Those Southampton fans that I know were incredibly nervous yesterday before their home match against a Coventry side sadly beset with deep seated problems, but of course they needn’t have worried. They will now become the first Swiss-owned team in the Premier League.
Southampton provide a prime example of how a benefactor can transform a club’s fortunes. German-born billionaire Markus Liebherr bought Southampton for about £12m in 2009. He died two years ago before they had climbed out of League One, but the estate passed to his daughter.
Those Southampton fans that I know were incredibly nervous yesterday before their home match against a Coventry side sadly beset with deep seated problems, but of course they needn’t have worried. They will now become the first Swiss-owned team in the Premier League.
Southampton provide a prime example of how a benefactor can transform a club’s fortunes. German-born billionaire Markus Liebherr bought Southampton for about £12m in 2009. He died two years ago before they had climbed out of League One, but the estate passed to his daughter.
Liebherr’s interest in the Saints was stimulated by Nicola Cortese, a friend of Roberto di Matteo. Cortese, the executive chairman, laid out a five-year plan to return the club to the top flight in 2014. The owner spent about £20m funding losses and promotion. This can be compared favourably with the £100m the late Nigel Doughty spent on Nottingham Forest with no apparent result.
The club have built on academy that has remained of Premier League quality by investing £15m in the existing training facility, albeit players like Alex Oxlade-Chamberlain have had to be sold on.
There is also a contrast with West Ham who face a nerve wracking journey through the play offs. Their wage bill totals £33m and joint over David Sullivan pumped in £30m after relegation last season.