Window Cleaner Posted 13 May, 2009 Posted 13 May, 2009 at least 2 threads and a couple of hundred posts, anyone want to precis it into about 5 or 6 well written, factual (well as far as factual is taken to mean on this forum) lines for me, I've had a particularly trying morning today.
John B Posted 13 May, 2009 Posted 13 May, 2009 (edited) Nothing interesting apart from the original post Which should say Radio Solent understands so no confirmation Some paranoia that a company will buy St Marys knock down it and turn it into a brothel super market or something plus http://www.dailyecho.co.uk/sport/saints/news/4364179.Talks_held_up_again_in_twist_in_takeover/ Edited 13 May, 2009 by John B
HeShootsHeScores Posted 13 May, 2009 Posted 13 May, 2009 Ok, here goes: 1. Nothing concrete confirmed by the administrator 2. Couple of news sources trying to fill up couple of minutes of news time with a speculative story 3. Endless pages of unfounded panick and drivel on here Think that about sums it up
kpturner Posted 13 May, 2009 Posted 13 May, 2009 3. Endless pages of unfounded panickDon't forget the panic too....
dubai_phil Posted 13 May, 2009 Posted 13 May, 2009 The report on Solent was prefixed by "the BBC understands" no facts until Fry opens his mouth in a public place with witnesses Thanks Mike that makes a big difference. Fry could have been in the sh1t if it had been HIM that said it to them as a direct and attributable quote. We can put the tin hats away for a while then
DT Posted 13 May, 2009 Posted 13 May, 2009 I've lost count of the number of 48 hours that have passed since the first time I read that something would happen in the next 48 hours. I suggest Mark Fry invest in a new watch.
ladysaint Posted 13 May, 2009 Posted 13 May, 2009 Nothing interesting apart from the original post Some paranoia that a company will buy St Marys knock down it and turn it into a brothel super market or something At least someone will get to score.
LestWeForget Posted 13 May, 2009 Posted 13 May, 2009 Nothing interesting apart from the original post Some paranoia that a company will buy St Marys knock down it and turn it into a brothel super market or something At least someone will get to score. Probably the visiting team
SaintRichmond Posted 13 May, 2009 Posted 13 May, 2009 Somebody told me £20 m OK, but when he left Pompey, they were still in the Prem, and still are ....... ... He did provide MONEY for QUALITY players to keep them there ....... Saints have NEVER had anyone remotely interested in Football leading us
St Mikie Posted 13 May, 2009 Posted 13 May, 2009 I just find the whole scenario alarming, in that we are struggling to save our club based around sums of money in the region of 8 million. Where as at the top end of the leagues, there are reports that Ronaldo could be sold to Real Madrid for around 70 million. The differences within the English football league are obscene!
solentstars Posted 13 May, 2009 Posted 13 May, 2009 at least 2 threads and a couple of hundred posts, anyone want to precis it into about 5 or 6 well written, factual (well as far as factual is taken to mean on this forum) lines for me, I've had a particularly trying morning today. yep its getting hard to read these threads with some posts being the same old tired brain dead comments recycled by the usual suspects on every thread they post on. i hope the club survives and just praying for someone to take over this club and would rather wait for the right people, then rush into anything quckly which we may regret later.
John B Posted 13 May, 2009 Posted 13 May, 2009 OK, but when he left Pompey, they were still in the Prem, and still are ....... ... He did provide MONEY for QUALITY players to keep them there ....... Saints have NEVER had anyone remotely interested in Football leading us Yes I totally agree
derry Posted 13 May, 2009 Posted 13 May, 2009 Irrespective of all the other aspects the stadium land is subject to a restrictive covenant which lays down it's permitted use. The company in administration is SLH Ltd which owns a number of companies which own assets or in the case of SFC Ltd the £6m approx debt. SFC Ltd owns the players registrations and potential value but that means nothing if the players aren't paid as they would become free agents. The football club debts will have to be agreed by the creditors or the club would be wound up. That would leave the house of cards collapsed with only an asset sale left and no football club. I would think a large part of the bid is to cover the debts to allow everything to continue.
SFC Forever Posted 13 May, 2009 Posted 13 May, 2009 I wait with bated breath for some news that will cheer us up. The stadium will not be allowed to go as the council will rightly turn down any offers or requests for the site to be used for anything else.Apart from which the ground being contaminated could not have many options available anyway. IMO of course.
Whitey Grandad Posted 13 May, 2009 Posted 13 May, 2009 Irrespective of all the other aspects the stadium land is subject to a restrictive covenant which lays down it's permitted use. The company in administration is SLH Ltd which owns a number of companies which own assets or in the case of SFC Ltd the £6m approx debt. SFC Ltd owns the players registrations and potential value but that means nothing if the players aren't paid as they would become free agents. The football club debts will have to be agreed by the creditors or the club would be wound up. That would leave the house of cards collapsed with only an asset sale left and no football club. I would think a large part of the bid is to cover the debts to allow everything to continue. Thanks Derry. In your opinion, would that mean that the club would never have been itself in administration and would not have benefited from the administration of the PLC, and hence no sanction?
TNT Posted 13 May, 2009 Posted 13 May, 2009 OK on reflection. Fry has just told everybody how much one group have bid. Somehow that cannot be right when there are NDA's in place everywhere, did he actually have permission from whoever made that bid to announce it? Has he spoken to anyone apart from the group he met yesterday before doing this? Seems odd to suddenly start making these noises in the media. Hope he doesn't upset anyone. Not Frys words used, it was 'sources' close to SMS etc etc
St Marco Posted 13 May, 2009 Posted 13 May, 2009 There are other shareholders beside Lowe and Wilde who will lose money That is the gamble of buying shares really. It is like betting, if the investment does well you get the rewards. But if it does bad you lose. Normally what happens is the company gets sold to the buyer as a whole thing. All those who had shares lose out. So if this is true and does indeed happen then someone will get a club for £8m. They will be the sole owner (or owners if its a consortium). However the question then is what about the other £20m of debt. In a lot of cases the new owners take on a large amount of that debt and plan to pay it back over a period of time. Or the debt was settled with one payment, which could be the £8m. There are a lot of variations but i would hazzard a business guess that the new owners will be paying £8m to decrease the debt by nearly 30% the take on maybe another 30% of the debt (£8m) which will be paid back. I don't think anyone would want to buy the club and take on all its debts. You could get other clubs higher up the leagues for less the £30m. So the banks know they wont recoup all the money owed but they would try and get as much as possible. Fry i think must have a lot of pressure on his shoulders for sure.
NickG Posted 13 May, 2009 Author Posted 13 May, 2009 not mentioned on 12.00 news on solent - only confirming rugby venue
derry Posted 13 May, 2009 Posted 13 May, 2009 Thanks Derry. In your opinion, would that mean that the club would never have been itself in administration and would not have benefited from the administration of the PLC, and hence no sanction? I personally think the whole administration is based on the club staying out of administration and the creditors allowing this to happen, so that in the event of a sale they will get a major part of their debt paid. The stadium is very much an asset if is sold at the assumed reduced price circa £7m. With it's planning permission for 4 concerts, it's corporate facilities plus the city council's use of facilities gives an income probably exceeding comfortably £1.5m which would show a good profit after any mortgage etc was paid without any income from football. It is a no brainer to buy the stadium from Aviva.
OldNick Posted 13 May, 2009 Posted 13 May, 2009 I've lost count of the number of 48 hours that have passed since the first time I read that something would happen in the next 48 hours. I suggest Mark Fry invest in a new watch.good one DT
SaintRichmond Posted 13 May, 2009 Posted 13 May, 2009 Irrespective of all the other aspects the stadium land is subject to a restrictive covenant which lays down it's permitted use. The company in administration is SLH Ltd which owns a number of companies which own assets or in the case of SFC Ltd the £6m approx debt. SFC Ltd owns the players registrations and potential value but that means nothing if the players aren't paid as they would become free agents. The football club debts will have to be agreed by the creditors or the club would be wound up. That would leave the house of cards collapsed with only an asset sale left and no football club. I would think a large part of the bid is to cover the debts to allow everything to continue. Are Wilde and Lowe classed as Creditors ??? If so, could they Veto any deal ???
rallyboy Posted 13 May, 2009 Posted 13 May, 2009 I was getting genuine sympathy from a Man Utd fan for our plight and I pointed out to him that we are going under with approx 1/25th of their current debt. It is as mad as a box of frogs out there at the moment, more clubs will go to the wall. One day we may even be seen as trend-setters, an example of how to phoenix.... as long as Fry pulls his finger out.
OldNick Posted 13 May, 2009 Posted 13 May, 2009 It is as mad as a box of frogs out there at the moment, more clubs will go to the wall. One day we may even be seen as trend-setters, an example of how to phoenix.... . See RL always thought he had a revolutionary set up
bridge too far Posted 13 May, 2009 Posted 13 May, 2009 Are Wilde and Lowe classed as Creditors ??? If so, could they Veto any deal ??? Surely they're just shareholders and therefore not entitled to any say in any deal?
derry Posted 13 May, 2009 Posted 13 May, 2009 Are Wilde and Lowe classed as Creditors ??? If so, could they Veto any deal ??? I doubt they are owed much if anything, it's the football club we are talking about not SLH Ltd.
SFKA South Woodford Posted 13 May, 2009 Posted 13 May, 2009 I doubt they are owed much if anything, it's the football club we are talking about not SLH Ltd. Surely this is the relevant point here? If the offer of £8 million is for the football club and not SLH, then it is a good offer. Didn't Fry originally say that the clubs assets were worth around the £700,000 mark? If so, the 8 or 9 million figure would more than likely cover both the club and an offer to purchase St Marys. Alternatively, if no one matches Aviva's valuation of St Marys as a cash asset, wouldn't they just cancel their attempts to off load it and let whoever took over the club, carry on with the mortgage payments? It's been reported that the mortgage payments are not in arrears, so the new owners should be able to service the payments from revenue. As I have posted before, I remember Rupert addressing a meeting of London Saints shortly before the club moved into St Marys, where he said that the club could continue to service the mortgage on gates of around 15,000. It is paramount that the club, has ownership of St Marys, for the extra revenue that the stadium can generate, so fingers crossed ladies and gentlemen.
itchen Posted 13 May, 2009 Posted 13 May, 2009 Are Wilde and Lowe classed as Creditors ??? If so, could they Veto any deal ??? No and, therefore, no.
Guided Missile Posted 13 May, 2009 Posted 13 May, 2009 I am hearing this maybe linked to JacksonIs the £8M offer inclusive of the Monkeychicken petting zoo??
bridge too far Posted 13 May, 2009 Posted 13 May, 2009 I am hearing this maybe linked to Jackson I want to cry
lenwilkins Posted 13 May, 2009 Posted 13 May, 2009 I am hearing this maybe linked to Jackson Oh well - that's the end of that then.
Window Cleaner Posted 13 May, 2009 Posted 13 May, 2009 Nothing interesting apart from the original post Some paranoia that a company will buy St Marys knock down it and turn it into a brothel super market or something At least someone will get to score. Probably for eunuchs only.
Wade Garrett Posted 13 May, 2009 Posted 13 May, 2009 I am hearing this maybe linked to Jackson Why does anyone still take this to55er seriously?
Ponty Posted 13 May, 2009 Posted 13 May, 2009 Why does anyone still take this to55er seriously? It's looking increasingly like we might have to... gawd 'elp us.
SaintRichmond Posted 13 May, 2009 Posted 13 May, 2009 It's looking increasingly like we might have to... gawd 'elp us. Is this the bid that MLT said had mega money ???
Toadhall Saint Posted 13 May, 2009 Posted 13 May, 2009 It's looking increasingly like we might have to... gawd 'elp us. Oh ******
SFKA South Woodford Posted 13 May, 2009 Posted 13 May, 2009 Isn't krap nottarf situated on the Island of Dr Moreau? Surely he'd only need to go to Paulsgrove to pick up any number of freaky exhibits for his zoo! Move along Mr wacko jacko, Poopey is your neverland! Please don't try to mate Westwood with anything though, the outcome would doom all humankind.
PokingFun Posted 13 May, 2009 Posted 13 May, 2009 Shares are worth nothing. Barclays won't get their £4M back, they will have to settle for a percentage. Ideally someone will make Aviva an offer to write off the stadium debt for a much lower figure (as they did with Ipswich), however I'd have thought they'd probably want getting on for £10M themselves, which would tend to indicate that this deal sees the mortgage continue. Apparently Aviva took £7m toward a stadium debt of £35m for Ipswich. Suggests a figure of 20-30% is not unreasonable...
Wade Garrett Posted 13 May, 2009 Posted 13 May, 2009 It's looking increasingly like we might have to... gawd 'elp us. Not a chance. He couldn't even buy Bournemouth for £1.25.
OldNick Posted 13 May, 2009 Posted 13 May, 2009 Not a chance. He couldn't even buy Bournemouth for £1.25. but my understanding is Mj has only introduced the buyer and not part isn any of the documentation. It is easy to scoff but how many on here have introduced any buyers????
Wade Garrett Posted 13 May, 2009 Posted 13 May, 2009 but my understanding is Mj has only introduced the buyer and not part isn any of the documentation. It is easy to scoff but how many on here have introduced any buyers???? Did he not introduce Trican as well? Are we going to be renamed Saints FC UK? He is a chancer on the make. I'll judge him by his track record. It doesn't exactly inspire confidence.
Window Cleaner Posted 13 May, 2009 Posted 13 May, 2009 but my understanding is Mj has only introduced the buyer and not part isn any of the documentation. It is easy to scoff but how many on here have introduced any buyers???? Careful Nick, MJ revisionism is considered a serious offence by many.
Mark Mywords Posted 13 May, 2009 Posted 13 May, 2009 Surely this is the relevant point here? If the offer of £8 million is for the football club and not SLH, then it is a good offer. Didn't Fry originally say that the clubs assets were worth around the £700,000 mark? If so, the 8 or 9 million figure would more than likely cover both the club and an offer to purchase St Marys. Alternatively, if no one matches Aviva's valuation of St Marys as a cash asset, wouldn't they just cancel their attempts to off load it and let whoever took over the club, carry on with the mortgage payments? It's been reported that the mortgage payments are not in arrears, so the new owners should be able to service the payments from revenue. As I have posted before, I remember Rupert addressing a meeting of London Saints shortly before the club moved into St Marys, where he said that the club could continue to service the mortgage on gates of around 15,000. It is paramount that the club, has ownership of St Marys, for the extra revenue that the stadium can generate, so fingers crossed ladies and gentlemen. But, we were in the Premiership then!
SaintRichmond Posted 13 May, 2009 Posted 13 May, 2009 Not a chance. He couldn't even buy Bournemouth for £1.25. I didn't know Bournemouth had gone up to £1.25 ... ???
saintbletch Posted 13 May, 2009 Posted 13 May, 2009 But, we were in the Premiership then! Very true, but as I understand it the repayment on the stadium is made annually immediately following the receipt of the next season's season ticket revenue. So technically Rupert's projection is *probably* still true but we'd only have about £8.50 to spend on the rest of the team/company.
OldNick Posted 13 May, 2009 Posted 13 May, 2009 Did he not introduce Trican as well? Are we going to be renamed Saints FC UK? He is a chancer on the make. I'll judge him by his track record. It doesn't exactly inspire confidence.If he indeed does let us down again then he deserves all he gets. I have only met him once for about 5-10minutes and found him very affable.The 2 people I also know who are very much behind him/with him I would expect to be quite good at assessing him/his people. Now they also could have been duped but they are a bit long in the tooth to be easily fooled. iam of the mindset that we have little choice if we wish to have a club in a few weeks time. Pinnacle have come to the battle waving the banners and flag and have a very fine figureheadand so i understand the siding with them, but have they delivered either? If you are dying of thirst yuo will drink your enemies p### to survive, lets hope it's sweet tasting.
Wade Garrett Posted 13 May, 2009 Posted 13 May, 2009 If he indeed does let us down again then he deserves all he gets. I have only met him once for about 5-10minutes and found him very affable.The 2 people I also know who are very much behind him/with him I would expect to be quite good at assessing him/his people. Now they also could have been duped but they are a bit long in the tooth to be easily fooled. iam of the mindset that we have little choice if we wish to have a club in a few weeks time. Pinnacle have come to the battle waving the banners and flag and have a very fine figureheadand so i understand the siding with them, but have they delivered either? If you are dying of thirst yuo will drink your enemies p### to survive, lets hope it's sweet tasting. I'm not siding with anyone. I am just saying if Jackson has anything to do with a bid then it is unlikely to happen. If I'm thirsty I'll go to the fridge. I've never tasted anyone's p*ss and I don't really want to. I am a little worried about you nick.
broncoboy Posted 13 May, 2009 Posted 13 May, 2009 Ha! I can just see the Media headlines in the coming days after Fry has announced a deal "OVER DEMANDING AND WHINGING MESSAGE BOARD POSTERS UPSET SUCCESSFUL BIDDER RESULTING IN WITHDRAWAL OF BID" :axe::smt093 Is that you Rhonda?
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