8:00am Saturday 2nd February 2008
FORMER chief executive Jim Hone was spot on when he painted a gloomy financial picture in the autumn.
Hone was criticised for releasing a statement to the Stock Exchange in early November saying players would be sold in the January window if no new investment was forthcoming.
The statement read: "In the absence of significant new investment, the directors would require to trade players during the January transfer window in order to generate funds for use as working capital during the remainder of the financial year.
"The sale of players in January would, in the opinion of the directors, be likely to have an adverse impact on the Company's ability to achieve promotion to the FA Premier League.
"Whilst the Company's bankers continue to support the Company, they have indicated that they will not passively sit by and watch the liquidity position of the Company deteriorate over the coming year."
The non executive directors believed that Hone was painting an unnecessarily bleak financial picture.
But Thursday evening's events - the departures of high wage earners Grzegorz Rasiak and Rudi Skacel - seem to excuse Hone's actions.
Saints Trust chairman and Uglier Inside webzine editor Nick Illingsworth said: "Leon was probably happy to get rid of the former executives because he thought Jim Hone would sell the big names in the January transfer window.
"I don't think the SISU deal was right for the club, but Jim Hone did say that if we didn't accept it we might have to sell players in the window.
"The non execs told us they didn't think the financial situation was that bad and that players didn't have to be sold.
"But it looks as if Jim Hone was right.
"Just because we changed personnel in the boardroom, doesn't mean the accounts are any better.
"We obviously needed to sell players."
Illingsworth continued: There is no leadership on or off the field.
"It's up to Leon Crouch to provide that leadership.
"It's time for him to be transparent, to stand up and be big.
"We need transparency."
Beautiful South fanzine editor Daren Wheeler was also critical of the transfer deadline day deals.
"Two of our most high profile players were shuffled out of the back door with barely a whisper," he said.
"I don't like the way it was done "I'll be absolutely fascinated to see how the club can put a positive spin on such a rank deal for Saints.
"Are we that poorly off that getting two high earners off the wage bill can be seen as anything other than a complete and utter disaster for the club?
"Could we not have sold them?"
Wheeler added: "There appears no leadership on or off the pitch.
"I like Leon Crouch, his heart is in the right place, but there has to be people accountable for their actions.
"In any business, the workers are accountable for their actions.
"Where is Michael Wilde? Sunning himself in Barbados? His actions had a big effect on the club and he should be more accountable."
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