RinNY Posted 19 June, 2009 Share Posted 19 June, 2009 Just face it, whatever the legal shenanigans might be you fully deserve the 10 point penaltyand should just accept it and get on with it. If it was any other club you lot would be saying the same as me Bull! The very idea of clubs that get into financial difficulties being hit by additional penalties by the FL is crap! No club should have to face that, it distorts fair competition. When there are clubs which deliberately engage in financial shenanigans, which is not the case here, the FL could be justified in sanctioning them, but it should be through limits on transfer activities, playing budgets, that sort of thing, not point deductions that twist the proper competition between teams. As to Saints, all we did was build a new stadium to replace one that was utterly out of date, and then have the misfortune to get relegated. Take away the stadium debt, and we'd still be solvent. But take away the new stadium and we're hopelessly uncompetitive! In other words, it was a case of f*cked if you do & f*cked if you don't. And if you are the sort who thinks football clubs should get point deductions, and is gleeful about it, then you are imo no true football fan! Link to comment Share on other sites More sharing options...
bridge too far Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks Tony I like this guy Link to comment Share on other sites More sharing options...
Micky Posted 19 June, 2009 Share Posted 19 June, 2009 TL - top man - was just about to ask for a quick update - many thanks on behalf of us all. Link to comment Share on other sites More sharing options...
gary r Posted 19 June, 2009 Share Posted 19 June, 2009 thanks tony we all hope the deal can be done Link to comment Share on other sites More sharing options...
ladysaint Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Tony for the update my heart rate has gone down a little. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks Tony... good luck with the FL and thank you for taking time to post on here. Much appreciated. Maintain your sense of humour mate... we've learnt to through 14 years of pain! We can wait a couple more days!! Link to comment Share on other sites More sharing options...
alpine_saint Posted 19 June, 2009 Share Posted 19 June, 2009 Reading TL's post, seems to me the FL are intent on killing us rather than suffer ANY loss of face. Why not reduce it to 6 points and have done with it ? Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Tony.. Link to comment Share on other sites More sharing options...
Spades Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks Tony, please please please get this mess sorted out! Link to comment Share on other sites More sharing options...
1976_Child Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Mr Lynam - really looking forward to hearing this deal is done! UP THE SAINTS! Link to comment Share on other sites More sharing options...
channonwindmill Posted 19 June, 2009 Share Posted 19 June, 2009 Nuts to all this. Link to comment Share on other sites More sharing options...
CWD Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Tony, appreciate that - he's a top bloke Link to comment Share on other sites More sharing options...
spain saint Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks for taking time to let us know what is going on but you say "without undue delay", does that mean today? Link to comment Share on other sites More sharing options...
Ewell Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Tony, thankyou for taking the time and trying to put our minds at rest. Good luck with the take over I hope you can get the issues resolved a.s.a.p. Link to comment Share on other sites More sharing options...
kelkel31 Posted 19 June, 2009 Share Posted 19 June, 2009 Sooner rather than later somebody is going to take one of the football authorities to court over a dispute. If there is a full blown legal dissection of companies being denied the right to sue the ruling bodies, it could be, that once challenged the league's rules could be held to be illegal in law. It very nearly happened over the Tevez affair and it could happen here. and theres the money shot. the FL are working on the basis that by ruling with an iron fist nothing can change. this is obviously an ignorant view and if they continue in this vain there is a very real chance that someone will pull the trigger and the football league in its current form will be no more. whether this is a good thing or not is debatable, the current FL board and there rules are ridiculous but the alternative maybe anarchy or NO football league! Link to comment Share on other sites More sharing options...
SaintBobby Posted 19 June, 2009 Share Posted 19 June, 2009 Am hoping these matters can be resolved. Football League being intransigent, but won't let us go to the wall over it in the face of legal advice (if that's what we have) Link to comment Share on other sites More sharing options...
niceandfriendly Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Tony, we are killing ourselves here so you post is appreciated! I do wonder what exactly you mean by this though "A further remaining issue is that of the Football Leagues position over our license." Knowing nothing about the ownership of football clubs or business in general, I wonder how serious an issue this actually is? Link to comment Share on other sites More sharing options...
Bailey Posted 19 June, 2009 Share Posted 19 June, 2009 Really appreciate the update. Please, please, please get this sorted Tony! Lets hope the deal goes through ASAP! Link to comment Share on other sites More sharing options...
SaintRobbie Posted 19 June, 2009 Share Posted 19 June, 2009 Reading TL's post, seems to me the FL are intent on killing us rather than suffer ANY loss of face. Why not reduce it to 6 points and have done with it ? 'Integrity of the competition.' Mawhinney has a point, well 10 of them to be honest! Minus 10 or not MLT will be our next Chairman and TL is a decent bloke! What's more our new manager may be KK!!! I can sleep this weekend. Pinnacle will do it! Link to comment Share on other sites More sharing options...
1976_Child Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Tony, we are killing ourselves here so you post is appreciated! I do wonder what exactly you mean by this though "A further remaining issue is that of the Football Leagues position over our license." Knowing nothing about the ownership of football clubs or business in general, I wonder how serious an issue this actually is? means we can't sell beer next season. Bugger. Link to comment Share on other sites More sharing options...
Justin C Posted 19 June, 2009 Share Posted 19 June, 2009 Well it could be a long weekend! I think it will happen but it is a bit of who will back down first. We could do some national support against the league as it seems a bit off what they are doing but I don't expect to get any! Link to comment Share on other sites More sharing options...
Toadhall Saint Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks Tony - you still seem positive that this will happen - for now thats enough for me. Link to comment Share on other sites More sharing options...
Liquidshokk Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks Tony... You just caught me before I finished off the second bottle of wine.. i can calm it down now lol... Link to comment Share on other sites More sharing options...
gary r Posted 19 June, 2009 Share Posted 19 June, 2009 inmy heart od hearts i hoep the deal goes thorugh, but he F.L aint going to budge over the points deduction.I think we are up creek without a paddle Link to comment Share on other sites More sharing options...
JibMcdo Posted 19 June, 2009 Share Posted 19 June, 2009 If I had to guess, I'd say the FL are withholding our license to make sure we don't appeal against the points deduction. We'll say fine and live with it... and then we'll do it anyway. Link to comment Share on other sites More sharing options...
saints_is_the_south Posted 19 June, 2009 Author Share Posted 19 June, 2009 Thanks for the update Tony even if it doesn't set my mind at rest any more! I can see a few sleepless nights in order until everything is sorted, my heart is beating & stomach turning at this moment! Link to comment Share on other sites More sharing options...
70's Mike Posted 19 June, 2009 Share Posted 19 June, 2009 Thanks Tony, we are killing ourselves here so you post is appreciated! I do wonder what exactly you mean by this though "A further remaining issue is that of the Football Leagues position over our license." Knowing nothing about the ownership of football clubs or business in general, I wonder how serious an issue this actually is? as i understand it the FL "own" a share called the " golden share" in all football league clubs that gives them the right to say you must follow our rules , they are refusing to give us their permission for this deal as it is structured because it makes them look like pratts Link to comment Share on other sites More sharing options...
Appy Posted 19 June, 2009 Share Posted 19 June, 2009 Cheers for the update tony on what is a stressful time for all of us. Link to comment Share on other sites More sharing options...
Wildgoose Posted 19 June, 2009 Share Posted 19 June, 2009 thanks to tony for the update! seconded! Link to comment Share on other sites More sharing options...
eharty9 Posted 19 June, 2009 Share Posted 19 June, 2009 come on SSN wheres the update!!!!! Link to comment Share on other sites More sharing options...
Wildgoose Posted 19 June, 2009 Share Posted 19 June, 2009 I just don't understand the FL and Lord M. You'd think they were out to kill clubs not help them! Link to comment Share on other sites More sharing options...
dubai_phil Posted 19 June, 2009 Share Posted 19 June, 2009 Again, I honestly don't think it is as simple as the "10 point deduction being given back" The FL have to give the playing club the licence to compete. The way that offers were requested for the club stated that 10 points was an issue, so the hold up is NOT simply about getting the 10 points overturned late on a Friday night. It will be a much bigger legal mess than that. The FL have to accept the structure of the deal in order to grant the playing licence. Their previous decision will IMHO make it actually impossible for the to accept the structure. I am sure this is a big catch-22, not about them being simply obstructive. To buy the club it needs to be done like this (oh and the 10 points come back) To do it like this the FL cannot grant a playing licence because they already made a ruling that this was not how it was set up when the old pre admin operated. This won't be about emotions, it's gonna be costly, legal and could take time I also cannot see how Fry could ask for new bids as they would have exactly the same legal problem as it is his structure, so he has to go back to his drawing board and re-package things Oh and there wasn't ever a problem in the exclusivity eh? Think you just found it. lol there are lots of problems in this sort of transaction Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 19 June, 2009 Share Posted 19 June, 2009 According to the breaking news on Echo site, the FL are holding an emergency meeting on Monday!! Do def no takeover until then at earliest!!! Link to comment Share on other sites More sharing options...
shurlock Posted 19 June, 2009 Share Posted 19 June, 2009 cheers tony -makes things a little easier. suggests nothing will be resolved tonight given the old farts and polyester tie brigade at the FL are probably eager for their weekends - notwithstanding a club's security and supporters peace of mind are at stake. Link to comment Share on other sites More sharing options...
Lord Duckhunter Posted 19 June, 2009 Share Posted 19 June, 2009 as i understand it the FL "own" a share called the " golden share" in all football league clubs that gives them the right to say you must follow our rules ' date=' they are refusing to give us their permission for this deal as it is structured because it makes them look like pratts[/quote'] My understanding is that if a New Company is set up to run a Club, then the transfer of the share to the New Company is done under FL terms (Leeds was -15). If an existing Club is taken over then no transfer is needed. I believe Pinnacle are saying they took over the existing SFC, whereas the League are saying they set up a new Company to replace SLH, who were in admin. My personal opinion is that this is bigger than just 10 points. I dont think the league will let SLH be wound up and SFC continue to play in their Competitions. The Leagues line is that SLH & SFC are one and the same, if they stick rigidly to this, then if SLH get wound up, then so do SFC. Any Club wound up can not play in the FL, hense the Blue Square link. I think tonight news is very serious for the future of the Club. Link to comment Share on other sites More sharing options...
dubai_phil Posted 19 June, 2009 Share Posted 19 June, 2009 According to the breaking news on Echo site, the FL are holding an emergency meeting on Monday!! Do def no takeover until then at earliest!!! Hmm who had Tuesday in the sweepstake? Link to comment Share on other sites More sharing options...
Bailey Posted 19 June, 2009 Share Posted 19 June, 2009 What's the likelihood of another group/consortium entering a period of exclusivity with Fry and the Administrators? From what we know it would appear that this Pinnacle deal isn't dead and so would we be right to assume that Fry will continue to talk solely to Pinnacle for the time being to see if these issues can be resolved? Link to comment Share on other sites More sharing options...
RedWillie Posted 19 June, 2009 Share Posted 19 June, 2009 my wife just said 'its only football!'....Grr Link to comment Share on other sites More sharing options...
NickG Posted 19 June, 2009 Share Posted 19 June, 2009 Again, I honestly don't think it is as simple as the "10 point deduction being given back" The FL have to give the playing club the licence to compete. The way that offers were requested for the club stated that 10 points was an issue, so the hold up is NOT simply about getting the 10 points overturned late on a Friday night. It will be a much bigger legal mess than that. The FL have to accept the structure of the deal in order to grant the playing licence. Their previous decision will IMHO make it actually impossible for the to accept the structure. I am sure this is a big catch-22, not about them being simply obstructive. To buy the club it needs to be done like this (oh and the 10 points come back) To do it like this the FL cannot grant a playing licence because they already made a ruling that this was not how it was set up when the old pre admin operated. This won't be about emotions, it's gonna be costly, legal and could take time I also cannot see how Fry could ask for new bids as they would have exactly the same legal problem as it is his structure, so he has to go back to his drawing board and re-package things Oh and there wasn't ever a problem in the exclusivity eh? Think you just found it. lol there are lots of problems in this sort of transaction would it have been more straight forward with your mate's bid? Link to comment Share on other sites More sharing options...
saints_is_the_south Posted 19 June, 2009 Author Share Posted 19 June, 2009 my wife just said 'its only football!'....Grr Argh! Don't get me started on my missus & football. Link to comment Share on other sites More sharing options...
dubai_phil Posted 19 June, 2009 Share Posted 19 June, 2009 What's the likelihood of another group/consortium entering a period of exclusivity with Fry and the Administrators? From what we know it would appear that this Pinnacle deal isn't dead and so would we be right to assume that Fry will continue to talk solely to Pinnacle for the time being to see if these issues can be resolved? What is Fry's job? get the best deal for the creditors. You want to buy Saints tonight - just bung the cash to BT tonight and make it 50 quid more than Pinnacle - technically Fry would have to accept that UNLESS he makes a statement extending But see my post above, I think it is highly unlikely anyone would bid with this issue unresolved, so if it is solved then Pinnacle would be able to complete. If it isn't solved then the structure of the deal may have to be changed and a certain Administrator and his legal counsel could have a lot of egg on his face - so again - unlikely Link to comment Share on other sites More sharing options...
SaintRichmond Posted 19 June, 2009 Share Posted 19 June, 2009 inmy heart od hearts i hoep the deal goes thorugh, but he F.L aint going to budge over the points deduction.I think we are up creek without a paddle Not quite as simple as that .... The League know full well that Saints (as any other team in the same boat) are going to appeal against the 10 point penalty The legal jargan of the FL, is that they are expecting Saints to now say that SAINTS went into Admin, AS WELL as the HOLDING Company ..... THAT is the issue. If the League now treat Saints as a "separate" entity, then they know they cannot legally enforce the 10 point penalty Link to comment Share on other sites More sharing options...
Delmary Posted 19 June, 2009 Share Posted 19 June, 2009 My understanding is that if a New Company is set up to run a Club, then the transfer of the share to the New Company is done under FL terms (Leeds was -15). If an existing Club is taken over then no transfer is needed. I believe Pinnacle are saying they took over the existing SFC, whereas the League are saying they set up a new Company to replace SLH, who were in admin. My personal opinion is that this is bigger than just 10 points. I dont think the league will let SLH be wound up and SFC continue to play in their Competitions. The Leagues line is that SLH & SFC are one and the same, if they stick rigidly to this, then if SLH get wound up, then so do SFC. Any Club wound up can not play in the FL, hense the Blue Square link. I think tonight news is very serious for the future of the Club.I think you could be very close to the truth. Link to comment Share on other sites More sharing options...
Redbul Posted 19 June, 2009 Share Posted 19 June, 2009 Dear All I know many of you are sitting tight eagerly expecting some news, so I'm taking 2 minutes out to make you aware of some issues that we are trying to resolve to complete our takeover. Please respect the fact that I cannot go into the finer details of some of the legal issues - myself, colleagues and clients are bound by a non disclosure agreement in respect of the sensitive details, and this will be adhered to at all times. You may be aware that a brief announcement was made earlier this afternoon confirming that, despite our continued efforts, there are some outstanding issues to resolve prior to us being in a position to completing our takeover. There are to my mind 2 legal issues - questions which need to be answered. These I am sure will be put to bed without delay. A further remaining issue is that of the Football Leagues position over our license. Again, it would be hoped that this can be confirmed without delay. My colleagues and I, clients and the Administrator have made our position clear to the Football League on the detail of this issue. I cannot go into it now, but it is cricitcal that this is resolved, and in a timely manner. We will continue to work hard with the Administrator to resolve this, as this is in my view the final piece of the jigsaw. My hope is that all outstanding issues will be resolved without undue delay, as we are itching to get on with the important job of rebuilding this great Club - both for ourselves, the supports, and the wider community. I hope the next announcement that we can make will be to introduce your new owner and Board, and our opportunity to set out our vision for the future. Best wishes to you all Tony Lynam Thanks for taking the time to post on such a busy day, much appreciated. Link to comment Share on other sites More sharing options...
grammy Posted 19 June, 2009 Share Posted 19 June, 2009 My understanding is that if a New Company is set up to run a Club, then the transfer of the share to the New Company is done under FL terms (Leeds was -15). If an existing Club is taken over then no transfer is needed. I believe Pinnacle are saying they took over the existing SFC, whereas the League are saying they set up a new Company to replace SLH, who were in admin. My personal opinion is that this is bigger than just 10 points. I dont think the league will let SLH be wound up and SFC continue to play in their Competitions. The Leagues line is that SLH & SFC are one and the same, if they stick rigidly to this, then if SLH get wound up, then so do SFC. Any Club wound up can not play in the FL, hense the Blue Square link. I think tonight news is very serious for the future of the Club. Thanks for your cheerful words of comfort. Im off to get bladdered:rolleyes: Link to comment Share on other sites More sharing options...
S-Clarke Posted 19 June, 2009 Share Posted 19 June, 2009 My understanding is that if a New Company is set up to run a Club, then the transfer of the share to the New Company is done under FL terms (Leeds was -15). If an existing Club is taken over then no transfer is needed. I believe Pinnacle are saying they took over the existing SFC, whereas the League are saying they set up a new Company to replace SLH, who were in admin. My personal opinion is that this is bigger than just 10 points. I dont think the league will let SLH be wound up and SFC continue to play in their Competitions. The Leagues line is that SLH & SFC are one and the same, if they stick rigidly to this, then if SLH get wound up, then so do SFC. Any Club wound up can not play in the FL, hense the Blue Square link. I think tonight news is very serious for the future of the Club. I think you're completely spot on - this development is a complete disaster. Link to comment Share on other sites More sharing options...
dubai_phil Posted 19 June, 2009 Share Posted 19 June, 2009 would it have been more straight forward with your mate's bid? No. It is the detailed structure of the bid not the people, that is the hold up (and by that I don't mean the finances, simply just how each bit is actually split out) I am sure it is something a good Insolvency Practioner working with a good Barrister and a decent politician can solve. Link to comment Share on other sites More sharing options...
supaimpy_returns Posted 19 June, 2009 Share Posted 19 June, 2009 golden share? well in that case why is the name of Southampton in the fixture lists?, if this deal is done under duress then the courts wouldn't look at that in a goodlight and the blazers at the FL could end up with more trouble externally than they could cope with. If its FL holding up the deal what happens if a creditor takes on the FL over blocking the deal and causing them financial hardship? Link to comment Share on other sites More sharing options...
SO16_Saint Posted 19 June, 2009 Share Posted 19 June, 2009 were officially fooked Link to comment Share on other sites More sharing options...
darren Posted 19 June, 2009 Share Posted 19 June, 2009 the way i see it is that they will only buy the club if they can appeal? there is no chance the FL will let that happen soooo the deal is dead then. pinnacle should have known this would happen FL never back down Link to comment Share on other sites More sharing options...
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