Bailey Posted 21 January, 2009 Share Posted 21 January, 2009 have heard similar. Does that mean we won't be signing Christian Dailly? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 21 January, 2009 Share Posted 21 January, 2009 Assuming Saints do go into administration. Who is taking us over? Why is Lowe doing it now and not fighting until the last minute? What does he have planned? Going into administration doesn't necessarily mean that someone will take us over.Administrators run the PLC and all of it's subsidaries. Normally football clubs get taken out of admin by consortiums of "local businessmen".However if no-one can come up with a plan that suits all creditors then the company just gets wound up and liquidated. Link to comment Share on other sites More sharing options...
exit2 Posted 21 January, 2009 Share Posted 21 January, 2009 The problem I have with this rumour is that it has spread so far a field and quickly. The person who told me is an auditor has no connection with Saints and doesnt work for BDO So if this is flying around the finacial sector and city, and it isnt true then it is of course some big hoax? What would this gain? A down turn in the share price, to undermine Lowe I dont know Link to comment Share on other sites More sharing options...
Window Cleaner Posted 21 January, 2009 Share Posted 21 January, 2009 Does that mean we won't be signing Christian Dailly? If only we hadn't yet signed Rudi Skacel. Link to comment Share on other sites More sharing options...
aintforever Posted 21 January, 2009 Share Posted 21 January, 2009 Assuming Saints do go into administration. Who is taking us over? Why is Lowe doing it now and not fighting until the last minute? What does he have planned? That's what I am worried about, if it is announced in Feb it all looks suspiciously like a plan. This Poortvleit thing makes no sense, neither does signing players just before admin or going into admin when you are just a point of safety. Link to comment Share on other sites More sharing options...
saint.tom.clancy Posted 21 January, 2009 Share Posted 21 January, 2009 Yeah, ive also heard an announcement in the first week of feb. Real shame if its true Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 21 January, 2009 Share Posted 21 January, 2009 Hate to say 'I told you so'... We said this was Lowe's plan all along. COME ON LEON - SAVE US. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 21 January, 2009 Share Posted 21 January, 2009 That's what I am worried about, if it is announced in Feb it all looks suspiciously like a plan. This Poortvleit thing makes no sense, neither does signing players just before admin or going into admin when you are just a point of safety. The timing of it probably means that some-one has given us until Xth February to pay a debt we can't afford to pay.To protect the company from legal action to obtain reparation of only that debt we ask to go into administration. Everything goes on hold and the debtor who has started proceedings has to wait like everybody else. Otherwise we might not be able to pay our staff becuase the court has ordered us to sell Jacksons Farm (for example) to pay the 15p we owe the printer. Link to comment Share on other sites More sharing options...
alpine_saint Posted 21 January, 2009 Share Posted 21 January, 2009 An awful, awful day. Although this may be beneficial in the long, long run, it still feels bad. I pray the club comes out the other side of this. 125 years of history hanging by a thread..... Link to comment Share on other sites More sharing options...
Window Cleaner Posted 21 January, 2009 Share Posted 21 January, 2009 Hate to say 'I told you so'... We said this was Lowe's plan all along. COME ON LEON - SAVE US. I doubt if he has the money, 2 million (or whatever it is he's always bandying about) won't be anywhere near. Needs to be somewhere near 12/15 million. Link to comment Share on other sites More sharing options...
St Marco Posted 21 January, 2009 Share Posted 21 January, 2009 I earlier received a message saying Admin is due on 3rd Feb, so it might be that the rumour is flying around quickly and not true. But if we were going into admin it would have to be before the march deadline? I think if you go into admin before March you get the 10 points deduction this year, if you go into admin after that you get it next year. Basically meaning if we go into admin before March were relegated for sure. And if we go into admin afterwards we will probably be starting life in league 1 with minus 10 points. If we are that close to admin then it makes more sense to go into admin now and accept relegation this year rather then risk it for 2 seasons in a row. As i said in another thread it is inevitable we will be going into admin simply because we are losing more and more money. The offers for players obviously have not come in and that was what Lowe was gambling on. He probably felt he could return to our club with no money, bring in a complete numpty as a manager on the cheap but sell a few players and then will be seen as the guy who saved our club if we managed to survive. Well looks like it failed on all accounts then. I really do wonder now if that it is true Lowe returned simply to get revenge on everyone. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 21 January, 2009 Share Posted 21 January, 2009 I doubt if he has the money, 2 million (or whatever it is he's always bandying about) won't be anywhere near. Needs to be somewhere near 12/15 million. Leon has more than 2 million in the bank. When LPE was part of a management buyout, he made millions. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 Going into administration doesn't necessarily mean that someone will take us over.Administrators run the PLC and all of it's subsidaries. Normally football clubs get taken out of admin by consortiums of "local businessmen".However if no-one can come up with a plan that suits all creditors then the company just gets wound up and liquidated. Is the local businessman Lowe? Link to comment Share on other sites More sharing options...
1965onwards Posted 21 January, 2009 Share Posted 21 January, 2009 Some people seem to be assuming that we might have a choice. If the bank say no to any new money we are insolvent,and thats that. Link to comment Share on other sites More sharing options...
saintwarwick Posted 21 January, 2009 Share Posted 21 January, 2009 Players become free agents when we go into admin as far as i am aware. I thought all player's contracts were effectively invalidated on entering adminsitration. If the players are on contracts they become assets that can be sold as far as I'm aware. Link to comment Share on other sites More sharing options...
1965onwards Posted 21 January, 2009 Share Posted 21 January, 2009 Don't be daft Window. Won't need to be anwhere near that figure. Link to comment Share on other sites More sharing options...
Bailey Posted 21 January, 2009 Share Posted 21 January, 2009 Surely MLT would get involved in some way if we did enter administration? I can't imagine him being happy to sit back and watch Saints fall apart. Even if he acted as a figurehead of a consortium? One thing is for sure, it would unite the fanbase right from the off. Link to comment Share on other sites More sharing options...
JustMike Posted 21 January, 2009 Share Posted 21 January, 2009 An awful, awful day. Although this may be beneficial in the long, long run, it still feels bad. I pray the club comes out the other side of this. 125 years of history hanging by a thread..... 2nded :-( Still dont get why Fulthorpe and indeed Crouch have been so quiet. Link to comment Share on other sites More sharing options...
Katalinic Posted 21 January, 2009 Share Posted 21 January, 2009 The leaking of this if true coupled with the Sale article leads me to wonder if there is something going on behind the scenes - is there brinksmanship at play here? Link to comment Share on other sites More sharing options...
JustMike Posted 21 January, 2009 Share Posted 21 January, 2009 Surely MLT would get involved in some way if we did enter administration? I can't imagine him being happy to sit back and watch Saints fall apart. Even if he acted as a figurehead of a consortium? One thing is for sure, it would unite the fanbase right from the off. yes and get rid of lowe and wilde Link to comment Share on other sites More sharing options...
Katalinic Posted 21 January, 2009 Share Posted 21 January, 2009 2nded :-( Still dont get why Fulthorpe and indeed Crouch have been so quiet. I don't believe they would want to see the club slip into administration....nor would Lowe, he loses the value of his shares, so who gives in first? Link to comment Share on other sites More sharing options...
1965onwards Posted 21 January, 2009 Share Posted 21 January, 2009 SW,think FA or League rules state that players of clubs in admin. have to cancel their contracts,so that they can try to find other clubs. Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 21 January, 2009 Share Posted 21 January, 2009 (edited) This is absolutely reliable - PLC board will announce 1st week of Feb that company is entering administration. This is info I have obtained this afternoon from a wholly credible source. An absolutely massive blow, as I read this as relegation now a certainty. While it may in the long term prove a blessing in disguise, this will prove the absolutely bottom point we have reached for many decades. I am gutted tonight TBH! Why does it have to be a secret? IF the "source`s" identity has to be kept a secret then the said source should have kept ther gob shut in the first place.... So come on spill the beans,the "source" deserves no loyalty as they have shown none theirselves.. Unless of course it is a ******... Edited 21 January, 2009 by ALWAYS_SFC Link to comment Share on other sites More sharing options...
bridge too far Posted 21 January, 2009 Share Posted 21 January, 2009 Exit 2 - you spoke of BDO. Are BDO Stoyward to be appointed as adminstrators then? Link to comment Share on other sites More sharing options...
lordswoodsaints Posted 21 January, 2009 Share Posted 21 January, 2009 this is a hoax and i dont believe a word of it.we have now had two rumours about the club going into admin,both started by low post count users who really havnt contributed nothing else to the general chat on this board.......they have to be pr plants who have been told to join and cause mischief. there are a lot of well connected users on here who have a good strike rate when it comes to rumours and none of them have heard a thing .....i dont buy it im afraid. i hope the mods are busy checking the ip's. Link to comment Share on other sites More sharing options...
Ponty Posted 21 January, 2009 Share Posted 21 January, 2009 Well yeah, but there's nothing untoward. Link to comment Share on other sites More sharing options...
St Marco Posted 21 January, 2009 Share Posted 21 January, 2009 If the players are on contracts they become assets that can be sold as far as I'm aware. Yep 100% true. People seem to think once you go into admin someone turns off the lights and thats it. The admin team will keep the club running within its means but recoup the money owed by selling off assets (players/business' etc..). All the players who have a contract will be sold off or could potentially walk for nothing if it costs to much to pay them each week (cutting loses), for example if say Euell had a year left on his contract it would make more financial sense to terminate contract mutually then keep him here. Because each week you still have to pay him. So the longer it takes to find a buyer the more you pay. Link to comment Share on other sites More sharing options...
exit2 Posted 21 January, 2009 Share Posted 21 January, 2009 this is a hoax and i dont believe a word of it.we have now had two rumours about the club going into admin,both started by low post count users who really havnt contributed nothing else to the general chat on this board.......they have to be pr plants who have been told to join and cause mischief. there are a lot of well connected users on here who have a good strike rate when it comes to rumours and none of them have heard a thing .....i dont buy it im afraid. i hope the mods are busy checking the ip's. To be honest LWS, As I said earlier I was told about this and he has nothing to gain or lose, as no connection with Saints. So either it is true and is doing the rounds in the money / city cirlces or it is a hoax Link to comment Share on other sites More sharing options...
badgerx16 Posted 21 January, 2009 Share Posted 21 January, 2009 i hope the mods are busy checking the ip's. What's to prevent a 'plant' posting from their home ISP account ? The IP thing only works when they are coming from a traceable sub-net, which was the mistake Lowe's lackies made last time. I'm just praying that this IS simply mischief making. Link to comment Share on other sites More sharing options...
EBS1980 Posted 21 January, 2009 Share Posted 21 January, 2009 I doubt if he has the money, 2 million (or whatever it is he's always bandying about) won't be anywhere near. Needs to be somewhere near 12/15 million. So why do people think Lowe will pick us up on the cheap when we go into administration? He's not got access to that kinda money either!?!? Link to comment Share on other sites More sharing options...
Mole Posted 21 January, 2009 Share Posted 21 January, 2009 The problem I have with this rumour is that it has spread so far a field and quickly. The person who told me is an auditor has no connection with Saints and doesnt work for BDO. So if this is flying around the finacial sector and city, and it isnt true then it is of course some big hoax? What would this gain? A down turn in the share price, to undermine Lowe I dont know Assume it's a false story. Why would Charlie Sale run with it him being a Lowe Luvvie? If it's false i don't think it's to undermine Lowe, i'd say the opposite. If it's a false story and it came from Lowe what would Lowes next move be? A story on the OS basically saying the measures he's taken have had a positive effect on the mess he inherited and he pleased to announce that administration will not happen this season. Cue his rat pack proclaiming Lowe a saviour. Lowe knows he has fans who are with him no matter what, and he knows he has fans who are against him no matter what, but it's the floaters he wants on side and if this story is false i believe it's an attempt to win back the floaters by giving his rat pack some ammo. The protests we saw on Saturday will have alarmed Lowe and he is a calculating failed politician. I would put nothing past him now that he's a cornered animal. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 21 January, 2009 Share Posted 21 January, 2009 Sort of explains why Lowe has been so vocal in blaming Crouch continually since November for the financial state of the CLub. Deflecting the blame... I suspect we'll hear alot more of this in recent weeks. Watch those who contributed to killing this club fight it out over blame rather than searching for a buyer and offering Saints for sale. That's what we have running us... selfish, greedy, foolish and ultimtely (less Crouch and Corbett) shareholders who genuinely care nothing for this Club only the shares and plc now here represented. If we go into administration... the plc must be allowed to DIE. Never again must this club suffer from petty - poor - businessment who treat this Club as a plaything whilst maintaining their other interests. Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 21 January, 2009 Share Posted 21 January, 2009 TBH! Why does it have to be a secret? IF the "source`s" identity has to be kept a secret then the said source should have kept ther gob shut in the first place.... So come on spill the beans,the "source" deserves no loyalty as they have shown none theirselves.. Unless of course it is a ******... Well? Are you going to speak up? Thought not.... Link to comment Share on other sites More sharing options...
um pahars Posted 21 January, 2009 Share Posted 21 January, 2009 Yep 100% true. People seem to think once you go into admin someone turns off the lights and thats it. The admin team will keep the club running within its means but recoup the money owed by selling off assets (players/business' etc..). All the players who have a contract will be sold off or could potentially walk for nothing if it costs to much to pay them each week (cutting loses), for example if say Euell had a year left on his contract it would make more financial sense to terminate contract mutually then keep him here. Because each week you still have to pay him. So the longer it takes to find a buyer the more you pay. I was sure that a condition of retaining the Golden Share of the Football league was that you had to honour all footballing debts and that included all wages owing past, present and future on player's contracts. Of course, i'm sure they can be renegotiated, but only with the consent of the players involved. Link to comment Share on other sites More sharing options...
derry Posted 21 January, 2009 Share Posted 21 January, 2009 The leaking of this if true coupled with the Sale article leads me to wonder if there is something going on behind the scenes - is there brinksmanship at play here? Talk of demonstrations, Echo/radio, Armstrong,etc, then a rumour of imminent adminisration to take the eye off the ball. Cross that bridge when we come to it. If it happens, it will be about the first rumour that came true. For me wait and see. Link to comment Share on other sites More sharing options...
Scottie Posted 21 January, 2009 Share Posted 21 January, 2009 TBH! Why does it have to be a secret? IF the "source`s" identity has to be kept a secret then the said source should have kept ther gob shut in the first place.... So come on spill the beans,the "source" deserves no loyalty as they have shown none theirselves.. Unless of course it is a ******... Well are you going to speak up?..... Thought not...... Of course if the story is true then the source has broken stock market rules and insider trading rules. Anyone in a position to actually know if this is true is unlikely to spill the beans (unless they are stupid). This is a rumour that has been going round, it might happen it might not. Link to comment Share on other sites More sharing options...
um pahars Posted 21 January, 2009 Share Posted 21 January, 2009 So why do people think Lowe will pick us up on the cheap when we go into administration? He's not got access to that kinda money either!?!? He hasn't, but some of his friends and acquaintances have!!!! I understand tecently they've spent more on some fishing rights in Scotland, than it would cost to buy us at our current share price!!! I wouldn't rule out Lowe attempting to come in if Administration befalls us. Now that would be a fun battle (not)!!!!! Link to comment Share on other sites More sharing options...
aintforever Posted 21 January, 2009 Share Posted 21 January, 2009 I was sure that a condition of retaining the Golden Share of the Football league was that you had to honour all footballing debts and that included all wages owing past, present and future on player's contracts. Of course, i'm sure they can be renegotiated, but only with the consent of the players involved. That has to be how it is, Leeds were still paying Fowler's wages for ages. Link to comment Share on other sites More sharing options...
Sold To The Man @ The Bar Posted 21 January, 2009 Share Posted 21 January, 2009 If this is true, and this is a leak then, as a PLC, Mr. Lowe will need to inform the city as anyone who has shares will sell ASAP. Only a small number traded in the last few days, so no sign of inside information being acted on yet. Not sure how the VAT dates fall, as with any business if they can't meet their financial obligations then they are insolvent... maybe it's the end of our quarter and we don’t have the money to pay it. Perhaps that is how they can be precise about the date we will need to go into administration? Link to comment Share on other sites More sharing options...
spain saint Posted 21 January, 2009 Share Posted 21 January, 2009 Won't believe this until shown proof!Rumours have been wrong too many times on here and the forums that proceeded this one. If the OP really wants to be believed, give us names! Surely if the source wanted to stay anonamous then they would not appreciate you putting this information on the forum at all? It is now time to put up or shut up!:mad: Link to comment Share on other sites More sharing options...
St Marco Posted 21 January, 2009 Share Posted 21 January, 2009 I was sure that a condition of retaining the Golden Share of the Football league was that you had to honour all footballing debts and that included all wages owing past, present and future on player's contracts. Of course, i'm sure they can be renegotiated, but only with the consent of the players involved. Indeed. The contracts have to be honoured. But looking at previous clubs going into admin the players normally mutually agree to terminate. I think when your at that point you probably don't want to be around the club anymore, especially if there is a chance you wont be paid. If we say to them "look you can walk for free, we won't give you a penny but your free to move to another club for free and on a free transfer meaning you can join anytime etc.." i think a lot would take it and be free of the club. I remember the Luton situation when they lost loads that way. Link to comment Share on other sites More sharing options...
St Marco Posted 21 January, 2009 Share Posted 21 January, 2009 Also be interesting to see the shares tomorrow. If there is some truth in it people will be bailing out now because if we go into admin they lose everything. Link to comment Share on other sites More sharing options...
Chez Posted 21 January, 2009 Share Posted 21 January, 2009 On the flip side of course, this could be a one of Lowe's PR plants, making us think admin is just around the corner, when in fact all that's going to happen is Lowe sells (insert name here) and claims that this move has fought off the threat of admin, claiming that he has saved the club. that rings true, plus it takes the pressure off all prvious decisions as he can point to the severity of the financial position forcing the employment of League 1 standard players. Link to comment Share on other sites More sharing options...
bigtonesfc Posted 21 January, 2009 Share Posted 21 January, 2009 If we do go tits up,we should join with the next team to go the same way(Charlton??) to form the Paupership League as founder members!This will be a fast growing league whilst the football league membership dwindles.Gradually interest grows more in the Paupership,less in Football League,as more teams join(Po**ey??),with players playing for a regular wage.Lack of competition,leaves the Prem as exciting as the SPL.Sky money plummets,and starts to get filtered into the Paupers League! Being in the Paup from the start we become the richest club in the land,whilst Man Disunited linger in Pauper Five!..................................Nurse!!!! Link to comment Share on other sites More sharing options...
lordswoodsaints Posted 21 January, 2009 Share Posted 21 January, 2009 What's to prevent a 'plant' posting from their home ISP account ? The IP thing only works when they are coming from a traceable sub-net, which was the mistake Lowe's lackies made last time. I'm just praying that this IS simply mischief making. perhaps the plants are getting clever,or so they think...perhaps they are learning from their last mistakes. Link to comment Share on other sites More sharing options...
NickG Posted 21 January, 2009 Share Posted 21 January, 2009 Gents Please remember the rumours we have had over the last years, some from respected posters such as SaintLee and Morph -that proved to be false, all the takeoever and signings. We had one last week, with others corroborating confirming that the lad had signed. Not saying it won't happen (now or in the future) but save the wrist slashing until its confirmed! Link to comment Share on other sites More sharing options...
hypochondriac Posted 21 January, 2009 Share Posted 21 January, 2009 If we do go tits up,we should join with the next team to go the same way(Charlton??) to form the Paupership League as founder members!This will be a fast growing league whilst the football league membership dwindles.Gradually interest grows more in the Paupership,less in Football League,as more teams join(Po**ey??),with players playing for a regular wage.Lack of competition,leaves the Prem as exciting as the SPL.Sky money plummets,and starts to get filtered into the Paupers League! Being in the Paup from the start we become the richest club in the land,whilst Man Disunited linger in Pauper Five!..................................Nurse!!!! Would that not make us bottom of the league? Link to comment Share on other sites More sharing options...
saint_stevo Posted 21 January, 2009 Share Posted 21 January, 2009 Does that mean we won't be signing Christian Dailly? suppose i asked for that Apparently they are going to do the Coventry thing of 'unless investment is found by the Xth of February the club will go into admin' and hope investment falls at there feet, but secretly Rupert hopes we do go into admin so he can then carry on blaming the previous board. Love it Link to comment Share on other sites More sharing options...
The Rover Posted 21 January, 2009 Share Posted 21 January, 2009 Administration and winding up aren't the same thing though. Does anyone know how Voluntary Administration works? I've heard that Lowe could put us into Voluntary Administration and do a deal to reschedule and or reduce our debts with the major creditors (Barclays and Aviva) either before or during this period and then bring us out of Administration by a Company Voluntary Agreement (CVA). I believe this is what David Sheepshanks did at Ipswich and he remained Chairman afterwards: http://news.bbc.co.uk/sport1/hi/football/teams/i/ipswich_town/2950192.stm I had rather hoped that if we had to go through administration, at least we would see the back of Lowe and Wilde but perhaps we won't. Does anyone know more? Link to comment Share on other sites More sharing options...
stevegrant Posted 21 January, 2009 Share Posted 21 January, 2009 Exit 2 - you spoke of BDO. Are BDO Stoyward to be appointed as adminstrators then? BDO Stoy Hayward are the club's appointed auditors. I'm quite stunned how quickly this rumour has gathered legs - I heard it on the train home at about 6.15, didn't think much of it at that point but spoke to exit2 and he said he'd heard similar, and then not long after this thread appears from a different forum member. Link to comment Share on other sites More sharing options...
Recommended Posts