Guided Missile

Don't be a pr! ck. It was on Sky, FFS. He just had to switch his plasma on, as could the dozens of buyers..chuckle....chuckle. According to David Luker, the club can't even afford to fix their franking machine to send out tickets at the moment and this jackal travels to Wolverhampton, with an assistant to feast on the carcass of our club. If someone pays him £10 to burn all the team shirts and it's the highest offer, he'll take it. He's not working for the benefit fans or the club, FFS, he's working for the b(w)ankers who pulled the plug on our life support machine. You might roll the red carpet out, and provide a chaffeur, but I'd prefer to question every pound he bills....

Mark Fry, can you confirm that neither you nor any associates will be paid billable hours and expenses to sit through the game at Molineux? I'm all for you trying to recoup all you can for the creditors, but while the long-suffering fans paid for their tickets and travel expenses, I'm pretty sure they will not be too happy throwing more money at the club, if you billed five grand or so to Southampton Leisure Holdings plc for attending that comedy show and the free after match ****tails.

10 years to life....

I would be suprised if a potential buyer purchases the shares in Southampton Football Club Ltd. unless they pay enough to satisfy all the creditors in full. There will be contingent liabilities going with the shares and I would have thought a new owner would want a clean break with certain knowledge that someone like Barclays, Notts County et al will not be coming after him....

The only asset worth having, from my standpoint. Any new owners don't need to own the ground, just play there. they don't need to own the players contracts, they need new players. They don't need to keep the points, they need to rebuild the team in a less competitive league. What they do need is the "Golden Share", which the Footbal League hold and which may be tougher to get, if new owners come in and think they can p!$$ the Football League about. Read this and prepare for how much worse it could get for us.

SFC Limited are in no position to act independently of SLH plc, thus the Administrator, when it comes to paying any bills. The only bills the Administrator will approve payment of are those that are necessary in the generation of income, via existing operations or disposal of assets, that will enable the creditors to be satisfied....

There is only one body that is paying the bills and that is the Administrator, signing cheques from the value of assets he is selling or income he is banking. The first to get their money will be his company, Begbie Traynor and any party assisting him in raising cash from these two activities. Take it from me, he will be sucking the blood out of SLH plc until there is no more and the dead body will be liquidated by, suprise, suprise, a liquidator. That will be fun, as the directors have to attend a meeting of the creditors, after this unhappy event. Of course, selling the business as a going concern would be his first hope, but I think Bob Hope ranks a bit higher as a live option....

Robbie, he won't sue them even if he is on a "cert" to win. He can't use SLH's assets for that. They are for the creditors, end of...

It's the same thing with "there" and "their"...

On the point of SLH suing anyone, for anything, I think it may be worth pointing out that this will never, ever happen. There is a very good reason for this. The main one is that the legal body responsible for the actions of the plc is no longer the board, but the Administrator. When I say the Administrator, I mean Mark Fry, personally. Not Begbie Traynor, not a Director of SLH, but him as an individual, qualified administrator. He is not legally allowed to risk any assets of the Company that may not be then available to the creditors. If he fails in that duty, he will be personally liable. I can safely say that Mark Fry will be trawling for all the cash he can raise and will not do ANYTHING that involves any degree of risk. The last thing on earth he will do is sue the Football League, so forget that for a game of soldiers and assume that 10 points will be deducted at some point in the future, particularly if we are out of the bottom three come the end of the season. Now, Delia Smith, she will be in a position to sue the Football League....

Apparently Madonna has already bought him....

Spot on....

They shouldn't have loaned us money in the first place, but demanded that the new shareholders who were in control of the company put in more money, as we were loss making at the time. Failing that, they should have got PG's. I think the overdraft was at an idiotic level, as evidenced by the club's inability to repay. Banks don't lend "their" money, they mainly lend other people's money. Barclays tier 1 capital level at the moment probably means that for every £12 lent they have £1 of "their" money backing it up. I have no problem Barclays wanting the loan repaid by SLH. It's just that I don't see why the **** I should help repay it for them....I also don't see why I should also donate towards Begbie Traynor's income...my shares are already worthless. Beyond buying a pie and pint at the Stadium, that's as far as I will go....

Remind me who controls the bank account of the football club, derry....it is the administrator, who is working on behalf of the creditors, not the company.

You aren't very good at English, are you Steve? Your Easter homework is to learn the spelling and meaning of carcase and carcass. Just to help: Carcase the body of slaughtered animal after the removal of the offal.1] Carcass A term for a dead body, typically that of an animal.

In the rush to try to help the cause, there has been a groundswell from the diehard fans to dip into their recession ravaged wallets and send money to Southampton Leisure Holdings plc (Southampton Football Club Limited don't need our money, because that organisation is not in administration, apparently). Having a brutal experience of what the people connected with SLH may be going through, I can understand the reasons behind the cries for money, but I think it may be worth realising who will end up with the cash. Far from benefitting the company, any income is intended to benefit the creditors, but before they get their 50p (hopefully) in the pound, the employees of SLH will stand in front of the secured creditors, with the unsecured creditors glancing nervously over their shoulders at the pot. ALL of these unlucky people will be way behind the administrator, who will make sure that, before anyone gets a penny, his organisation will fill their boots, pockets and anything else they can stuff billable hours into. Before you send Mark Fry a penny, ask him how much his company expects to benefit from this sorry mess. I reckon that the charges will suprise many fans and will, IMHO, be in the hundreds of thousands. After he has had his fill, those idiot bankers at Barclays who gave us the rope to hang ourselves with, will be plucking the pound notes out of the collection buckets, to pay down the overdraft and if there are any "management" fees owing, take this for the champagne at their shareholders dinner. At the end of the day, we will be lucky to see any benefit to the CLUB, even if a million is raised and the only thing that may change is a lower price paid for the carcase by Barry Briefcase and his friends, who have zero idea of what exactly a good investment looks like. For that reason, Mr. Fry, I'm out.....

The points deduction was what was to be implemented the following season. The rule was adopted at an emergency meeting, FFS. Seems unlikely that they would have an emergency meeting and then enforce the adopted rule a season later, doesn't it?

I don't know where this myth came from. The Football League adopted the 10 point deduction rule on the 25th September, 2003 as this article reports: Football league adopts new administration rules Clubs that go into administration will be docked 10 points from next season, the Football League has finally decided. Accountancy Age 26 Sep 2003 This decision was taken yesterday at an emergency meeting in Oxford where chairmen of Football League clubs voted to ratify the controversial proposal. Its primary aim is to prevent a situation as happened at Leicester City FC from repeating itself. Leicester City went into administration last year and used this process to wipe out all its debts before winning promotion to the Premier League without losing any of its top players. League chairman Sir Brian Mawhinney announced the decision, saying: 'This is necessary because the Football League is the guardian of competitiveness in our divisions and we can't have clubs who go into administration gaining an advantage. 'It is a fundamentally different approach and there was a healthy debate - but I pay tribute to the clubs for attaching that significance to it.' Clubs hit with the points deduction will have the right to appeal to an independent body. Derby County went into administration in October, 2003...

Lowe took a 50% pay cut post relegation, as far as I remember.

A Freudian slip, if ever I read one....

Why do you keep peddling this total ******, Wes?

From a guy with over 8,000 posts to his name, many during working hours....

Taking a wild guess: "Other professional bodies and businesses don't want to disassociate themselves from us."

The main problem was that the Saints Trust was only representing a few hundred, out of touch, impressionable Lowe haters who believed that every Saints' fan thought like them. Easily manipulated by Wilde and quickly betrayed by him, many of them now congratulate Barclays for pulling the plug, when, if it was destroying the club they wanted, they should be thanking Wilde and his wasteful spending spree. Why does the Trust now issue a rallying cry, when a year ago, with their messiah Wilde returning as chairman, it may have made a difference and avoided the inevitable relegation we now face? Simple, really. Following a class inspired agenda that included a deliberate destruction of 94% of the club, to get rid of the 6% they hated, the majority of Saints fans realised what the Trust stood for. Now the damage has been done, all that is left is a battle to save face, while a few dreamers fight over the corpse....

He was the Chairman of the Saints Trust at the time it supported Wilde and I thought anyone with an ounce of self-respect would admit the mistake, rather than making a pathetic attempt to blame Lowe for Barclays withdrawing it's support, as in this post: Like you said, though, he doesn't have to apologise for bending over when Wilde came a-courting, but to be peddling the anti-Lowe cr @p at a time like this, given his record of backing losers is pathetic. Remind me not to employ him in any financial or human resource function, when Craig David and I buy the club....