Saints future secure after Swiss magnate buys them

Former FA Cup winners Southampton fears over going out of business evaporated on Wednesday as Swiss business magnate Markus Liebherr completed his takeover the League One side for an undisclosed sum.

The 61-year-old paid an undisclosed sum for the club – who at its peak were second in the old First Division in the 1983/84 season – despite the fact they will start next season with minus ten points after that penalty was imposed on them when their parent company went into administration in April.

“I believe we have a superb opportunity to rebuild this great club. This will require resources, planning, hard work and patience,” he told BBC Solent.

“We should not expect instant success, but our fans, employees and stakeholders can expect 100% commitment from me and my team.

“We will assemble a strong management team at every level of the club. We will act rapidly, but also plan for the long term, because I am here for the long term.

Liebherr was attracted by the club’s rich sporting heritage – they won the 1976 FA Cup with a sensational victory as a Second Division club over mighty Manchester United – loyal fan-base, first-class stadium and training facilities.

“I also look forward to the club re-engaging with the fans and the local community. We cannot succeed without their backing.”

Liebherr was on the board of Liebherr Holdings until 2007 and has been running his own group of companies, the Mali Group, since 1994.

Liebherr, 61, is expected to finalise his boardroom line-up at St Mary’s by August, before the new season begins.

Saints manager Mark Wotte was a mightily relieved man.

“I think it looks very good, and it’s about time,” he told BBC South.

“It’s been extremely difficult, there has been lots of worrying about the future of this great club but, hopefully, we can look to a better future.

“The most important thing is that the club will be saved and we can look to a better future and start working to get back to the Championship.”

Southampton’s future had looked bleak last week when a consortium which included former playing legend Matt Le Tissier had pulled out of a deal because the Football League – the governing body of clubs outside the Premier League – were refusing the club to appeal against the 10 point punishment.