Saints release their 2019/20 financial results

Ouch! Saints 2019/20 accounts don't make for pretty reading...

Saints have announced a pre-tax loss of £76.1m for the financial year ending 30th June 2020.

Like many businesses, the performance of St Mary's Football Group has been heavily influenced by the impact of COVID-19.

Although the Club enjoyed a more successful season on the pitch during 2019/20, the Group's overall turnover fell to £126.6m (down from £149.6m in 2018/19).

Other noteworthy figures included TV broadcasting revenue falling to £93.5m (down from £112.8m in 2018/19) and match day revenue falling to £14.5m (compared to £17m the previous financial year).

Additional COVID-19 sales and administrative costs were also incurred (totalling £1.5m), allowing Ralph Hasenhüttl's first team squad to train/play in secure surroundings.

With the 2019/20 Premier League campaign being greatly modified due to COVID-19's arrival in the UK, the suspension of football between March and June (and fans remaining absent from St. Mary's throughout the majority of the pandemic) meant it was always expected income streams would rapidly decline.

And, with uncertainty still remaining around when football will 'get back to normal', the numbers could well get worse before they get better.

Another concerning revelation was the fact there is now a 90% 'wages to turnover' ratio at Saints (based on the lower 2019/20 revenues), putting even more pressure on the Club when trying to negotiate new contracts with current squad members - including star striker Danny Ings.

Finally, there was also a breakdown of the MSD Holding loan taken out by the Club (£78.8m) to support them through the financial rollercoaster of the pandemic.

At 9.14% interest, it will cost Saints £7.2m per year until 2025 (a total repayment of around £115m!).

While the overall results make pretty grim reading, it will now be important for the Club to focus on how/where they can start to recuperate some of the savings that might be needed.

Fans will be keeping their fingers crossed that that doesn't mean having to sell key players - particularly the aforementioned Ings!

The full financial statement(s) can be found via the Club's website.

Article by Ben Stanfield


(Photo via Daily Echo website)

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