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New TV rights deal helps Southampton post record turnover

Despite their perilous position in the Premier League, Southampton reported record revenue of 182.3 million pounds ($258 million) for the year ending June 30, 2017, boosted by income growth and participation in last season's Europa League.

St Mary's Football Group Ltd, the club's parent company, said on Friday that profit after tax rose to 34.1 million pounds from 4.9 million a year earlier, while net debt of 38.9 million pounds was converted to net cash of 2.9 million in 2017.

The nearly 47 percent rise in revenue year-on-year was driven mainly by the league's new bumper television rights deal and the club having more live games televised than in the previous campaign.

Southampton were also helped by their participation in the Europa League group stages and a run to the League Cup final, which they lost to Manchester United.

Saints have long been criticised for selling their best players and lost wide forward Sadio Mane to Liverpool in the period for which they reported results.

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