John B Posted 1 May, 2009 Share Posted 1 May, 2009 Most likely to put club into a CVA situation and try and agree a deal with the creditors to come out the otherside with the current club intact - gives him more time and also means that the club doesn't have to be reformed following a liquidation. If the latter we get relegated two divisions and as we are already down to Div 1 that means the BSP I thought things were supposed to get better when we went into Administration Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 1 May, 2009 Share Posted 1 May, 2009 one hour and 31 minutes left and another Friday will slip quietly past!! Link to comment Share on other sites More sharing options...
John B Posted 1 May, 2009 Share Posted 1 May, 2009 one hour and 31 minutes left and another Friday will slip quietly past!! Depends of course where you are Link to comment Share on other sites More sharing options...
benjii Posted 1 May, 2009 Share Posted 1 May, 2009 (edited) Isn't the stadium owned by a separate subsidiary of the PLC though? As such, why would someone buying just the 'Football Club' subsidiary need to discuss an asset of one of the other subsidiaries with Aviva? Assuming Aviva has some recourse against the PLC then it will doubtless be a term of the loan agreements that the PLC is not to dispose of any major assets without Aviva's consent. well regarding the stadium, surely its the stadium company that has a mortgage? , no one has said that the loan has been defaulted on have they? The insolvency of its parent company will be an event of default. If SLH sells the company, the company still has the mortgage so why does it need to be renegoiated? Assuming there has been an event of default (99.9999% likely, see above) then the loan can be called in. I think the main point is that the situation now is very different from the situation when this finance was put in place and, as such, a renegotiation will probably be in the best interests of Aviva and any buyer of the club and/or stadium irrespective of whether Aviva actually wanted to call in the loan or not. Now the administration has happened, their hand has been forced by Barclays. Its SLH thats in admin and for sale, the club, the stadium etc are assets and can be sold off individually to satisfy SLH creditors. Why would anyone buy SLH ? its only the assets they want, the money from the assets pays the creditors and SLH closes, or is that too simple? If that happens we can all watch the FL try and decide how SFC get into the fixture list without a CVA , which won't be required as SFC was never in Admin. Not too sure about that. If they can bend the rules with respect to the points penalty maybe they will do the same with regards to the CVA rules? That I believe is what the Administrators are working on, raising 6 million to pay Barclays and then anyone elses accounts which should be invoices probably on about 60 days of trading .The stadium debt isn't due. Edited 1 May, 2009 by benjii Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 1 May, 2009 Share Posted 1 May, 2009 Depends of course where you are very good point!! I was of course talking about Southampton the home of football lol!!!! Link to comment Share on other sites More sharing options...
John B Posted 1 May, 2009 Share Posted 1 May, 2009 (edited) very good point!! I was of course talking about Southampton the home of football lol!!!! I was out today in Winchester got home fully expecting to here something interesting absolutely nothing. So I suppose now back to the football on Saturday Edited 1 May, 2009 by John B Link to comment Share on other sites More sharing options...
carljack Posted 1 May, 2009 Share Posted 1 May, 2009 one hour and 31 minutes left and another Friday will slip quietly past!! Like the club which I once knew! SAINT TILL I DIE! Link to comment Share on other sites More sharing options...
Mole Posted 1 May, 2009 Share Posted 1 May, 2009 very good point!! I was of course talking about Southampton the home of football lol!!!! Were you posting from Somoa it would be Fri 1 May 10:39 a.m, but if you were posting from Tonga it would be Sat 1 May 10:39 a.m. Link to comment Share on other sites More sharing options...
lancelot link Posted 1 May, 2009 Share Posted 1 May, 2009 I was out today in Winchester got home fully expecting to here something interesting absolutely nothing. So I suppose now back to the football on Saturday well reading other posts on various pages it seems that some southampton based property owner/agency has strong links to MLT and we might just get to hear a bit more "imminently"..... heres hoping lol Link to comment Share on other sites More sharing options...
John B Posted 1 May, 2009 Share Posted 1 May, 2009 Were you posting from Somoa it would be Fri 1 May 10:39 a.m, but if you were posting from Tonga it would be Sat 1 May 10:39 a.m. Nobody from Samoa is likely to put in a bid today are they? Link to comment Share on other sites More sharing options...
John B Posted 1 May, 2009 Share Posted 1 May, 2009 well reading other posts on various pages it seems that some southampton based property owner/agency has strong links to MLT and we might just get to hear a bit more "imminently"..... heres hoping lol That was yesterdays news Link to comment Share on other sites More sharing options...
lancelot link Posted 1 May, 2009 Share Posted 1 May, 2009 That was yesterdays news well i read it that it could be tomorrows too. Guess time will tell. Heres hoping Link to comment Share on other sites More sharing options...
TheSaint75 Posted 1 May, 2009 Share Posted 1 May, 2009 well i read it that it could be tomorrows too. Guess time will tell. Heres hoping Is that just from reading other threads, or do you know something we don't? Link to comment Share on other sites More sharing options...
Master Bates Posted 1 May, 2009 Share Posted 1 May, 2009 Is that just from reading other threads, or do you know something we don't? Bear with him, he can't post again until tomorrow. Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 so is Saturday the new Friday or is just another day off!! either way after tomorrow, the only revenue we have coming in is the Forum match! Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 and saints aid and the saints charity match and my car boot sale!!! Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 May, 2009 Share Posted 2 May, 2009 Good grief, look at this thread. I leave you guys alone with a takeover thread for one day and WHAT HAPPENS... Morph tells us who's buying the club and all you guys do is yak on about how much Aviva want.... You even had an ITK post that was wrong.... It was an A340-600 not a 747. The overall trip experience gets about 13/20. Would have been more marks but no western crew and the cheese & mushroom omlette for breakfast was missing some key ingredients namely cheese & mushroom. Mind you the champoo was nice and incredibly timely I suppose. (oh and The new Abu Dhabi Airport terminal 3 they built for Mark Hughes is amazing - more 5 star hotel than airport) Busy day today shopping in London - damn I lurve you guys having a weak pound shop til drop time, some great bargains in HMV, shame I missed the eastleigh market jokes yesterday though. Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 Good grief, look at this thread. I leave you guys alone with a takeover thread for one day and WHAT HAPPENS... Morph tells us who's buying the club and all you guys do is yak on about how much Aviva want.... You even had an ITK post that was wrong.... It was an A340-600 not a 747. The overall trip experience gets about 13/20. Would have been more marks but no western crew and the cheese & mushroom omlette for breakfast was missing some key ingredients namely cheese & mushroom. Mind you the champoo was nice and incredibly timely I suppose. (oh and The new Abu Dhabi Airport terminal 3 they built for Mark Hughes is amazing - more 5 star hotel than airport) Busy day today shopping in London - damn I lurve you guys having a weak pound shop til drop time, some great bargains in HMV, shame I missed the eastleigh market jokes yesterday though. to be fair to morph, he did say you had the potential to be the finest saints manager since the war!!!!! Link to comment Share on other sites More sharing options...
Toadhall Saint Posted 2 May, 2009 Share Posted 2 May, 2009 Good grief, look at this thread. I leave you guys alone with a takeover thread for one day and WHAT HAPPENS... Morph tells us who's buying the club and all you guys do is yak on about how much Aviva want.... You even had an ITK post that was wrong.... It was an A340-600 not a 747. The overall trip experience gets about 13/20. Would have been more marks but no western crew and the cheese & mushroom omlette for breakfast was missing some key ingredients namely cheese & mushroom. Mind you the champoo was nice and incredibly timely I suppose. (oh and The new Abu Dhabi Airport terminal 3 they built for Mark Hughes is amazing - more 5 star hotel than airport) Busy day today shopping in London - damn I lurve you guys having a weak pound shop til drop time, some great bargains in HMV, shame I missed the eastleigh market jokes yesterday though. Sorry missed it in all the crap thats on here. Enjoy your day shopping - not that I know too many blokes that actually enjoy shopping! ;-) Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 Good grief, look at this thread. I leave you guys alone with a takeover thread for one day and WHAT HAPPENS... Morph tells us who's buying the club and all you guys do is yak on about how much Aviva want.... You even had an ITK post that was wrong.... It was an A340-600 not a 747. The overall trip experience gets about 13/20. Would have been more marks but no western crew and the cheese & mushroom omlette for breakfast was missing some key ingredients namely cheese & mushroom. Mind you the champoo was nice and incredibly timely I suppose. (oh and The new Abu Dhabi Airport terminal 3 they built for Mark Hughes is amazing - more 5 star hotel than airport) Busy day today shopping in London - damn I lurve you guys having a weak pound shop til drop time, some great bargains in HMV, shame I missed the eastleigh market jokes yesterday though. Have you got your Malcolm Allison managers coat yet???? Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 Get up wherever you are you!! I need a positive soundbite before I take the little lad swimming in 30 minutes!!!!!!! ARGHHHHHH Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 2 May, 2009 Share Posted 2 May, 2009 Were you posting from Somoa it would be Fri 1 May 10:39 a.m, but if you were posting from Tonga it would be Sat 1 May 10:39 a.m. That was yesterdays news Only if you were in Tonga!!! Of course by now, it would be yesterday for us as well....... Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 May, 2009 Share Posted 2 May, 2009 Have you got your Malcolm Allison managers coat yet???? Was given a sheepskin for my 18th... It fits my son these days And it's just a tad warm this week Shopping today for important things we can't get like Harrods Stilton Harvey Nick's Strawberry Jam and Primark of course! HMV have a great sale, 3 quid for a dvd is actually the same price as a dodgy dvd in Bangkok Luckily don't have internet at me mum's so won't be able to watch the world explode later in a big sneeze Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 Was given a sheepskin for my 18th... It fits my son these days And it's just a tad warm this week Shopping today for important things we can't get like Harrods Stilton Harvey Nick's Strawberry Jam and Primark of course! HMV have a great sale, 3 quid for a dvd is actually the same price as a dodgy dvd in Bangkok Luckily don't have internet at me mum's so won't be able to watch the world explode later in a big sneeze yeah, I made a big mistake of watching the news this week, I have been sneezing ever since lol! Link to comment Share on other sites More sharing options...
Doctoroncall Posted 2 May, 2009 Share Posted 2 May, 2009 If that happens we can all watch the FL try and decide how SFC get into the fixture list without a CVA , which won't be required as SFC was never in Admin. That's what I thought until I saw the FL statement, in it was this paragragh... "In light of all this advice, the Board concluded that an administrator had been appointed in respect of the Club or part of its undertaking or assets. Accordingly, it was left with no alternative other than to invoke its 'Sporting Sanctions' regulations and apply a 10 point penalty to the Club. The other provisions of The League's insolvency policy also become effective." So I think they can do what they want and we're totally screwed with other penalties coming our way if debts are not paid in full! Link to comment Share on other sites More sharing options...
saintwarwick Posted 2 May, 2009 Share Posted 2 May, 2009 Good grief, look at this thread. I leave you guys alone with a takeover thread for one day and WHAT HAPPENS... Morph tells us who's buying the club and all you guys do is yak on about how much Aviva want.... You even had an ITK post that was wrong.... It was an A340-600 not a 747. The overall trip experience gets about 13/20. Would have been more marks but no western crew and the cheese & mushroom omlette for breakfast was missing some key ingredients namely cheese & mushroom. Mind you the champoo was nice and incredibly timely I suppose. (oh and The new Abu Dhabi Airport terminal 3 they built for Mark Hughes is amazing - more 5 star hotel than airport) Busy day today shopping in London - damn I lurve you guys having a weak pound shop til drop time, some great bargains in HMV, shame I missed the eastleigh market jokes yesterday though. Did you bring your briefcase Link to comment Share on other sites More sharing options...
JustMike Posted 2 May, 2009 Share Posted 2 May, 2009 Was given a sheepskin for my 18th... It fits my son these days And it's just a tad warm this week Shopping today for important things we can't get like Harrods Stilton Harvey Nick's Strawberry Jam and Primark of course! HMV have a great sale, 3 quid for a dvd is actually the same price as a dodgy dvd in Bangkok Luckily don't have internet at me mum's so won't be able to watch the world explode later in a big sneeze Morning Gaffer :-) Link to comment Share on other sites More sharing options...
um pahars Posted 2 May, 2009 Share Posted 2 May, 2009 That's what I thought until I saw the FL statement, in it was this paragragh... "In light of all this advice, the Board concluded that an administrator had been appointed in respect of the Club or part of its undertaking or assets. Accordingly, it was left with no alternative other than to invoke its 'Sporting Sanctions' regulations and apply a 10 point penalty to the Club. The other provisions of The League's insolvency policy also become effective." So I think they can do what they want and we're totally screwed with other penalties coming our way if debts are not paid in full! Absolutely. The League have interpreted the rules and the situation to state that the Football Club are effectively in Admnistration and so effectively they could (and I think they will) do exactly the same with regards any CVA, in that they will once again deem the PLC and Club to be inextricably linked and therefore be treated as such. Link to comment Share on other sites More sharing options...
hamster Posted 2 May, 2009 Share Posted 2 May, 2009 Good grief, look at this thread. I leave you guys alone with a takeover thread for one day and WHAT HAPPENS... Morph tells us who's buying the club and all you guys do is yak on about how much Aviva want.... You even had an ITK post that was wrong.... It was an A340-600 not a 747. The overall trip experience gets about 13/20. Would have been more marks but no western crew and the cheese & mushroom omlette for breakfast was missing some key ingredients namely cheese & mushroom. Mind you the champoo was nice and incredibly timely I suppose. (oh and The new Abu Dhabi Airport terminal 3 they built for Mark Hughes is amazing - more 5 star hotel than airport) Busy day today shopping in London - damn I lurve you guys having a weak pound shop til drop time, some great bargains in HMV, shame I missed the eastleigh market jokes yesterday though. Yay, the ego has landed. Gaffer, I have some Harrods jam that is still in date if you want it? Special jam , I'm just about to take some up to Mrs h with a nice cup of tea. Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 May, 2009 Share Posted 2 May, 2009 Did you bring your briefcase Yeah saw that - was that a style only sold in Guernsey or did they get it at the market in Eastleigh??! You'll be pleased to know I have my extremely rugged Travel Power Case, the custom designed back-pack style laptop accessory that leaves my hands free for my Delsey Wheelie bag (conforms with IATA cabin size requirements of course), not to mention my Cleveland Golf Club protection Bag! You know it took 11 minutes from the door of the plane opening, clearing passport control, collecting my golf clubs and getting outside to a smoking area. Jeez this recession is bad felt I was the only person in Heathrow! If only takeovers were so quick and easy Meanwhile, how are the heroes that will make up the finest football team to take the field at SMS this season? Nervous? Excited? Hungover? Well the good news is that the Jaegermeister made it through customs! He promises - he delivers... But bad news is one of the "Red Bull concentrate" bottles got smashed - darn everything stinks of red bull now Link to comment Share on other sites More sharing options...
Horley CTFC Saint Posted 2 May, 2009 Share Posted 2 May, 2009 I thought things were supposed to get better when we went into Administration You didn't believe that rubbish surely?! Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 Yeah saw that - was that a style only sold in Guernsey or did they get it at the market in Eastleigh??! You'll be pleased to know I have my extremely rugged Travel Power Case, the custom designed back-pack style laptop accessory that leaves my hands free for my Delsey Wheelie bag (conforms with IATA cabin size requirements of course), not to mention my Cleveland Golf Club protection Bag! You know it took 11 minutes from the door of the plane opening, clearing passport control, collecting my golf clubs and getting outside to a smoking area. Jeez this recession is bad felt I was the only person in Heathrow! If only takeovers were so quick and easy Meanwhile, how are the heroes that will make up the finest football team to take the field at SMS this season? Nervous? Excited? Hungover? Well the good news is that the Jaegermeister made it through customs! He promises - he delivers... But bad news is one of the "Red Bull concentrate" bottles got smashed - darn everything stinks of red bull now Have you bought matt le Tissiers golden goals from HMV for a team morale boost netx week? Link to comment Share on other sites More sharing options...
OldNick Posted 2 May, 2009 Share Posted 2 May, 2009 Have you bought matt le Tissiers golden goals from HMV for a team morale boost netx week? No he has decided to scratch up on his tactics and bought a DVD of Mike Basset Football Manager. He needs a few tips to get on with. He is right now practising Rudyard Kiplings IF for his pre match interview. Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 I wonder if we get an update of any sort tomorrow before game, even if it is to say nothing has happened!! Bloody depressing this waiting lark!! Link to comment Share on other sites More sharing options...
John B Posted 2 May, 2009 Share Posted 2 May, 2009 You didn't believe that rubbish surely?! No just being ironic I think we will probably lose at lot of players at deflated prices Link to comment Share on other sites More sharing options...
Delmary Posted 2 May, 2009 Share Posted 2 May, 2009 We might get some good news soon (runs away and hides before the flack comes) http://www.saintsweb.co.uk/forum/showthread.php?t=12756&page=9 post #420 I think Ron's onto something;) Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 May, 2009 Share Posted 2 May, 2009 I dunno, these respected posters offering good news, whatever next !!!!! Link to comment Share on other sites More sharing options...
BGF Posted 2 May, 2009 Share Posted 2 May, 2009 http://www.timesonline.co.uk/tol/sport/football/football_league/article6211415.ece Link to comment Share on other sites More sharing options...
Gemmel Posted 2 May, 2009 Share Posted 2 May, 2009 http://www.timesonline.co.uk/tol/sport/football/football_league/article6211415.ece Ouch ....please no Link to comment Share on other sites More sharing options...
buctootim Posted 2 May, 2009 Share Posted 2 May, 2009 http://www.timesonline.co.uk/tol/sport/football/football_league/article6211415.ece Its a wake up call to those who still think a billionaire will waltz in and save us. Try as I might I cant see why anyone would stump up £15m for a L1 club, unfortunately. Link to comment Share on other sites More sharing options...
thefuriousb Posted 2 May, 2009 Share Posted 2 May, 2009 http://www.timesonline.co.uk/tol/sport/football/football_league/article6211415.ece The worrying bit is the Inland Revenue. They do not agree to CVAs, unless they get every single penny of what they are owed. To this point, I thought we were up to date with them? Minus 10 is not the end of the penalties if this is true. Link to comment Share on other sites More sharing options...
Saints foreva Posted 2 May, 2009 Share Posted 2 May, 2009 I knew no buyer would come.. Link to comment Share on other sites More sharing options...
trousers Posted 2 May, 2009 Share Posted 2 May, 2009 (edited) It's a bizarre catch-22 that we can't sell season tickets in case we cease to exist but it's the very fact we can't sell season tickets that is likely bring us down. Bizarre. Sell season tickets = financial saftely = no risk that season ticket won't be honoured Am I missing something here? Edited 2 May, 2009 by trousers Link to comment Share on other sites More sharing options...
Mole Posted 2 May, 2009 Share Posted 2 May, 2009 Don't panic, we'll be bought out on Tuesday. Link to comment Share on other sites More sharing options...
Saintjersey Posted 2 May, 2009 Share Posted 2 May, 2009 Any chances of us finding out tomorrow? Link to comment Share on other sites More sharing options...
trousers Posted 2 May, 2009 Share Posted 2 May, 2009 Don't panic, we'll be bought out on Tuesday. What time of day will the announcement be? Am heading off to Prague for the week first thing Tuesday. Would hate to miss the takeover announcement after two years of pressing F5 without food or water. Link to comment Share on other sites More sharing options...
Gemmel Posted 2 May, 2009 Share Posted 2 May, 2009 Don't panic, we'll be bought out on Tuesday. Thursday Link to comment Share on other sites More sharing options...
lancelot link Posted 2 May, 2009 Share Posted 2 May, 2009 I have it on good authority that MLT is backing one of the potential buyers who are willing to inject some cash while they carry on their due diligence...... be nice to hear some confirmation of this.... Link to comment Share on other sites More sharing options...
Deano6 Posted 2 May, 2009 Share Posted 2 May, 2009 Were you posting from Somoa it would be Fri 1 May 10:39 a.m, but if you were posting from Tonga it would be Sat 1 May 10:39 a.m. There is no such date as Sat 1 May this year. Link to comment Share on other sites More sharing options...
trousers Posted 2 May, 2009 Share Posted 2 May, 2009 I have it on good authority that MLT is backing one of the potential buyers who are willing to inject some cash while they carry on their due diligence...... be nice to hear some confirmation of this.... Isn't hearing it "on good authority" confirmation enough? Link to comment Share on other sites More sharing options...
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