EPL side Southampton Owner Katharina Liebherr "has strengthened her commitment to the club" with an additional £20M ($30M) loan, according to Nabil Hassan of the BBC.
Liebherr "also gave the board permission to reinvest transfer income gained from last year's summer exodus of players." Southampton CEO Gareth Rogers: "It really demonstrates her commitment to the club to a certain extent. She had decisions to make in the summer. She could have sold the players and cleared her debts in the club but said we had that money to reinvest."
Liebherr, whose father Markus bought the club in '09 but died a year later, "installed herself as director" following the departure of Chair Nicola Cortese in Jan. '14.
The annual results for the year ending June 30, 2014, the season in which Mauricio Pochettino was manager, also show:
- The first full-year profit the group has recorded since administration in '09 (£33.4M)
- Expenditure on the training ground, originally estimated at £15M, has risen to £38M
- Total revenue increased to £106M ('13: £71.8M) with £31.8M net assets (BBC, 3/28).
