lordswoodsaints Posted 26 June, 2009 Share Posted 26 June, 2009 Does this mean we are in administration?:-) Link to comment Share on other sites More sharing options...
Torbay Saint Posted 26 June, 2009 Share Posted 26 June, 2009 Profession? Fry has poured petrol on the fire the moment he let Lynam past reception... Let alone allowing him to post on the OS!!! Link to comment Share on other sites More sharing options...
wild-saint Posted 26 June, 2009 Share Posted 26 June, 2009 10,000 season tickets at £300 = £3m; that covers the wage bill for about 6 months (probably longer with the likes of Euell, Dyer, Wright-Phillips, John, Rasiak and possibly Davis gone). Add matchday sales (say 5000 @ £20) and that's £100k per home game, roughly another £200k per month if you assume we generally have two home games per month. That then gives the club a massive amount of breathing space in which to conclude a takeover deal, and if we're still struggling by January then any player with any sort of value gets sold for whatever price someone's willing to pay. There is absolutely no way we should be in the position where, in a week's time, the football club could cease to exist. And if the stay away fans decided to support the club in its hour of need we could have 32,000 x £300 = £9.6million job done. This could be done easily by setting up an escrow account with the administrator and if the fans failed to respond the money is returned. surely 10million would allow us to see out th season? Link to comment Share on other sites More sharing options...
JustMike Posted 26 June, 2009 Share Posted 26 June, 2009 Pen poised above open cheque book eh ?? :confused: Link to comment Share on other sites More sharing options...
Dutch-Saint Posted 26 June, 2009 Share Posted 26 June, 2009 Fry Out ! Link to comment Share on other sites More sharing options...
(not THE) Kevin Moore Posted 26 June, 2009 Share Posted 26 June, 2009 Sadly, this seems to be descending into a complete circus.....hard to believe this is all happening! Really...? This is Saints we're talking about here... Harry The Hat Link to comment Share on other sites More sharing options...
Stirchleysaint Posted 26 June, 2009 Share Posted 26 June, 2009 Great, more misery. Lets all pray that the Swiss don't roll over as well... Link to comment Share on other sites More sharing options...
the stain Posted 26 June, 2009 Share Posted 26 June, 2009 Really...? This is Saints we're talking about here... Harry The Hat Get back to work. Link to comment Share on other sites More sharing options...
Horley CTFC Saint Posted 26 June, 2009 Share Posted 26 June, 2009 Not unless SFC is put into administration, I believe. Thats now fast becoming a probability! Wonder how many points we'll be docked?!? Link to comment Share on other sites More sharing options...
John B Posted 26 June, 2009 Share Posted 26 June, 2009 (edited) Update now on OS http://www.saintsfc.co.uk/page/NewsDetail/0,,10280~1703627,00.html Edited 26 June, 2009 by John B Link to comment Share on other sites More sharing options...
Ashby Saint Posted 26 June, 2009 Share Posted 26 June, 2009 Update on now on OS http://www.saintsfc.co.uk/page/NewsDetail/0,,10280~1703627,00.html So we have a real deadline then. If bids are not forthcoming by next Friday then the club folds Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 Update now on OS http://www.saintsfc.co.uk/page/NewsDetail/0,,10280~1703627,00.html Well the positive of that statement is that there is not another 21 days exclusivity and the interested parties have the contracts in place ready to sign should they wish to go forward. However, if all the parties look at how the FL wish to do things as wrong and something they cant sign then we are buggered up a buggered tree. Doubt we will get any serious info between now and mid next week though. Link to comment Share on other sites More sharing options...
Chez Posted 26 June, 2009 Share Posted 26 June, 2009 completely unacceptable as far as I am concerned... why should the staff work for nothing.... because it might save the club and subsequently their job in the long term. Look around you, people up and down the country are being made unemployed and more and more companies are asking employees to work for free for a week or two to help save the companies from extinction. If the employees don't want to do this then they can leave. I must add that I don't think the situation is nice but it is acceptable and yes if I was asked to do the same at my comapny to try to secure a long term future I would. Link to comment Share on other sites More sharing options...
Gordon Mockles Posted 26 June, 2009 Share Posted 26 June, 2009 Profession? Fry has poured petrol on the fire the moment he let Lynam past reception... Oh, f*ck me Mr Hindsight steps in yet again. I'd love for you to run the club and take over from the administrator. Oh, no I wouldn't. Anyone rich but without companies of a high turnover would be automatically cast to the scrap heap leaving us...Marc Jackson! :smt119 Maybe you should stick to your maritime history and ease the arrogantomoter down a notch or 2! You've had some good points in the past but don't let that go to your head! :smt020 Link to comment Share on other sites More sharing options...
Psycrow Posted 26 June, 2009 Share Posted 26 June, 2009 Worth asking whether Begbies Traynor are willing to work for one week without pay.... They're company isn't close to going out of business. They don't have jobs to save. Work for a week unpaid in an attempt to keep my job? Or be pig headed and lose my job for the sake of one week's wages. Its not a nice decision, but its not a completely unreasonable option for the company to give the staff. Would you rather they said "Lads, we'll definitely pay you this week, but then you'll lose your jobs, and you've no way of out of it, I don't care if you're willing to work for nothing this week" Link to comment Share on other sites More sharing options...
Gordon Mockles Posted 26 June, 2009 Share Posted 26 June, 2009 I think the staff remaining should get a small loyalty bonus if all goes well....non playing staff (i.e. not the players!) Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 They're company isn't close to going out of business. They don't have jobs to save. Work for a week unpaid in an attempt to keep my job? Or be pig headed and lose my job for the sake of one week's wages. Its not a nice decision, but its not a completely unreasonable option for the company to give the staff. Would you rather they said "Lads, we'll definitely pay you this week, but then you'll lose your jobs, and you've no way of out of it, I don't care if you're willing to work for nothing this week" Do the administrators take there money from SLH/SFC before the rest is devided around staff, creditors and anyone else or do they get there wedge when the assetts are sold? If they take there money before then go and tell the staff there is no money in the bank for them unless someone buys the club then I think its pretty harsh. The line of work administrators are in should IMO get there money when they complete the job. If they do a bad job they get nothing. mean while any funds available go to the people that will work to keep the business going. Link to comment Share on other sites More sharing options...
Psycrow Posted 26 June, 2009 Share Posted 26 June, 2009 I still don't understand this. Couldn't they make it explicit that the season ticket had this condition by, say, putting in very big, bold letters on the marketing material "BUY AT YOUR OWN RISK, WE MAY NOT BE ABLE TO COMPLETE ANY OR ALL OF OUR FIXTURES". Seems we have foregone c. £2m in revenue by not selling STs, so I guess there must be an absolutely compelling reason. Christ, half the fans on here are in uproar because the deal to buy the club isn't going exactly as they think it should go, more are in uproar because people they don't know and don't affect are being asked to work for free for 1 week. Can you imagine the reaction if people bought season tickets, no match was played and they coulldn't get their money back? It doesn't matter what is written on the tickets. Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 I think the staff remaining should get a small loyalty bonus if all goes well....non playing staff (i.e. not the players!) I was looking the the little link to say I like this like there is on facebook lol Link to comment Share on other sites More sharing options...
Psycrow Posted 26 June, 2009 Share Posted 26 June, 2009 Do the administrators take there money from SLH/SFC before the rest is devided around staff, creditors and anyone else or do they get there wedge when the assetts are sold? If they take there money before then go and tell the staff there is no money in the bank for them unless someone buys the club then I think its pretty harsh. The line of work administrators are in should IMO get there money when they complete the job. If they do a bad job they get nothing. mean while any funds available go to the people that will work to keep the business going. Administrators only loyalty is to creditors. Big creditors will get paid first, and they themselves will probably be one of those big creditors after all the work they've done. Staff are not big creditors and in that case will probably get nothing if the company goes out of business. Its not nice, but its the real world and the same would happen in any company, not just a football club Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 26 June, 2009 Share Posted 26 June, 2009 And if the stay away fans decided to support the club in its hour of need we could have 32,000 x £300 = £9.6million job done. This could be done easily by setting up an escrow account with the administrator and if the fans failed to respond the money is returned. surely 10million would allow us to see out th season?B-ollocks! I was a stay away fan, and i had put my money in (ST) and felt i could no longer put any other money into the the club, while those c-u-n-t-s Lowe/Wilde were running the club! So your statement is mute as far as i'm concerned!!! Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 Administrators only loyalty is to creditors. Big creditors will get paid first, and they themselves will probably be one of those big creditors after all the work they've done. Staff are not big creditors and in that case will probably get nothing if the company goes out of business. Its not nice, but its the real world and the same would happen in any company, not just a football club There are not many jobs around where you get paid for work up front though. I understand where you are coming from and understand that in that line of business it makes sense to make sure your charges are covered. But you wouldnt give a builder a couple of grand to build you a garage before he starts work would you? SLH appoint administrators to sell off assets in order to satisfy creditors. They could come in and do nothing but fold the company while picking up there wedge. I just think they should be getting there money when they actually achieve something. Link to comment Share on other sites More sharing options...
chrisobee Posted 26 June, 2009 Share Posted 26 June, 2009 Well the fact is that staff are considered preferential creditors, predictably only the Inland Revenue generally are given a greater priority so the amount owed to a creditor does not enter into who gets paid first. Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 B-ollocks! I was a stay away fan, and i had put my money in (ST) and felt i could no longer put any other money into the the club, while those c-u-n-t-s Lowe/Wilde were running the club! So your statement is mute as far as i'm concerned!!! I dont think he was talkin in a past tense. If the people who attended + the stay aways for what ever reason all stumped up the cost of a season ticket then we could have near on 10mil in the bank to help the club in its hour of need - lowe and all that bollerics Link to comment Share on other sites More sharing options...
Psycrow Posted 26 June, 2009 Share Posted 26 June, 2009 There are not many jobs around where you get paid for work up front though. I understand where you are coming from and understand that in that line of business it makes sense to make sure your charges are covered. But you wouldnt give a builder a couple of grand to build you a garage before he starts work would you? SLH appoint administrators to sell off assets in order to satisfy creditors. They could come in and do nothing but fold the company while picking up there wedge. I just think they should be getting there money when they actually achieve something. Should a doctor get paid for trying his hardest to save a patient who eventually dies? Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 Should a doctor get paid for trying his hardest to save a patient who eventually dies? but even a doctor works in advance of his pay check does he not? Link to comment Share on other sites More sharing options...
SaintBobby Posted 26 June, 2009 Share Posted 26 June, 2009 but even a doctor works in advance of his pay check does he not? was Fry paid up front? Link to comment Share on other sites More sharing options...
Psycrow Posted 26 June, 2009 Share Posted 26 June, 2009 was Fry paid up front? I have no idea. But I don't think the timing of the payment is relevant to be honest, as I think in the business they are in they have to ensured they are paid for all their work or else they would go out of business themselves. They only deal with companies who are so strapped for cash they are on the verge of going out of business FFS, its not as if they'll ever have a cash rich customer Link to comment Share on other sites More sharing options...
benjii Posted 26 June, 2009 Share Posted 26 June, 2009 was Fry paid up front? No. Link to comment Share on other sites More sharing options...
Psycrow Posted 26 June, 2009 Share Posted 26 June, 2009 As a relevant aside... I just saw this link on the photography board I'm a member of. Asking staff to take a paycut (which is effectively what working 1 week/month for free is) is a sign of the times... though I do have to wonder that if we were in a slightly less perilous situation, and the club could term it as a paycut rather than "working x time for free" would we have the same reaction on the forum... would we even know. This however is going too far. http://www.rollonfriday.com/ThisWeek/News/tabid/58/Id/144/fromTab/36/Default.aspx Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 was Fry paid up front? I have no idea. someone mentioned the administrators should also be asked to work for a week without pay like the staff. I just mentioned that it would be harsh if the administrators have already taken there cut while asking the staff to go without. If they take there cut when assets are sold then fair enough. But i got the impression they look after themselves before anyone else so thought it worth asking. Link to comment Share on other sites More sharing options...
Thedelldays Posted 26 June, 2009 Share Posted 26 June, 2009 I have no idea. someone mentioned the administrators should also be asked to work for a week without pay like the staff. I just mentioned that it would be harsh if the administrators have already taken there cut while asking the staff to go without. If they take there cut when assets are sold then fair enough. But i got the impression they look after themselves before anyone else so thought it worth asking. does it matter...? Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 does it matter...? to me? no. i have a great job. screw everyone else To be honest I would much rather talk about what players we have coming in and who will be our top scorer next season but due to the situation the chatter on here is more about if the staff at SMS will have a job to go to next season or if we will have a club to support. so yes it does matter Link to comment Share on other sites More sharing options...
Thedelldays Posted 26 June, 2009 Share Posted 26 June, 2009 to me? no. i have a great job. screw everyone else To be honest I would much rather talk about what players we have coming in and who will be our top scorer next season but due to the situation the chatter on here is more about if the staff at SMS will have a job to go to next season or if we will have a club to support. so yes it does matter does it matter in respect that IF fry (who is not employeed by SFC) gets paid in advance meant that staff could not.... the staff were not going to get paid regardless Link to comment Share on other sites More sharing options...
Professor Posted 26 June, 2009 Share Posted 26 June, 2009 If Fry is correct that Pinnacle will only complete the purchase if the FL back down on their conditions, that would end the Pinnacle bid. We must now hope that either the Swiss, or the MJ group pay up for exclusivity asap. Maybe there are other issues for Pinnacle, but if its just the -10 penalty they are missing the point that every other club in the league will consider the penalty to be the minimum necessary in the interests of fairness, for a club discarding its debt. Of the other two bids, the Swiss seems to be favouirite, but we must expect Fry to go for whoever puts their exclusivity money on the table first. Wondering how Saints shirts would look with a white cross on red incorporated into the stripes! Link to comment Share on other sites More sharing options...
SaintBobby Posted 26 June, 2009 Share Posted 26 June, 2009 If Fry is correct that Pinnacle will only complete the purchase if the FL back down on their conditions, that would end the Pinnacle bid. We must now hope that either the Swiss, or the MJ group pay up for exclusivity asap. Maybe there are other issues for Pinnacle, but if its just the -10 penalty they are missing the point that every other club in the league will consider the penalty to be the minimum necessary in the interests of fairness, for a club discarding its debt. Of the other two bids, the Swiss seems to be favouirite, but we must expect Fry to go for whoever puts their exclusivity money on the table first. Wondering how Saints shirts would look with a white cross on red incorporated into the stripes! does there need to be exclusivity? isn't this now just an e-bay auction? Link to comment Share on other sites More sharing options...
RonManager Posted 26 June, 2009 Share Posted 26 June, 2009 If Fry is correct that Pinnacle will only complete the purchase if the FL back down on their conditions, that would end the Pinnacle bid. We must now hope that either the Swiss, or the MJ group pay up for exclusivity asap. Maybe there are other issues for Pinnacle, but if its just the -10 penalty they are missing the point that every other club in the league will consider the penalty to be the minimum necessary in the interests of fairness, for a club discarding its debt. Of the other two bids, the Swiss seems to be favouirite, but we must expect Fry to go for whoever puts their exclusivity money on the table first. Wondering how Saints shirts would look with a white cross on red incorporated into the stripes! There will not be a further exclusivity period according to the MF statement on the OS Link to comment Share on other sites More sharing options...
Greenridge Posted 26 June, 2009 Share Posted 26 June, 2009 does there need to be exclusivity? isn't this now just an e-bay auction? Fry has stated in his update that 'there will not be a further exclusivity period available to potential purchasers due to the tight deadlines...' Link to comment Share on other sites More sharing options...
krissyboy31 Posted 26 June, 2009 Share Posted 26 June, 2009 If Fry is correct that Pinnacle will only complete the purchase if the FL back down on their conditions, that would end the Pinnacle bid. We must now hope that either the Swiss, or the MJ group pay up for exclusivity asap. Maybe there are other issues for Pinnacle, but if its just the -10 penalty they are missing the point that every other club in the league will consider the penalty to be the minimum necessary in the interests of fairness, for a club discarding its debt. Of the other two bids, the Swiss seems to be favouirite, but we must expect Fry to go for whoever puts their exclusivity money on the table first. Wondering how Saints shirts would look with a white cross on red incorporated into the stripes! He said there will be no further exclusivity period. Basically it's the first with the money to complete gets it, over wise game-over!! Link to comment Share on other sites More sharing options...
JustMike Posted 26 June, 2009 Share Posted 26 June, 2009 so, with no further exclusitivity period available, in short we will know the fate of the club by next friday Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 does it matter in respect that IF fry (who is not employeed by SFC) gets paid in advance meant that staff could not.... the staff were not going to get paid regardless I wasnt talking about Fry personally as he would get paid by his company no matter what cak we are in. Say 500k gets paid into the bank for SFC running costs. If the administrators take there wedge out leaving say 250k and the staff have to miss out on there wages that they have worked all month for then I personally think its harsh. If SFC gets sold for 15 mill then that is when I think the administrators should be taking there cut. Any money in the mean time should go towards keeping the business running IMO. I have no idea which way things are done though so im not trying to have a dig at anyone Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 June, 2009 Share Posted 26 June, 2009 so, with no further exclusitivity period available, in short we will know the fate of the club by next friday Nope. thats just when Fry goes to the directors of SFC to discuss the options with them. Oh shiit! Is Lowe still a director of SFC? :scaredshiitlesssmileyemotethingy: Link to comment Share on other sites More sharing options...
JustMike Posted 26 June, 2009 Share Posted 26 June, 2009 Nope. thats just when Fry goes to the directors of SFC to discuss the options with them. Oh shiit! Is Lowe still a director of SFC? :scaredshiitlesssmileyemotethingy: so, we will know the fate of the club then Link to comment Share on other sites More sharing options...
Andyb1 Posted 26 June, 2009 Share Posted 26 June, 2009 And if the stay away fans decided to support the club in its hour of need we could have 32,000 x £300 = £9.6million job done. This could be done easily by setting up an escrow account with the administrator and if the fans failed to respond the money is returned. surely 10million would allow us to see out th season? 32,000 season tickets? LOL do you live on this planet? Link to comment Share on other sites More sharing options...
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