SaintRichmond Posted 2 April, 2009 Share Posted 2 April, 2009 apologies if this is elsewhere but only have few mins and not time to go through other threads; understanding is at 10.00 tomorrow plc will go into administration and Lowe will resign. There is a target of 21 (think it was maybe 25) days for investment and 2 interested parties. Football League will meet on Tuesday to decide whether we do in fact escape points deduction. Again, sorry if already on here. or infact inaccurrate but no reason not to believe them as 100% right in past on these issues Is there a genuine reason why he did not opt for Administration LAST WEEEK ??? .... ie before the cut off date ?? Link to comment Share on other sites More sharing options...
Viking Warrior Posted 2 April, 2009 Share Posted 2 April, 2009 Well lowe and co may have gone and perhaps I should be elated sadly Im not I now of the belief southampton FC will now become extinct. Its all well and good people constantly harping on about lowe but I have not seen much evidence of the vocal minority indicating any form of coherent way forward. You may have ridden or was it the economic downturn who has got rid of the anti christ but there is nothing in its place just the devil with a huge grinon its face. I feel a tad sorry for Duncan no more books to be written on the history of southampton just a pamplet maybe. Sad sad days:( Link to comment Share on other sites More sharing options...
damers Posted 2 April, 2009 Share Posted 2 April, 2009 Probably cause he does not believe we will get a points deduction, ala Derby............ MAYBE! Heres hoping anyway Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 April, 2009 Share Posted 2 April, 2009 With the PLC going into Administration there are affectively no longetr any shareholders!!!!! Additionally the Idrectors of the Football Club are appointed by the PLC, which is now in the hands of the administrator. They are no longer at the Club (although nothing can stop them from making a reappearance in the future, although I doubt they will). WHEN the PLC goes into administration (small technical point there!) It's all about the clock really Link to comment Share on other sites More sharing options...
70's Mike Posted 2 April, 2009 Share Posted 2 April, 2009 Well lowe and co may have gone and perhaps I should be elated sadly Im not I now of the belief southampton FC will now become extinct. Its all well and good people constantly harping on about lowe but I have not seen much evidence of the vocal minority indicating any form of coherent way forward. You may have ridden or was it the economic downturn who has got rid of the anti christ but there is nothing in its place just the devil with a huge grinon its face. I feel a tad sorry for Duncan no more books to be written on the history of southampton just a pamplet maybe. Sad sad days:( LIKE it did not exist before 1997 just leave Link to comment Share on other sites More sharing options...
Georgie Posted 2 April, 2009 Share Posted 2 April, 2009 http://www.dailyecho.co.uk/news/4254471.Lowe_and_Wilde_resign_from_Saints/ Link to comment Share on other sites More sharing options...
Greenridge Posted 2 April, 2009 Share Posted 2 April, 2009 http://www.dailyecho.co.uk/news/4254471.Lowe_and_Wilde_resign_from_Saints/ I see they've resigned from both the PLC and the Football Club board. Link to comment Share on other sites More sharing options...
Soggy Bottom Posted 2 April, 2009 Share Posted 2 April, 2009 I see they've resigned from both the PLC and the Football Club board. Does this mean the club has been sold. Clutch those straws guys Link to comment Share on other sites More sharing options...
JustMike Posted 2 April, 2009 Share Posted 2 April, 2009 www.dailyecho.co.uk/news/4254471.Lowe_and_Wilde_resign_from_Saints/ 24 days to save saints!!! fook..sh!t :-( Link to comment Share on other sites More sharing options...
corky morris Posted 2 April, 2009 Share Posted 2 April, 2009 Has this been confirmed yet? I have not seen it on the wires other than the echo? Link to comment Share on other sites More sharing options...
OldNick Posted 2 April, 2009 Share Posted 2 April, 2009 I do hope he has hired a bus to take all the other hangers on with him Link to comment Share on other sites More sharing options...
Hurricane163 Posted 2 April, 2009 Share Posted 2 April, 2009 It seams very clear to me that the fans can now play a vital part in the next 24 days. Namely that St Marys is full for home games and that a large travelling contingent go to away games. We need to demonstrate to any potential buyer what level of support they can expect if they come up with the investment. Link to comment Share on other sites More sharing options...
major_woody Posted 2 April, 2009 Share Posted 2 April, 2009 I see they've resigned from both the PLC and the Football Club board. If this was true, wouldnt they have had to announce this to the stock exchange first? or because we have suspended shares it dosent matter? Link to comment Share on other sites More sharing options...
Crab Lungs Posted 2 April, 2009 Share Posted 2 April, 2009 I'm glad I don't debate on this forum anymore, and likewise don't go to games... so many pr1cks on here with double standards. Link to comment Share on other sites More sharing options...
saintjay77 Posted 2 April, 2009 Share Posted 2 April, 2009 Anyone seen this little nugget? http://www.dailyecho.co.uk/news/4254557.Ex_chairman_blames_bank_for_Saints_position/ At the beginning of the season the OD was up around 6.5 Mil so being just over 4 mil now I would have thought the bank would be extatic? Link to comment Share on other sites More sharing options...
Master Bates Posted 2 April, 2009 Share Posted 2 April, 2009 Lowe wouldn't dare buy us, would he? Link to comment Share on other sites More sharing options...
OldNick Posted 2 April, 2009 Share Posted 2 April, 2009 Anyone seen this little nugget? http://www.dailyecho.co.uk/news/4254557.Ex_chairman_blames_bank_for_Saints_position/ At the beginning of the season the OD was up around 6.5 Mil so being just over 4 mil now I would have thought the bank would be extatic? If that was the case then i cant see why they let/risk us go into admin Link to comment Share on other sites More sharing options...
chuz Posted 2 April, 2009 Share Posted 2 April, 2009 If that was the case then i cant see why they let/risk us go into admin Perhaps because we agreed to pay the overdraft back within a certain time scale or at a certain rate and we had breached those terms? Link to comment Share on other sites More sharing options...
saintjay77 Posted 2 April, 2009 Share Posted 2 April, 2009 If that was the case then i cant see why they let/risk us go into admin I suppose the plan that they were presented was accepted and if it reduced the OD by as much as is suggested then surly the banks should be happy. Missing out by 100K shouldnt be a problem unless they are looking at whats coming into the club and whats going out and decided that 100K is more likly to increase than reduce? Link to comment Share on other sites More sharing options...
OldNick Posted 2 April, 2009 Share Posted 2 April, 2009 Perhaps because we agreed to pay the overdraft back within a certain time scale or at a certain rate and we had breached those terms? Perhaps but for the club to have reduced its debt by that much it was doing something right. Players who we had out on loan and a price atached will be sold a lot cheaper now.There was talk that Watford were going to pay in the region of 750k for Rasiak and Swansea wanted nathan.No doubt they are going to be 200k each cheaper for them to buy.Another cut at our asset value. Link to comment Share on other sites More sharing options...
SaintRichmond Posted 2 April, 2009 Share Posted 2 April, 2009 I thought Lowe is resigning tomorrow ,now i'm confused still i have a nice distraction at work tomorrow... I just cannot see Lowe resigning ..... it goes completely against his Ego Link to comment Share on other sites More sharing options...
Block 5 Posted 2 April, 2009 Share Posted 2 April, 2009 If this was true, wouldnt they have had to announce this to the stock exchange first? or because we have suspended shares it dosent matter? No announcement on LSE yet. Therefore no resignations yet. Link to comment Share on other sites More sharing options...
Roger Posted 2 April, 2009 Share Posted 2 April, 2009 Solent have just said press conference at 1pm Link to comment Share on other sites More sharing options...
alpine_saint Posted 2 April, 2009 Share Posted 2 April, 2009 So the f**ker still hasnt done the decent thing yet. Probably haggling another severance package with the bank or administrator. Link to comment Share on other sites More sharing options...
alpine_saint Posted 2 April, 2009 Share Posted 2 April, 2009 Solent have just said press conference at 1pm Only 1hr 20mins until we are Lowe-less and Wilde-less. Yippee !! Link to comment Share on other sites More sharing options...
trousers Posted 2 April, 2009 Share Posted 2 April, 2009 Anyone seen this little nugget? http://www.dailyecho.co.uk/news/4254557.Ex_chairman_blames_bank_for_Saints_position/ At the beginning of the season the OD was up around 6.5 Mil so being just over 4 mil now I would have thought the bank would be extatic? I read that barclays had reduced our overdraft limit so we went from being 'just under' to 'just over'. October 08 if memory serves me correctly. I think it's sometimes called "moving the goalposts". Link to comment Share on other sites More sharing options...
St Landrew Posted 2 April, 2009 Share Posted 2 April, 2009 Solent have just said press conference at 1pm Fantastic. I shall be working, and unable to get to the radio. Typical..! I blame everybody except me. Link to comment Share on other sites More sharing options...
trousers Posted 2 April, 2009 Share Posted 2 April, 2009 Only 1hr 20mins until we are Lowe-less and Wilde-less. Yippee !! Would need to be announced to LSE before press conference Link to comment Share on other sites More sharing options...
alpine_saint Posted 2 April, 2009 Share Posted 2 April, 2009 Only 1hr 20mins until we are Lowe-less and Wilde-less. Yippee !! Shiite. 2hrs 20mins. Forgot I am an hour ahead. Link to comment Share on other sites More sharing options...
Scummer Posted 2 April, 2009 Share Posted 2 April, 2009 Only 1hr 20mins until we are Lowe-less and Wilde-less. Yippee !! Not in our country, Alps. Link to comment Share on other sites More sharing options...
alpine_saint Posted 2 April, 2009 Share Posted 2 April, 2009 Can anyone record it and stick it on YouTube ? Link to comment Share on other sites More sharing options...
chuz Posted 2 April, 2009 Share Posted 2 April, 2009 Perhaps but for the club to have reduced its debt by that much it was doing something right. Players who we had out on loan and a price atached will be sold a lot cheaper now.There was talk that Watford were going to pay in the region of 750k for Rasiak and Swansea wanted nathan.No doubt they are going to be 200k each cheaper for them to buy.Another cut at our asset value. I do take your point Nick. But who knows what the score really is? Perhaps we had reduced the overdraft to £3 million and it was going the wrong way again? Perhaps we had calculated that by now we would have a couple of million of March Madness season ticket money in the bank that did not materialise because of the league position. The whole of this season has been so bizarre to be untrue. From offering Dyer a new contract then immediately sending him on loan to buying players in the January transfer window, when we must have known the current scenario was possible. It seems that decisions have been made throughout the season that just beggar belief... Link to comment Share on other sites More sharing options...
saintjay77 Posted 2 April, 2009 Share Posted 2 April, 2009 I read that barclays had reduced our overdraft limit so we went from being 'just under' to 'just over'. October 08 if memory serves me correctly. I think it's sometimes called "moving the goalposts". As usual our situation has many things to blame that combine in it all being Rupes fault lol As with last time I just hope that this time we come out looking better than we do going in. Link to comment Share on other sites More sharing options...
stanthemanfairoak Posted 2 April, 2009 Share Posted 2 April, 2009 i do take your point nick. But who knows what the score really is? Perhaps we had reduced the overdraft to £3 million and it was going the wrong way again? Perhaps we had calculated that by now we would have a couple of million of march madness season ticket money in the bank that did not materialise because of the league position. The whole of this season has been so bizarre to be untrue. From offering dyer a new contract then immediately sending him on loan to buying players in the january transfer window, when we must have known the current scenario was possible. It seems that decisions have been made throughout the season that just beggar belief...but by who? Link to comment Share on other sites More sharing options...
OldNick Posted 2 April, 2009 Share Posted 2 April, 2009 I do take your point Nick. But who knows what the score really is? Perhaps we had reduced the overdraft to £3 million and it was going the wrong way again? Perhaps we had calculated that by now we would have a couple of million of March Madness season ticket money in the bank that did not materialise because of the league position. The whole of this season has been so bizarre to be untrue. From offering Dyer a new contract then immediately sending him on loan to buying players in the January transfer window, when we must have known the current scenario was possible. It seems that decisions have been made throughout the season that just beggar belief...I can see the sense in the Dyer one as he was going to be a free agaent abd then we got an offer for him.Perhaps good business if we had stayed solvent. Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 2 April, 2009 Share Posted 2 April, 2009 Well lowe and co may have gone and perhaps I should be elated sadly Im not I now of the belief southampton FC will now become extinct. Its all well and good people constantly harping on about lowe but I have not seen much evidence of the vocal minority indicating any form of coherent way forward. You may have ridden or was it the economic downturn who has got rid of the anti christ but there is nothing in its place just the devil with a huge grinon its face. I feel a tad sorry for Duncan no more books to be written on the history of southampton just a pamplet maybe. Sad sad days:( With the possible demise of Saints there will be even more opportunity for books about the good old days! I don't think, for one minute, that the likes of Duncan Holley, David Bull, Gary Chalk and others researched and compiled those books to make money. In fact, unless I am gravely mistaken, they probably just about broke even, if that! But that whole scenario is really none of our business and to resort to innuendo, which I have no doubt you are using, is a sad and lamentable move on your behalf. At least those gentlemen got off their arrrrsiz and provided a plethora of information and entertainment that would otherwise have never seen the light of day. Now, with Damien having gone, we can look to the future and hope that something can be ressurected from these ashes. Link to comment Share on other sites More sharing options...
Gravesend Saint Posted 2 April, 2009 Share Posted 2 April, 2009 Positive note: "Administrators are thought to want to appoint a new director to the football board with no previous connection to the club to help with its day to day running." Good news - stops any arguements. From: http://www.dailyecho.co.uk/sport/saints/news/4254471.Lowe_and_Wilde_resign_from_Saints/ Link to comment Share on other sites More sharing options...
Clapham Saint Posted 2 April, 2009 Share Posted 2 April, 2009 It seams very clear to me that the fans can now play a vital part in the next 24 days. Namely that St Marys is full for home games and that a large travelling contingent go to away games. We need to demonstrate to any potential buyer what level of support they can expect if they come up with the investment. Exactly! :smt041:smt041:smt041 Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 2 April, 2009 Share Posted 2 April, 2009 So £110k was the figure that pushed Barclays over...pathetic. Says everything about UK Banks to be honest. Anyway...just done a simple calculation - 5,000 stayaways x £25 per ticket = £125,000. Now, if Lowe would have walked 8 weeks ago and the stayaways returned, could it all have been different??? Link to comment Share on other sites More sharing options...
Snowballs2 Posted 2 April, 2009 Share Posted 2 April, 2009 Exactly! :smt041:smt041:smt041 Only if Lowe has deffinitely gone Link to comment Share on other sites More sharing options...
Ken Tone Posted 2 April, 2009 Share Posted 2 April, 2009 If the club had tried to sell early season tickets as they normally do at this time of year, even though the income would no doubt have been much lower than in previous years, surely just that process alone would have brought in enough cash to keep the overdraft down? Pretty much everything that has happened this season has been weird. As someone who has frequently warned of the unpleasantness of administration I am worried today, but even I am not so gloomy as to predict the end of Saints' existence yet. There is a faint chance we'll come out of this relatively ok and a *good* chance we'll come out of it surviving but badly depleted after a fire sale of assets. K. Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 2 April, 2009 Share Posted 2 April, 2009 Over on Saintlist there is mention of a Press Conference at 13.00 today. Anybody know more? Link to comment Share on other sites More sharing options...
SaintRobbie Posted 2 April, 2009 Share Posted 2 April, 2009 Swing Lowe... Link to comment Share on other sites More sharing options...
Greenridge Posted 2 April, 2009 Share Posted 2 April, 2009 Over on Saintlist there is mention of a Press Conference at 13.00 today. Anybody know more? Sorry, I'm trying to keep track of all the threads running so may have missed what the outcome of the 10:00am Press Conference was? Did it go ahead? Link to comment Share on other sites More sharing options...
Roger Posted 2 April, 2009 Share Posted 2 April, 2009 Well it said on solent there was and now they are waiting for the club to confirm, but evryone thought there would have been an announcement by now. Does anyone else think that lowe could have slipped his way out of all of this again? Link to comment Share on other sites More sharing options...
Weston Saint Posted 2 April, 2009 Share Posted 2 April, 2009 So £110k was the figure that pushed Barclays over...pathetic. Says everything about UK Banks to be honest. Anyway...just done a simple calculation - 5,000 stayaways x £25 per ticket = £125,000. Now, if Lowe would have walked 8 weeks ago and the stayaways returned, could it all have been different???I think you will find it was not the £110K but the fact there would not be enough income going forward so the loss would increase with no prospect of change. Link to comment Share on other sites More sharing options...
Weston Saint Posted 2 April, 2009 Share Posted 2 April, 2009 Well it said on solent there was and now they are waiting for the club to confirm, but evryone thought there would have been an announcement by now. Does anyone else think that lowe could have slipped his way out of all of this again?No news may be appropriate at this moment in time. Let's see what 1pm press call brings (bet it is the usual press call for Saturdays game) Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 April, 2009 Share Posted 2 April, 2009 Sorry, I'm trying to keep track of all the threads running so may have missed what the outcome of the 10:00am Press Conference was? Did it go ahead? No for good reasons, that people have to do things in a timeline and G2 doesn't help movement around London lawyers and stockbrokers that the law requires HTH Link to comment Share on other sites More sharing options...
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