Cortese hands in resignation

Southampton's executive chairman Nicola Cortese is understood to have handed in his written resignation.

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fictionalemu says...

Iheke, but why would that mean Cortese has to quit? Why couldn't he oversee the sale of the club to new, more willing owners, and then continue in his role. Anyone buying the club who has any sense (which, admittedly, isn't always the case with owners) would see the benefits of keeping him on

Posted 8:03pm 15th January 2014

Iheke (Tottenham Hotspur) says...

It's a really sad state of affairs. Basically, Liebherr was the perfect football financier who left the running of the business to Cortese. The guy realised he was going to die so he sets up a will that basically plots a roadmap to the Premier League - nothing outrageous just Jack Walker style small scale cash infusions. He duly dies and the club gets to the premier league but now there is no roadmap. The family trust now owns something which their original investment was around £20m which is now easily worth 5x that. The guy who actually did the building (Cortese) obviously wants to stick around - he's reached the big time. The club has close to zero debt, the best youth development center in England, and a very talented young manager. He surmises that a modest investment strategy could yet get them to European football, maybe even champions league. The trust say, we've achieved the roadmap - lets convert that £20m to £100m - okay, Cortese loses all he built but that's life. I can't see this ending happily.

Posted 4:25pm 15th January 2014

thejez01 (Arsenal) says...

I can't help but imagine that the Glazer family's Skype accounts have just gone into hyperdrive.

Posted 4:06pm 15th January 2014

dead yeti (Southampton) says...

Still it could be worse, we could be pompey

Posted 3:14pm 15th January 2014

FairyNuff says...

"....he was concerned about the future direction of the club" I thought being CEO meant you had a pretty strong say in the direction of any company? If something goes wrong, surely it his own fault.

Posted 2:19pm 15th January 2014

monstashak (Aston Villa) says...

He did this last year because he wanted tonnes of money to spend. The owners acquiesced and he got the funds. I bet you he was told that they cant spend 35 million again this Summer and he threw a fit and resigned.

Posted 2:17pm 15th January 2014

bobsy (Liverpool) says...

oh dear oh dear. really. oh dear. je suis disappoint

Posted 1:27pm 15th January 2014

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