would you settle for administration...

[stevegrant]

Feck, if anybody really wanted to buy us we've been on the market for a couple of years. No one wants to buy us.

Au contraire. There's plenty of people who'd like to buy SFC. However, there's not many at all who are actually able to do so.

[ottery st mary]

I still think the poster who suggested ebay was on the right lines. At least you open up the potential market.

[Gordon Mockles]

They have never put their hands in their pockets for cash yet

 

Ahhh, but Lowe and his proxy have not parted with their ‘much revered cash’ because it has not benefitted themselves (they put some money in reverse takeover but purely for a return). Obviously, they would never donate money to the club out of goodwill, or we’d not be in this position. In fact, the only people in recent years that have helped us, from their own pockets, is Crouch (and the Corbett family in the past). Since then, it’s been heads in the trough while our club disintegrates.

 

I’m sure if admin. loomed and a tidy profit on a crumbling football club was available, yet again, Lowe and his proxy would somehow find some money for their own personal gain and some back door to wheedle their way in. It’s happened once, they are sure to try again (Jersey businessman anyone?) If rules or law prevent Lowe, then he’d be sure to be aware of it and have some divisive back up plan. History tells the truth and Wilde was his “tool” (how ironic! LOL) in this example – another could easily be in line for the next “Master Stroke”.

 

However (money men correct me if I’m wrong), I would hope the administrator would take a dim view on Lowe and a good, fair view on the club and realise a solid backer (if there is one) is a more worthwhile approach for the business in comparison to Lowe’s 2 hugely disastrous tenures, ultimately leading us to oblivion (or admin.)

 

Just my thoughts on the matter. Sorry if it was a bit anti-Lowe but I loath the guy. After all, his total disregard for the fans, his ineptitude and barrels of arrogance, his complete incompetency removing Pearson and implementing this failed youth experiment with the unproven Dutchies (and unwanted warranting by being plucked from the great football nation of Dubai!), it’s not surprising he’s unpopular. His smug grin on the television while our club falls apart didn’t win me over!

[trousers]

I have a serious question....(well, serious for me anyway...)

 

IF we go into administration will it be something that happens in a 'big bang' fashion or will there be (public domain) tale-tell signs in the days preceding that someone has kicked off the preliminary stages of the process?

 

And I don't mean circumstantial 'signs' as in: the team playing sh1te, crowds dwindling, parts of the ground being closed, etc, but tangible signs. Isn't there some sort of notice period that the creditors have to give to the debtor (SFC/SLH) to give them opportunity to bail themselves out with one last throw of the dice?

 

Big bang or slow creeping death?

Edited 24 September, 2008 by trousers

[OldNick]

However (money men correct me if I’m wrong), I would hope the administrator would take a dim view on Lowe and a good, fair view on the club and realise a solid backer (if there is one) is a more worthwhile approach for the business in comparison to Lowe’s 2 hugely disastrous tenures, ultimately leading us to oblivion (or admin.)

 

Just my thoughts on the matter. Sorry if it was a bit anti-Lowe but I loath the guy. After all, his total disregard for the fans, his ineptitude and barrels of arrogance, his complete incompetency removing Pearson and implementing this failed youth experiment with the unproven Dutchies (and unwanted warranting by being plucked from the great football nation of Dubai!), it’s not surprising he’s unpopular. His smug grin on the television while our club falls apart didn’t win me over!

I think it was pointed out this morning that the administrator has no responsibility to leave the club in any state for future but only to get in as much as he can to pay the creditors.

[Sheff Saint]

I don't know much about the whys and wherefore's of going into administration.

 

Only thought i would add to the debate is how many clubs that have had 10 points (or more) docked are now in a better position then before they entered administration?

 

Cos all i can think is Bournemouth, Rotherham, Leeds and Luton aren't doing as well as they were before.

[offix]

There may be no "guaranteed benefits" to going into administration, but we can pretty much guarantee there are no benefits to staying in the current situation.

[Whitey Grandad]

Several have, but they predated the new rules.

Hence the new rules. Ipswich was one that went into admin before the new penalties. There were complaints from other clubs that it would be possible to spend all your money on players and then have the slate wiped clean. They considered this an unfair advantage.

[Ken Tone]

I'm sorry to sound patronising but it's obvious so many posting on here have absolutely no idea what administration means or is like.

 

Let's be clear, administration is bad, bad, bad. We'd not only lose points this year and probably next year but even more importantly anything and everything of any value would be sold off, and cheap: training ground almost certainly sold, stadium maybe sold, young players of any promise certainly sold, or released for free to remove from wages bill. Goodbye to any of the current crop of players that you might want to keep... and peanuts for them in return.

 

We'd probaby be left with no decent training facilities, a stadium owned by someone else, (so rent instead of loan payments and no club control of stadium use or income from concerts etc), minus 17 points starting in league 1, and no decent players because we've effectively 'advertised' the young ones this year so they'd find other clubs. Relegation to league 2 would be a very likely consequence therefore, with a long hard road to climb to get back to even where we are now.

 

Long term posters will know me as an occasional poster right back to the days of the original forum, who warned against Wilde when he first rode in on his white horse, and I've no axe to grind for Lowe, or any one else for that matter. I'm just a fan who wants to se his club doing well, but above all surviving.

 

So if you care about the Saints, stop wishing for disaster and get yourself to the next home game and support the lads. Never mind if they deserve it. Never mind of Lowe is a git. This is Saints in trouble. If you're a fan, damn well show it!

 

K.

[Wade Garrett]

Administration would be an unmitigated disaster. Unfortunately it seems to be where we are heading under the leadership of Lowe, who some people think is a good businessman.

 

He has made a sows ear from a silk purse.

[JSL]

I have a serious question....(well, serious for me anyway...)

 

IF we go into administration will it be something that happens in a 'big bang' fashion or will there be (public domain) tale-tell signs in the days preceding that someone has kicked off the preliminary stages of the process?

 

And I don't mean circumstantial 'signs' as in: the team playing sh1te, crowds dwindling, parts of the ground being closed, etc, but tangible signs. Isn't there some sort of notice period that the creditors have to give to the debtor (SFC/SLH) to give them opportunity to bail themselves out with one last throw of the dice?

 

Big bang or slow creeping death?

 

Players and staff having to defer a percentage or all of their wages as the club cant afford to pay them would be a clue, or the club borrowing some money off the PFA to pay the players (and the ensuing transfer embargo until its paid back). Then probably an administrator helping out at the club in an advisory capacity. Then a notice of intention to appoint an administrator is given, which keeps the creditors at bay for a few days, then probably another notice of intention gives the inevitable a few more days.

 

Thats what happened with Bournemouth anyway. And dont forget the person that put the club into administration then funded the club through administration and had an agreement as a preferred bidder (along with whoever he could get to help with money) with the administrator, and is still involved at the club.

[SaintRobbie]

HMRC will only be able to block the CVA if they (and other creditors opposing the CVA) hold 25% or more of the debt. Given the massive sums owed to Norwich Union and Barclays, I'd say it's highly unlikely they'd be able to block it on their own.

 

Even with that information, I still maintain that administration is simply not a road we want to be going down. Simply, there are no guaranteed benefits.

 

I agree with Steve. Administration is not a good option and certainly does not guarantee success even if it gives us all a satisfactory smirk at the fact that Lowe and Wilde loose a small fortune... a little poetic justice to see the plc finally die.

 

Clean sweep like that may work but there are no guarantees that the new owners will be able to rebuild this club.

 

I have typed this boringly since May; but the only way forward is for a united fans, shareholder, chairman and southampton city council effort to sell the Club before we are forced into administration. United we sell!

 

With administration we are likely to lose further - with this effort we might, just might, get the result we hope for.

 

SOUTHAMPTON FC IS FOR SALE. BUY THE SLEEPING GIANT AND RID US OF LOWE FOR GOOD.

[SNSUN]

If we can somehow get ourselves financially stable, and remain in the football league, then that would be a result. Luton Town were at this level only a couple of years ago, and now they appear to be conference-bound. Fingers crossed the finances can be sorted out before we delve into the realms of administration and suffer a points deduction next season.

[1965onwards]

There are plenty of us who believe that without administration,this club will never get itself sorted out,with the idiots we have in charge never giving up hope of recouping their investment.

 

Therefore,we believe that,while not guaranteed to do so,only administration offers us the hope of ridding ourselves of the cancer that inflicts the club.

 

Last week a canoeist had to cut off his own leg as the only way to save his life.That is where Saints are now IOP.

[Ken Tone]

There are plenty of us who believe that without administration,this club will never get itself sorted out,with the idiots we have in charge never giving up hope of recouping their investment.

 

Therefore,we believe that,while not guaranteed to do so,only administration offers us the hope of ridding ourselves of the cancer that inflicts the club.

 

Last week a canoeist had to cut off his own leg as the only way to save his life.That is where Saints are now IOP.

 

But if you look at the history, clubs that do go into administration quite often end up with the same peope in charge afterwards....cf Bournemouth , Leeds. If the club is not an attractive purchase before administration it will be less attractive afterwards and if Lowe and his mates want to carry on afterwards they mght well be the only ones interested.

 

K.

[OldNick]

Administration would be an unmitigated disaster. Unfortunately it seems to be where we are heading under the leadership of Lowe, who some people think is a good businessman.

 

He has made a sows ear from a silk purse.

when he was deposed the silk purse still had some silk left on it, when he returned the silk had been removed the sows ear was rotting and the hire purchase had gone up not down

[Gordon Mockles]

I think it was pointed out this morning that the administrator has no responsibility to leave the club in any state for future but only to get in as much as he can to pay the creditors.

 

You're dead right, I'm a bit rusty on my company administration processes as it was years ago since a good friend succumbed to the dreaded bankruptcy (in the current financial climate, think the administrators [not on here so much] will be busy!) but, on reflection, that’s obvious. Feel a bit dense for no remembering but such is life. They get as much money for the creditors as poss. Usually selling the assets for a pittance mind. Worrying but, I believe, someone will wait in the wings to mop up before this happens. That’s just my view. Makes sense really (much like with Coventry).