Southampton reveals financial spending on website

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Answering criticism from fans and others, the Championship Club took the unusual step of posting its financial records on the club’s website. The club is facing two takeover attempts and rising criticism from fans over the club’s financial problems.

The figures reveal, among other things, that the club spent GPB 100.24 million on players and coaches’ salaries between June 2001 and Nov. 2005, which amounted to 45 percent of total expenditures. Additionally, the club spent GBP 37.35 million on transfer fees and with GBP 27.54 million raised on players sold. The club’s youth academy cost GBP 6.7 million over that period, with administration costs totalling GBP 14 million. In total, the club spent GBP 234.67 million compared to GBP 228.96 million raised. The club’s debt increased by GBP 5.8 million to a total of GBP 20 million.

“It is quite an eye-opener in many ways, particularly the amount spent on wages,” Managing director Andrew Cowen told the club's website. “The Bosman ruling has bitten and caused a reduction in the number of in-contract transfers.” He added: “This has a big effect on wages which is something fans don't see. They only look at the transfer fees but there are a lot of add-ons in terms of salaries, loyalty bonuses, agents' fees and the five per cent league levy on all transfer fees.” In regards to why the club published the figures on its website, Cowan said: “Some people might see it as a PR manoeuvre but we are just trying to make sure fans know the facts.”