Owners convert £33 Mill in loans in to shares "

" Southampton owners convert £33m loan into shares "

Southampton have revealed that £33m of loans invested in the club by the estate of former owner Markus Liebherr will not have to be paid back.
The money was invested in the club over the two seasons to June 2011, but has now been converted into shares, removing it as a liability.
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Chief financial officer Gareth Rogers told BBC Radio Solent: "Effectively the club no longer owes that money."
Saints made a net loss of £11.5m in winning League One promotion last term.
Asked if the club no longer faced the prospect of having to repay the loan, Rogers replied: "Absolutely."
Southampton were in administration and had just been relegated to League One when Swiss businessman Liebherr bought the club in 2009.
He appointed Italian banker Nicola Cortese to run the club as executive chairman, and announced a five-year plan to return the Saints to the Premier League. Liebherr died in August 2010 but Cortese remains in charge.

Former Southampton owner Markus Liebherr
And having guided the club into the Championship last season, and with Saints currently enjoying a five-point lead at the top of the division, manager Nigel Adkins now looks likely to achieve consecutive promotions.
Elsewhere the accounts show total revenue excluding transfers rose by 11% to £16.4m and that group wages made up 93% of turnover.
But Rogers said supporters should not be concerned about the latter figure.
"In isolation you could say it's a very scary figure, but in the context of the [five-year] plan it was expected. It includes £1.4m of one-off payments that won't re-occur."
He also acknowledged wage costs have risen in the Championship, and would rise further if the club goes into the Premier League, but insisted the figure was being carefully matched with the increase in revenues.
"The loss incurred to date is absolutely beneath what we expected, so perverse as it sounds, we're pleased with that size of loss," he said.
"I am absolutely confident fans need not be concerned about the future financial stability of the club.
"Nothing has changed operationally or strategically with Markus not being here. Nicola will drive the club forward and has every plan to do so."

Going up are they not. Perfect time for them to do this.

Lets ne honest but we are expecting the Malaysians to do this. I wonder if they will do that if we are in the championship next season.

Admin seems to breathe new life into clubs, i just think 10 points is not enough theses days, surely a team should be relegated the same season and not allowed to go up following year. They should not be allowed promotion following year either until a fixed time is agreed, its happening way too much lately

Admin seems to breathe new life into clubs, i just think 10 points is not enough theses days, surely a team should be relegated the same season and not allowed to go up following year. They should not be allowed promotion following year either until a fixed time is agreed, its happening way too much lately

As far as i'm concerned teams who have been in admin should not be allowed to enter the prem league until they have paid off all their creditors in full and not 5p in the pound.

Admin seems to breathe new life into clubs, i just think 10 points is not enough theses days, surely a team should be relegated the same season and not allowed to go up following year. They should not be allowed promotion following year either until a fixed time is agreed, its happening way too much lately

As far as i'm concerned teams who have been in admin should not be allowed to enter the prem league until they have paid off all their creditors in full and not 5p in the pound.

Fully agree with that Gareth. The FA should take a bit of lead and put those clubs into the lowest level possible to start again.

A left wing reactionary view point I agree but the amount of small business' that have gone down due to football clubs not paying up numbers the hundreds if not thousands. One law for football one law for small business.

Can we do what Southampton have done with the 'loans into shares' thing?

Can we do what Southampton have done with the 'loans into shares' thing?

It`s already happened at our club with the likes of Vincent Tan , PMG , Steve Borley and Michael Isaac for several £m , but a lot more of it is due to happen in the very near future