Southampton have received a £33 million gift.

The family of former owner Markus Liebherr, who died in 2010, have told the Saints they don't have to repay a loan made by the Swiss businessman.

Instead the loan has been turned into shares, leaving Saints, who top the Championship, free of any debt to the Liebherrs.

Chief financial officer Gareth Rogers said: "The club no longer owes the money. The debt has been wiped from the books and is not a liability any more."