miserableoldgit Posted 29 April, 2009 Share Posted 29 April, 2009 We do know they have asked the league to approve a buyer. We all just going to have to swim around a bit longer until some more pellets are chucked in. Is this a cryptic clue (like "Trawlers and Seagulls)?? Bugger, my head is spinning now - but not in "The Excorsist" sense. Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 Bingo! Add him to the list! Loved him singing "Trouble over Bridgewater" Paul Simon must be worth a bit too. LOL! If he bought us, everyone should change their name to Al. Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 29 April, 2009 Share Posted 29 April, 2009 Bridge over troubled water actually Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 Bridge over troubled water actually Nooooooo :shock: All we are hearing at the moment is the Sound of Silence! Link to comment Share on other sites More sharing options...
Toomer Posted 29 April, 2009 Share Posted 29 April, 2009 Nooooooo :shock: All we are hearing at the moment is the Sound of Silence! More like a cartoon in a cartoon grave yard. Link to comment Share on other sites More sharing options...
miserableoldgit Posted 29 April, 2009 Share Posted 29 April, 2009 Bridge over troubled water actually OH NO! I didn`t get that wrong did I??:shock: Link to comment Share on other sites More sharing options...
SoccerMom Posted 29 April, 2009 Share Posted 29 April, 2009 LOL! If he bought us, everyone should change their name to Al. And sing "Diamonds in the lobes of their ears".... Link to comment Share on other sites More sharing options...
Fitzhugh Fella Posted 29 April, 2009 Share Posted 29 April, 2009 You won't hear Rupert singing "Gotta keep the customer satisfied" Link to comment Share on other sites More sharing options...
Charlie Wayman Posted 29 April, 2009 Share Posted 29 April, 2009 SSN reports that they expect an anouncement in the next 24hrs and there could be further developments today. Mark Fry has been here long enough to know the sensitivity surrounding Lowe's name so surely he would not sell to a Scott led consortium that aimed to put Lowe back at the helm? I cannot believe that he would sell to just anybody who had the wherewithal just to close the books amd move on. After all he too is in a process of due diligence to see if 'fit person' applies. Knowing that only two loonies and their mangy dog will show for Lowe, Fry will surely realise that lowe = low gates and no profit. That doesn't sound like due diligence at it's best. On the other hand the Channel Islands connection keeps looming, the Channel Islands are small; how many "lifelong Saints fans with dosh and no sense" can there be in such a small population? It has to be Scott whoever is put up as a front man. Pas me the tranquiliser gun. Link to comment Share on other sites More sharing options...
Gemmel Posted 29 April, 2009 Share Posted 29 April, 2009 Mark Fry has been here long enough to know the sensitivity surrounding Lowe's name so surely he would not sell to a Scott led consortium that aimed to put Lowe back at the helm? I cannot believe that he would sell to just anybody who had the wherewithal just to close the books amd move on. After all he too is in a process of due diligence to see if 'fit person' applies. Knowing that only two loonies and their mangy dog will show for Lowe, Fry will surely realise that lowe = low gates and no profit. That doesn't sound like due diligence at it's best. On the other hand the Channel Islands connection keeps looming, the Channel Islands are small; how many "lifelong Saints fans with dosh and no sense" can there be in such a small population? It has to be Scott whoever is put up as a front man. Pas me the tranquiliser gun. If lowe or lowes consortium have the best bid - they win, it's as simple as that. Whilst Mark Fry may have a passing interest in what happens to us, his single biggest priority is to the creditors and to get as much as he can for them. If offer "A" is 15 million with a host of well conneced people all pledging money for transfers etc, with the intent of getting promotion etc and making sure the club survive. If offer "B" is 18 million, with the intention of letting jacksons farm to passing gypsys, turn Staplewood into allotments and St Mary's into a drive in cinema ...................offer B wins Link to comment Share on other sites More sharing options...
cavey300 Posted 29 April, 2009 Share Posted 29 April, 2009 What about these guys perhaps, not sure if they have already been mentioned or not... http://en.wikipedia.org/wiki/David_and_Frederick_Barclay Link to comment Share on other sites More sharing options...
OldNick Posted 29 April, 2009 Share Posted 29 April, 2009 If lowe or lowes consortium have the best bid - they win, it's as simple as that. Whilst Mark Fry may have a passing interest in what happens to us, his single biggest priority is to the creditors and to get as much as he can for them. If offer "A" is 15 million with a host of well conneced people all pledging money for transfers etc, with the intent of getting promotion etc and making sure the club survive. If offer "B" is 18 million, with the intention of letting jacksons farm to passing gypsys, turn Staplewood into allotments and St Mary's into a drive in cinema ...................offer B winsOffer B does sound mouthwatering, I could understand him accepting that one. Of course you are right with your assessment Link to comment Share on other sites More sharing options...
Kingsland Red Posted 29 April, 2009 Share Posted 29 April, 2009 Weren't the Barclays the guys who stood for election on their small Channel Island, lost and then shut down everything making all the residents who voted against them redundant. Nice people to do business with. Link to comment Share on other sites More sharing options...
Danny Posted 29 April, 2009 Share Posted 29 April, 2009 (edited) Right, I'll try posting something up again! The Echo have pics of them at SMS. http://www.dailyecho.co.uk/sport/saints/news/4328611.First_look_at_Saints__potential_new_owners_at_St_Mary_s/ Edited 29 April, 2009 by Danny ****-up Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 29 April, 2009 Share Posted 29 April, 2009 Mark Fry has been here long enough to know the sensitivity surrounding Lowe's name so surely he would not sell to a Scott led consortium that aimed to put Lowe back at the helm? I cannot believe that he would sell to just anybody who had the wherewithal just to close the books amd move on. After all he too is in a process of due diligence to see if 'fit person' applies. Knowing that only two loonies and their mangy dog will show for Lowe, Fry will surely realise that lowe = low gates and no profit. That doesn't sound like due diligence at it's best. On the other hand the Channel Islands connection keeps looming, the Channel Islands are small; how many "lifelong Saints fans with dosh and no sense" can there be in such a small population? It has to be Scott whoever is put up as a front man. Pas me the tranquiliser gun. You do have to accept that in many, many cases the exisiting management is part of the buyout and the Administrator will listen to their offers seriously because they know the business better than anyone. Just because a management screwed the business up once, does not mean they are necessarily bad people or could not rectify their mistakes. Fry's duty is to the creditors not the customers, unfortunately... However, I cannot see that any buyer would want Lowe involved - and that's what we must focus on. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 April, 2009 Share Posted 29 April, 2009 Mark Fry has been here long enough to know the sensitivity surrounding Lowe's name so surely he would not sell to a Scott led consortium that aimed to put Lowe back at the helm? I cannot believe that he would sell to just anybody who had the wherewithal just to close the books amd move on. After all he too is in a process of due diligence to see if 'fit person' applies. Knowing that only two loonies and their mangy dog will show for Lowe, Fry will surely realise that lowe = low gates and no profit. That doesn't sound like due diligence at it's best. On the other hand the Channel Islands connection keeps looming, the Channel Islands are small; how many "lifelong Saints fans with dosh and no sense" can there be in such a small population? It has to be Scott whoever is put up as a front man. Pas me the tranquiliser gun. Sorry Charlie, but Fry's responibility is to creditors, not customers or the future well being of teh club. He will accept the offer (to which he is duty bound as the admionistrator) that provides the best deal for ALL creditors - irrespective of what that means top the club going forward - Fry is not doing due diligence, its teh potential bidders who are doing that, Fry will merely wait until the last possible moment and accept the best there is. IF there was a serious bidder who was by far the best and had made an offer by now it would ahve been accepted .... I get the feeling that we ill be underwhelmed.... and also that those still in the mix are playing teh waiting agme - the longer they leave it until things get despearte,, the better bargain tehy might get - better for the new owners in shelling out less, but worse fro the creditors - Its What I have issues with because we start a new era on ethically and morally dubious grounds... As far as I am aware the FL can also deduct further points if as a result of administration we avoid paying the lions share of debt off - some may think its a great way of 'clearing the debt and starting afresh' but if teh new owners want to do it on the cheap, we could be looking at another 7-10 points on top of what we have already been deducted....and some said it was the way to go.... Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 April, 2009 Share Posted 29 April, 2009 Right, I'll try posting something up again! The Echo have pics of them at SMS. http://www.dailyecho.co.uk/sport/saints/news/4328611.First_look_at_Saints__potential_new_owners_at_St_Mary_s/ 'Barry Briefcase's son?' ;-) Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 Frank I can't quite agree with your comment 'IF there was a serious bidder who was by far the best and had made an offer by now it would ahve been accepted'. If, as widely reported, he has three serious bidders, I rather suspect he's looking at a Best and Final Offer from all three in order to decide which is best within the remit he has. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 April, 2009 Share Posted 29 April, 2009 Frank I can't quite agree with your comment 'IF there was a serious bidder who was by far the best and had made an offer by now it would ahve been accepted'. If, as widely reported, he has three serious bidders, I rather suspect he's looking at a Best and Final Offer from all three in order to decide which is best within the remit he has. True, but what i suspect is that all three are offering as little as possible - rather than an obvious front runner who is prepared to service the debt close to its entirity, which is the most moral if not pragmatic approach - we do run the risk of further points reductions if these bidders are all only offering 40-50p in the pound - I cant remember where but I think if you dont get close to apying at least 60% of the debt the FL can step in..... Link to comment Share on other sites More sharing options...
krissyboy31 Posted 29 April, 2009 Share Posted 29 April, 2009 True' date=' but what i suspect is that all three are offering as little as possible - rather than an obvious front runner who is prepared to service the debt close to its entirity, which is the most moral if not pragmatic approach - we do run the risk of further points reductions if these bidders are all only offering 40-50p in the pound - I cant remember where but I think if you dont get close to apying at least 60% of the debt the FL can step in.....[/quote'] I would imagine it's a bit like buying a house. After the survey (due diligence) you put a bid on the table, it's invariably turned down for being too low. You go away and think about it, you know that the vendor wants a quick sell because of possible repossession. You make another offer (or not, as the case may be), the vendor reluctantly accepts (or not, as the case may be). Link to comment Share on other sites More sharing options...
Saint Billy Posted 29 April, 2009 Share Posted 29 April, 2009 Even if we do get an offer, it can be withdrawn at the very last minute if nothing is signed, just check out what has happened to Darlington today. http://news.bbc.co.uk/sport2/hi/football/teams/d/darlington/8022326.stm Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 Even if we do get an offer, it can be withdrawn at the very last minute if nothing is signed, just check out what has happened to Darlington today. http://news.bbc.co.uk/sport2/hi/football/teams/d/darlington/8022326.stm Brinkmanship IMO - and no doubt we'll get some of that too. Link to comment Share on other sites More sharing options...
saint_stevo Posted 29 April, 2009 Share Posted 29 April, 2009 Quinton looks like a child and Steele looks like Dom Joly Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 April, 2009 Share Posted 29 April, 2009 I would imagine it's a bit like buying a house. After the survey (due diligence) you put a bid on the table, it's invariably turned down for being too low. You go away and think about it, you know that the vendor wants a quick sell because of possible repossession. You make another offer (or not, as the case may be), the vendor reluctantly accepts (or not, as the case may be). Yep and thats all fair enough apart from the danger that a TOO low a bid although acceptable to creditors poses - because just because the creditors accept your 35 or 50p in teh pound, does not excempt the club from further penalties from the FL.... Also after all the feckin s h!te flying round against the previous regimes and teh moral and ethical accustaions thrown at them, seems just a tad feckin hypocritical if we are willing to accept new owners who get us cheaply by screwing not just Barclays and Aviva, but all those smaller compaines to whom monies are owed - who are lower down the list. Link to comment Share on other sites More sharing options...
Gemmel Posted 29 April, 2009 Share Posted 29 April, 2009 True' date=' but what i suspect is that all three are offering as little as possible - rather than an obvious front runner who is prepared to service the debt close to its entirity, which is the most moral if not pragmatic approach - we do run the risk of further points reductions if these bidders are all only offering 40-50p in the pound - I cant remember where but I think if you dont get close to apying at least 60% of the debt the FL can step in.....[/quote'] (Im no expert on this Frank, so could be wrong) I don't think it matters how much in the pound they get back, but more the owners of more than 70% of the debt accept what is being offered,which then means we would get the CVA and no furtherpoints deduction. If we can't agree a CVA then we WILL get more points deducted. As AVIVA and Barclays together are past 70% of the total debt (Could even be AVIVA by themselves) it doesn't matter that any others oppose it (Even IR) as long as those two do Link to comment Share on other sites More sharing options...
miserableoldgit Posted 29 April, 2009 Share Posted 29 April, 2009 'Barry Briefcase's son?' ;-) Terry Toolbag? Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 April, 2009 Share Posted 29 April, 2009 (Im no expert on this Frank, so could be wrong) I don't think it matters how much in the pound they get back, but more the owners of more than 70% of the debt accept what is being offered,which then means we would get the CVA and no furtherpoints deduction. If we can't agree a CVA then we WILL get more points deducted. As AVIVA and Barclays together are past 70% of the total debt (Could even be AVIVA by themselves) it doesn't matter that any others oppose it (Even IR) as long as those two do Think HMRC get first dibs and are impossible not to pay.... Link to comment Share on other sites More sharing options...
Frank's cousin Posted 29 April, 2009 Share Posted 29 April, 2009 Terry Toolbag? Love it! ;-) Link to comment Share on other sites More sharing options...
krissyboy31 Posted 29 April, 2009 Share Posted 29 April, 2009 Yep and thats all fair enough apart from the danger that a TOO low a bid although acceptable to creditors poses - because just because the creditors accept your 35 or 50p in teh pound, does not excempt the club from further penalties from the FL.... Also after all the feckin s h!te flying round against the previous regimes and teh moral and ethical accustaions thrown at them, seems just a tad feckin hypocritical if we are willing to accept new owners who get us cheaply by screwing not just Barclays and Aviva, but all those smaller compaines to whom monies are owed - who are lower down the list. TBH, I think the FL can only sanction if we do not exit a CVA by a certain date, or footballing debts are not paid in full. You could argue that the overdraft is a footballing debt but the mortgage is not. Therefore if Aviva are prepared to take 40p in the £ (c £10M), its none of their business. Link to comment Share on other sites More sharing options...
OldNick Posted 29 April, 2009 Share Posted 29 April, 2009 Think HMRC get first dibs and are impossible not to pay.... I think HMRC are not first in the queue any longer. They will though not agree to a CVA without being paid.I was told some weeks ago that the club had paid its liabilities to them , but of course since then more would have become due Link to comment Share on other sites More sharing options...
Scummer Posted 29 April, 2009 Share Posted 29 April, 2009 Think HMRC get first dibs and are impossible not to pay.... I think Gemmel is right, it needs approval by 70% of creditors. It just so happens that for most clubs who have gone into admin, HMRC are one of the major creditors. They won't sign a CVA giving them less than what they are owed, which is why other clubs have not been able to agree a CVA. Link to comment Share on other sites More sharing options...
Saint Billy Posted 29 April, 2009 Share Posted 29 April, 2009 Worrying that it is getting so close to the wire even if there is cat and mouse involved. Surley things need to be more advanced than they seemingly are, we are not even sure if we can financially cover the Forest game. If someone/consortium does agree to buy the club now, is there enough time to administrate everything? Link to comment Share on other sites More sharing options...
hypochondriac Posted 29 April, 2009 Share Posted 29 April, 2009 I thought we had to settle all football related debts before HMRC? Link to comment Share on other sites More sharing options...
Gemmel Posted 29 April, 2009 Share Posted 29 April, 2009 Think HMRC get first dibs and are impossible not to pay.... Is that on the total that is owed or the % agreed Link to comment Share on other sites More sharing options...
Horley CTFC Saint Posted 29 April, 2009 Share Posted 29 April, 2009 Think HMRC get first dibs and are impossible not to pay.... They accepted 50p in the £ on Crawley Town's CVA albeit grudgingly and after having voted down a number of previous CVA exit proposals. Anyway I am not aware that the administrator has put either SLH or the club into CVA at the moment Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 29 April, 2009 Share Posted 29 April, 2009 I thought we had to settle all football related debts before HMRC? Yeah, can someone clarify this EXACTLY - otherwise we will be whacked with another points deduction!!! So what is the requirement? Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 Is that on the total that is owed or the % agreed Hasn't it always been said that we've always been up to date with our tax payments? Link to comment Share on other sites More sharing options...
Gemmel Posted 29 April, 2009 Share Posted 29 April, 2009 Hasn't it always been said that we've always been up to date with our tax payments? Yep, so if true, anything owing shouldn't be too chunky. Weston Saint, mentioned a few months ago he didn't think they were a big creditor Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 April, 2009 Share Posted 29 April, 2009 Hasn't it always been said that we've always been up to date with our tax payments? A lot of things have been said, some of them aren't particularly accurate. Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 I thought we had to settle all football related debts before HMRC? This article, again from the Guardian albeit last year, might give some clues: http://www.guardian.co.uk/football/2008/may/07/leedsappeal Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 SSN just reporting that the two guys from Jersey have flown home. Showed pics of them at the airport. SSN also said 'the club is in administration'. Sloppy, sloppy journalism. Link to comment Share on other sites More sharing options...
Paul Chuckle Posted 29 April, 2009 Share Posted 29 April, 2009 http://www.dailyecho.co.uk/news/4328611.First_look_at_Saints__potential_new_owners_at_St_Mary_s/ here they are :o/ Link to comment Share on other sites More sharing options...
NickG Posted 29 April, 2009 Share Posted 29 April, 2009 can Hubbard afford a haircut? Link to comment Share on other sites More sharing options...
Paul Chuckle Posted 29 April, 2009 Share Posted 29 April, 2009 Just got a text from my dad that an announcement by administrator at 12:20 today???? He usually has Radio Solent on at work so must have heard on there? Link to comment Share on other sites More sharing options...
Window Cleaner Posted 29 April, 2009 Share Posted 29 April, 2009 can Hubbard afford a haircut? Strange of people to name a youngster Quinten when his family name was Hubbard already. Sort of good on ya gesture towards the suicide of Ron Hubbard's son of the same name. Link to comment Share on other sites More sharing options...
thesaint sfc Posted 29 April, 2009 Share Posted 29 April, 2009 Just got a text from my dad that an announcement by administrator at 12:20 today???? He usually has Radio Solent on at work so must have heard on there? Hmmm. Link to comment Share on other sites More sharing options...
bridge too far Posted 29 April, 2009 Share Posted 29 April, 2009 Hmmm. http://www.saintsweb.co.uk/forum/showthread.php?t=12740 Link to comment Share on other sites More sharing options...
wireframebox Posted 29 April, 2009 Share Posted 29 April, 2009 SSN just reported that Steele and Hubbard are hopeful of securing a deal for the club within the next 48 hours. They showed pictures of them checking in at Southampton Airport. Link to comment Share on other sites More sharing options...
krissyboy31 Posted 29 April, 2009 Share Posted 29 April, 2009 SSN just reported that Steele and Hubbard are hopeful of securing a deal for the club within the next 48 hours. They showed pictures of them checking in at Southampton Airport. Yes, saw that! Doesn't exactly tie in with this morning's interview Fry had with Radio Solent. Link to comment Share on other sites More sharing options...
Master Bates Posted 29 April, 2009 Share Posted 29 April, 2009 They've just been on SSN getting on the plane back to the Channel Islands, look a handsome couple. Link to comment Share on other sites More sharing options...
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