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saints_is_the_south

By saints_is_the_south,
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Burger

Burger

Posted
Posted

 

Can't see the FL backing down now on Pinnacle demands, as the Administrator has officially announced 2 other parties could save the club. It may have been better to have no other options then the FL may have been more amenable. So Pinnacle is dead and we wait another week and hope one of the other parties jumps straight in and accepts terms negotiated by Pinnacle. Looks very bleak.

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Saint Billy

Saint Billy

Posted
Posted

Trying to gleam some positive out of Fry's statement, at least there will be no further period of exclusivity, so, if the swiss are up for it they can do it straight away. Here's hoping that they have done their homework already and will put pen to paper asap.

 

Other than that I am joining the mass crap in the pants brigade!

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OldNick

OldNick

Posted
Posted
Trying to gleam some positive out of Fry's statement, at least there will be no further period of exclusivity, so, if the swiss are up for it they can do it straight away. Here's hoping that they have done their homework already and will put pen to paper asap.

 

Other than that I am joining the mass crap in the pants brigade!

Fry's not making them pay to see the books now. lol
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Redondo Saint

Redondo Saint

Posted
Posted

In my opinion there should never have been a period of exclusivity.

 

If there were no deadlines to meet it would not be a problem, but when SFC is facing extinction, why put all the eggs in one basket?

 

Fry's statement also makes me believe he thinks the Pinnacle deal is not all it seems...

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St Matty

St Matty

Posted
Posted
In my opinion there should never have been a period of exclusivity.

 

If there were no deadlines to meet it would not be a problem, but when SFC is facing extinction, why put all the eggs in one basket?

 

Fry's statement also makes me believe he thinks the Pinnacle deal is not all it seems...

 

500 grand to pay the wages for a month?

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OldNick

OldNick

Posted
Posted
In my opinion there should never have been a period of exclusivity.

 

If there were no deadlines to meet it would not be a problem, but when SFC is facing extinction, why put all the eggs in one basket?

 

Fry's statement also makes me believe he thinks the Pinnacle deal is not all it seems...

the club needed 500k to keep going. It was Frys only way of raising it by granting that.
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Webby

Webby

Posted
Posted

Still complicated though isn't it? If the Swiss come in and are asked to sign the contract 'as is' then this could mean more points deductions due to inability to produce a CVA. They'll probably argue that -25 makes the club worth less and offer less money.

 

At the end of the day, what the FL are asking is still 'unlawful'.

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Redondo Saint

Redondo Saint

Posted
Posted
the club needed 500k to keep going. It was Frys only way of raising it by granting that.

 

Understood, but to me this is a flawed strategy.

 

Nothing was gained as we are now in the same situation financially and much closer to the start of the season. A new buyer will know this and be in a better position to get a lower bid accepted.

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Redondo Saint

Redondo Saint

Posted
Posted
I heard the other day something about Jackson’s Farm. Yes, we all no there’s little value to it but it could be worth a lot of money to someone into say property development if the restrictions could be lifted.

 

Good point.

 

There is a local property development company called Pinnacle that may be interested.

Not sure about their ability to raise cash...

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dannysfc

dannysfc

Posted
Posted

Just Watched South Today And Listening To Tony Husband Giving The Latest On Saints I Am Also Now Starting To Wonder That This Take Over May Not Happen After All And That Our Beloved Club May Go Bust Which We All Don't Want To See. But Only Time Will Tell Now And Hopefully Something Good Will Be On The Horizon :D :p ;)!

COYR!!

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Matthew Le God

Matthew Le God

Posted
Posted
Just Watched South Today And Listening To Tony Husband Giving The Latest On Saints I Am Also Now Starting To Wonder That This Take Over May Not Happen After All And That Our Beloved Club May Go Bust Which We All Don't Want To See. But Only Time Will Tell Now And Hopefully Something Good Will Be On The Horizon :D :p ;)!

COYR!!

 

Why the capital letter for each new word? :D

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Ken Tone

Ken Tone

Posted
Posted
Still complicated though isn't it? If the Swiss come in and are asked to sign the contract 'as is' then this could mean more points deductions due to inability to produce a CVA. They'll probably argue that -25 makes the club worth less and offer less money.

 

At the end of the day, what the FL are asking is still 'unlawful'.

 

 

People keep saying this, but there has never been any public suggestion from Fry, or even Lynam, that there is any problem with a cva or any risk of another -15. I would think it is very very likely that the contract gives us the licence with no extra problem but insists on our waiving the right of appeal over the -10 in return for waiving the need for any technical cva, thereby avoiding all the possible complications of our SLH v SFC structure. Everything Fry and Lynam has said indicates that.

 

Nor is there any real indication that anything in the FL's contract is 'illegal' apart from Lynam's saying so once. That is clearly nonsense. Why or how would a body like the FL do something illegal? The closest it could be to 'illegal' is to include a clause forcing us to accept their penalty, which our lawyers felt was not according to the rules.

 

Lynam appears to have been forced into a corner where he won't or can't sign without the chance to appeal the -10. That has been the case for about 10 days now, with absolutely nothing changing apart from his increasingly desperate and hollow messages on here. The warning bells started ringing for me when he switched to saying "I" won't accept this contract and "I" won't sign. If he really were acting for a big player financially, it surely wouldn't be Lynam making such decisions, it would be the backer.

 

As far as I can see the last week or so might well be about pinnacle's trying to establish a position whereby they can claim that it was the FL's unreasonable behaviour that forced them to pull out, and/or that the administrator misrepresented the situation by implying they could appeal. If they could show that they would have a good chance of recovering their costs to date. All in my opinion of course.

 

If they meant what they said earlier in this process they surely would have completed by now.

 

The FL wil not back down. We've all known that from day 1. I bet that if we get another buyer in time who has the money, the FL contract will not be a problem. Accept the -10 and all will go through on the nod in a matter of hours once the 'fit and proper person' test is passed.

 

K.

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SaintRichmond

SaintRichmond

Posted
Posted
Hmmm, to me this says "I'm done with tyre kickers and anonymous time wasters,if you want to buy and have the cash,step this way, if you don't, feck off"

 

 

We were told by Fry that the "tyre kickers" ie Pinnacle , HAD given proof of funds, and then went through a period of exclusivity etc etc .....

 

NOW they are classed as "tyre kickers"

 

MESSAGE TO FRY ...... TELL US, and TELL further prospective bidders, EXACTLY WHAT THE FOOTBALL LEAGUE WANT ........

 

Is it going to be -10 or -15 or WHAT

 

It is OBVIOUS that what the League want HAS put Pinnacle off .....so, if Fry has ANY COMMON SENSE at all, he should realise that the SAME thing)s) will put anyone else off bidding

 

It really IS Simple, surely ???

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krissyboy31

krissyboy31

Posted
Posted
We were told by Fry that the "tyre kickers" ie Pinnacle , HAD given proof of funds, and then went through a period of exclusivity etc etc .....

 

NOW they are classed as "tyre kickers"

 

MESSAGE TO FRY ...... TELL US, and TELL further prospective bidders, EXACTLY WHAT THE FOOTBALL LEAGUE WANT ........

 

Is it going to be -10 or -15 or WHAT

 

It is OBVIOUS that what the League want HAS put Pinnacle off .....so, if Fry has ANY COMMON SENSE at all, he should realise that the SAME thing)s) will put anyone else off bidding

 

It really IS Simple, surely ???

 

Trouble is, if he is that 'upfront' he won't get the £14M he is looking for.

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St_Tel49

St_Tel49

Posted
Posted (edited)

I have a horrible feeling that we have just wasted a whole month and the last 7 days have filled me with no confidence at all. It now seems to me that if the Swiss had got in first we would have been done and dusted by now instead of this protracted nonsense. I really was optimistic about Pinnacle but I am now feeling very, very flat. I just want to buy my season ticket and get back to watching football.

Edited by St_Tel49
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Redondo Saint

Redondo Saint

Posted
Posted
People keep saying this, but there has never been any public suggestion from Fry, or even Lynam, that there is any problem with a cva or any risk of another -15. I would think it is very very likely that the contract gives us the licence with no extra problem but insists on our waiving the right of appeal over the -10 in return for waiving the need for any technical cva, thereby avoiding all the possible complications of our SLH v SFC structure. Everything Fry and Lynam has said indicates that.

 

Nor is there any real indication that anything in the FL's contract is 'illegal' apart from Lynam's saying so once. That is clearly nonsense. Why or how would a body like the FL do something illegal? The closest it could be to 'illegal' is to include a clause forcing us to accept their penalty, which our lawyers felt was not according to the rules.

 

Lynam appears to have been forced into a corner where he won't or can't sign without the chance to appeal the -10. That has been the case for about 10 days now, with absolutely nothing changing apart from his increasingly desperate and hollow messages on here. The warning bells started ringing for me when he switched to saying "I" won't accept this contract and "I" won't sign. If he really were acting for a big player financially, it surely wouldn't be Lynam making such decisions, it would be the backer.

 

As far as I can see the last week or so might well be about pinnacle's trying to establish a position whereby they can claim that it was the FL's unreasonable behaviour that forced them to pull out, and/or that the administrator misrepresented the situation by implying they could appeal. If they could show that they would have a good chance of recovering their costs to date. All in my opinion of course.

 

If they meant what they said earlier in this process they surely would have completed by now.

 

The FL wil not back down. We've all known that from day 1. I bet that if we get another buyer in time who has the money, the FL contract will not be a problem. Accept the -10 and all will go through on the nod in a matter of hours once the 'fit and proper person' test is passed.

 

K.

 

 

Great points.

 

Funny, I also picked up the 'I' in his statements but for a different reason. Most people I know, speaking as part of a team or for an owner would always say 'we' in any statement or discussion. The 'I' tends to smell of too much ego.

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SaintRichmond

SaintRichmond

Posted
Posted
Trouble is, if he is that 'upfront' he won't get the £14M he is looking for.

 

 

If he is scouting around for "New Bidders", he is NOT going to get anywhere near £14M .... and he SHOULD KNOW THAT ..... the only ones left now are the "Vultures looking for scraps "

 

If he doesn't know that, then he should not be doing the job

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trousers

trousers

Posted
Posted

 

 

"If towards the end of next week we are in a situation where no bids for the Football Club are forthcoming, I will meet with the Directors of the Football Club to discuss options."

 

How is he going to track down the directors of the Football Club (Tointon and Jones) when they've said and done f*** all the last three months?

 

What the f*** have our current Football Club Directors been doing the last 3 months and how much have they been paid for doing so?

 

(I base this opinionated rant on having not heard or read anything whatsoever from the current Football Club board since 1st April 2009)

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Thedelldays

Thedelldays

Posted
Posted
OK so I go away for 5 days and I come back to a front page of the forum full of what looks like disaster threads!

 

WTF has happened - can anyone sum up for me please?

 

Tx

the man behind the takeover is not a mate of tony, MLT has not met him, he (apparently) lives with his mum and owns/lets a few houses in london.

 

we get the same sort of updates from tony on here and it seems that pinnacle are more than one person "worth several hundred million" and are looking for a way out..

 

michael falika went on SSN and said that the wages not being paid "was a funny one" and people that know him cannot believe that he would buy saints and that he "is a great talker"..

 

basically, if MLT was not involved (shame that he is) everyone would be slating them for being tyre kickers...

 

there are 3 groups involved, pinnacle, a swiss group and Marc jackson...and if nothing is done by the end of next week it is BYE BYE SAINTS

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Webby

Webby

Posted
Posted
Great points.

 

Funny, I also picked up the 'I' in his statements but for a different reason. Most people I know, speaking as part of a team or for an owner would always say 'we' in any statement or discussion. The 'I' tends to smell of too much ego.

 

Perhaps his statements, or some of them, were written by the backer, no? TL is the backers rep is he not?

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krissyboy31

krissyboy31

Posted
Posted
If he is scouting around for "New Bidders", he is NOT going to get anywhere near £14M .... and he SHOULD KNOW THAT ..... the only ones left now are the "Vultures looking for scraps "

 

If he doesn't know that, then he should not be doing the job

 

Which IMO is the reason the Pinnacle bid has stalled. They agreed a fee with the proviso they could appeal and try and overturn the 10 point penalty, therefore buying a club with a chance of promotion. They then find out that the FL were not only denying that appeal and because of the license issues, could possibly add further sanctions. If another 15 point penalty is added and we start on -25, they are at the very best, buying a club fighting a relegation scrap but most probably already destined for League 2. A big difference in the value of a club with a chance of promotion and one destined with relegation, however because the fee had already been agreed, there was nothing Pinnacle could do about it (other than pull out, of course).

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SaintBobby

SaintBobby

Posted
Posted
Which IMO is the reason the Pinnacle bid has stalled. They agreed a fee with the proviso they could appeal and try and overturn the 10 point penalty, therefore buying a club with a chance of promotion. They then find out that the FL were not only denying that appeal and because of the license issues, could possibly add further sanctions. If another 15 point penalty is added and we start on -25, they are at the very best, buying a club fighting a relegation scrap but most probably already destined for League 2. A big difference in the value of a club with a chance of promotion and one destined with relegation, however because the fee had already been agreed, there was nothing Pinnacle could do about it (other than pull out, of course).

 

That's not right, is it?

 

They can presumably retract their offer and make a new offer at any time.

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Redondo Saint

Redondo Saint

Posted
Posted
Well, when the backer was incognito he was hardly gonna sign off with his name was he?

 

not wanting to further this debate but.. I would not expect a schoolboy error such as not proof reading a press release from anyone dealing in several million pounds.

 

Anyay, off to play golf and hope that there is good news upon my return this afternoon.

 

PEACE

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