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MLT and Pinnacle withdraw


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Utter, Utter bull. Total tripe.

 

The negativity has started since it became plain to see that TL was buying time and actually the 'consortium' didn't have a pot to **** in. i.e Tuesday nowards. Wheeling out some Barnet homeboy as the money man didn't particularly help.

 

I shall say again, if someone is put off by a few fans thoughts then they cannot have been that serious in the first place.

 

TL said a number of times they were going to see it through etc and he has plainly lied. And now i expect, gone into hiding. I for one will be playing every charity golf day i can to try to catch up with the bloke.....

 

Well done Steve - that should help encourage new buyers reading the forum. If you fail Steve will fill you in on the golf course.

 

Nice one mate.

 

Lets get behind the next takeover this time everyone shall we? Criticism and threats not required.

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Do you know what this all reminds me off? There is an episode of the Simpsons where Bart goes in and put in a big bid on a picture, and the auctioneer goes 'Sold to the young man!'

Bart then s******s and runs out, shouting 'Suckers'.

So the Auctioneer looks a little peeved and points to a rich business man who was the second highest bidder and says, 'Therefore it is sold to this man!!!'

The rich guy then s******s and runs out, shouting 'Suckers'.

 

There goes Pinnacle, s******ing and running out.

There goes Mark Jackson, s******ing and running out.

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Do you know what this all reminds me off? There is an episode of the Simpsons where Bart goes in and put in a big bid on a picture, and the auctioneer goes 'Sold to the young man!'

Bart then s******s and runs out, shouting 'Suckers'.

So the Auctioneer looks a little peeved and points to a rich business man who was the second highest bidder and says, 'Therefore it is sold to this man!!!'

The rich guy then s******s and runs out, shouting 'Suckers'.

 

There goes Pinnacle, s******ing and running out.

There goes Mark Jackson, s******ing and running out.

 

Closely followed by the one where Bart buys SMS for $1 at a bankruptcy auction?

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exactly my opinion.

 

Have MJ and Pinnacle pulled out as they cannot match what the Swiss have offered therefore saving face?????

 

I would suggest it is more likely that the time has come to put up or shut up, no face saving has been achieved by Wacko or Lynam, so if it were that it backfired.

 

If the swiss unit is Vega and Co his standard offer is £1 plus repaying creditors from future earnings and player sales......

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Well done Steve - that should help encourage new buyers reading the forum. If you fail Steve will fill you in on the golf course.

 

Nice one mate.

 

Lets get behind the next takeover this time everyone shall we? Criticism and threats not required.

 

You seriously believe any serious financier is going to spend time reading a minority fans forum, which is what this is, and be affected by it's messages to the extent of changing a business plan, if they had one?

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Pinnacle and Lie-nham are a bunch of fantasists. All this BS about it "definitely being tomorrow" and "this will be a really important day for the club".

 

What a disaster. The worst thing is that MLT was duped by them. Terrible, but we saw it coming didn't we?

 

Now the squad is disolving before our very eyes and there is no one to coach the remaining players.

 

Dear oh Dear. What a ****ing mess our club is in. I must be honest, the chances of the club still being in business at the begining of next season must be 50/50.

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That's that then.

 

We'll still be bought, but it's a shame MLT has come out of this looking stupid.

 

Tony Lynam has a lot to answer for.

 

 

MLT should never have got involved in a half-arsed scheme in the first place.

Given his support OK, but any knob with a neurone would have told him he was being used.It never made sense so why did he fall for it?

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Absolutely diabolical. Every single thing this club does is tainted by amateurism and idiocy - from statues of club legends to administration and 'buy-outs'. What we have done to surrounded by such ****-wits is beyond me.

 

Tony Lynam, Fiasco (sic) and Pinnacle should hang their heads in shame - they have wasted 5 precious weeks and likely consigned this club to death. That will not be forgotten. All of this b0ll0cks about the 10 points being the issue is a smokescreen - they don't have a pot to p1ss in and they know it (hence Crouch having to pay the £500k deposit). Le Tiss and Crouch should have had a much closer look at what they were getting in to.

 

Fry has proved himself to be totally, utterly and hopelessly out of his depth with an administration of this magnitute. Again, we have taken the cheap option and have paid the price - he needs to have a long hard look at himself.

 

The Swiss are our ONLY hope now. If that doesn't come off it's the end of our beloved club and those listed above, along with Lowe & Co. are responsible.

 

Have never been more furious...

 

100% agree

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Right through this process, I haven't been impressed with Mark Fry - he reminds me too much of Wupert I think (showing up at Wolves with a smug grin to get himself on TV didn't help) - and today that has been confirmed. He clearly has no idea what he's doing - he made the wrong call in giving exclusivity to Pinnacle, which has cost us the time needed to get a legitimate buyer in.

 

I must say for the first time in this process I am gutted and really fear that SFC will be no more - until today I thought someone would save us. All we can hope for now is a late deal - looks like it's going to be a tense week.

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MLT should never have got involved in a half-arsed scheme in the first place.

Given his support OK, but any knob with a neurone would have told him he was being used.It never made sense so why did he fall for it?

 

I don't blame Matt, I do blame Lynam.

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

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You seriously believe any serious financier is going to spend time reading a minority fans forum, which is what this is, and be affected by it's messages to the extent of changing a business plan, if they had one?

 

Nope. But the press do and repeat the stories on here.

 

My original post said 'MIGHT just MIGHT'.

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Absolutely diabolical. Every single thing this club does is tainted by amateurism and idiocy - from statues of club legends to administration and 'buy-outs'. What we have done to surrounded by such ****-wits is beyond me.

 

Tony Lynam, Fiasco (sic) and Pinnacle should hang their heads in shame - they have wasted 5 precious weeks and likely consigned this club to death. That will not be forgotten. All of this b0ll0cks about the 10 points being the issue is a smokescreen - they don't have a pot to p1ss in and they know it (hence Crouch having to pay the £500k deposit). Le Tiss and Crouch should have had a much closer look at what they were getting in to.

 

Fry has proved himself to be totally, utterly and hopelessly out of his depth with an administration of this magnitute. Again, we have taken the cheap option and have paid the price - he needs to have a long hard look at himself.

 

The Swiss are our ONLY hope now. If that doesn't come off it's the end of our beloved club and those listed above, along with Lowe & Co. are responsible.

 

Have never been more furious...

 

Totally agree that this whole sags seems very poorly dealt with all round.........but hey, its Saints, so it should be no surprise to anyone that it all fell apart!

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

 

It's nothing to do with Luton, they were docked extra points for financial irregularities. Our penalty was -10 as per standard.Because Pinnacle were probably trying to get the deal done using some wheeling and dealing that didn't involved getting a proper CVA they were probably threatened with more points deduction if they went down that road. The FL have rules, if you follow them you get docked 10 points and 10 points only.

Anyway our bunch of masterminds will try to blame the FL have no doubt about it, more fools them.As I've always said -10 was nailed on(even welded on) from the day SLH went into admin ,there was no conturning that or a CVA in the state of the art.The rest is down to the prospective buyers and the administrators.

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

 

That would've made for an interesting season,relegated pretty much before we kicked a ball.

 

 

avatar_1623.gif

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Well done Steve - that should help encourage new buyers reading the forum. If you fail Steve will fill you in on the golf course.

 

Nice one mate.

 

Lets get behind the next takeover this time everyone shall we? Criticism and threats not required.

 

It was a joke.

 

Lets all fall for it again next time then yeah?

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

 

That's just speculation. If we were going to get hit by further penalites, presumably that's because Pinnacle delayed and delayed (as it scrambled for funds), ensuring we didnt pay players and staff wages ontime. In other words, the additional 17 points would have been the result of Pinnacle's actions. But I agree to the extent that the FL should have been much more public.

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

 

That makes sense to be honest CS. I think you may be on to something there. Explains MLT's go at the FL yesterday for the points deduction and Pinnacles change of tune over it with regards to accepting the ten points.

 

I suppose many of us were concerned over the brinkmanship being shown last week. I guess the FL just upped the penalty because of the challenge?

 

Now minus 27 would be a complete disaster.

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Were Luton not jumped on because of improper payments to agents and other financial irregularities ? The only way, as I understand it, that additional penalties can be imposed after administrationn is failure to use a CVA, and we have not got to that point yet.

 

Unless, of course, the FL accountants uncovered something unsavoury during their investigations relating to the previous regime(s) :(

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After the revelations of the last week or so, I'm quite glad they didn't pull it off.

 

They didn't seem exactly cash rich, although we don't know who they were intending to borrow the money from - can you imagine the future of the club in their hands?

 

Also as 'Property Consultants' I wonder whether the real interest was the football club or the various freehold properties?

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

 

I can well believe that, but I'd like to know what each penalty is for. ie it's 10 +7 rather than just 17. What's the extra 10 and extra 7 for?

 

Even now, I'd still take it.

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So then who will buy a club who is going to have -27 starting point? Which means almost certain relegation to League Two.

 

I would say nobody

 

And how many fans are going to want to pay money to watch the players just going through the motions as nothing can be achieved. (Yes does sound familiar)

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Anyone else think this isn't the end of Pinnacle and that this is a bit of a bluff? The guys in charge at football league will not want to see the end of a club the size of Southampton. Not only will the FL be seen to not help the club (as is their obligation as governing body), but they will be seen to have actively forced the winding up the club by not allowing an appeal of the 10 point penalty they have imposed, and therefore causing the leading potential bidder to drop out of the race to buy the club.

 

My guess is that news of Pinnacle dropping out is circulating around the football league and they will be calling emergency meetings asap to look at finding a solution.

 

I dont think we've heard the last of this. I wouldn't be surprised if the FL came back with an offer to Pinnacle something along the lines of allowing them the chance to appeal but with the condition that a greater points deduction may be applied if they lose the appeal.

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... it might also explain the player exodus that has just started to occur.

 

the creditors want money and the players want to get paid,it's as simple as that.In a week or so they'll all be gone if there's no buyer. The creditors won't wait for ever, it's probably them pushing players out of the door.

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I can well believe that, but I'd like to know what each penalty is for. ie it's 10 +7 rather than just 17. What's the extra 10 and extra 7 for?

 

Even now, I'd still take it.

 

However, that was the upshot of pinnacle vs FL.

 

That is now dead.

 

Is it not now the case that any new bidder, if agreeing to the -10 for being in admin without argument (be it right or wrong to do so) will only receive that -10 point penalty?

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Nick Illingsworth talks a bit of sense here. Worth a read.

 

http://www.clubfanzine.com/southampton/v2.showNews.php?id=25382

Can't argue with a word of that, to be honest.

 

There are a lot of people who have a lot of explaining to do - it'll be interesting to see if there's any way of actually getting the truth out of these people rather than these "issues" with the Football League being used as an excuse.

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To be fair Scott, its highly likely that posts like this one helped contribute to Pinnacle pulling out.

 

I hope some fans have learnt to shut up and let the process go on without stupid comment and criticism.

 

We just lost a perfect opportunity to sell the club to someone who could unite the fans and cared. Now we take what we get - we will be bought out.... but I hope some of the more impatient and negative posters on here can sleep tonight knowing they MIGHT just MIGHT have helped put off the best deal we could have possibly hoped for.

 

That could not be more utter Boll ox if it was wraped in a soft leather sack and was swinging between teh back legs of a Bull.... 1) you seemed so confident and urged patience which has kind of knoocked your credibilty a bit... and 2) ANYONE worth their professional salt is NEVER going to worry about 50 or so internt scroats....

 

It looks pretty clear now that although MLT and TL grafted hard and had the desire, tehy never ahd the full comitment of the finance. End Of.

 

The whole issue with teh FL is just an excuse...because we all knew that the -10 would never be over turned. As to teh bull about additioanl points deductions, this was NEVER mentioned. The fact remains that the FL would aonly be able to dock additional points if we failed to meet CVAs.... The deal to purchase SFC and SMS was set teh administratopr at teh agreement ofthe creditors - eg a CVA - Because the FL consider us one and the same, teh fact that SLH have CVAs in place following the sale of the club and stadium, would cover us under FL rules... its just a smokescreen to cover the fact that they never really ahd the backers signed on teh line- As such despite their graft they have in fact wasted 5 weeks when those with teh money could have done a deal - MLT wasbrought in because they knew he woudl gain fan support for a bid that now looks about as likely as Jacksons....

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Anyone else think this isn't the end of Pinnacle and that this is a bit of a bluff? The guys in charge at football league will not want to see the end of a club the size of Southampton. Not only will the FL be seen to not help the club (as is their obligation as governing body), but they will be seen to have actively forced the winding up the club by not allowing an appeal of the 10 point penalty they have imposed, and therefore causing the leading potential bidder to drop out of the race to buy the club.

 

My guess is that news of Pinnacle dropping out is circulating around the football league and they will be calling emergency meetings asap to look at finding a solution.

 

I dont think we've heard the last of this. I wouldn't be surprised if the FL came back with an offer to Pinnacle something along the lines of allowing them the chance to appeal but with the condition that a greater points deduction may be applied if they lose the appeal.

 

The FL won't give a stuff about us, they didn't for Leeds a far bigger club than we will ever be.

The FL stuffed Luton, Rotherham and Bournemouth as well so another notch on their bedpost in Saints.

Can anyone show me where this 27 points business comes from apart from a mate of a mate?

More likely Pinnacle realised they didn't have a pot to **** in and scarpered whilst there was still time to get someone else in before Friday.

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Like others i questioned the legitamicy of the Pinnacle group and am not surprised one bit that they have officially pulled out now.

It was obvious the group had no money and was searching to find that guy who would put his hand in his pocket. They never found that guy.

 

They talked the talk but never walked the walk. Even when people like TL were on here saying the deal would be done most people towards the end sussed it out that he and the group were just time wasters. That is a horrible thing to say but that is what they are. People slag off that Marc Jackson guy but they did the same thing so thus must be labbeled the same.

 

What i want to know now is who paid for the exclusivity period. Was it Crouch who paid it as rumoured or was it paid for by the Dyer sale? If that is true then how can a group get exclusivity when a player they have no financial control of is sold?

 

The way i understand it the Pinnacle group have not actually paid anything towards the club, not helped pay wages nor paid for the exclusivity deal.

 

Now the club is not dead it is in the exact same position it has been in for months. A club in admin looking for a new owner. We all wanted MLT to be chairman but that is not to be, a judging him on this whole fiasco then maybe thats not such a bad thing.

 

The club have just got £1m from selling DMG. This must now give the club more time to find a buyer. Maybe Fry as he has been hinting for sometime was not convinced the Pinnacle bid was real and so waited before selling DMG until if/when it looked certain that deal would fall through.

 

I strongly believe the club will still be in buisness this friday and strongley believe we will still be bought out eventually. The questions still remain the same as they have for months, by who and when?

Nothing has changed at all except we now know the Pinnacle group were taking the **** all along.

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To be fair Scott, its highly likely that posts like this one helped contribute to Pinnacle pulling out.

 

I hope some fans have learnt to shut up and let the process go on without stupid comment and criticism.

 

We just lost a perfect opportunity to sell the club to someone who could unite the fans and cared. Now we take what we get - we will be bought out.... but I hope some of the more impatient and negative posters on here can sleep tonight knowing they MIGHT just MIGHT have helped put off the best deal we could have possibly hoped for.

 

While I understand Scott calling Lynam names I don't think it's going to help anyone.

 

However, if someone is going to get involved in football then they have got to have the heart and balls for it because it's a tough business. To suggest that someone with that sort of gumption might walk because of some name calling is stretching it a bit. BUT, here's the point, if someone hasn't the gumption for the business (and suddenly wakes up to the fact) then they will succumb to the name calling. Would you want that sort of eunuch running your club?

 

So maybe, just maybe, Lynam & Co were standing up to the FL? Maybe they drew a line in the sand as a compromise and the FL would not step up to it? Hence the Mexican standoff of the last week or so and finally the man who would sign the cheques says "Feck this for a game of soldiers, I'm out of here".

 

Take our sentiment out of this, because we are biased, would you spend big, big, money on this club? It would be a massive gamble with the FL waiting to punish the slightest error.

 

Wasn't it the likes of Dave Whelan & Co saying that they thought a fairly big club would go one day? Are we that club?

 

Frighteningly, I think the answer may be yes.

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Received a message saying that Football League wanted to:

 

a) Add another 10pt penalty to the 10pts already deducted;

b) Add an additional 7pts to that penalty...

 

Giving us a starting point of -27 - hence the pull-outs today.

 

Don't shoot me, just passing on what I've been told. I guess the precedent was set with Luton.

 

Cheers Rupert and Mikey....great work

 

If this was true i'm sure pinnacle would be broadcasting it to the media. Even if the football world agree we a deserve a 10 point penalty the FL would face a very critical press.

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