Who Else is Preparing for the Worst?

[aintforever]

Morgan cost 750euro at the time which was about 450k then.He was touted as a star for the future and i dont criticise RL for taking him on.Had we not and he had an injury free seaosn somewhere else im sure fans would soon have said the club were being shortsighted not going for him.

In time I believe there will be some questions asked more fully about why Fry (barclays manager in charge of our account) who is a saints fan pulled the plug after the 10 point penalty came into play. It is too simplistic to say he had enough of RL and so pulled the plug then. i dont know myself what brought that on, bu5t him being a saints fan who was at the board meetings and also basically giving the go ahead to all meetings had to have something happen for him to do so with that timing.

RL etc had no warning of his action and so i think another outside source must have come into play.We had cut our overdraft by 2 m and so it would be fair to say we were keeping to our side of the deal.If he had either forced us to sell in Jan or given us enough slack for a few more weeks to carry on then we could have sold a few players to cover the shortfall.

As i say IMHO there must be more to this than has yet come out.

Just an example of my thoughts did a interested party give assurances or reason for him to believe it would be easier to sell if he pulled the plug? it is all imaginary Im sure but it still plays on my mind why he did so at that particular moment in time.

 

You're ignoring the fact that he is ****.

[Windmill Arm 2]

Rubbish attention seeking scaremongering.

 

Agree 100%

[Clapham Saint]

Basically no one has a ****ing clue whats going on do they? It does make sense to prepare for the worst like you say, though, just because it will help to soften the blow slightly if 'the worst' does indeed happen.

 

I'd say "prepare for the worst, hope for the best" is the best approach right now.

 

If you don't want to go totally nuts anyway.

[SW11_Saint]

I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is.

 

Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree?

What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"?

 

It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 120 years.

 

How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support....

What a ray of sunshine you are. Why not keep schtum until the announcement is made. No point thinking about anything until it happens - and it WILL happen.

 

If you want to vent some frustration, why not focus on the imbecile who got us into this ridiculous state in the first place...?

[OldNick]

True, but I really believe that the value of the assets split up is very low indeed (relatively speeking).

 

Aside from the stadium there isn't a lot to sell and even that would be worth considerably less with no team to play in it.

 

Jackson's farm can be sold sparately to the club anyway and so doesn't enter the equation.

I see what you say and so of course you are right.

[Saint Richard of Woolston]

Once again, GM, a highly perceptive analysis that will get howled down by a few but will nevertheless not have its correctness devalued.

 

I am certainly in 'total panic mode' now and have been since around the middle of last week.

 

Whilst preparing for the worst, I continue to look for salvation on the horizon but really cannot see where it is coming from now. Please God, I am wrong.

[Mole]

Once again, GM, a highly perceptive analysis that will get howled down by a few but will nevertheless not have its correctness devalued.

 

I am certainly in 'total panic mode' now and have been since around the middle of last week.

 

Whilst preparing for the worst, I continue to look for salvation on the horizon but really cannot see where it is coming from now. Please God, I am wrong.

 

I think you should throw yourself off the Itchen Bridge.

[dubai_phil]

I think you should throw yourself off the Itchen Bridge.

 

Good advice - Jump now - might beat the queues later in the week if nothing gets sorted out

[Saint Richard of Woolston]

I think you should throw yourself off the Itchen Bridge.

 

You are quite amusing, in a macabre sort of way.

[Clapham Saint]

Good advice - Jump now - might beat the queues later in the week if nothing gets sorted out

 

Lol

[NickG]

Once again, GM, a highly perceptive analysis that will get howled down by a few but will nevertheless not have its correctness devalued.

 

I am certainly in 'total panic mode' now and have been since around the middle of last week.

 

Whilst preparing for the worst, I continue to look for salvation on the horizon but really cannot see where it is coming from now. Please God, I am wrong.

 

where's the analysis?

[Ed Rooney]

I think you should throw yourself off the Itchen Bridge.

 

Watch out for Lowe on the way down

[aintforever]

What would the banks get on liquidation?

 

If the club folds then the players are worthless - their contracts will be cancelled and they will be free agents.

 

SMS would be worth naff all as the Council have made it pretty clear that it will stay as a stadium.

 

That leaves Staplewood, the Academy and a bit of farmlend in Hedge End - can't be worth alot.

 

If the bids for SFC are rubbish surely it makes sense to accept it and flog off things not needed like Staplewood, the farm, academy etc. Then at least they can sell SMS so that it could be rented back to SFC and have some value.

[alpine_saint]

I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is.

 

Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree?

What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"?

 

It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 120 years.

 

How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support....

 

Sadly, I am in complete agreement.

 

I think Fry has had his time wasted big time, though I am not so sure he will be particularly disappointed about it, somehow.

[Window Cleaner]

What would the banks get on liquidation?

 

If the club folds then the players are worthless - their contracts will be cancelled and they will be free agents.

 

SMS would be worth naff all as the Council have made it pretty clear that it will stay as a stadium.

 

That leaves Staplewood, the Academy and a bit of farmlend in Hedge End - can't be worth alot.

 

If the bids for SFC are rubbish surely it makes sense to accept it and flog off things not needed like Staplewood, the farm, academy etc. Then at least they can sell SMS so that it could be rented back to SFC and have some value.

 

Not necessarily, if we pay the players this time round then I think we'll be able to start selling some of them immediately afterward so on that front the 21st May hurdle is probably the last. At least 3 million can be obtained from selling players and that's a very conservative estimate cos I'm not counting all the 150Ks that we can get for the young lads.The council might be persuaded to buy the Stadium (with the University) for a knock down 6 or 7 million. Then there's the couple of bits of land and all the equipment that

a football club would have hanging about. So unless someone is offering

12/15 million to take everything on as a going concern then their bid will probably get knocked back.

[slickmick]

Once again, GM, a highly perceptive analysis that will get howled down by a few but will nevertheless not have its correctness devalued.

 

I am certainly in 'total panic mode' now and have been since around the middle of last week.

 

Whilst preparing for the worst, I continue to look for salvation on the horizon but really cannot see where it is coming from now. Please God, I am wrong.

 

 

A few weeks back we were told that we might not see out the season, such was our financial plight. We were told that we needed sell out gates, which we didn't get.

Now we seem to be surviving on thin air. How ?

We were either exagerated to, or the banks are aware of the offers on the table and are happy to go along with it for now. So my guess is, that they would have pulled the plug by now if there was nothing in the pipe line.

[Stirchleysaint]

Now we seem to be surviving on thin air. How ?

The next payment point hasn't been reached. May 21st is the next date of importance. 10 days for bids to get serious or the consequences are unthinkable.

[Doctoroncall]

where's the analysis?

 

lol!

 

when fear takes a grip, the risk assessment goes out of the window... oink oink.

[Frank's cousin]

Not necessarily, if we pay the players this time round then I think we'll be able to start selling some of them immediately afterward so on that front the 21st May hurdle is probably the last. At least 3 million can be obtained from selling players and that's a very conservative estimate cos I'm not counting all the 150Ks that we can get for the young lads.The council might be persuaded to buy the Stadium (with the University) for a knock down 6 or 7 million. Then there's the couple of bits of land and all the equipment that

a football club would have hanging about. So unless someone is offering

12/15 million to take everything on as a going concern then their bid will probably get knocked back.

 

Kinda off what I was thinking and it depend on who holds the registrations SLH or SFC Ltd... as we have been told SFC is continuing to trade and is not in admin (although if thats the case why no ST sales?) If SLH wer to go into liquidation, would SFC Ltd if still paying its bills and wages automatically fold, or would it be an asset for sale - thus could SFC ltd sell players over the summer to keep it afloat and a going concern, even if had to move out of SMS and into a portakabin in the car park?

[John B]

Kinda off what I was thinking and it depend on who holds the registrations SLH or SFC Ltd... as we have been told SFC is continuing to trade and is not in admin (although if thats the case why no ST sales?) If SLH wer to go into liquidation' date=' would SFC Ltd if still paying its bills and wages automatically fold, or would it be an asset for sale - thus could SFC ltd sell players over the summer to keep it afloat and a going concern, even if had to move out of SMS and into a portakabin in the car park?[/quote']

Yes OK but who is running SFC at the moment and do they actually care about next season.

[Window Cleaner]

Kinda off what I was thinking and it depend on who holds the registrations SLH or SFC Ltd... as we have been told SFC is continuing to trade and is not in admin (although if thats the case why no ST sales?) If SLH wer to go into liquidation' date=' would SFC Ltd if still paying its bills and wages automatically fold, or would it be an asset for sale - thus could SFC ltd sell players over the summer to keep it afloat and a going concern, even if had to move out of SMS and into a portakabin in the car park?[/quote']

 

 

 

I wouldn't count on SLH and SFC being separate entities faced with the debts

if I was you. SLH owns SFC and it and it's component parts can be disposed of by the SLH administrator. Anything the club "owns" can be sold to placate SLH's creditors.

[superstevesaints]

you silly little person, we will be taken over in the next few days, saints will not cease to exit ever, so stop saying this rubbish

[Micky]

you silly little person, we will be taken over in the next few days, saints will not cease to exit ever, so stop saying this rubbish

 

A rather blinkered view - you could very well be correct in your assumptions. With a little more perspective though you might, just might, have deduced that it is not most peoples fear that we might not get taken over - rather, we are worried, by whom.

 

BTW - If you are so sure of your stance - please feel free to enlighten us as to who will be taking us over and when - you could probably alay the fears of lots of 'silly little people'.

[Red and White Army]

Sadly, I am in complete agreement.

 

Chaning your mind now then alpine? Realised that administration is a complete disaster, as some of us were saying all long? :axe:

[aintforever]

Not necessarily, if we pay the players this time round then I think we'll be able to start selling some of them immediately afterward so on that front the 21st May hurdle is probably the last. At least 3 million can be obtained from selling players and that's a very conservative estimate cos I'm not counting all the 150Ks that we can get for the young lads.The council might be persuaded to buy the Stadium (with the University) for a knock down 6 or 7 million. Then there's the couple of bits of land and all the equipment that

a football club would have hanging about. So unless someone is offering

12/15 million to take everything on as a going concern then their bid will probably get knocked back.

 

Even if the club was to wait until the transfer window opens as soon as other clubs get a wiff of us folding there is no way they will pay a fee, they will just tell the player to wait until we go under so they can get them for free - they get a player for nothing, the player gets higher wages and their agent gets a nice wedge.

 

There is no way in a million years the council will stump up for the stadium if SFC doesn't exist, them buying it isn't overly popular anyway and that is with saving SFC in mind.

[Window Cleaner]

Even if the club was to wait until the transfer window opens as soon as other clubs get a wiff of us folding there is no way they will pay a fee, they will just tell the player to wait until we go under so they can get them for free - they get a player for nothing, the player gets higher wages and their agent gets a nice wedge.

 

There is no way in a million years the council will stump up for the stadium if SFC doesn't exist, them buying it isn't overly popular anyway and that is with saving SFC in mind.

 

We shall see.

[OldNick]

Chaning your mind now then alpine? Realised that administration is a complete disaster, as some of us were saying all long? :axe:

I also agreed on this but we cant afford it to be a disaster and as much id love to scream in those peoples faces 'see i told you so' I cannot afford and dearly do not want to be right.

To be fair I think Alps has shown in his posts that it has not been as easy as perhaps he thought it would.

we may soon find out whether it turns out ok but as time goes on many know that we have no choice in the matter and yes RL has lost a lot of money that pleases some but ultimately well ALL will be losers in this debacle.

[Frank's cousin]

I also agreed on this but we cant afford it to be a disaster and as much id love to scream in those peoples faces 'see i told you so' I cannot afford and dearly do not want to be right.

To be fair I think Alps has shown in his posts that it has not been as easy as perhaps he thought it would.

we may soon find out whether it turns out ok but as time goes on many know that we have no choice in the matter and yes RL has lost a lot of money that pleases some but ultimately well ALL will be losers in this debacle.

 

Agreed, I know Alps and I had some online jousts about that, but being proven 'right' is the last thing anyone wants and as you say to be fair to Alps, he probably genuinely felt that the club could onluy move forward without Lowe and so any risk was worth it if it got rid. I still stand by my opinion that it was not, but it means nothing to me being right or wrong if the club does not find a buyer - sure we may 'survive' as a small ouutfit in some lower league or start again, but it would noty be SFC as we know it, the club I first began supporting as a 6 year old back in 75... with all the ups and downs and changes over the years, yet still the heart and soul of of 'our' club.

[View From The Top]

If SFC ceases to exist I'll get on with my life.

[alpine_saint]

Chaning your mind now then alpine? Realised that administration is a complete disaster, as some of us were saying all long? :axe:

 

Nope.

 

The real disaster was the managment of Rupert Lowe that made administration inevitable.

 

I said all along that going into administration was the only way to get rid of Lowe and have SOME hope; continuing under Lowe would have been a hopeless exercise with definitely the same result.

Edited 11 May, 2009 by alpine_saint

[dubai_phil]

At the moment things are bad.

 

But it can get worse in stages. The first problem is Fry doesn't get a bid or enough to pay off the creditors in the right manner that means that the Football Club Ltd ALSO has to go into admin - THAT could happen if we cannot afford the wages next week. The PFA step in and all that BUT it would then mean pretty much a nailed on certainty that we get a further 15 point penalty.

 

Starting next season on minus 25 would simply prolong our painful death. It would drop our sales value by even more and THEN make it harder to get the right amount of cash for the club to get out of admin at all... Then Liquidation starts

 

I think the next two or three days are critical, one mis-communication or misunderstanding in negotiations and we're gone

[lordswoodsaints]

 

It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference.

 

We are also two seasons away from the premier league.

[Killers Knee]

On the evidence that Marc Jackson has got past Mr Fry's receptionist, id say we're fooked.

[Mole]

Chaning your mind now then alpine? Realised that administration is a complete disaster, as some of us were saying all long? :axe:

 

In a few years time we'll look back at administration, the end of the fragmented PLC, and the removal of Lowe and Wilde, and we'll all say "it was the best thing that couldv'e happend to Saints". At present with the uncertainty and the 10 point deduction for next season it seems like the end of the world to some, but be patient as the green shoots of recovery are just around the corner.

[Guided Missile]

In a few years time we'll look back at administration, the end of the fragmented PLC, and the removal of Lowe and Wilde, and we'll all say "it was the best thing that couldv'e happend to Saints".

At the moment, all I can think of saying is "This is another fine mess you've got us into, Stanley..."

[derry]

The football club has £6m debts and no assets. It will not go into administration, points deductions are irrelevant as we would be wound up.

[aintforever]

On the evidence that Marc Jackson has got past Mr Fry's receptionist, id say we're fooked.

 

Think you might have a point there, it's not looking good if that dreamer has been given the time of day.

[OldNick]

In a few years time we'll look back at administration, the end of the fragmented PLC, and the removal of Lowe and Wilde, and we'll all say "it was the best thing that couldv'e happend to Saints". At present with the uncertainty and the 10 point deduction for next season it seems like the end of the world to some, but be patient as the green shoots of recovery are just around the corner.

You may believe so Stanley but ther best I expect is 3 years in L1 and then either up or down.Of course if we get a further points penalty change that to L2

[Ponty]

We're doomed.

 

Actually, we might be.

[Kingsbridge Saint]

What we're going through is scary and unpleasant but ultimately I think a better option than more barren years of following a club being ground into the dirt by Rupert Lowe. If we do go under at least it will be quick. I couldn't have suffered following the Saints too much more after the last 6 years anyway. Hopefully we'll come out into the light of a new era ready to compete again with players who care and leadership we can get behind. I used to support Newport County. **** happens - but you get over it.

[hughieslastminutegoal]

I was preparing for this situation to arise the minute that Askham and his cohorts accepted the reverse takeover instead of waiting 5 minutes longer to see what else might materialise.

 

Didn't you mean "..engineered the reverse take over..." ?

[Wes Tender]

Didn't you mean "..engineered the reverse take over..." ?

 

A fine distinction that I don't disagree with. Engineered either separately or jointly between both parties, but however it came about, it still went forward with unseemly haste IMO, when there were other interested parties hovering around. Interesting to speculate how our fortunes might have been changed had the old board waited to see what else was on offer. We might have been playing our football at Stoneham for starters, which would have been a much more attractive asset for investors as part of the proposed Sports based development that was being proposed for that site.