egreog Posted 23 April, 2009 Share Posted 23 April, 2009 At least anyone with more money than sense knows what they will be getting for their hard earned cash!........good luck to them!! Link to comment Share on other sites More sharing options...
Colinjb Posted 23 April, 2009 Share Posted 23 April, 2009 Rupert Lowe signs out in style. Says it all for his eccentric ideas really. Now we know what league we will be in next year we can start preparing for the future. COME ON YOU REDS. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 23 April, 2009 Share Posted 23 April, 2009 Should have kept hold of the radios station and insurance company - as proof of additional companies.... Link to comment Share on other sites More sharing options...
Bailey Posted 23 April, 2009 Share Posted 23 April, 2009 I'm of the opinion that we should just accept this punishment in the hope that any potential investor will now be able to come up with an offer knowing all the facts. Starting life in League One on -10. If we appeal or contest the decision, the chances are that this whole saga will drag on even more, and the Football League are unlikely to change their decision based on the fact that other clubs such as Bournemouth and Luton will be considering their own legal action. There are too many ramifications should the Football League go back on their decision, and I fully expect them to close up this 'loop-hole' so that this scenario doesn't arise again in the future. I'm absolutely gutted to hear this news, but not in the least bit surprised. Still hurts hearing it confirmed though. No we all need to just show our support to the club in the hope that someone is willing to take us over and begin rebuilding our once great club. Link to comment Share on other sites More sharing options...
saint1977 Posted 23 April, 2009 Share Posted 23 April, 2009 Who is the player in the BBC article photo? Is it even a Saints player? McG I think. Good pic as it sums up how we as fans are feeling. We're just going to have ensure: 1) We get a buyer with enough resources to move forward 2) We rebuild and stay in L1 next season 3) We get behind a new regime and remember that we are all Saints fans 4) Ensure Askham, Wilde, Lowe and co are NEVER involved with SFC again 5) We don't take our club for granted Link to comment Share on other sites More sharing options...
SFC Forever Posted 23 April, 2009 Share Posted 23 April, 2009 I wish I had been wrong but I said this is what the League would do. Since we are already heading for relegation we will start next season 10 points down. Why oh why did those idiots Lowe, Cowan, Jones and Wilde carry on beyond the March deadline? LOWE WANTED TO SCREW US AND DID JUST THAT. IMHO of course. Link to comment Share on other sites More sharing options...
Psycrow Posted 23 April, 2009 Share Posted 23 April, 2009 Fully expected. Fully expecting another -15. Why? Link to comment Share on other sites More sharing options...
notnowcato Posted 23 April, 2009 Share Posted 23 April, 2009 Barclays called the shots ...so the board of SLH are not to blame then?? Phew, I was getting all upset and all Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 23 April, 2009 Share Posted 23 April, 2009 I wish I had been wrong but I said this is what the League would do. Since we are already heading for relegation we will start next season 10 points down. Why oh why did those idiots Lowe, Cowan, Jones and Wilde carry on beyond the March deadline? Because, as always, the pryx knew better! The fans and players are paying for their (Lowe et al) ego fuelled brinkmanship. Link to comment Share on other sites More sharing options...
notnowcato Posted 23 April, 2009 Share Posted 23 April, 2009 Should have kept hold of the radios station and insurance company - as proof of additional companies.... Wouldn't we have gone pop even quicker?? Link to comment Share on other sites More sharing options...
SFC Forever Posted 23 April, 2009 Share Posted 23 April, 2009 We now need to stand firm and show potential buyers that we will still be here next season. And for years to come as well. Link to comment Share on other sites More sharing options...
Mole Posted 23 April, 2009 Share Posted 23 April, 2009 Rupert Lowes reaction on hearing the news... Link to comment Share on other sites More sharing options...
Wilko Posted 23 April, 2009 Share Posted 23 April, 2009 Harrumph. Link to comment Share on other sites More sharing options...
dellboypete Posted 23 April, 2009 Share Posted 23 April, 2009 http://www.skysports.com/story/0,19528,11095_5228159,00.html just been updated with a summary of the league report Link to comment Share on other sites More sharing options...
badgerx16 Posted 23 April, 2009 Share Posted 23 April, 2009 If, as the FL imply, the holding company ( SLH ) is "solvent in it's own right", how can it have been placed in administration in the first place ? Surely the fact that the administrators have been brought in to manage the affairs of SLH, not the football club, and SLH's board have walked, would infer that the FL are taliking b0ll0x ? :smt102:smt102:smt102 Link to comment Share on other sites More sharing options...
saint1977 Posted 23 April, 2009 Share Posted 23 April, 2009 Barclays called the shots Yes but only because they knew Rupert and Mike had no strategy for moving forward despite their pathetic delusions to the contrary. Even the academy is a wreck now. Rupert and Wilde's only interest were their shares. What was the point of them coming back? Link to comment Share on other sites More sharing options...
Guided Missile Posted 23 April, 2009 Share Posted 23 April, 2009 http://www.football-league.co.uk/page/News/ChampionshipNewsDetail/0,,10794~1636735,00.html I've just read the rationale on the league website and it makes no sense from a legal perspective. SLH (the only bit where an administrator has been appointed) is in no way an asset or an undertaking of SFC, SFC is an asset/undertaking of SLH. The FL have made a perverse decision on the facts. The administrators should and almost certainly will challenge this, as it will materially affect the value of SLH's main asset and, as such, the return to creditors. This is by no means over. Rich, you obviously have no clue how administrators work. There is NO way that he will incur legal costs, on the chance that the Club will somehow avoid a 10 point deduction and somehow increase the asset value of SLH. The main reason for this is that an administrator does not have the protection in law that a company does, ie he is PERSONALLY liable for any losses to the creditors, that occur as a result of his actions. A new owner will probably throw a few quid at a law suit, if they think it is worth the effort, but the cost of doing this has already been/will be knocked off the value of SLH... Mate, the game is up... Link to comment Share on other sites More sharing options...
dubai_phil Posted 23 April, 2009 Share Posted 23 April, 2009 This now becomes a whole new ball game in terms of questions 1) Why did Barclays wait one week after the deadline before pulling the plug? 2) Is there some recourse for the club or any new owners against Barclays for the financial implications of a 10 point penalty next season possibly delaying a return to the CCC? 3) How will this now affect the value of an offer to Aviva/Barclays/Other creditors? It looks likely that anyone considering buying the club may now need to budget for 2 seasons in L1, and so may not have so much in their purchase budget. If that means Aviva/Barclays now receive a lower settlement, maybe THEY will end up suing the FL for damages. As for us, IMHO we should take it on the chin and get on with saving the club. While the FL are trying to show "even handedness" it really is not going to help the greater good of football in general that anyone taking on huge debt to build a stadium can get kicked when they are down even if they stayed "technically" within the rules. Next up no doubt Rupert on some talk show explaining why we didn't do the admin on time and why the FL have this wrong. Obviously it wasn't his fault, probably blame Alps, EoA or Stanley I expect Link to comment Share on other sites More sharing options...
Barry the Badger Posted 23 April, 2009 Share Posted 23 April, 2009 I'm of the opinion that we should just accept this punishment in the hope that any potential investor will now be able to come up with an offer knowing all the facts. Starting life in League One on -10. Agree. Let's not drag this on and on. Time for a clean slate, accept the penalty and get on with it, assuming there's still a club next season. Link to comment Share on other sites More sharing options...
PhilB Posted 23 April, 2009 Share Posted 23 April, 2009 I wish I had been wrong but I said this is what the League would do. Since we are already heading for relegation we will start next season 10 points down. Why oh why did those idiots Lowe, Cowan, Jones and Wilde carry on beyond the March deadline? Because they thought "If we can't have the club why should anybody else" Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 23 April, 2009 Share Posted 23 April, 2009 Bottom line now!! The players need to get their arses into gear, win two games and hope we avoid relegation!! That way we start league 1 with no deductions!! A serious buyer takes a chance and we rebuid but from a level playing field!! Leicester showed its possible!! Yes, its a dark dark day, but if we can stay in existence with a new solid foundation, I will still believe that we can come back!! Hoping and praying Link to comment Share on other sites More sharing options...
egreog Posted 23 April, 2009 Share Posted 23 April, 2009 Most clubs would adopt a galvanised attitude and minimise the effect of the 10 point deduction through sheer hard work and determination....... Saints will probably simply dissolve into a Division 4 side...........no backbone and no spirit........ wait and see! Link to comment Share on other sites More sharing options...
SFC Forever Posted 23 April, 2009 Share Posted 23 April, 2009 -------------------------------------------------------------------------------- Quote: Originally Posted by saint1977 Thanks Rupert, you could at least have spared us the -10 for next season. Shows you his true colours Barclays called the shots Barclays called the shots on what Lowe gave them as fodder. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 23 April, 2009 Share Posted 23 April, 2009 What was the point of them coming back? 6.62 million quid overdraft. Link to comment Share on other sites More sharing options...
Psycrow Posted 23 April, 2009 Share Posted 23 April, 2009 anyone else think there's a deal to be done with Forest here on the last day of the season? You guys let us win, you still stay up and we start next season on 0 points... of course a lot of things need to happen this weekend for that to be the case, but its not out of the question Link to comment Share on other sites More sharing options...
Nolan Posted 23 April, 2009 Share Posted 23 April, 2009 I bet this announcement would have waited until the end of the season if Norwich hadn't been in the bottom three... Link to comment Share on other sites More sharing options...
bridge too far Posted 23 April, 2009 Share Posted 23 April, 2009 I wonder who, exactly, sought clarification from the FL, before SLH filed for administration, that SFC WOULDN'T suffer the -10 point penalty? And I wonder who, at the FL, gave them that assurance? Link to comment Share on other sites More sharing options...
saint_bert Posted 23 April, 2009 Share Posted 23 April, 2009 Absoloutly gutted. Link to comment Share on other sites More sharing options...
Paul Chuckle Posted 23 April, 2009 Share Posted 23 April, 2009 I always knew we would be relegated, but I feel sick to the stomach What a way to find out whilst sat at work. Its not right that you can be relegated without even kicking a ball on a Thursday afternoon. Link to comment Share on other sites More sharing options...
lumpofshipperley Posted 23 April, 2009 Share Posted 23 April, 2009 ...so the board of SLH are not to blame then?? Phew, I was getting all upset and all Any other year (outside of the credit crunch) we would not have gone into administration. Better run clubs then ours have gone under and will go under in the future. However smaller clubs have survived and gone on to thrive. That's the hope. You have to remember that we aren't special and we never have been. Link to comment Share on other sites More sharing options...
Psycrow Posted 23 April, 2009 Share Posted 23 April, 2009 No other club has managed to get one. So why would we? So you're trying to say that every club who were deducted 10 points for administration were deducted another 15? Link to comment Share on other sites More sharing options...
maltasaints Posted 23 April, 2009 Share Posted 23 April, 2009 Oh dear, was to be expected i suppose. Very sad day for SFC. Now lets hope we get the -10 this season, get rid of that shower of ****, Get a buyer in and start a fresh new season. Come on fellow fans were SFC the pride of the south WE WILL BE BACK Link to comment Share on other sites More sharing options...
broncoboy Posted 23 April, 2009 Share Posted 23 April, 2009 It is certainly a dark day but maybe inevitable. The main thing now is that we survive as a club. Next season if we exist we hopefully can start to rebuild. We should make sure we never put up with carpetbaggers we had in our boardroom again Lets see if Rupert is so keen to go on the radio now. We issue a fatwa on them all. Link to comment Share on other sites More sharing options...
JustMike Posted 23 April, 2009 Share Posted 23 April, 2009 fookedy fook fook, Cheers Rupes, your "clever" plan failed. Link to comment Share on other sites More sharing options...
Saint Billy Posted 23 April, 2009 Share Posted 23 April, 2009 If we have broken insolvency laws, then I hope the directors responsible for this are brought to account. Will be interesting to see if Rupert goes on another media offensive. I rather think he'll probably go on holiday instead. Exactly, the forensic accounting has obviously uncovered dodgyness. If only things could now start to improve but I dont think we have hit rock bottom yet. Link to comment Share on other sites More sharing options...
SO16_Saint Posted 23 April, 2009 Share Posted 23 April, 2009 I bet this announcement would have waited until the end of the season if Norwich hadn't been in the bottom three... Whats the relevance of this? sorry.... Link to comment Share on other sites More sharing options...
notnowcato Posted 23 April, 2009 Share Posted 23 April, 2009 I wonder who, exactly, sought clarification from the FL, before SLH filed for administration, that SFC WOULDN'T suffer the -10 point penalty? And I wonder who, at the FL, gave them that assurance? Harry Potter our new financial wizard spoke with Buttons at the Football League Palace. True story... Sorry but my bull sh1t radar says that maybe the conversation never happened... and if it did how stupid was it of Harry to believe Buttons. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 23 April, 2009 Share Posted 23 April, 2009 leicester went down with big money, kept much of their squad and came up easily as the wealthiest club. . But then Leicester's fans didn't sh*t on them did they. How many Mandaric outs we're there on their forum and in their local rag? How many said Mandaric took us down, I won't go again till he's gone. The fans who decided not to turn up,for whatever reason, have their share of the blame. If just 1000 more had attended each home game we'd be 400K£ better off and not in such a dire state. If only Skacel had ****ed off to Ipswich when he had the chance we'd be laughing even now. Link to comment Share on other sites More sharing options...
Milton Posted 23 April, 2009 Share Posted 23 April, 2009 I am sick of the names of Rupert Lowe and Michael Wilde. They have tarnished all the memories that I have of what was once a great club and ruined the dreams for many kids in Southampton. I hope that we can move on and never mention them again. Link to comment Share on other sites More sharing options...
Pancake Posted 23 April, 2009 Share Posted 23 April, 2009 I wonder who, exactly, sought clarification from the FL, before SLH filed for administration, that SFC WOULDN'T suffer the -10 point penalty? And I wonder who, at the FL, gave them that assurance? The Echo. No one from the club, from the best of my knowledge, formally approached the FL. Link to comment Share on other sites More sharing options...
LGTL Posted 23 April, 2009 Share Posted 23 April, 2009 The deafening silence from the OS is nothing short of an asolute disgrace. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 23 April, 2009 Share Posted 23 April, 2009 The deafening silence from the OS is nothing short of an asolute disgrace. The administrator runs the PLC now, I guess he tells them what to put up. SFC is in the hands of strangers for the time being, what do you expect the OS to put up? Link to comment Share on other sites More sharing options...
WestSaint Posted 23 April, 2009 Share Posted 23 April, 2009 Bad to worse then. We may start next season on -10 but Leeds showed in their first season in D1 that it was possible to do well with big support home and away - until their manager left that is Link to comment Share on other sites More sharing options...
derry Posted 23 April, 2009 Share Posted 23 April, 2009 Firstly it's not over yet. Last week Grant Thornton appointed by the league to investigate had a brief from the league, when they proceeded to exceed that brief the club refused them access. GT then walked out and without further ado submitted a report on which the league has acted. The administrator says that the league's actions are not in accordance with their rules. The club is considering it's position with it's lawyers and I'm expecting SFC to appeal and/or SLH fire a legal shot across the league's bow. This is likely to run and run. Link to comment Share on other sites More sharing options...
Mole Posted 23 April, 2009 Share Posted 23 April, 2009 Bad to worse then. We may start next season on -10 but Leeds showed in their first season in D1 that it was possible to do well with big support home and away - until their manager left that is Our shower of ****e players would struggle in the blue square though. Link to comment Share on other sites More sharing options...
maxi_sopez Posted 23 April, 2009 Share Posted 23 April, 2009 OH DEAR whos gonna buy us now! lets just pray we somehow "stay up" then start league one on zero lame lame lame Link to comment Share on other sites More sharing options...
Window Cleaner Posted 23 April, 2009 Share Posted 23 April, 2009 Firstly it's not over yet. Last week Grant Thornton appointed by the league to investigate had a brief from the league, when they proceeded to exceed that brief the club refused them access. GT then walked out and without further ado submitted a report on which the league has acted. The administrator says that the league's actions are not in accordance with their rules. The club is considering it's position with it's lawyers and I'm expecting SFC to appeal and/or SLH fire a legal shot across the league's bow. This is likely to run and run. It is over Derry, face up to it man. Link to comment Share on other sites More sharing options...
mrs woody Posted 23 April, 2009 Share Posted 23 April, 2009 http://www.guardian.co.uk/football/2008/may/07/leedsappeal Thus makes grim reading if the HRMC vote against CVA which it appears they always do Link to comment Share on other sites More sharing options...
slickmick Posted 23 April, 2009 Share Posted 23 April, 2009 Bottom line now!! The players need to get their arses into gear, win two games and hope we avoid relegation!! That way we start league 1 with no deductions!! A serious buyer takes a chance and we rebuid but from a level playing field!! Leicester showed its possible!! Yes, its a dark dark day, but if we can stay in existence with a new solid foundation, I will still believe that we can come back!! Hoping and praying My sentiments exactly. Lets hope we are now at rock bottom. Link to comment Share on other sites More sharing options...
trousers Posted 23 April, 2009 Share Posted 23 April, 2009 I am sick of the names of Rupert Lowe and Michael Wilde. They have tarnished all the memories that I have of what was once a great club and ruined the dreams for many kids in Southampton. I hope that we can move on and never mention them again. Except in posts saying we shouldn't mention them.... Link to comment Share on other sites More sharing options...
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