Swiss most likely now

[tpbury]

I am leaning away from pinnacle now

 

Careful, you'll fall off.

[Give it to Ron]

I am leaning away from pinnacle now

 

I have been doing that since last Friday..the cramp is killing me.

There is only one way this can be fixed...complete the deal.

 

the main problem we are now faced is 'Was the Swiss deal a better one'

[saintbletch]

Basically if someone just buys SFC then under corporate law it is not in admin so with the right legal wrangling I think the FL could be pushed into admitting it. I think they would come up with the -10 points in another way and I wouldnt complain about it but we would only have to satisfy the creditors of SFC.

 

If someone buys SLH and all its assets then that would suggest the price would be higher (even though it carrys much more baggage that in turn would cost allot more) as you have 15mill for SFC plus what ever for stadium, farm, training ground, world class catering and what ever else is linked in but as SLH is legally in admin then all of its creditors would also need to be satisfied to get the CVA and avoid the -15 points. To me that just seems like a crazy option. Why spend so much extra money when the bits you want are legally not in administration?

 

Thats obviously what the League want to happen as it digs them out of a hole they dug themselves. I still think the best way out for all concerned no matter who may or may not buy us is for the league to drum up a set of rules that accepts our situation but still punishes us for the position we are in.

 

Yep I follow all that saintjay77 and I broadly agree with your argument but the bit I emboldened in your post said that:

 

But buy SLH and all its assets surly opens us up to the further -15 points and puts us at risk of league 2 football

 

I don't see how buying SLH (with the caveats we've both agreed) would mean the extra -15. In my opinion from the little I've read on here it would the only way to avoid the punishment the League meters out for not coming out of admin with a CVA.

[EastleighSoulBoy]

Is there a tenuous connection to a Disney character?

 

[Torbay Saint]

Lets all go and buy a euro millions ticket. If there is a winner they will match the Pinnacle bid. Get MLT involved and enter into a 21 day period and get to completion asap. Simples!

[Gingeletiss]

I am leaning away from pinnacle now

 

Given most of your posts of late....you were never leaning to-wards them. You're one of the so called fans on here, that is reveling in the problems we face.....and I said so called fans!!

[saint_stevo]

TDD is in my 'posse'

 

Leave him alone ginge.

 

How anyone can be hopeful of Pinnacle coming through is beyond me, Exclusivity finished a week ago and all we have had since is empty posts from TL and the revelation a letting agency homeboy has saved up his pocket money

[trousers]

Is there a tenuous connection to a Disney character?

 

Nope, not the one I'm thinking of....

[saintjay77]

Yep I follow all that saintjay77 and I broadly agree with your argument but the bit I emboldened in your post said that:

 

 

 

I don't see how buying SLH (with the caveats we've both agreed) would mean the extra -15. In my opinion from the little I've read on here it would the only way to avoid the punishment the League meters out for not coming out of admin with a CVA.

 

Purly based on it costing so much more to satisfy all the creditors. If the new owners have the money to do it then sure we would get the CVA and we just stick with the -10. I have no idea how much money any of the supposed interested parties have so I am just guessing. I think my point is more about why someone would spend so much extra money?

 

If I have a porche that needs a bit of work and I will sell it for a reasonable price on the condition that the buyer also buys my run down house and pays off all my debts I doubt I will get many people seriously interested. And it would be fair to question anyones business sense that seriously thought about proceeding with a deal like that.

 

The deal to me just looks allot worse which IMO just opens it up to chancers that cant see how bad a decission it may be. How said chancers ever made the amounts of money needed based on a decission like that is beyond me which is where I get the idea that we wouldnt satisfy all the dreditors and there for fail to get the CVA and as such be spanked with a further -15 points.

 

All based on ifs and probably looking too far ahead but I just cant see it making sense at any level any more

[gordonToo]

If Pinnacle are dead in the water...and if the Swiss are the new Pinnacle.......then they better get ready for some massive abuse on here....cue the 'moaners'....

 

There will be no reason for this so long as the Swiss present themselves as a credible and professional outfit.

Edited 26 June, 2009 by gordonToo
Typo

[trousers]

So, who's behind the Swiss bid then?

 

Or do their money men want anonymity too?

 

Why hasn't one single bidder since 1st April wanted anyone to know who they are?

 

It surely can't be that embarrassing buying Southampton Football Club, can it?

 

So, who are the Swiss?

 

Answers please.

 

Thanks.

[AwaySaint1]

If Pinnacle would step aside then the Swiss can pay the wages and move forward in buying the club.

They have offered 400K,lets hope they dont go cold while Pinnacle sit on there thumbs!!

 

I just wish they would stop playing games and decide if they want the club or not.

[SFKA South Woodford]

The Swiss will have to buy SLH rather than assets of SLH

 

If SLH is bought then yes the cost will likely be higher, but CVA not an issue.

 

I'm sure all the legal arguments are over the imposition of corporate law by the FL against a company (SFC) which isn't in the eyes of corporate law in Admin and therefore can't conform with a request for a CVA based on Corporate law.

 

That's a mess from the FL and their interpretation of their rules which don't follow the law of the country.

 

As I was attempting to say last Friday, this seems to be the crux of the matter and the only way that a deal for Saints can be done.

[OldNick]

I would think Salz's crew would be the most likely to buy now.

They will come in a heroes saving the club even though we will be on -25 and they will have a good deal. They win all ways

[AwaySaint1]

So, who's behind the Swiss bid then?

 

Or do their money men want anonymity too?

 

Why hasn't one single bidder since 1st April wanted anyone to know who they are?

 

It surely can't be that embarrassing buying Southampton Football Club, can it?

 

So, who are the Swiss?

 

Answers please.

 

Thanks.

 

I know who their accountants are who have shown they have funding but have no idea as to who the client is.

 

If I can get any info I will post it.

 

I can asure everyone the Swiss are not dreamers like some other bids floating around.

[Badger]

I'd also heard that the Swiss group had been pipped to the post by a few hours, and they were quite shocked when Pinnacle gained exclusivity. I just hope that they are still interested with the threat of an extra points deduction, because they sound like the real deal. Apparently they had been looking at us for some time, but the bid also involves property development, which is always complicated. However, money would be no worry and they already had a manager set up ready to go - one who wouldn't be interested unless there was serious money to spend.

 

Any idea as to who ?

[trousers]

I know who their accountants are who have shown they have funding but have no idea as to who the client is.

 

If I can get any info I will post it.

 

Cheers.

Subtle hints will suffice

[brightspark]

I will be extremely unhappy if this continued saga keeps on f***ing us about for another 3 weeks. If the Swiss want to get off to a great start with the fans, get it done by the end of the month. JUST F'IN DO IT, SURELY IT IS POSSIBLE!!!

[OldNick]

with the Swiss franc gaining about 30% on the pound and also us being a snip it is a good time for the Swiss to buy.A positive to consider perhaps

[buctootim]

 

buying a football club is a lot like making love to a beautiful woman............

 

Does it take a year and end with a big let down?

[saintjay77]

I know who their accountants are who have shown they have funding but have no idea as to who the client is.

 

If I can get any info I will post it.

 

I can asure everyone the Swiss are not dreamers like some other bids floating around.

 

Dont you dare come back with any facts!!!!

 

Stick to the nudge nudge wink wink stuff or other ITK's will get upset

[RonManager]

If the Swiss Tonys do come in, I hope they take MLT on board in some capacity, this would help no end in the PR stakes I believe.

[Mole]

[RonManager]

 

No you're not

[OldNick]

If the Swiss Tonys do come in, I hope they take MLT on board in some capacity, this would help no end in the PR stakes I believe.

Not as chairman though. He is not nasty enough IMO

[RonManager]

Not as chairman though. He is not nasty enough IMO

 

If things don't happen sharpish, he'll be the 1st team :smt119

[SaintBobby]

I know who their accountants are who have shown they have funding but have no idea as to who the client is.

 

If I can get any info I will post it.

 

I can asure everyone the Swiss are not dreamers like some other bids floating around.

 

 

On another thread, just a few hours short hours ago, you were saluting MLT given you now "knew" the identity of his mystery funder.

 

Will your new info be from a more reliable source (for example, a source that doesn't provide you with info that is the 100% opposite of the truth?)

Edited 26 June, 2009 by SaintBobby

[S-Clarke]

I think if they do come in (Well we have no choice now) then next season will potentially be a nightmare.

 

We're currently in a position where all of our players could just leave, inc. all the staff. What assurances can they be given? We have no idea about these Swiss guys yet.

 

We may have to start league 1 on however many points with a squad of scholars.

 

We can certainly say goodbye to Davis (thanks alot for sticking with us...just a shame the club has turned into a sham)

 

What the hell the future holds for this club now is a mystery.

[JustMike]

I think if they do come in (Well we have no choice now) then next season will potentially be a nightmare.

 

We're currently in a position where all of our players could just leave, inc. all the staff. What assurances can they be given? We have no idea about these Swiss guys yet.

 

We may have to start league 1 on however many points with a squad of scholars.

 

We can certainly say goodbye to Davis (thanks alot for sticking with us...just a shame the club has turned into a sham)

 

What the hell the future holds for this club now is a mystery.

 

if there even is a future

[Give it to Ron]

If Pinnacle would step aside then the Swiss can pay the wages and move forward in buying the club.

They have offered 400K,lets hope they dont go cold while Pinnacle sit on there thumbs!!

 

I just wish they would stop playing games and decide if they want the club or not.

 

Sorry it makes not a jot of difference what Pinnacle do here apart from complete.

They do not have exclusitivy here any more so the Swiss can do whatever they want.

[saint_stevo]

the longer it goes on and the more i hear all this, the more i think Tony Lynam is a WUM and this is all some elaborate hoax.......

[SFKA South Woodford]

Purly based on it costing so much more to satisfy all the creditors. If the new owners have the money to do it then sure we would get the CVA and we just stick with the -10. I have no idea how much money any of the supposed interested parties have so I am just guessing. I think my point is more about why someone would spend so much extra money?

 

If I have a porche that needs a bit of work and I will sell it for a reasonable price on the condition that the buyer also buys my run down house and pays off all my debts I doubt I will get many people seriously interested. And it would be fair to question anyones business sense that seriously thought about proceeding with a deal like that.

 

The deal to me just looks allot worse which IMO just opens it up to chancers that cant see how bad a decission it may be. How said chancers ever made the amounts of money needed based on a decission like that is beyond me which is where I get the idea that we wouldnt satisfy all the dreditors and there for fail to get the CVA and as such be spanked with a further -15 points.

 

All based on ifs and probably looking too far ahead but I just cant see it making sense at any level any more

 

It has been widely quoted on here in these last few months that to gain a CVA you have to negotiate an agreement on price with those creditors who own 75% of the debt in order to gain the CVA. This would then strengthen the position of both Barclays and Aviva to play a little hard ball, they could ask for a 100% of the monies owed. However, both of them wanted to cash in on the debts owed by the PLC as quickly as possible, so they may still be willing to make a deal with any new owners.

 

It's my understanding that so long as they can reach an agreement with the majority holders of the debt and obtain the CVA for the PLC, then it's the best and also possibly the easiest way to resolve the future of our club. Just so the FL do not in any way have to budge and inch on their position.

[Whitey Grandad]

Does it take a year and end with a big let down?

Somebody's going to get shafted.

[Boris Karloff]

Well based on the money man that they wheeled out, you'd have to question how much money Pinnacle do have. They may have more than one backer, but you have to be a bit naive if, after all the "who is he" debate, you wheel out someone who, appears to not have a pot to **** in. Bigger pot than me mind, so it is stretching the point, but you get my drift.

 

Yep, I think that is one of the things that worries me most about Pinnacle. The whole PR handling of this has been a disaster. They must have known people were going to look into his background, so why didn't they release a full profile of him, detailing where he has made his money? If they can't handle simple PR like this then they're not going to be able to run a football club.

[badgerx16]

I will be extremely unhappy if this continued saga keeps on f***ing us about for another 3 weeks. I

Especially as we start the pre-season games next weekend

 

If things continue to drag along, hooked up on the FL's intransigence, what sort of team, and with whom as manager, will Saints be able to put out ?

[saintjay77]

It has been widely quoted on here in these last few months that to gain a CVA you have to negotiate an agreement on price with those creditors who own 75% of the debt in order to gain the CVA. This would then strengthen the position of both Barclays and Aviva to play a little hard ball, they could ask for a 100% of the monies owed. However, both of them wanted to cash in on the debts owed by the PLC as quickly as possible, so they may still be willing to make a deal with any new owners.

 

It's my understanding that so long as they can reach an agreement with the majority holders of the debt and obtain the CVA for the PLC, then it's the best and also possibly the easiest way to resolve the future of our club. Just so the FL do not in any way have to budge and inch on their position.

 

As far as the FL are concerned thats what they want to happen. Buyers buy SLH and all it contains and the -10 stands with no questions asked.

 

But why would someone buy the whole lot when legally SFC is a seperate company and is up for sale by the administrators?

 

Buy SFC as it is and we will probably get stumped with a total of -25 or get pushed into buying a bag of unwanted waste that will cost to get rid of just to keep a members club happy?

 

I cant see any buyer thinking that either option is a good idea.

[John B]

As far as the FL are concerned thats what they want to happen. Buyers buy SLH and all it contains and the -10 stands with no questions asked.

 

But why would someone buy the whole lot when legally SFC is a seperate company and is up for sale by the administrators?

 

Buy SFC as it is and we will probably get stumped with a total of -25 or get pushed into buying a bag of unwanted waste that will cost to get rid of just to keep a members club happy?

 

I cant see any buyer thinking that either option is a good idea.

 

Although I tend to agree with what you are saying has your point actually been stated by anyone in the know to be the real stumbling point with Pinnacle.

[Alain Perrin]

Why hasn't one single bidder since 1st April wanted anyone to know who they are?

 

Because of fans reaction if (a) they don't think you have enough money and (b) if you say a single word out of place.

 

I'd rather chop my todger off with a rusty hacksaw than be owner or chairman of a football club.

[saintjay77]

Although I tend to agree with what you are saying has your point actually been stated by anyone in the know to be the real stumbling point with Pinnacle.

 

I dont think even the administrators or the FL know the answer to that so its complete speculation.

 

The idea that by accepting the -10 for being in Administration would in turn require us to come out of it via CVA to avoid further points penaltys seems to make sense although no-one official has confirmed that may be the case.

 

No-one has denied it either so the speculation continues.

 

If that is the case I really cant see many thinking its worth buying SLH or any part of it.

 

If the FL come out and say its -10 and no more then things look allot better

[Bakovnetski]

with the Swiss franc gaining about 30% on the pound and also us being a snip it is a good time for the Swiss to buy.A positive to consider perhaps

 

True, the franc must be fairly near the bottom at about CHF1.7=£1. Normal trading is above 2.0, nearer 2.2.

[graymalkin33]

Because of fans reaction if (a) they don't think you have enough money and (b) if you say a single word out of place.

 

I'd rather chop my todger off with a rusty hacksaw than be owner or chairman of a football club.