Beer Engine

Yes OK but it's not f***ing Shakespeare is it?

Your bait of falsehood takes this carp of truth, And thus do we of wisdom and of reach, With windlasses and with assays of bias, By indirections find indirections out.

The few facts that have emerged are quite consistent with a plan whereby Pinnacle have been put into to bat to p1$$ about for 4 weeks in order to drive the club into liquidation and hence make the assets of the club available at a far lower price to whoever is orchestrating the bigger picture. It's possible and anyone (you know who I mean) could be behind such a plan. Will you please stop looking over my shoulder whilst I'm typing - thank you!!!!

Why not - everyone else does?

Ah, of course - my bad ...

I didn't know that Rembrandt played the didgeredoo ...

I just watched the MLT video and the thought that immediately struck me was that there is absolutely no way that MLT is doing other than telling it as he sees it. He is obviously not lying. So either Pinnacle complete or they'll have an irate MLT to answer to ... IMHO not ITK + usual disclaimers etc

Well rumour and opinion are often wrong, but not always. Although everyone here is feeling their way in the dark, between us we managed to figure out what the problem with the FL was (as subsequently confirmed by MLT) and also figure out that preserving a right of appeal would be at best a Phyrric victory (as finally accepted by Pinnacle according to MLT) as well as being a big financial headache for Saints staff in the meantime. After last week's fiasco, I am sure that even you must have SOME misgivings about Pinnacle's ability to finance the deal and run the club effectively - even if those misgivings subsequently turn out to be unfounded?

Very true - hope you're right ...

Very good ...

I understand that a former Saints chairman has some pretty formidable contacts in the City ...

Hi Nick I don't know about you but I am sensing a leveraged buy-out here - that is a situation where Pinnacle use the assets that they are acquiring as security for a loan to buy those assets. IMHO a leveraged buy-out will at best deliver a football club that can stand still - that is, its current receipts (gate money, merchandise, a little bit bit of TV cash, stadium events) cover its current expenses which will presumably increase by the amount of interest needed to fund the loan needed to buy the club in the first place. Once the loan has been serviced there isn't much left to spunk going forward. Man Utd is an obvious example - I can't remember what the annual interest is on their reputed £850 million of debt - but I seem to remember that is consumed something pretty close to their annual operating profit last year. I have no facts - but this is what worries me about the fact that Pinnacle didn't feel big enough to swallow the 10 points straight off and then start pumping cash in.

Their whole handling of the points deduction issue and the non-payment of the staff over what, on the face of it, was a lost cause, has made me very uncomfortable about Pinnacle's ability to run a football club and finance our way back to the CCC or higher. Maybe Pinnacle were just playing a game of brinksmanship in the hope of getting the acquisition price down - which would mean more money to invest in the team. Maybe that was a good thing. I don't know anything - but my instincts are warning me off Pinnacle. So in my febrile imagination, the Swiss are coming across as clean, well-funded, clinical individuals who will march us back to the Premiership with typical Teutonic efficiency. I know nothing - but I am rooting for the Swiss.

That is exactly what is troubling me about the Pinnacle bid.

I may be wrong, I'm not ITK and this is pure speculation but ... ... I've got a feeling that Pinnacle's amazing climb down on the appeal issue might be due to the fact that they have realised that they've overplayed their hand and there is now real competetion for the club in the form of the Cuckoo Clock Consortium. I certainly don't think Pinnacle should have a free run next week if someone else is serious and has the money. Let battle commence!

Actually GM I enjoyed your posts on the basis that they were forthright, earthy and seemed to contain an element of irony and, to an extent, self-parody, that was quite charming. I think you should wait until Pinnacle actually do the business before prostrating yourself entirely because something here most definitely does not add up. In any event their handling of the FL situation and the needless stress that this placed on the staff leads one to suspect that our history of incompetence in the boardroom is far from over.

In my heart of little black hearts I know that you are right. I am trying to be positive about Pinnacle on the basis that any takeover is better than none - but you have to question the wisdom of putting the whole club at risk and not paying the staff for the apparent sake of pursuing an unwinnable argument that is about to be conceded. But like you say, I'd rather the devil I don't know too - bring on the cuckoos!

Yes, I agree with you.

I don't object to your opinions. I may not share them but I don't deny your right to have them and express them. What I object to is that if someone doesn't agree with your views you accuse them of not being a "fan". You obviously aren't prepared to let the matter drop so name a time and place and find out if you've got the guts to wind me up face to face.

According the SSN website this is what MLT said in the interview:- "We're very confident that the issues with the Football League can be resolved on Monday, even if it means conceding on the right of appeal to the ten-point penalty. That does not sound like a done deal to me. It sounds like MLT laying the ground for a compromise deal whereby Pinnacle agree not to appeal against the 10 point deduction in return for the FL agreeing not to impose further sanctions in any event. That would be a result for us and good luck to Pinnacle but it is difficult to see how the FL could agree to this. Anyone know otherwise?

Is there a link to the interview itself?

I have slagged Pinnacle off for nearly a week now but I, too, would love to be proved wrong. If they swallow the 10 points and complete the deal, I will be absolutely delighted. Once I have finished eating my own b011ocks, I will buy 4 season tickets and give these guys unstinting support.

One option for Fry is to take the existing club into next season in administration. He does have a statutory duty to try and rescue the club as a going concern if possible - and this duty could eventually realise his other duty which is to get as much for creditors as possible. He doesn't need to worry about existing debt. If he is satisfied that the club can break even on a day-to-day basis during next season (and this could be achieved by negotiating a mortgage holiday with Aviva and getting the top earning players off the books) then he could start selling season tickets on Monday and raise the money needed to pay the players and staff until gate receipts start to come in.

Agree 100% MLT should go back to his day job as a full-time legend