Saints have today revealed the huge cost of players wages, over the last four years at St Mary’s.
The club have published the figures in a clear bid to be open with concerned fans; many of whom feel the board should have sanctioned more funds for transfers and are unsure of the clubs financial situation.
From June 2001 until November 2005 the club spent over £100 million on players’ and coaches’ wages alone.
Managing director Andrew Cowen posted the results of the report on the official site stating:
‘Although we do publish the annual accounts, there have been calls for us to show where the money has gone so we have tried to break it down into an easy-to-read format. Some people might see it as a PR manoeuvre but we are just trying to make sure fans know the facts’
‘The Bosman ruling has bitten and caused a reduction in the number of in-contract transfers.’
‘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.’
The sum of £100 million is excluding transfer fees. Fans might be surprised to hear that during the same four year period Saints spent £5.7 million more than they received on player transfers. In total £37.35 million was spent on players, with only £27.54 million coming in – But the figures finish before the January sales of Theo Walcott, Antti Niemi and Nigel Quashie.