Printer-friendly pageTuesday, May 22, 2007
The Daily Echo has reported that Saints could soon be haemorrhaging money at the rate of £1m a month.
Equivalent to more than £33,000 a day, the losses will force bosses to sell star players such as Gareth Bale just to stay afloat.
To avoid the nightmare threat of administration, which attracts an automatic ten-point penalty from the Football League, costs have to be cut back to the bone and the structure of a Premiership club dismantled.
Saints lost around £416,000 a month in the half-year leading up to December 31, 2006. But once the parachute payments dry up this summer, the monthly loss will soar towards the £1m mark.
