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 presented the night at St Mary’s.
A number of topics were discussed with the annual event a rare chance for fans to directly ask those who can actually provide the answer questions on their football club.
Unsurprisingly, fans were keen to ask about transfers with Southampton badly in need of quality in attack as well as a new goalkeeper.
Attacking midfield target Fabio Carvalho is on the brink of sealing a move to Brentford, whilst Matt O’Riley is likely to cost somewhere in the region on £30 million.
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Phil Parsons explains Southampton’s financial situation ahead of Premier League return
One fan took their opportunity to ask the Southampton panel a question relating to the club’s ability to compete financially with their Premier League rivals, citing the fees touted for Carvalho and O’Riley as examples.
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This question was answered by Phil Parsons, with the CEO explaining the club’s financial position with incredible honesty.
Parson’s responded: “When you go up [from the Championship], your contracts all jump, you don’t just get £100 million in the bank, it doesn’t happen like that.
“You get small chunks throughout the year. So it’s about cash flow as well, money goes in and out of the club, so it’s really, really complex.”
Parsons went on to reveal the extent of owners Sport Republic’s investment since taking over the club in January 2022, whilst making sure to highlight the lack of investment prior to them taking the reins.
Parson said: “Sport Republic have put in over £200 million into this club over the last couple of years and that’s the first bit of money in ten years, by the way.
“So that’s why we’ve had to become more efficient. The owners are very, very bought in but then we have financial fair play as well so we do have to watch the rules and sometimes we need some outs before we can do some ins.”
Southampton have spent over £55 million so far this summer
Whilst Martin and the club’s supporters want more money invested into the side this summer to give the Saints the best chance of survival, it would be unfair to claim Sport Republic have not spent.
Flynn Downes was signed for £18 million, whilst Taylor Harwood-Bellis sealed his £20 million move following promotion.
Both players were at the club last season so do not feel like new signings, but Southampton spent £38 million to ensure both are at the club ready for the Premier League.
Ben Brereton Diaz has signed for £7 million, with Yukinari Sugawara, Ronnie Edwards and Nathan Wood joining for a combined fee of just under £12 million.
That takes Southampton’s spending to over £55 million already this summer, with Adam Lallana and Charlie Taylor also both having arrived for free.
Parsons was quick to point out that this in itself is evidence that Southampton are already competing financially in the Premier League, explaining: “”So far, we are around sixth highest net spenders in the league but it’s easily forgotten.”
Southampton need more arrivals this summer – of that there is no doubt – but Parsons should be commended for his transparency in explaining where the club stand in terms of their finances this summer.