Southampton hosted their annual fans’ forum on Monday night as Russell Martin and Jack Stephens fielded questions from the club’s supporters ahead of the start of the Premier League against Newcastle United.
Manager Russell Martin and captain Jack Stephens were joined by Southampton CEO Phil Parsons and Performance Director Mark Bitcon as Adam Blackmore hosted the evening at St Mary’s.
A variety of issues were discussed, with the yearly event providing a unique opportunity for supporters to directly ask people who can answer questions about their football club.
Unsurprisingly, fans were eager to enquire about transfers, with Southampton desperately in need of attacking talent as well as a new goalie.
Attacking midfield target Fabio Carvalho is close to joining Brentford, while Matt O’Riley is expected to cost over £30 million.
Phil Parsons explains Southampton’s financial situation ahead of Premier League return
One supporter took advantage of the opportunity to challenge the Southampton panel on the club’s capacity to compete financially with Premier League competitors, using the reported transfer fees for Carvalho and O’Riley as examples.
Parson’s responded: “When you move up [from the Championship], your contracts all increase; you don’t immediately get £100 million in the bank; it doesn’t work that way.
“You receive little amounts throughout the year. So it’s also about cash flow; money enters and exits the club, making it more complex.”
Parsons went on to detail the degree of owners Sport Republic’s investment since taking over the club in January 2022, while emphasising the absence of investment prior to their takeover.
Parson stated, “Sport Republic has invested almost £200 million in this club over the previous few years, which is the first investment in ten years.
“That’s why we have to improve our efficiency. The owners are very, extremely invested, but we also have financial fair play, so we have to follow the regulations, and sometimes we need some outs before we can get some ins.”
Southampton have spent over £55 million so far this summer
While Martin and the club’s supporters want more money invested in the squad this summer to give the Saints the best chance of survival, it would be misleading to say Sport Republic hasn’t spent.
Flynn Downes was signed for £18 million, while Taylor Harwood-Bellis completed his £20 million move following promotion.
Both players were at the club last season and do not feel like new acquisitions, but Southampton spent £38 million to ensure they are ready for the Premier League.
Ben Brereton Diaz signed for £7 million, while Yukinari Sugawara, Ronnie Edwards, and Nathan Wood joined for slightly under £12 million.
Southampton have already spent more than £55 million this summer, with Adam Lallana and Charlie Taylor joining for free.
Parsons was eager to point out that this in itself is evidence that Southampton are already competing financially in the Premier League, explaining: “”So far, we are approximately sixth largest net spenders in the league, but it’s easily forgotten.”
There is no doubt that Southampton needs more arrivals this summer, but Parsons should be congratulated for being open about where the club stands financially this summer.
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