1976_Child Posted 26 June, 2009 Posted 26 June, 2009 http://www.saintsfc.co.uk/page/NewsDetail/0,,10280~1703627,00.html Basically if no deal by this time next week then the club is liquidated (last paragraph). Also, it appears he is ****ed off with pinnacle who are clearly trying to wriggle out of the deal (imho)
Jez Posted 26 June, 2009 Posted 26 June, 2009 No more exclusivity! Just get your bids on the table and get on with it sharpish!
TheCholulaKid Posted 26 June, 2009 Posted 26 June, 2009 Also, it appears he is ****ed off with pinnacle who are clearly trying to wriggle out of the deal (imho) Shut up - you drama queen. Why would they try and 'wriggle out' of the deal? They can just walk away they're under no obligation to buy the club.
buctootim Posted 26 June, 2009 Posted 26 June, 2009 Shut up - you drama queen. Why would they try and 'wriggle out' of the deal? They can just walk away they're under no obligation to buy the club. Because they want their deposit back (imo).
Mouldy Coat Posted 26 June, 2009 Posted 26 June, 2009 Look guys, it's obvious the deal wont happen until last minute. Then they can negotiate a smaller price for Saints. Creditors will accpet something rather than nothing and Mr Fialka or whoever he is callled is in a win win situation. He's bought Saints for 5 million when we are worth at least £20m.....he'll then try and sell to the Swiss
saintjay77 Posted 26 June, 2009 Posted 26 June, 2009 So the Swiss or bust then? Not quite, there is always Marc Jack....... no wait........ ill shut up
SaintBobby Posted 26 June, 2009 Posted 26 June, 2009 Look guys, it's obvious the deal wont happen until last minute. Then they can negotiate a smaller price for Saints. Creditors will accpet something rather than nothing and Mr Fialka or whoever he is callled is in a win win situation. He's bought Saints for 5 million when we are worth at least £20m.....he'll then try and sell to the Swiss Wish that were so. I think - based on Fry's statement - that the problems with the Pinnacle bid are pretty damned intractable.
Katalinic Posted 26 June, 2009 Posted 26 June, 2009 So the Swiss or bust then? Seems that way - the fact they are talking and didn't just walk away completely when they lost out on the exclusivity is a good sign that they are serious.
Mole Posted 26 June, 2009 Posted 26 June, 2009 No more exclusivity! Just get your bids on the table and get on with it sharpish! This is a good move from Fry. Pinnacle do not deserve more time.
1976_Child Posted 26 June, 2009 Author Posted 26 June, 2009 Shut up - you drama queen. Why would they try and 'wriggle out' of the deal? They can just walk away they're under no obligation to buy the club. no need to be rude.
Weston Super Saint Posted 26 June, 2009 Posted 26 June, 2009 So the Swiss or bust then? You're forgetting about Marc Jackson
Mouldy Coat Posted 26 June, 2009 Posted 26 June, 2009 look at Coventry bought in teh nick of time by that hedge fund so they could get the club as cheap as possible
Katalinic Posted 26 June, 2009 Posted 26 June, 2009 (edited) This is a good move from Fry. Pinnacle do not deserve more time. I am not sure it is a tactical move - he has no other choice and it is getting desperate, expect a great deal of brinksmanship from all parties over the next few days. Edited 26 June, 2009 by Katalinic
Weston Super Saint Posted 26 June, 2009 Posted 26 June, 2009 I am not sure it is a tactical move - he has no other choice and it is getting desperate, expect a great deal of brinkmanship from all parties over the next few days. I'm looking forward to the MJ brinksmanship as it always gives me the most amusement
Isabel Healey Posted 26 June, 2009 Posted 26 June, 2009 An absolute farce ! As I've said on two other threads, trying to take on the FL, was lunacy. They are never going to "bend", and even Fry is stating that now, in so many words !!
Katalinic Posted 26 June, 2009 Posted 26 June, 2009 I'm looking forward to the MJ brinksmanship as it always gives me the most amusement I'm not sure a blow up Peter Reid is much of a bargaining chip
solentstars Posted 26 June, 2009 Posted 26 June, 2009 Look guys, it's obvious the deal wont happen until last minute. Then they can negotiate a smaller price for Saints. Creditors will accpet something rather than nothing and Mr Fialka or whoever he is callled is in a win win situation. He's bought Saints for 5 million when we are worth at least £20m.....he'll then try and sell to the Swissgot to agree,it seems all these type of deals seem to happen at the last minute.
Weston Saint Posted 26 June, 2009 Posted 26 June, 2009 There will not be a further 'exclusivity period' available to potential purchasers due to the tight deadlines that we are working to. All contracts have now been prepared so now it is a case that the interested parties have to agree to those contracts, sign them and complete the purchase So anyone coming in are bound by Pinacles offer to the Administrator. If the other two parties interested do not agree all that all bets are off. That is my reading of the situation and one shared by others I have spoken to.
bungle Posted 26 June, 2009 Posted 26 June, 2009 Does anyone know how alpine's administration party is progressing? Presumably they are onto the shorts by now?
OldNick Posted 26 June, 2009 Posted 26 June, 2009 Look guys, it's obvious the deal wont happen until last minute. Then they can negotiate a smaller price for Saints. Creditors will accpet something rather than nothing and Mr Fialka or whoever he is callled is in a win win situation. He's bought Saints for 5 million when we are worth at least £20m.....he'll then try and sell to the Swiss How about this then You want to buy an asset cheap. You realise the adminisrator has little time as it is a football club and the season is due to start. You want to get rid of the competition and so you put up a fall guy to get a exclusivity period and so eat up loads of time.The money paid to get it will be earned back many folds, at the same time the state of the company is seen. You come out of that time and stall for more, this then eats up even more time until it gets to the stage that the administrator takes a massive knock on the price.A valuable asset bought at a snip and the customer base is happy as it looks as though it was to be gone, they are even stupid/desperate enough to stomach a massive point penalty as well, mugs. All fiction and far from the truth as there is no way the people involved would countenance it but if it were pompey!!
buctootim Posted 26 June, 2009 Posted 26 June, 2009 There will not be a further 'exclusivity period' available to potential purchasers due to the tight deadlines that we are working to. All contracts have now been prepared so now it is a case that the interested parties have to agree to those contracts, sign them and complete the purchase So anyone coming in are bound by Pinacles offer to the Administrator. If the other two parties interested do not agree all that all bets are off. That is my reading of the situation and one shared by others I have spoken to. Or the creditors have established a 'this low and no further' price. Accept the price or F off and we'll sell the assets piecemeal
solentstars Posted 26 June, 2009 Posted 26 June, 2009 Does anyone know how alpine's administration party is progressing? Presumably they are onto the shorts by now? yep we got told admin was so easy and it would solve all our problems .
hypochondriac Posted 26 June, 2009 Posted 26 June, 2009 So people will have to accept the Pinnacle offers which they called illegal or the club is no more.
saintjay77 Posted 26 June, 2009 Posted 26 June, 2009 There will not be a further 'exclusivity period' available to potential purchasers due to the tight deadlines that we are working to. All contracts have now been prepared so now it is a case that the interested parties have to agree to those contracts, sign them and complete the purchase So anyone coming in are bound by Pinacles offer to the Administrator. If the other two parties interested do not agree all that all bets are off. That is my reading of the situation and one shared by others I have spoken to. that would be fine if it just concerns SFC but if the buyers have to purchace SLH to avoid a CVA then those contracts will be worthless. fluckin FL have screwed this up big time!
The9 Posted 26 June, 2009 Posted 26 June, 2009 Does anyone know how alpine's administration party is progressing? Presumably they are onto the shorts by now? If he's got any sense at the rate this is all moving he's off negotiating a contract for a regular delivery of barrels.
OldNick Posted 26 June, 2009 Posted 26 June, 2009 There will not be a further 'exclusivity period' available to potential purchasers due to the tight deadlines that we are working to. All contracts have now been prepared so now it is a case that the interested parties have to agree to those contracts, sign them and complete the purchase So anyone coming in are bound by Pinacles offer to the Administrator. If the other two parties interested do not agree all that all bets are off. That is my reading of the situation and one shared by others I have spoken to.I cant see that is the case but you'd know Ron. The contract can always have its price changed surely
OldNick Posted 26 June, 2009 Posted 26 June, 2009 yep we got told admin was so easy and it would solve all our problems . I wonder where StMarco is, full of the joys of spring this time last week.
Gordon Mockles Posted 26 June, 2009 Posted 26 June, 2009 http://www.saintsfc.co.uk/page/NewsDetail/0,,10280~1703627,00.html Basically if no deal by this time next week then the club is liquidated (last paragraph). Also, it appears he is ****ed off with pinnacle who are clearly trying to wriggle out of the deal (imho) He didn't strictly say that but that would seem the case. I would wind it up if I were him. Can't force people to buy us and he's tried every other tactic. The Football League have unshamedly nailed the coffin firmly shut imho and not helped us one bit. Small clubs, Small Fry (no pun intended). I am pretty disgusted by their attitude and bullish tactics. We deserve the -10, I accept that. The Football League - A Members Club - ironic really as that's exactly what they are. MEMBERS!
St Marco Posted 26 June, 2009 Posted 26 June, 2009 Personally i read that thinking he is ****ed off with Pinnacles "stalling" and does not think the -10 issue is a valid reason to keep holidng off. To be fair to Mark Fry he is just doing his job and he did give Pinnacle an extra week to sort it out. You cannot blame him if Pinnacle were not what they wanted us to believe they were. Looking at it i think the Swiss group will now do the deal. They obviously showed him the cash yesterday and probably explained they would most likely accept the points deduction etc. and maybe that is why now he thinks no need for another exclusivity period. His wording just sounds nicer towards that group and not so nice towards Pinnacle. Either way if the deal is not done today from the Pinnacle group it probably never will be, they will join the longlist of people who have missled this club.
St Marco Posted 26 June, 2009 Posted 26 June, 2009 I wonder where StMarco is, full of the joys of spring this time last week. I still think we will be bought out, just not now by Pinnacle, i would place money on it being the swiss group. Hopefully they can get MLT involved if they do.
mattyd Posted 26 June, 2009 Posted 26 June, 2009 Because they want their deposit back (imo). There is no chance of a deposit return. What a daft comment:mad:
Appy Posted 26 June, 2009 Posted 26 June, 2009 look at Coventry bought in teh nick of time by that hedge fund so they could get the club as cheap as possible That was the nick of time before admin, not before going out of business.
buctootim Posted 26 June, 2009 Posted 26 June, 2009 There is no chance of a deposit return. What a daft comment:mad: Please show me the terms of the contract Pinnacle signed so that I can be as well informed as you. Many thanks.
Chez Posted 26 June, 2009 Posted 26 June, 2009 I still think we will be bought out, just not now by Pinnacle, i would place money on it being the swiss group. Hopefully they can get MLT involved if they do. what's this obsession with having Matt at the helm?
saintjay77 Posted 26 June, 2009 Posted 26 June, 2009 Please show me the terms of the contract Pinnacle signed so that I can be as well informed as you. Many thanks. It was made very clear that the period of exclusivity was based on a non refundable deposit. Do you mean the extra costs that Pinnacle/estage agent have laid out to get this far? i.e all was hunky dory till the FL moved the goal posts and now loads of money has been spent to try and sort it out. Pinnacle fail and try to take the FL to court for costs due to not following there own rules?
saint_stevo Posted 26 June, 2009 Posted 26 June, 2009 I am quite impressed by Fry, IMO he has done his best
mattyd Posted 26 June, 2009 Posted 26 June, 2009 Please show me the terms of the contract Pinnacle signed so that I can be as well informed as you. Many thanks. It was made clear in the press statements that the deposit was "non refundable". The plain facts are that there is no money anyway.
buctootim Posted 26 June, 2009 Posted 26 June, 2009 It was made very clear that the period of exclusivity was based on a non refundable deposit. Do you mean the extra costs that Pinnacle/estage agent have laid out to get this far? i.e all was hunky dory till the FL moved the goal posts and now loads of money has been spent to try and sort it out. Pinnacle fail and try to take the FL to court for costs due to not following there own rules? Maybe the exclusivity fee was paid because the contract included a provision to appeal the 10 points and Pinnacle now want to back out because the FL wont budge on that issue. Who knows, all speculation at this stage.
Pancake Posted 26 June, 2009 Posted 26 June, 2009 It was made clear in the press statements that the deposit was "non refundable". Every contract is debatable,a ll you need is the right angle. For example, say I was selling a second hand motor with 4 new tyres and 11 months tax and you gave me a £500 non-refundable "exclusivity" deposit to hold it until you could come and see it. When you rocked up, one of the tyres was bald and the tax ran out in 2 months... would you ask for your £500 back?
OldNick Posted 26 June, 2009 Posted 26 June, 2009 I am quite impressed by Fry, IMO he has done his bestfunniset thing Ive seen on here for ages
Rocker268 Posted 26 June, 2009 Posted 26 June, 2009 Maybe the exclusivity fee was paid because the contract included a provision to appeal the 10 points and Pinnacle now want to back out because the FL wont budge on that issue. Who knows, all speculation at this stage. Orginally the FL gave them the right of appeal and then late last week they changed their minds and gave them a new contract, which is what has led to the delay. Before that Pinnacle were ready to sign last friday and we would be speculating on who was the next player to come in instead today
Pancake Posted 26 June, 2009 Posted 26 June, 2009 Orginally the FL gave them the right of appeal and then late last week they changed their minds and gave them a new contract, which is what has led to the delay. Before that Pinnacle were ready to sign last friday and we would be speculating on who was the next player to come in instead today Exactly, IMHO they could use this "change in what they are buying" as a way to try and get the deposit back.
Thedelldays Posted 26 June, 2009 Posted 26 June, 2009 Does anyone know how alpine's administration party is progressing? Presumably they are onto the shorts by now? indeed...admin was obviously the best thing for this club...lol
Greenridge Posted 26 June, 2009 Posted 26 June, 2009 As many have suggested reading between the lines would seem to indicate the Pinnacle bid has no real chance of completing. What do these people think they're playing at. The Club just lurches from crisis to crisis and when you think things can't get any worse they indeed do.
Pancake Posted 26 June, 2009 Posted 26 June, 2009 "Essentially we are in the same position that we were in this time last month and we remain reliant on the goodwill of the staff to keep the Club running until we are able to sign a deal with an interested party. I have outlined to staff that I hope to be able to give them an update by the end of next week." I thought Fialka said on Sky last night that he had paid the wages for this month...
saint_stevo Posted 26 June, 2009 Posted 26 June, 2009 funniset thing Ive seen on here for ages glad the irony was not lost
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