Southampton have forfeited a chunk of the transfer fee owed by Tottenham for Gareth Bale in a bid to ease their immediate financial problems.Spurs paid Saints an initial £5million for the Wales international left-back last summer, while agreeing a further £5million based on appearances.
But Southampton's plc chairman Rupert Lowe, who returned to the club at the end of last season, has accepted an earlier settlement as part of the deal which brought young goalkeeper Tommy Forecast to St Mary's on Monday.
The hard-up Championship club were forced to strike a similar deal last season with Arsenal for Theo Walcott, sacrificing a reported £2.9million in order to collect the cash sooner.
Lowe told the club's official website: "I am always reluctant to forego any future income but given our current financial situation, we must do all we can to go into the new season as robustly as possible."
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It's left to Pompey to maintain Hampshire's top flight credentials for a while yet.The table has turned......
I'd lay odds that Saints will go into administration this season, unless Lowe and his cronies get a proper and true buyer for the club and then resign their positions. Oh well, dreams sometimes come true!!
Disgraceful, The pair of them were so desperate to get back in charge of the club, why don't they put there hand in there pockets, like promised some time ago?
IT LOOKS LIKE THE DEMISE OF A ONCE FAMOUS CLUB
saints are going to struggle without new players due to lack of cash injection
the cat
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