Announcement tomorrow 7AM?

[Master Bates]

http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6012015.ece

[Dibden Purlieu Saint]

Walked into work this morning, with Don't Stop Believing by Journey playing, just on random. How ironic considering there is no belief that can be had.

[Third Division South Days]

there is no way in a million years this "parent company" ****** will stop us getting a points deduction, if anything the FA will make it worse.

 

Again clutching at straws, but is it not possible that SLH could have had some discussion with the FA on the likely ramifications of the course of action being taken?

[Ponty]

Again clutching at straws, but is it not possible that SLH could have had some discussion with the FA on the likely ramifications of the course of action being taken?

You'd like to think so.

 

Let's keep our fingers crossed.

[Daren W]

Again clutching at straws, but is it not possible that SLH could have had some discussion with the FA on the likely ramifications of the course of action being taken?

 

I'm looking at your usename and wondering if it's nostalgic or prophetic?

[hypochondriac]

Bit irritated that they haven't thought to update the OS yet

[Rusaldo]

http://news.sky.com/skynews/Home/Business/Southampton-FC-Shares-Of-Clubs-Owners-Are-Suspended-Pending-Announcement-On-Firms-Future/Article/200904115253100?lpos=Business_Second_UK_News_Article_Teaser_Region_1&lid=ARTICLE_15253100_Southampton_FC%3A_Shares_Of_Clubs_Owners_Are_Suspended_Pending_Announcement_On_Firms_Future

[lordswoodsaints]

stadium debt to be taken on by the council and club is being bought by A.N.OTHER.......this is a good day for SFC mark my words ;-)

[Third Division South Days]

I'm looking at your usename and wondering if it's nostalgic or prophetic?

 

Pure nostalgia, the club is almost back to where I started. Havn't got a clue what happens next.

[saint lard]

stadium debt to be taken on by the council and club is being bought by A.N.OTHER.......this is a good day for SFC mark my words ;-)

 

This is the straw i have been clutching too.

[skintsaint]

stadium debt to be taken on by the council and club is being bought by A.N.OTHER.......this is a good day for SFC mark my words ;-)

 

hope your right mate lol

[eurosaint]

The very least that you would expect by now is an announcement on the OS !

Given that many other reports are out it really is (yet another) insult to the long suffering fans !

[Third Division South Days]

stadium debt to be taken on by the council and club is being bought by A.N.OTHER.......this is a good day for SFC mark my words ;-)

 

How can the council make a decision, behind closed doors, to spend 23million of taxpayers money.

[aintforever]

There have been meetings with the council, I hope this is right.

[St Steve]

Radio One said something but cant see anything else on any other site.

[fanimal]

has anyone contacted the advisors on 0207 107 8000?

[Dibden Purlieu Saint]

How can the council make a decision, behind closed doors, to spend 23million of taxpayers money.

 

They can spend my taxpayers money on it, they have my permission.

[andysstuff]

How can the council make a decision, behind closed doors, to spend 23million of taxpayers money.

 

Depends whatr money the club brings intot he City doesn't it? That's what we elect politicians for - to make the hard decisions sometimes.

[Badger]

How can the council make a decision, behind closed doors, to spend 23million of taxpayers money.

 

 

Perhaps the council will withdraw £23m from the account they had deposited it in, with an Icelandic bank.

 

 

Actually they would not be shelling out £23m but paying the mortgage on it gradually until the mythical buyer arrives.That said it seems too much of a political 'hot potato' to start shelling out at all on a football stadium when other services are under threat.Hope they do though

[1976_Child]

Perhaps the council will withdraw £23m from the account they had deposited it in, with an Icelandic bank.

 

 

Actually they would not be shelling out £23m but paying the mortgage on it gradually until the mythical buyer arrives.That said it seems too much of a political 'hot potato' to start shelling out at all on a football stadium when other services are under threat.Hope they do though

 

absolutely correct. For the council to buy the stadium in this current time would be political suicide

[Saint Fan CaM]

absolutely correct. For the council to buy the stadium in this current time would be political suicide

 

 

Perhaps they are just underwriting the debt until a new buyer can be found. Perhaps its actually not £23m - it could be a lot less in the current climate for obvious reasons. SMS is not much good without SFC is it?

[aintforever]

absolutely correct. For the council to buy the stadium in this current time would be political suicide

 

Because spending a fortune on pointless traffic lights is a way better investment...

[Dibden Purlieu Saint]

absolutely correct. For the council to buy the stadium in this current time would be political suicide

 

Why political suicide, Leeds did it?

[1976_Child]

Why political suicide, Leeds did it?

 

Leeds did it in times of prosperity. Don't get me wrong, I am all for the council buying the stadium and the club paying market rates to rent it back. I just don't believe any FD would approve it at this time. Also debatable whether the council has that kind of cash lying around.

[Katalinic]

Leeds did it in times of prosperity. Don't get me wrong, I am all for the council buying the stadium and the club paying market rates to rent it back. I just don't believe any FD would approve it at this time. Also debatable whether the council has that kind of cash lying around.

 

A sale and leaseback arrangement would be a possibility - given the low interest rates generated at the moment, if the council bought SMS then leased it back to Saints whilst making a tidy ROI then why not - less risky than putting their money in some banks I would imagine and they own the asset.

[Gingeletiss]

Total conjecture. SFC was/is like a plane in a steep dive, no matter who was the pilot I think we'd have gone into admin - it was just a a question of when.

 

Could Pearson have got the youth players to perform when he struggled to get our 'overpaid' stars to do the same last season? Who knows (by the way, the answer to this is no one).

 

Personally I think those that try to put a halo on Crouch's head are naive and exercise double standards. For example, if Lowe had been as evasive about the Walcott transfer renegotiation as Crouch was, then you'd be sharpening your pitchfork and marching on the Cotswolds.

 

And still you defend him...........least you forget about who took off in your imaginary plane, and refused the maintenance costs, it was Captain Lowe who started to run out of fuel.......

[teamsaint]

I would assume that the council are in a strong posotion. they can stop anyone from developing the land, so aviva will just hAVE to take the best offer from someone who wants football played there- won't they.

 

So presmably the council will underwrite the mortgage payments or some similar scheme.

SCC might not want to spend 23m but they CANNOT let SFC die- Tha t really would be political suicide.

[miserableoldgit]

Bullsh*t.

Hmmmmm...........

[hypochondriac]

I would assume that the council are in a strong posotion. they can stop anyone from developing the land, so aviva will just hAVE to take the best offer from someone who wants football played there- won't they.

 

So presmably the council will underwrite the mortgage payments or some similar scheme.

SCC might not want to spend 23m but they CANNOT let SFC die- Tha t really would be political suicide.

 

Except that it is not the council's fault...

[spyinthesky]

Apparently secret talks have been underway between Eastleigh FC and various local authorities to upgrade Eastleigh +FC capacity to 10,000. Eastleigh & Saints will share

 

Pompey will buy Staplewood training with saints and eastleigh renting their Stoneham lane facility but with the pitch avialbale for occasional Saints and Easdtleigh reserve games

 

The stadium debt will lay with Aviva.

 

Eastleigh Council have earmarked a site at the old railway works to build a new sports complex if England's bid for the World Cup is successful

[aintforever]

Wont the council lose out on business rates if SFC folds?

[St Marco]

Just speaking to my boss who has been a business analyst for over 25 years, he seems to think this will be seen to be illegal. He says that the only way it would not be was if the parent company took out the loans and then passed them on as gifts to the club. Seeing as they took out the loans and used the clubs assets as most likely Collateral (i.e stadium) to obtain those loans it will be nearly impossible to proove to a court the two are seperate entities.

He also thinks the FA will use us as a scape goat and hammer us with a bigger penalty if we do that to stop other clubs/companies of trying to find loop holes ala Leeds.

 

At the end of the day this could prove to be a case of Lowe and Wilde trying to remain in power with one last twist. One which ultimatly will see us punished more.

[Weston Saint]

Let me just clarify and confirm what some have already posted. We are not in Administration.

 

We have been unable to secure additional capital to continue as a going concern. For that reason we have not been able to comply with the AIM's rule that half year accounts are published within 3 month of the period.

 

My understanding is that there is a board meeting today to review our options.

 

It seems if we can sell the football club for a fair price that will be an option. Thereafter SLH may go into Administration.

 

Let's see what develops but from what I was told last night things look very bleak. I know nothing more at this stage other than there have been some interested parties hovering. May be one of them will make a move today but I am not holding my breath!

[alpine_saint]

Just speaking to my boss who has been a business analyst for over 25 years, he seems to think this will be seen to be illegal. He says that the only way it would not be was if the parent company took out the loans and then passed them on as gifts to the club. Seeing as they took out the loans and used the clubs assets as most likely Collateral (i.e stadium) to obtain those loans it will be nearly impossible to proove to a court the two are seperate entities.

He also thinks the FA will use us as a scape goat and hammer us with a bigger penalty if we do that to stop other clubs/companies of trying to find loop holes ala Leeds.

 

At the end of the day this could prove to be a case of Lowe and Wilde trying to remain in power with one last twist. One which ultimatly will see us punished more.

 

Par-for-the-course with these two. Everything they touch turns to shiit.

[dubai_phil]

Oh well, after all those years of build-up, seems like Wednesday became the new Friday and for all the wrong reasons.

 

While there's life I suppose there is still hope, wonder if anyone out there can catch a Hail Mary pass with 2 seconds left on the Game Clock - which is what it now sounds like.

 

Not a good day to sit around on here waiting for ITK snippets or speculation methinks

[andysstuff]

Wont the council lose out on business rates if SFC folds?

 

Southampton only collects the rates - the cash go into a central pot and get dished out by Government.

[thorpie the sinner]

especially on paper deadline day, I feel sick already Phil!!

[Gemmel]

Let me just clarify and confirm what some have already posted. We are not in Administration.

 

We have been unable to secure additional capital to continue as a going concern. For that reason we have not been able to comply with the AIM's rule that half year accounts are published within 3 month of the period.

 

My understanding is that there is a board meeting today to review our options.

 

It seems if we can sell the football club for a fair price that will be an option. Thereafter SLH may go into Administration.

 

Let's see what develops but from what I was told last night things look very bleak. I know nothing more at this stage other than there have been some interested parties hovering. May be one of them will make a move today but I am not holding my breath!

 

Thanks Weston, i'm still not sure where that leaves us, but suggests there are a couple of avenues to explore, before hoisting the white flag

[OfnPanad]

Apparently secret talks have been underway between Eastleigh FC and various local authorities to upgrade Eastleigh +FC capacity to 10,000. Eastleigh & Saints will share

 

Pompey will buy Staplewood training with saints and eastleigh renting their Stoneham lane facility but with the pitch avialbale for occasional Saints and Easdtleigh reserve games

 

The stadium debt will lay with Aviva.

 

Eastleigh Council have earmarked a site at the old railway works to build a new sports complex if England's bid for the World Cup is successful

 

What a load of old....!!! It's bad enough without people making stuff up...I know it's April Fools Day but the threat of Admin is real and you should get some bl00dy perspective and make your jokes elsewhere.

[slymush]

Mr G Lowe is now chairman of the football club...

 

signed it over to his brother to get it back cheap?

 

The whole thing is a disgrace - get rid of them all start next season on an equal footing in league 2 and start again....

 

The thing that really fooks me off is that if this was west ham or spurs the fa would already be making their excuses...'its too near the end of the season to deduct them points'....but with us like swindon they will take pleasure in making an 'example'

 

the whole thing is corrupt - hence the reason we are in this postion - redknapp making money on the exchanges then realising he had ruined his rep so fooked back off - disgrace the whole thing

 

I might head up the city today and see how many of the protestors are free on saturday...lets face it most of them dont need an excuse..

[OldNick]

I got a message today saying that people were informed yesterday and by doing so it is easier for investment.

I dont know anymore and hope posters like Clapham can give more on it.Whether that is the case I dont know.I live in hope i do know 100% that RL has been showing investors around in the last few weeks but if it has bearing on the decision i really dont know.

Edited 1 April, 2009 by OldNick

[teamsaint]

Except that it is not the council's fault...

 

no, but it would be if they stood by and let aviva build flats on the site.

 

 

Presumably there is still a chance that this is brinkmanship ny lowe to push a deal through asap.

[Draino76]

We made an international business website, so I commented on the story.

 

http://www.marke****ch.com/news/story/southampton-leisure-holdings-says-talks/story.aspx?guid=%7B5900FEB4%2D81B1%2D443A%2D83FA%2D5F5DAA24F1B2%7D&tool=1&dist=bigcharts&

 

market watch, (all one word)

 

Only our wonderful swear filter can find obscenities in such a website.

[aintforever]

Southampton only collects the rates - the cash go into a central pot and get dished out by Government.

 

It's all tax payers money, how much are the rates?

[OfnPanad]

Just speaking to my boss who has been a business analyst for over 25 years, he seems to think this will be seen to be illegal. He says that the only way it would not be was if the parent company took out the loans and then passed them on as gifts to the club. Seeing as they took out the loans and used the clubs assets as most likely Collateral (i.e stadium) to obtain those loans it will be nearly impossible to proove to a court the two are seperate entities.

He also thinks the FA will use us as a scape goat and hammer us with a bigger penalty if we do that to stop other clubs/companies of trying to find loop holes ala Leeds.

 

At the end of the day this could prove to be a case of Lowe and Wilde trying to remain in power with one last twist. One which ultimatly will see us punished more.

 

Even if we "escape" sanction from the FA this sort of thing leaves us wide open to be sued along the lines of Sheffield Utd vs West Ham.

[SaintRichmond]

Let me just clarify and confirm what some have already posted. We are not in Administration.

 

We have been unable to secure additional capital to continue as a going concern. For that reason we have not been able to comply with the AIM's rule that half year accounts are published within 3 month of the period.

 

My understanding is that there is a board meeting today to review our options.

 

It seems if we can sell the football club for a fair price that will be an option. Thereafter SLH may go into Administration.

 

Let's see what develops but from what I was told last night things look very bleak. I know nothing more at this stage other than there have been some interested parties hovering. May be one of them will make a move today but I am not holding my breath!

 

 

Never mind all the protestations ..... if SLH go into Administration ... that WILL mean Saints are deemed to be in Admi, and therefore the 10 points deduction WILL apply

 

If Lowe thinks otherewise, and has gambled on no points deduction, then he is a bigger fool than even I thought

[sticksaint]

Absolute radio are reporting "it is believed that if saints go into administration ,we will not get the 10 point penalty"

[Weston Saint]

Never mind all the protestations ..... if SLH go into Administration ... that WILL mean Saints are deemed to be in Admi, and therefore the 10 points deduction WILL apply

 

If Lowe thinks otherewise, and has gambled on no points deduction, then he is a bigger fool than even I thought

Funny because business experts seem to think it is possible.

[Mole]

Funny because business experts seem to think it is possible.

 

Let's pray they find a loophole.

[Scummer]

Funny because business experts seem to think it is possible.

 

Problem is it's not a business decision is it. It may all be above board from a legal point of view, but the FA make the decisions. If they think we've tried to avoid punishment they'll still hit us with penalties.