Premier League Club Southampton Reportedly Up For Sale
March. 09, 2020
Premier League side Southampton are reportedly up for sale again following reports that Jisheng Gao revealed that he will sell his 80% stake for £250 million, Inside World Football revealed.
Goa bought the club in August 2017 for £210 million and now reports reveal that his Lander Sports Development has struggled to maintain success after it suffered a loss in 2018.
The club's turnover dropped from £178.3 million to £148.4 million in 2017/18 and most of this – £117 million – was from broadcasting, with matchday proceeds dropping from £20.9 million to £16.7 million and commercial revenue, making just about £13 million.
However, the Saints still accumulated a profit of £33 million in the 2017/18 season, where had sold Virgil van Dijk to Liverpool for £75 million.
According to the Sunday Times, Southampton have a number of player agents and intermediaries to potentially raise money from players sales and reduce the wage bill as their position in the Premier League looks to be certain.
Gao told the Financial Times: “I am not treating Southampton as a pig to be fattened and sold. I am treating it as a child.
"But my children must believe that they cannot depend on the boss. I have said to Southampton, ‘I am now your father. But I am putting you on the right track. You need to feed yourself.”