Their debt was paid off by a rich new owner, not by administration
From the Swissramble:
Just as it looked like the club would have to fold, the cavalry arrived in the shape of Markus Liebherr, whose DMWSL 613 Limited acquired the share capital of the football club (and other group companies) from the administrators of Southampton Leisure Holdings Plc on 8 July 2009. Not only did the new owner save the club, but he also paid the debts in full, as opposed to many new owners who only pay a few pennies in the pound for debts owed, leaving many small business and public authorities out of pocket.
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Posted By: watfordcanary on May 27th 2014 at 18:15:15
Message Thread
- Southampton seem to be suffering like Swansea after the Brendan Rogers period (Other Football) - shortfatb, May 27, 15:10:42
- Yeah, loaded (Other Football) - yarmyyarmy, May 27, 15:19:37
- Football is Fucked. Part 742. (Other Football) - Jim Nasium, May 27, 17:50:46
- Their debt was paid off by a rich new owner, not by administration (Other Football) - watfordcanary, May 27, 18:15:15
- Football is Fucked. Part 742. (Other Football) - Jim Nasium, May 27, 17:50:46
- Yeah, loaded (Other Football) - yarmyyarmy, May 27, 15:19:37
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