Jump to content

Solent update, offer £8m


NickG

Recommended Posts

With all due respect mate, I knew we were going to end up here when Lowe came back.

 

Him returning was like puring petrol on the financial flames..

 

No you are wrong you thought that we would go into Administration not that you knew I would have thought

 

I thought after Xmas we would probably go into Administration but I did not know

 

That is the point the poster was probably trying to make

Edited by John B
Link to comment
Share on other sites

How do you know we did not know we were going into Administration?

 

tee hee, well of course those under 250 posts are never given that golden key which will put them onto the club's secret intranet, they don't get to use all those web cams and hidden mikes that the shareholders put in during their battle with the execs:p

 

Now if only we knew the password, apparently worldclasscatering is too long

Link to comment
Share on other sites

Im not personally in the know but a member of my family spoke to MLT today and he confirmed his group are the preferred bid and hope it will be done by Friday. He gave the impression he would be a figurehead chairman. The group he is involved with was meeting with Fry all day today. MLT said we will have a team to watch next season, dont worry.

Link to comment
Share on other sites

With all due respect mate, I knew we were going to end up here when Lowe came back.

 

Him returning was like puring petrol on the financial flames..

 

"Puring" (?) petrol? Surley that was Wilde? Lowe is hardly a spendthrift is he? Isn't that what people have complained about for years? That he doesn't like to spend money? Isn't that what we needed since the parachute payment went? Someone keeping a tight rein on the purse strings.

 

Of course you knew this would happen Alpine, because you always expect the worst. You are like a roulette player who always plays "black". Sh*t happens. And guess what, you heard it hear first but we are all going to die. See, not so hard to be right about sh*t is it?

Link to comment
Share on other sites

"Puring" (?) petrol? Surley that was Wilde? Lowe is hardly a spendthrift is he? Isn't that what people have complained about for years? That he doesn't like to spend money? Isn't that what we needed since the parachute payment went? Someone keeping a tight rein on the purse strings.

 

Of course you knew this would happen Alpine, because you always expect the worst. You are like a roulette player who always plays "black". Sh*t happens. And guess what, you heard it hear first but we are all going to die. See, not so hard to be right about sh*t is it?

 

Unfortunately i agree with this assessment, as much as i blame Lowe (mostly) for our downfall, he was never one to overspend and was always far too cautious with his money.

 

He did however ensure with his crazy managerial appointments and continually revolving door (like football's equivalent of the apprentice) have pushed us further and further down the league.

 

Would we still have been in administration if Lowe never left ? Maybe ? He would not have overspent like the other people messiah (crouch, who i believe has his parts of blame) however we would never have survived last season if he had been there. IMO

Link to comment
Share on other sites

Unfortunately i agree with this assessment, as much as i blame Lowe (mostly) for our downfall, he was never one to overspend and was always far too cautious with his money.

 

He did however ensure with his crazy managerial appointments and continually revolving door (like football's equivalent of the apprentice) have pushed us further and further down the league.

 

Would we still have been in administration if Lowe never left ? Maybe ? He would not have overspent like the other people messiah (crouch, who i believe has his parts of blame) however we would never have survived last season if he had been there. IMO

 

Delgado and Woodward :grin:

Link to comment
Share on other sites

Im not personally in the know but a member of my family spoke to MLT today and he confirmed his group are the preferred bid and hope it will be done by Friday. He gave the impression he would be a figurehead chairman. The group he is involved with was meeting with Fry all day today. MLT said we will have a team to watch next season, dont worry.

 

Cheers for the info WS. I'm sure, short of a mega billionaire with a fixation on buying world class players taking us over, this will be for the best.

Link to comment
Share on other sites

Sounds positive WS, but then it has done before! Hoping that you mean this Friday (15th May 2009), and that you are right.

 

If true, presumably there are managerial short-lists already being worked on, a quick managerial appointment is a must, 'football people' must be involved rather than yes men and people who understand the requirements of the division (sounds obvious but not going by the last few years).

Link to comment
Share on other sites

Im not personally in the know but a member of my family spoke to MLT today and he confirmed his group are the preferred bid and hope it will be done by FRIDAY. He gave the impression he would be a figurehead chairman. The group he is involved with was meeting with Fry all day today. MLT said we will have a team to watch next season, dont worry.

 

please not ANOTHER FRIDAY ;-)

Link to comment
Share on other sites

Quote:

Originally Posted by SaintRichmond

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

 

Me too. Unusually in total agreement with John B.

 

The Skates success could so easily have been us if we had some f*cker actually with ambition and hunger for sporting success, rather than personal nest feathering t*sser! Too many have used our club as a business playground. We had ample opportunity, much longer than the Skates. Instead, we just chose to 'survive'. WOOOOO!!!! Inspirational.

 

This is why we need new owners who are FOOTBALL FANS. It's soooo long overdue.

Link to comment
Share on other sites

I am beginning to get very disillusioned by all this. I am getting whispers from several places tonight and it is not all good. However it is still subject to verification.

 

We have a bid on the table with proven funds which does not appear to meet with the Administrators approval or at least he is not talking or making a decision.

 

We have another group who have been in talks (allegedly today) but as no announcement I assume they have yet to put in a written bid...perhaps tomorrow.

 

The only chink of light is Wild-Saints post following a reported chat by a family member with LeTissier, but why no announcement if it is correct.

 

Time is running out. I hope Mr Fry does not mess this all up. I hope the other interested party does not mess this all up by not putting in an indicative bid. I hope the present bidder does not mess this all up by withdrawing the tabled indicative bid because of delays and lack of communication.

 

The fat lady is not yet singing but the death knell is preparing to sound.

 

Mostly (with few confirmed facts) in my opinion of course.

Link to comment
Share on other sites

I am beginning to get very disillusioned by all this. I am getting whispers from several places tonight and it is not all good. However it is still subject to verification.

 

We have a bid on the table with proven funds which does not appear to meet with the Administrators approval or at least he is not talking or making a decision.

 

We have another group who have been in talks (allegedly today) but as no announcement I assume they have yet to put in a written bid...perhaps tomorrow.

 

The only chink of light is Wild-Saints post following a reported chat by a family member with LeTissier, but why no announcement if it is correct.

 

Time is running out. I hope Mr Fry does not mess this all up. I hope the other interested party does not mess this all up by not putting in an indicative bid. I hope the present bidder does not mess this all up by withdrawing the tabled indicative bid because of delays and lack of communication.

 

The fat lady is not yet singing but the death knell is preparing to sound.

 

Mostly (with few confirmed facts) in my opinion of course.

 

WS , are you aware of 1 one the bids not being involved with owning the ground , but renting it

Link to comment
Share on other sites

I am beginning to get very disillusioned by all this. I am getting whispers from several places tonight and it is not all good. However it is still subject to verification.

 

We have a bid on the table with proven funds which does not appear to meet with the Administrators approval or at least he is not talking or making a decision.

 

We have another group who have been in talks (allegedly today) but as no announcement I assume they have yet to put in a written bid...perhaps tomorrow.

 

The only chink of light is Wild-Saints post following a reported chat by a family member with LeTissier, but why no announcement if it is correct.

 

Time is running out. I hope Mr Fry does not mess this all up. I hope the other interested party does not mess this all up by not putting in an indicative bid. I hope the present bidder does not mess this all up by withdrawing the tabled indicative bid because of delays and lack of communication.

 

The fat lady is not yet singing but the death knell is preparing to sound.

 

Mostly (with few confirmed facts) in my opinion of course.

 

I said that and was laughed at.

Link to comment
Share on other sites

To me, the key to all this is the "Character" of the Person(s) who take us over

 

If he/they are "Football " men, then, long term, Saints fortunes will slowly approve

 

If it is not Football men, then sadly, Football itself will take second place at best .......like it has done for the last 12 or so years

 

We NEED a Mandaric or Madjeski .... people who put FOOTBALL First

 

To believe that people get control of football clubs because they are "football men" is a bit short sighted. The two you mentioned are first and foremost businessmen. That you consider them to be real "football men" just shows they are very good at running their business.

Link to comment
Share on other sites

I don't really think it's about Mr Fry or bidders "messing up", it's about whether there is a deal that's acceptable to the creditors or not.

 

Sadly, it's only Southampton FC / SLH that has messed up over recent years.

Link to comment
Share on other sites

I am beginning to get very disillusioned by all this. I am getting whispers from several places tonight and it is not all good. However it is still subject to verification.

 

We have a bid on the table with proven funds which does not appear to meet with the Administrators approval or at least he is not talking or making a decision.

 

We have another group who have been in talks (allegedly today) but as no announcement I assume they have yet to put in a written bid...perhaps tomorrow.

 

The only chink of light is Wild-Saints post following a reported chat by a family member with LeTissier, but why no announcement if it is correct.

 

Time is running out. I hope Mr Fry does not mess this all up. I hope the other interested party does not mess this all up by not putting in an indicative bid. I hope the present bidder does not mess this all up by withdrawing the tabled indicative bid because of delays and lack of communication.

 

The fat lady is not yet singing but the death knell is preparing to sound.

 

Mostly (with few confirmed facts) in my opinion of course.

 

I respect your updates, but what are we supposed to make of this latest post? Is this your opinion or based on what? It just worries me and I don't know why, I have no idea who you are or why I should take any notice of you - after all this is supposed to be a fans forum.......not the Financial Times.....!

Link to comment
Share on other sites

I don't really think it's about Mr Fry or bidders "messing up", it's about whether there is a deal that's acceptable to the creditors or not.

Sadly, it's only Southampton FC / SLH that has messed up over recent years.

 

Which is where the stumbling block is , I'm sure one of them is that the stadium is a seperate offer and the football club is another ....and all parties cannot agree on the details or meet the requirements of the creditors

Link to comment
Share on other sites

Yes but Mr Fry must realise that people who have put a bid on the table days ago will not

wait for too long before they say "stuff it" then and walk away. Mr Fry should of all people

realise what a perilous state the worlds economy is in and that it most certainly is a buyers

market, if he pushes too much he cannot be surprised if it falls through.

All IMHO of course.

Link to comment
Share on other sites

I respect your updates, but what are we supposed to make of this latest post? Is this your opinion or based on what? It just worries me and I don't know why, I have no idea who you are or why I should take any notice of you - after all this is supposed to be a fans forum.......not the Financial Times.....!
I have no agenda MM but can understand your suspicion. I am a supporter who just has a few contacts, friends and enough experience to form a reasoned and balanced opinion. You are right, it is a fans forum. My posting history is available to you. It is up to every poster as to what they make of it. I do not hold myself up as anything more than the average fan.
Link to comment
Share on other sites

This just feels like we are going to just fizzle out into obscurity in the same half ar$ed ****eyed way this club has been run with just a couple of shining moments St Mary's and the Strachan time................. Ah well C'est la vie: there's always Glossop North End who I was supporting in the F A Vase on Sunday.

Link to comment
Share on other sites

No I do not, is the simple answer

 

Hi Ron - I share your gloomy outlook unfortunately. I find it hard to believe any serious party would leave it this late in the day to make a move. When it goes this late in my experience its pretty much game over barring a miracle. I wonder whether there is enough time left to seriously expect Fry to tie up a deal before there's no cash-flow whatsoever.

Link to comment
Share on other sites

Yes but Mr Fry must realise that people who have put a bid on the table days ago will not

wait for too long before they say "stuff it" then and walk away. Mr Fry should of all people

realise what a perilous state the worlds economy is in and that it most certainly is a buyers

market, if he pushes too much he cannot be surprised if it falls through.

All IMHO of course.

True, that is my worry but never under estimate Mr Fry and his office. He is an experienced man used to just this situation. He would not be in that position if he was anything other than successful. Let's hope he can get a positive outcome to the creditors and supporters satisfaction.
Link to comment
Share on other sites

Hi Ron - I share your gloomy outlook unfortunately. I find it hard to believe any serious party would leave it this late in the day to make a move. When it goes this late in my experience its pretty much game over barring a miracle. I wonder whether there is enough time left to seriously expect Fry to tie up a deal before there's no cash-flow whatsoever.

 

I have had a contact from someone since I posted earlier this evening who has not told me anything but seemed a little more upbeat than my post.

 

Let's see what tomorrow brings.

Link to comment
Share on other sites

I wasn't going to post this as there is enough gloom and despondency on here at the moment but ....... I know of someone who was involved with the administration of Gretna FC up here in Scotland and he told me a few days ago that he see's a lot of similarities between Saints Administration and Gretna's in as much as Gretna went on for a good few weeks with promises and false hopes of investment and in the end nothing happened in time and now Gretna are no more. He said in his opinion there is always a limited Time window and he thought we must be getting pretty close to the plug being pulled.

 

Sorry for being so negative but it is becomeing very worrying.

Link to comment
Share on other sites

Like most of you I have found this whole takeover business horrendous, and I just want it sorted. I only hope that is being played out is a game of brinkmanship, and Mr Fry is waiting until the last possible moment for an improved bid, before he accepts what’s on the table (I can't blame him for that, its his job).

 

I do however hope (and somewhat naively believe) that we will find new owners, who even if they can't afford to pump large sums into the club, can create some stability to our club. I hope the fact that Mr Fry has not come out in the press and stated that talks have broken down irretrievably, means that both sides are still willing to negotiate. If the difference between offer and asking price is 1m, I am sure both parties can come to some agreement and split the difference somewhere in-between. I cannot see Mr Fry going back to the major creditors with no deal, and then spending a small fortune in splitting a club up and having a huge fire sale, for the sake of 1m. If the club goes under, players can leave under freedom of contract (no revenue to creditors). The ground, staplewood, and Jacksons Farm may all have limited development value, but only to be land banked for future use.

 

I suspect we will be all right, I just think it will go down to the wire.

Link to comment
Share on other sites

I can see alot of panic on the forum which I understand, I was feeling the same. However tonight I have spoken to a couple of people which give me great hope.

I know we have heard it all before but I am excited by news tonight.

Pinnacle fronted bid should be announced as prefered bidders tomorrow afternoon. Will supply initial funds to keep club afloat until next stage dd is completed. Deal to be completed in due course.

After all we have been through it is easy to be sceptical of any bids, remember pinnacle is only the vehicle. I'm sure that if this deal is completed we will at last have what we have lacked for over 10 years & dream of- a united club & real hope for the future.

Link to comment
Share on other sites

I can see alot of panic on the forum which I understand, I was feeling the same. However tonight I have spoken to a couple of people which give me great hope.

I know we have heard it all before but I am excited by news tonight.

Pinnacle fronted bid should be announced as prefered bidders tomorrow afternoon. Will supply initial funds to keep club afloat until next stage dd is completed. Deal to be completed in due course.

After all we have been through it is easy to be sceptical of any bids, remember pinnacle is only the vehicle. I'm sure that if this deal is completed we will at last have what we have lacked for over 10 years & dream of- a united club & real hope for the future.

If that is true, I can go to bed with a smile on my face (usually takes something a bit different!). I need to be able to be productive at work again, I haven't been able to stop looking at this stupid forum for the past month. My boss asked me yesterday if everything was ok at home! I can hardly say may biggest worldy concern at the moment is the tate of my beloved football club.

Link to comment
Share on other sites

If that is true, I can go to bed with a smile on my face (usually takes something a bit different!). I need to be able to be productive at work again, I haven't been able to stop looking at this stupid forum for the past month. My boss asked me yesterday if everything was ok at home! I can hardly say may biggest worldy concern at the moment is the tate of my beloved football club.

 

Sounds familiar just don't tell the boss! I sit somewhere between sad & passionate I think!

Link to comment
Share on other sites

Presumably either the council (good, but I'd be surprised they could to be so definite without more public political discussion) or a property chancer (bad) offering to buy stadium and lease to club if any consortium wants to play things that way ...presumably because they are struggling to afford the whole thing.

 

K.

 

Hmm - if the latter, what's to stop them knocking down the stadium if they feel like building trendy waterfront (well almost, you could see it if the sand works weren't there) flats come the next inevitable property speculation boom in 5-10 years time.

 

Or at least, raising the Ground rent (accidental pun) whenever they felt like it. Sounds a bit like what happened at Chester City (?) not so long ago. You'd want a cast-iron, unbreakable to the sacrifice of the landlord's gonads type contract on the rent, or they end up with some kind of flat rate plus a percentage of the gate each game.

 

Actually this is what Stockport County currently have - Sale Sharks (Sale is about 10 miles away down the M60) own Edgeley Park, which County lease back for a fixed fee plus a percentage of the gate. It's not done County much good by the look of it, as they're really struggling to move, sounds possibly as grim as us. Sacked the manager Jim Gannon (who took them up through the playoffs last season, and achieved mid-table respectability (barring the 10 points lost through Admin) - in fact they only slipped back from playoff contention in the last month or two as things got financially grim and they had to release loaned players back to their home clubs.

 

Alongside my current fairly serious worry that Saints may go totally bust, is a much lesser but still very personal worry that Saints will survive, but Stockport don't, and I lose my first chance of a "home" game I could realistically walk to (about 25 minutes without rushing).

Link to comment
Share on other sites

The offer of 8M was originally 12M if we stayed up.

 

Hopefully 1M will go toward an appeal to get rid of the -10 points.

 

£1m for a sh1t-hot bunch of lawyers/PR to mount a campaign all the way up to the European court of Sport Arbitration (or whatever it's called). Teaching a course this week with a Rotherham fan who thought we've been disgracefully treated, and there was I thinking all the other penalised clubs (Luton, AFCB, et al) thought we were taking the **** with our loophole attempt.

Link to comment
Share on other sites

True, that is my worry but never under estimate Mr Fry and his office. He is an experienced man used to just this situation. He would not be in that position if he was anything other than successful. Let's hope he can get a positive outcome to the creditors and supporters satisfaction.

 

WS - I think the key is not to underestimate Mr Fry. He is experienced in this and, as someone else mentioned, it is a game of brinksmanship in which he will be well versed.

 

He will know how to get the best deal for the creditors and that will involve squeezing a bidder as far as he can but not so far as to make them walk away.

 

I think it was always going to be like this from the moment he walked in the door. We all hoped for a speedy resolution but that was never going to happen.

 

I will really worry when Fry starts threatening, publicly, to shut it all down in the next 24 hours if a deal isn't done.

Link to comment
Share on other sites

I can see alot of panic on the forum which I understand, I was feeling the same. However tonight I have spoken to a couple of people which give me great hope.

I know we have heard it all before but I am excited by news tonight.

Pinnacle fronted bid should be announced as prefered bidders tomorrow afternoon. Will supply initial funds to keep club afloat until next stage dd is completed. Deal to be completed in due course.

After all we have been through it is easy to be sceptical of any bids, remember pinnacle is only the vehicle. I'm sure that if this deal is completed we will at last have what we have lacked for over 10 years & dream of- a united club & real hope for the future.

 

given the timing of your post, has tomorrow afternoon past or Friday pm?

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...