The FL have never disputed the club are not in admin, only SLH were, but they tied the two together to appease the other FL members and to prevent appeals from those already penalised in the past.
They are now demanding that clubs that come out of admin must have a voluntary arrangement with creditors for repayments of debt. SFC cannot do this as it has no creditors, it is not in liquidation. SLH cannot do this as its assets are being sold off and the company liquidated.
Therefore:
1. The FL say no CVA or its minus 25! Accept or get lost. Pinnacle say there cannot be a CVA as the club has no creditors to come to an arrangement with
or
2. The FL say no CVA? Oh yes, see your point, let's stick with the -10 then. But this breaks their own rules regarding CVA's and presents complications for the past and future.
or
3. FL say no CVA, I see your point. True SFC were never in administration so can't enter in to one! Sh1t! That means if your were never in admin we can't doc you any points at all can we? Oh dear, that makes us look very foolish but never mind.
or
4. FL say, you are cheating and we don't like it. You are trying to exploit a legal loophole to get by the spirit of the legislation we put in place to prevent this form of manipulation. If you want to play in our league then you have to play fairly. Stop splitting hairs and sign here. Buyers lawyers say, you can't sign with that clause in it, its illegal.
So there you have it. The future of Southampton FC versus the future, as we know it, of the Football League. The FL cannot back down, the purchase (by anyone) of SFC cannot go ahead.
All that is left now is to wait while the all powerful FL decide on what course of action they will accept as a compromise whereby they do not lose face and Saints get to continue. However, the FL will win - they have to.