City tops last season agents spending spree

December 1, 2009

The Premier League published, for the first time, the figures its club spent on the agents from October 2008 to September 2009, with Manchester City accounting for almost one-fifth of the $116 million total as its wealthy Abu Dhabi owner rebuilt the team.

In total, the 20 topflight clubs spent £70.7 million on agent’s fees in last season’s transfer market.

The figures revealed that, Manchester City who have failed to set the Premier League alight despite outlaying almost 150million pounds in the same spell – paid out nearly 13million pounds in agent fees far more than city rivals and defending champions Manchester United, who paid 1.5million pounds.

League leaders Chelsea were next on the list paying £9.6 million followed by Liverpool with 6.7 million and Tottenham Hotspur with 6.1 million.

Newly-promoted Burnley spent the least of any Premier League club, paying slightly more than £468,000 to agents.

The FA welcome the clubs to reveal the payments made to the agents. Under the new regulations, clubs, players, authorised agents and exempt solicitors agree to the publication of the figures after November 30 each year. But the clubs do not have to state “who was paid and for what deals.”

An FA spokesperson said: “We are pleased that, through these new requirements, clubs are bringing greater transparency to the domestic transfer market.

“For the first time, there will be a game-wide picture of the level of spending on agents.

“The leagues and other key stakeholders have been fully supportive, following the example set by the Football League with its publication of agents fees over the last few years.”

Anurada Bhat

Tags: 1 million, 6 million, abu dhabi, accounting, authorised agents, CHELSEA, city rivals, football league, game, league leaders, Liverpool, Manchester, manchester city, manchester united, premier league, spending spree, spokesperson, stakeholders, tottenham hotspur, transparency

Saints future secure after Swiss magnate buys them

July 9, 2009

LONDON (AFP) – Former FA Cup winners Southampton fears over going out of business evaporated on Wednesday as Swiss business magnate Markus Liebherr completed his takeover the League One side for an undisclosed sum.

The 61-year-old paid an undisclosed sum for the club – who at its peak were second in the old First Division in the 1983/84 season – despite the fact they will start next season with minus ten points after that penalty was imposed on them when their parent company went into administration in April.

“I believe we have a superb opportunity to rebuild this great club. This will require resources, planning, hard work and patience,” he told BBC Solent.

“We should not expect instant success, but our fans, employees and stakeholders can expect 100% commitment from me and my team.

“We will assemble a strong management team at every level of the club. We will act rapidly, but also plan for the long term, because I am here for the long term.

Liebherr was attracted by the club’s rich sporting heritage – they won the 1976 FA Cup with a sensational victory as a Second Division club over mighty Manchester United – loyal fan-base, first-class stadium and training facilities.

“I also look forward to the club re-engaging with the fans and the local community. We cannot succeed without their backing.”

Liebherr was on the board of Liebherr Holdings until 2007 and has been running his own group of companies, the Mali Group, since 1994.

Liebherr, 61, is expected to finalise his boardroom line-up at St Mary’s by August, before the new season begins.

Saints manager Mark Wotte was a mightily relieved man.

“I think it looks very good, and it’s about time,” he told BBC South.

“It’s been extremely difficult, there has been lots of worrying about the future of this great club but, hopefully, we can look to a better future.

“The most important thing is that the club will be saved and we can look to a better future and start working to get back to the Championship.”

Southampton’s future had looked bleak last week when a consortium which included former playing legend Matt Le Tissier had pulled out of a deal because the Football League – the governing body of clubs outside the Premier League – were refusing the club to appeal against the 10 point punishment.

Tags: bbc, better future, boardroom, business magnate, English Premier League, fa cup winners, going out of business, heritage, instant success, local community, london, loyal fan base, management team, Manchester, manchester united, mark wotte, Markus Liebherr, Matt Le, parent company, solent, Southampton, St Mary, stakeholders, strong management, swiss business, takeover, undisclosed sum

Saints on verge of nadir after Pinnacle pulls out of deal

July 1, 2009

LONDON, (AFP) – Former FA Cup winners Southampton are on the verge of going out of business after The Pinnacle group – which included legendary Saints player Matt Le Tissier – withdrew their interest in buying the club on Tuesday.

Pinnacle’s interest waned once the Football League – the body that oversees the clubs outside the Premier League – insisted that they could not appeal against a 10 point penalty imposed last season which will see them start next season in League One minus 10 points.

This was imposed once the 1976 FA Cup winners – whose highest ever league finish was second in the old First Division in 1983-84 season – parent company went into administration in April.

The Administrator Mark Fry is now hoping to sell to another buyer and is understood to be in talks with a Swiss consortium.

Le Tissier confirmed on Tuesday the group has withdrawn from negotiations – amid fears that the club may now be only days away from going out of business.

“We’ve been trying ever so hard but we’ve been banging our head against a brick wall,” Le Tissier told BBC Radio Solent.

“I’m very sad, but hopeful that Mark Fry can find someone to take over the club. Everybody’s worried, we’ve all been working very hard but it’s getting to the point where it’s very desperate.”

Fry hinted last Friday that if no bids were forthcoming by the end of this week, he would have to consider winding the club up.

A statement issued on behalf on Mark Fry in response to Pinnacle’s withdrawal read: “We remain hopeful that a sale of the club will be completed in a short period of time.

“It is a complex transaction which involves numerous stakeholders and a satisfactory solution for all parties is not simple to achieve.

“It is positive news that the football club should be in a position to pay the wages this week.

“We are working to a very short timeframe but wish to reassure everyone we are working round the clock to ensure the club’s survival.”

Once a club has entered insolvency proceedings, the Football League must approve any takeover for the club’s League share to be returned, allowing them to play in the League and its associated competitions.

Last summer, the League refused to allow Rotherham, Bournemouth and Luton to begin the season unless they accepted points deductions following spells in administration – Luton failed to overcome such a heavy penalty and were relegated at the end of the season from the league.