MICHAEL Wilde's financial advisor has warned that Saints risk a potentially crippling financial double whammy' if the club fail to win promotion in 2006/07.

Former Football League chairman Keith Harris who has advised the elite of English football in recent years is convinced that Wilde's regime offers a better chance of decent investment than maintaining the boardroom status quo at St Mary's.

Not only will Saints miss out on a parachute payment for 2007/08 of around £6.5m if they are still in the Championship, they will also fail to qualify for the improved Premiership TV deal.

From the start of the 2007/08 season for a three-year period - each of the 30 elite clubs stand to benefit from around 65 per cent MORE per season than they currently receive.

Harris said: "I estimate each Premiership club would gain around £30m from the new TV deal just by being in the top flight.

"That's why it's imperative the existing management team are given the best chance possible with the best levels of investment possible to try and get them up this season by building a strong squad.

"Hopefully short term success could then be translated into long term stability.

"Southampton should be at least a mid-table Premiership club.

"There is no reason why they should not be achieving what the likes of Wigan, Blackburn and Bolton have achieved.

"You can't criticise what the existing management have tried to achieve they have a great stadium. But something has clearly gone wrong.

"It's a shocking tragedy that Southampton got relegated."

For the full interview, don't miss today's Daily Echo.