May, 2014 There is not much to read on this board over the last year on the clubs actual financial position. Where are all the finance boffins that used to get on here and relentlessly argue about share capital? Saints web fail if you ask me!! It's not a public company anymore. Doesn't have to release any financial data. Link to comment Share on other sites More sharing options...
Unbelievable Jeff Posted 31 May, 2014 Share Posted 31 May, 2014 I said at the time this could be the case. KL allowed him to fall on his sword to look better to the press, although this backfired. Link to comment Share on other sites More sharing options...
Toussaint Posted 31 May, 2014 Share Posted 31 May, 2014 It's not a public company anymore. Doesn't have to release any financial data. In that case someone should take responsibility and make it up, providing the fabricated news is all terrible. It can then be reported as news by the echo and all the myriad of internet news outlets and away we go! Link to comment Share on other sites More sharing options...
Huffton Posted 31 May, 2014 Author Share Posted 31 May, 2014 Also our now CEO was Chief Financial Officer during the Cortese reign so if it is that bad how the **** did he get promoted off the back of it? Maybe it was him who blew the whistle on Cortese? Link to comment Share on other sites More sharing options...
colehillsaint Posted 31 May, 2014 Share Posted 31 May, 2014 It's not a public company anymore. Doesn't have to release any financial data. Makes sense, of course. Presumably some information is available for the credit agency's to be able to rate even a privately owned business. You would think some egg head on here would at least run figures on if we are actually losing much money over the last twelve months, and for that matter the next twelve months trading? Also, why would you asset strip it? It must be worth a ton more than they have put into it? Selling a team and getting relegated is hard work is it not, (with abuse coming in from a frustrated fan base)? The question marks imply that I am curious about these questions but too idle to provide my own answers. Link to comment Share on other sites More sharing options...
colehillsaint Posted 31 May, 2014 Share Posted 31 May, 2014 In that case someone should take responsibility and make it up, providing the fabricated news is all terrible. It can then be reported as news by the echo and all the myriad of internet news outlets and away we go! That's the spirit :-) Link to comment Share on other sites More sharing options...
St Marco Posted 31 May, 2014 Share Posted 31 May, 2014 Don't believe it. If you watch the interview Ralph did with BBC the other day he said "Southampton is in the best position it has ever been". Plus if true it would also mean KL was bull****ting when she said "With great regret we have accepted the resignation of Mr Cortese, He has done a wonderful job at the club and we very much wanted him to stay." If we take into account we owe £30m for transfer fees that is dwarfed by the £75m we got from PL TV money, not including all other revenues. Add to that we let a lot of players leave last January and Cortese himself was on about £2m a year which was saved. We also had amongst the lowest Agent fees. Then we got around £15m for finishing 8th. Just got £2m for losing MP (if that was actually paid). There is no financial issues as far as I am concerned. Link to comment Share on other sites More sharing options...
Wes Tender Posted 31 May, 2014 Share Posted 31 May, 2014 The problem is that as soon as Cortese left and the Club issued that crassly inept statement that they had inherited a financial situation that caused concern, the media vultures have circled overhead and incited a frenzy of rumours that we will have to sell all of our star players to balance the books. Now that they have opened this particular Pandora's box, even if they subsequently backtrack and say that there is absolutely no need for concern, the media are going to take exactly the same line as the OP and believe that there is no smoke without fire. The least the club should have done, having failed to keep their big mouths shut in the first place, is to stick by their statements that no player is for sale. A bit late to have the caveat that no player is for sale without the blessing of the manager, as the manager was for sale himself. Having subsequently sold our our talisman striker too, our position is extremely weak. When we get the mega-buck fees for the likes of Shaw and Lallana if he goes, then we will get stiffed by any clubs whose players we wish to buy, because we will be rolling in money. Our only hope is to claim that this money was needed to plug the giant hole in our finances and that we are now skint and cannot afford to pay over the odds for players. Link to comment Share on other sites More sharing options...
nta786 Posted 31 May, 2014 Share Posted 31 May, 2014 Don't believe it. If you watch the interview Ralph did with BBC the other day he said "Southampton is in the best position it has ever been". I struggle to believe anything of what that guy says. Link to comment Share on other sites More sharing options...
Sidney Fudpucker the 3rd Posted 31 May, 2014 Share Posted 31 May, 2014 We're being asset stripped and the club will be sold. Link to comment Share on other sites More sharing options...
speed demon Posted 31 May, 2014 Share Posted 31 May, 2014 I struggle to believe anything of what that guy says. Yeah my thoughts exactly. Ralph would do us all a favor if he grew a pair of balls and STFU. Which is pretty much how NC went about his business. From what I've seen so far, NC was well worth £2mil compared to these amateurs. Link to comment Share on other sites More sharing options...
Unbelievable Jeff Posted 31 May, 2014 Share Posted 31 May, 2014 We're being asset stripped and the club will be sold. Is that a fact? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 31 May, 2014 Share Posted 31 May, 2014 Is that a fact? Doubt it, it's speculation at best and probably no more than hypothesis. Expect some serious downsizing myself though,europe with the kids or bust, didn't we already try that though, how did it turn out for us, can't remember . Link to comment Share on other sites More sharing options...
SaintRobbie Posted 31 May, 2014 Share Posted 31 May, 2014 What if, NC didn't, he was sacked. Because of the financial turmoil his spending has brought on the club. We were told that there was a 'financial situation' after his departure. What if this is far worse than we're being told and a firesale is well and truly on to keep the club afloat again. Then they should have said so and we'd have understood. But even if there was a financial crisis and they said it now I doubt people would believe it now after this weeks debacle. Link to comment Share on other sites More sharing options...
saintmonkey1979 Posted 31 May, 2014 Share Posted 31 May, 2014 How are we being asset stripped? We still have SMS and Staplewood. Jacksons Farm is still ours too. The stadium and offices aren't being cleared for sale as far as I know. All that has happened so far is that a compensation for an employees contract has been agreed. Players are employees, not assets. Link to comment Share on other sites More sharing options...
tttdcs Posted 31 May, 2014 Share Posted 31 May, 2014 What if, NC didn't, he was sacked. Because of the financial turmoil his spending has brought on the club. We were told that there was a 'financial situation' after his departure. What if this is far worse than we're being told and a firesale is well and truly on to keep the club afloat again. or what if NC sold the "project" to MP/players and his departure was just part of an agreement with his family to return home after 5 years. The "financial situation" does not exist all this is as per original plan to maximise return on initial investment for future sale. Link to comment Share on other sites More sharing options...
stu0x Posted 31 May, 2014 Share Posted 31 May, 2014 Maybe it was him who blew the whistle on Cortese? He wasn't a junior accountant - he was the CFO. The financial buck stops with him, whichever way you cut it. Either he allowed the club to get into a perilous financial state, in which case it's his fault. Or he allowed someone else to do it on his watch. Or of course the third option is the financial situation is nowhere near as bad as was made out, and that whole bizarre interview was a (badly judged) attempt to soften the blow when the sales started... Link to comment Share on other sites More sharing options...
SaintRichmond Posted 31 May, 2014 Share Posted 31 May, 2014 What if, NC didn't, he was sacked. Because of the financial turmoil his spending has brought on the club. We were told that there was a 'financial situation' after his departure. What if this is far worse than we're being told and a firesale is well and truly on to keep the club afloat again. The "financial situation" was the one after Markus's Five Year Plan expired Markus had put in place all the "expenditure" necessary to fulfil his 5 year plan, and has been/was the one Cortese had been working to. After the five years, Katharina then took up the reins, and made it clear to Cortese that further funding was not going to be forthcoming, resulting in all our major players on Top money, with no adequate income coming in Katharina wants "her" ( Leibherr's ) cash outlay back, and the easiest way to do it is to sell the Prime assets, and play with the Academy players. Sound familiar ?? It was tried before and failed, and will do again Link to comment Share on other sites More sharing options...
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