batterseasaint Posted 2 April, 2009 Posted 2 April, 2009 Basically, legally there is a difference between SLH and the football club (for the purposes of the FL and avoiding the points penality), but the fate of the football club is intrinsically linked to the fate of SLH. If SLH goes bust, so does the club. On the positive side, if most of that debt relates to the mortgage, I am presuming this means that it doesn't all have to be paid off by any incoming person(s). ie. if they can prove that they have the means to service the mortgage on an ongoing basis, that is fine. Maybe someone could clarify that...? If I am right, perhaps not so much money is required...
OldNick Posted 2 April, 2009 Posted 2 April, 2009 I think you'll be alone on that as Krasner was generally thought good at stabilising the huge debt and out goings, or where you expecting a miracle? He keep Chewton Glen running along nicely, they loved the champagne dinner and accomodation bills rolling in when B'mouth were in admin.
Doctoroncall Posted 2 April, 2009 Posted 2 April, 2009 He keep Chewton Glen running along nicely, they loved the champagne dinner and accomodation bills rolling in when B'mouth were in admin. So nothing to do with Leeds then.
Window Cleaner Posted 2 April, 2009 Posted 2 April, 2009 I though we all assumed it was c.25Million on the stadium and c.5Million to Barclays? but we know that Barclay's is 4,110,000£ .The stadium is about 23 million (from yesterday) so we owe other people at least 3 million £. The OD has gone down, but they won't renew it for next year so it's pay up or else from May onwards. We needed to sell some STs, nobody would have bought them in March anyway so we're f**ked.It really is simple. No STs in March, no money, no ongoing affair.Saga+Rasiak+Skacel+Thomas for May,June and July when there's no football = 500K, plus all the others. No one is going to buy them we know that as a fact.
1976_Child Posted 2 April, 2009 Posted 2 April, 2009 The rot set in with idiotic wage bills and unrealistic assumptions of how good the players were. The sadness is that we are not the only club in this situation. Football has been destroyed by greed. Find a buyer, accept that we are in division 3 next season if the club is still around at all. The top flight is not on the horizon for many, many years. (and by top flight I mean the top half of Division 1) SFC, Football, Lowe: just another example of capitalism failing.
Saint Charlie Posted 2 April, 2009 Posted 2 April, 2009 Now we just support the team, try to stay up, and hope some nice rich people want, for some strange reason, to buy Southampton FC.
a1ex2001 Posted 2 April, 2009 Posted 2 April, 2009 The rot set in with idiotic wage bills and unrealistic assumptions of how good the players were. The sadness is that we are not the only club in this situation. Football has been destroyed by greed. Find a buyer, accept that we are in division 3 next season if the club is still around at all. The top flight is not on the horizon for many, many years. (and by top flight I mean the top half of Division 1) SFC, Football, Lowe: just another example of capitalism failing. Division 1 and Division 3 no longer exist along with Divisions 2 and 4, please keep up at the back.
1976_Child Posted 2 April, 2009 Posted 2 April, 2009 Division 1 and Division 3 no longer exist along with Divisions 2 and 4, please keep up at the back. Nonsense. They do still exist. Just because they get rebranded as the Premiership, Championship etc it doesn't change the fact that: Premierhsip = Division 1 Championship = Division 2 Division 1 = Division 3 etc. The whole problem with money in football started with the rebranding.
StBaz Posted 2 April, 2009 Posted 2 April, 2009 Basically, legally there is a difference between SLH and the football club (for the purposes of the FL and avoiding the points penality), but the fate of the football club is intrinsically linked to the fate of SLH. If SLH goes bust, so does the club. On the positive side, if most of that debt relates to the mortgage, I am presuming this means that it doesn't all have to be paid off by any incoming person(s). ie. if they can prove that they have the means to service the mortgage on an ongoing basis, that is fine. Maybe someone could clarify that...? If I am right, perhaps not so much money is required... "If SLH goes bust, so does the club. " If the Administrators liquidate (i.e. sell off) the assets of SLH before placing it, the Company itself, into liquidation then SFC can survive as it is an asset of SLH.
a1ex2001 Posted 2 April, 2009 Posted 2 April, 2009 Nonsense. They do still exist. Just because they get rebranded as the Premiership, Championship etc it doesn't change the fact that: Premierhsip = Division 1 Championship = Division 2 Division 1 = Division 3 etc. The whole problem with money in football started with the rebranding. The premiership was a new league and not a rebranding. Next thing you'll be talking about north south splits and how passing the ball is a hideous new invention thats ruining the game.
Scummer Posted 2 April, 2009 Posted 2 April, 2009 The premiership was a new league and not a rebranding. A new league that just happened to have all the same teams as the old one? Of course it was a rebranding.
1976_Child Posted 2 April, 2009 Posted 2 April, 2009 The premiership was a new league and not a rebranding. Next thing you'll be talking about north south splits and how passing the ball is a hideous new invention thats ruining the game. That has got be a joke, right? It is still a member of the FA league system. It is still fully regulated by the FA. Teams enter and exit the league in the same way and only from/to the Championship. It was nothing other than a rebranding exercise.
The9 Posted 2 April, 2009 Posted 2 April, 2009 To sum up the press conference guys. There is interest in the club they are hopeful of making a sale but not confident (he said this alot and he really di not sound confident) due to financial climate. Club will be run till the end of the season. Fans need to help by turning up, helping to sell the club. SLH and SFC are in law different and they are working with the FL to avoid penalty. SLH has big(ish) assets i.e jacksons farm and training ground. The delay this morning was due to interest that appeared yesturday but the party could not prove a sound financial package (the deadline was originally 5pm yest, but was extended till 11) Then we were able to listen to Moving on up by M people. If i have missed anything i apologize. Cheers, luckily M People were already on The List (alongside ...Amarillo) so at least I don't have to do anything...
Pancake Posted 2 April, 2009 Author Posted 2 April, 2009 That has got be a joke, right? It is still a member of the FA league system. It is still fully regulated by the FA. Teams enter and exit the league in the same way and only from/to the Championship. It was nothing other than a rebranding exercise. The Premier League and the Football League, whilst being looked over by the FA, are both self regulated bodies that work independently. The Premier League is not a re-branded "First Division", it is a new league set up by the 22 founding members (1 vote per club), with an agreement jin place with the Football League to allow relegations and promotions.
a1ex2001 Posted 2 April, 2009 Posted 2 April, 2009 The Premier League and the Football League, whilst being looked over by the FA, are both self regulated bodies that work independently. The Premier League is not a re-branded "First Division", it is a new league set up by the 22 founding members (1 vote per club), with an agreement jin place with the Football League to allow relegations and promotions. Thanks saved me some typing, if people are going to get on there soap boxes about somehting a little research may help.
The9 Posted 2 April, 2009 Posted 2 April, 2009 Derby's holding company went into administration but the football club didn't, there was no points deduction. You might want to look at this, there was no points deduction because the points deduction rules didn't come into force until the season after - even though they'd already been agreed when Derby did that : http://www.saintsweb.co.uk/forum/showpost.php?p=246236&postcount=329
1976_Child Posted 2 April, 2009 Posted 2 April, 2009 Thanks saved me some typing, if people are going to get on there soap boxes about somehting a little research may help. ******. You and I both know that it is not a new league at all. Semantics like "founding members" are meaningless. It was all hype and spin. So when we dropped out of the Prem did we retain our 1/20th ownership? No, did we ****. Castles in the sky is all it is. There was genuine talk of a new european league being formed with the biggest and richest clubs from all over europe leaving the auspices of their national FAs and setting up completely fresh, but it never got anywhere.
Wurzel Posted 2 April, 2009 Posted 2 April, 2009 I can't start a thread so how about someone who can doing it for me. Southampton Football Club Ltd Sweepstake Your guess at how much the Football Club will be sold for. Competition expires in 24 days and counting.
Window Cleaner Posted 2 April, 2009 Posted 2 April, 2009 I have been reflecting again and have mentally remarked that not once in any of the PLC annual reports that I have read is there any significant reference to any form of revenue other than football. None ever mention the activity of our wholly owned but totally independent company the FC. They talk about football, transfers, league position etc. It will need Harry Houdini QC to get us off without 10 points deducted.
bridge too far Posted 2 April, 2009 Posted 2 April, 2009 I have been reflecting again and have mentally remarked that not once in any of the PLC annual reports that I have read is there any significant reference to any form of revenue other than football. None ever mention the activity of our wholly owned but totally independent company the FC. They talk about football, transfers, league position etc. It will need Harry Houdini QC to get us off without 10 points deducted. This is from Wiki. I know it's out of date because some of the bits have been sold off (the bits in red) but surely some of the other bits are still part of the parent company? The wholly owned subsidiary companies of Southampton Leisure Holdings PLC are: Southampton Football Club Ltd St. Mary's Stadium Ltd St. Mary's SPV Ltd Southampton Insurance Services Ltd Southampton Mortgage & Financial Centre Ltd Saints Supporters Club Ltd Southampton Swaylife Ltd Secure Retirement Ltd Dell Estates Ltd St Michael's Street Homes (No. 1) Ltd Stadium 2000 Ltd Felix Broadcasting Ltd South City FM Ltd Forest FM Ltd
dubai_phil Posted 2 April, 2009 Posted 2 April, 2009 I have been reflecting again and have mentally remarked that not once in any of the PLC annual reports that I have read is there any significant reference to any form of revenue other than football. None ever mention the activity of our wholly owned but totally independent company the FC. They talk about football, transfers, league position etc. It will need Harry Houdini QC to get us off without 10 points deducted. But our events team hosted the James Bond night..... and the Cabinet...... Then there's the mega stores... straws clutch
Window Cleaner Posted 2 April, 2009 Posted 2 April, 2009 This is from Wiki. I know it's out of date because some of the bits have been sold off (the bits in red) but surely some of the other bits are still part of the parent company? The wholly owned subsidiary companies of Southampton Leisure Holdings PLC are: Southampton Football Club Ltd St. Mary's Stadium Ltd St. Mary's SPV Ltd Southampton Insurance Services Ltd Southampton Mortgage & Financial Centre Ltd Saints Supporters Club Ltd Southampton Swaylife Ltd Secure Retirement Ltd Dell Estates Ltd St Michael's Street Homes (No. 1) Ltd Stadium 2000 Ltd Felix Broadcasting Ltd South City FM Ltd Forest FM Ltd Yes but when was the last time an annual report mentioned the financial activity of any one of them .Apart from saying they'd been sold or purchased or whatever.Look at the annual reports, it's all about matchday revenue, broadcasting revenue and other revenue, the other is minor and never specific. the view must be that the FC and the PLC are seperate entities but are inseperable in terms of loss making .
Window Cleaner Posted 2 April, 2009 Posted 2 April, 2009 But our events team hosted the James Bond night..... and the Cabinet...... Then there's the mega stores... straws clutch But those are insignificant in the mass of the affair. Assuming that they are "other" revenue in the last AR. 7.9 matchday,3.9 (or whatever) broadcasting wholly linked to football 3.0 other (all in millions of £) plus 9.1 million excedent on player trading. The PLCs annual turnover comes to what? 15 million plus player trading it is virtually all football related. We won't get away with it and anyone who thinks we might is a dumbass.It'll probably be like Lewis Hamilton,veil the truth and get 1 extra point until the facts are known and get none at all.
trousers Posted 2 April, 2009 Posted 2 April, 2009 (edited) Sorry if already asked/answered but who is the other football club director at the moment. At the press conference they said it was David Jones and some other chap who I couldn't hear the name of. In other words, who will be writing the 'football club chairman' page in the programme for the game on Saturday? Edited 2 April, 2009 by trousers
Window Cleaner Posted 2 April, 2009 Posted 2 April, 2009 Sorry if already asked/answered but who is the other football club director at the moment. At the press conference they said it was David Jones and some other chap who I could hear the name of. In other words, who will be writing the 'football club chairman' page in the programme for the game on Saturday? Anyone who fancies doing it for free. Apply within.
Rational Rich Posted 2 April, 2009 Posted 2 April, 2009 Sorry if already asked/answered but who is the other football club director at the moment. At the press conference they said it was David Jones and some other chap who I couldn't hear the name of. In other words, who will be writing the 'football club chairman' page in the programme for the game on Saturday? I heard it as Kevin Toynbee, but may be wrong.
COMEONYOUREDS Posted 2 April, 2009 Posted 2 April, 2009 was Paul Miller mentioned a while ago on here? from radio solent?
JustMike Posted 2 April, 2009 Posted 2 April, 2009 (edited) from radio solent? Ex Spurs player Edited 2 April, 2009 by JustMike
bpsaint Posted 2 April, 2009 Posted 2 April, 2009 Update at 5pm according to SSN,dunno if that means they have some new news.
Smirking_Saint Posted 2 April, 2009 Posted 2 April, 2009 Doubt it, will probably just be what we already know
dubai_phil Posted 2 April, 2009 Posted 2 April, 2009 Update at 5pm according to SSN,dunno if that means they have some new news. May be an update on the mysterious possible bidder from yesterday that was mentioned in the press conference?
trousers Posted 2 April, 2009 Posted 2 April, 2009 I heard it as Kevin Toynbee, but may be wrong. Cheers. Yep, first name sounded like Kevin, but the surname was a bit muffled. I couldn't see a 'Kevin' anyone on the Administrator's list of partners though...hang on a minute - perhaps it's their head man? Isn't the firm called Traynor? Could be what they said. Anyway, it's not that important....he's only the bloke in charge of our football club right now!!!
SaintDonkey Posted 2 April, 2009 Posted 2 April, 2009 David Jones really is Mr Teflon shoulders isn't he! Is this the third boardroom cull he's survived?
Soggy Bottom Posted 2 April, 2009 Posted 2 April, 2009 Might be nothing but there was a 2.10 announcement on LSE http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?ti=SOO Southampton Leisure Holdings plc ("SLH" or "the Company") The joint administrators of the Company note the recent press speculation in regard to the sale of the Company. The joint administrators confirm that they are soliciting offers for both the Company and its main asset, Southampton Football Club Limited. A further announcement will be made in due course. In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, SLH confirms that it currently has in issue 28,090,896 ordinary shares of 5p each, (no shares are held in treasury) and admitted to trading on AIM, a market operated by the London Stock Exchange. In addition, the following options are also outstanding: Date of grant Number of Shares Period of Options Exercise Price per share 5 May 2004 200,000 5 April 2007 to 5 April 2011 46p The International Securities Identification Number for SLH's ordinary shares is GB0007922114. For further information: Begbies Traynor (South) LLP Mark Fry Tel: 0207 398 3800 Also Bid Situation has now been added
batterseasaint Posted 2 April, 2009 Posted 2 April, 2009 "Also Bid Situation has now been added" Doesn't this mean we are subject to a bid from someone?
suewhistle Posted 2 April, 2009 Posted 2 April, 2009 ****, I've only just logged in and saw the OS site first. This is deeply worrying... and don't say it'll be easy to find a buyer.... "What happens if you are unable to re-finance or find a buyer for the club? If the administrator is unsuccesful it is likely that the Football Club will enter an insolvency process which is likely to effectively mean that the club will cease to operate. Clearly this is an outcome that all parties will want to avoid."
dubai_phil Posted 2 April, 2009 Posted 2 April, 2009 "Also Bid Situation has now been added" Doesn't this mean we are subject to a bid from someone? If that is the case then things will change very fast
JustMike Posted 2 April, 2009 Posted 2 April, 2009 "Also Bid Situation has now been added" Doesn't this mean we are subject to a bid from someone? it does say bid situation, suspended. does that mean the bid situation is suspended??
mdearlove Posted 2 April, 2009 Posted 2 April, 2009 same as before - Bid situation means that we are soliciting for offers - NOT that we have received one. Same as the LSE announcement states
Give it to Ron Posted 2 April, 2009 Posted 2 April, 2009 it does say bid situation, suspended. does that mean the bid situation is suspended?? That usually means end of days trading in the market
JustMike Posted 2 April, 2009 Posted 2 April, 2009 ahh ok thanks. So back to my question earlier, wasnt Paul Miller mentioned on here a while ago, the ex spurs player?
Block 5 Posted 2 April, 2009 Posted 2 April, 2009 Mark Fry seems to be painting a bleak picture. However, it would suit him to say that things are bad. If he were to say "I will have a buyer sorted within the week" and then found a buyer then no one would bat an eyelid. If however, he emphasises the potential extinction of the club and then finds a buyer, well, wouldn't his personal kudos swell? Remember that administrators are in business too........
hypochondriac Posted 2 April, 2009 Posted 2 April, 2009 Mark Fry seems to be painting a bleak picture. However, it would suit him to say that things are bad. If he were to say "I will have a buyer sorted within the week" and then found a buyer then no one would bat an eyelid. If however, he emphasises the potential extinction of the club and then finds a buyer, well, wouldn't his personal kudos swell? Remember that administrators are in business too........ plus it encourages people to come forward.
sotonist Posted 2 April, 2009 Posted 2 April, 2009 same as before - Bid situation means that we are soliciting for offers - NOT that we have received one. Same as the LSE announcement states what a stupid description. it's an offer situation not a bid situation.
sotonist Posted 2 April, 2009 Posted 2 April, 2009 not your description. the stock exchange's description.
mdearlove Posted 2 April, 2009 Posted 2 April, 2009 not your description. the stock exchange's description. How dare you sir
Give it to Ron Posted 2 April, 2009 Posted 2 April, 2009 ahh ok thanks. So back to my question earlier, wasnt Paul Miller mentioned on here a while ago, the ex spurs player? Yes he was but it was a rumour and nothing more came of it - just another tyre kicker I think. Worked for Banque de Luxembourg- Investment Bankers and was a players agent; works as a property broker and a law firm in London
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now