Southampton have been effectively relegated, after the League found that Southampton’s parent company,Southampton Leisure Holdings Ltd, and Southampton Football Club were “inextricably linked as one economic entity” after Southampton’s parent company went into administration.
“The Holding Company has no income of its own; all revenue and expenditure is derived from the operation of Southampton Football Club Limited (SFC) and the associated stadium company.” Said a Statement on the League Official website.
“The Holding company is solvent in its own right. It only becomes insolvent when account is taken of the position of SFC and the other group companies.”
The League added that after the board reviewed the report of the independent forensic accountants commissioned by The League to examine the circumstances at Southampton Football Club they “alternative other than to invoke its ‘Sporting Sanctions’ regulations and apply a 10 point penalty to the Club.”
The league also added that the 10pts penalization will come into effect if Southampton finish above the relegation zone this season they will be docked 10 points and relegated or if Southampton is relegated without the points being deducted they start next season on minus 10 points.
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