10 Jul 2009

Swiss tycoon buys struggling Southampton

9:28 am on 10 July 2009

The future of former FA Cup winners Southampton has been secured with administrators confirming the club had been sold to Swiss tycoon Markus Liebherr, a member of one of Europe's top business dynasties.

The amount paid for the ailing south-coast club has not been disclosed.

Liebherr, 61, says it is a superb opportunity to rebuild a great club.

Southampton's previous holding company went into administration in April, resulting in a 10-point penalty imposed under Football League rules which will kick in next season, when the 1976 Cup winners play in the third tier of English football for the time since 1960.