Reasons for the drop-outs...

[ericofarabia]

FECK me ... :smt099

 

I wish I hadn't started to read this post, I'm even more confused than before :cool:.

 

Having a raging hangover isn't helping matters

 

Just to drag you all down to my level of depression, think about this .... all this heartache over 14 million quid to save the very existence of our club, Skatesmuff will be getting that and enough change to buy a whole Div 1 squad for their toilet seat stealing ponce Johnson :smt118. Don't even get me started on what Moan U will be getting for Ronaldo :mad:

 

Isn't it time The FL came clean and laid their cards on the table as to exactly what it is they expect from whoever buys us, including all the strings attached, to save all this messing about with the livelihoods of not only the players but all the other staff at SFC who don't know if they will get paid from one month to the next or even have a job.

 

Can't The PFA get involved seeing as their members are not being paid on time, and their futures in the balance?

[chrisobee]

Well Man Utd have reportedly paid £16m for Antonia Valencia. Not sure how accurate the figure is but it's obscene that one player is worth so much and yet one club apparently so little. My love for football waned almost as soon as the Premier League was formed and I only really continued to have an interest in club football as Saints are a huge part of my life and memories such as 1976 will never die. Fair to say if we do go under then I'll have no interest in club football at all and that will truly be not only a sad day for all Saints fans but for football in general as it will show once again how little those who should care about teams like Saints and Luton do actually care. Shameful.

[bigtonesfc]

I think we should form a breakaway league we your Lutons,Stockport,Darlo,Bournemouth etc.The Administration League.It will grow yearly as the football league strangles itself!

[The Godfather]

The reason Luton had a massive point deduction was partly to do with their illeagal payments to agents of which they tried to cover up and put the payments through a holding company and were caught red handed.

[CB Fry]

This is my understanding of the situation.

 

SLH is in administration legally speaking.

The F.L didnt buy it and gave SFC the -10 pt deduction

A buyer found and wanted to appeal the -10 pts.

This was declined.

The buyer then says ok well we are ready to complete the purchase.

The F.L then ask SFC for a CVA. This proves that the club has paid its creditors and all are happy.

However, SFC cannot provide a CVA because SFC is not in administration.

Only SLH can provide a CVA but the F.L say no the CVA has to come from SFC.

Technically this is not possible.

So SFC face another 17 pt deduction for not providing a CVA before the season starts.

 

This indeed would put any bidder off i feel because on -27 you would be looking at probable relegation so they wouldnt in effect be buying a League 1 side they would be buying a League 2 side.

 

The way around this is for SFC to be put into administration so they can then provide the CVA to the league. But then the league already say SFC are in administration.... kind of a catch 22.

 

I am not sure how you get out of this......

 

Anyway thats just my theory

 

 

Sorry, this theory is 2+2=5.

 

SLH and SFC are inextricably linked, they were before and they will be following. The league are not going to say "SFC can't provide a CVA" if the new company, or the new SFC business has settled all its debts and has a CVA.

 

There is no catch-22 except for paranoid conspiracists on web forums.

 

As I've said a couple of times, if this was the case then Lynam and co would be milking it to death because it gets them off the hook.

 

 

But surely as the League decided SFC and SLH are linked then if SLH gets a CVA then SFC should avoid the -15?

 

Correct.

[dubai_phil]

To reply to Stu's opening post

 

My reading of the situation was

allegedly

 

On Monday last week the foreign bidders MJ had found were probably prepared to pay a certain sum in cash.

On Tuesday it is likely that their man met Fry and were told they needed more cash because of the amount that Pinnacle had offered

On Wednesday they following the timelines they would have likely accessed the Due Dillgence data

On Friday they were probably expecting to complete Monday/Tuesday

On Monday at 3pm they were most likely booking flights to the UK

On Monday at 8pm they appear to have decided not to travel and pulled out because the cash figure and cash flow was too high a risk based on the figures that Fry wanted

And I have NO idea what happened in those 5 hours to change their minds, neither does anyone else involved

 

Stu I don't think there was anything other than co-incidence, and I sit and wonder what might have happened IF Pinnacle had actually withdrawn BEFORE the cash figure was forced up.

 

(But don't let that train of thought take too anyone away from their pre-conceptions and Pitchfork sharpening!)