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News - SFC in talks with some bloke in Eastleigh market flogging tat out of a box

lee_saint

By lee_saint
in The Saints

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John B

John B

Posted
Posted
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

benjii

benjii

Posted
Posted (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 by benjii
John B

John B

Posted
Posted (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 by John B
Mole

Mole

Posted
Posted
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.

lancelot link

lancelot link

Posted
Posted
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

John B

John B

Posted
Posted
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?

John B

John B

Posted
Posted
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

TheSaint75

TheSaint75

Posted
Posted
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?

dubai_phil

dubai_phil

Posted
Posted

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.

thorpie the sinner

thorpie the sinner

Posted
Posted
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!!!!!

Toadhall Saint

Toadhall Saint

Posted
Posted
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! ;-)

thorpie the sinner

thorpie the sinner

Posted
Posted
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????

Gorgiesaint

Gorgiesaint

Posted
Posted
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!!! :D

 

Of course by now, it would be yesterday for us as well.......

dubai_phil

dubai_phil

Posted
Posted
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

thorpie the sinner

thorpie the sinner

Posted
Posted
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!

Doctoroncall

Doctoroncall

Posted
Posted

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!

saintwarwick

saintwarwick

Posted
Posted
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 ;)

JustMike

JustMike

Posted
Posted
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 :-)

um pahars

um pahars

Posted
Posted
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.

hamster

hamster

Posted
Posted
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.

dubai_phil

dubai_phil

Posted
Posted
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

thorpie the sinner

thorpie the sinner

Posted
Posted
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?

OldNick

OldNick

Posted
Posted
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.

John B

John B

Posted
Posted
You didn't believe that rubbish surely?!

 

No just being ironic

 

I think we will probably lose at lot of players at deflated prices

trousers

trousers

Posted
Posted (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 by trousers
trousers

trousers

Posted
Posted
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.

lancelot link

lancelot link

Posted
Posted

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....

Deano6

Deano6

Posted
Posted
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.

trousers

trousers

Posted
Posted
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?

 

:)

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