New Southampton director Hans Hofstetter says the club's board has inherited a "difficult financial situation". Hofstetter spoke as the Saints posted a net loss of £7.1m in their annual results for the year ending 30 June 2013. The Saints will enter the summer transfer window owing £27m in outstanding transfer fees. "It is a burden that has to be covered and will be covered," Hofstetter tells BBC Radio Solent.

You have a red heart and some spare cash? Yes? Well then this week you have the chance to buy a stake in the Reds. Not the reds from Manchester but the Reds or Army from Sofia. Bulgarian football club CSKA is trying to raise a couple of million on the Sofia stock market. The shares can be purchased via broker Elena Trading. A package of 10 shares will buy you the right to attend the general meeting and to vote. It remains to be seen if this emission will be sufficient to keep Bulgaria's most popular club afloat.