Today's D-day, there will be

[SKATE_HATE]

If the MLT lot are named as preferred bidders today will we find out who is behind it or does that remain secret till conclusion?

[Gingeletiss]

They don't even have a manager at the moment.

 

Nor have we, but that hasn't stopped some mentally buying every player under the sun.....

[Ken Tone]

Many things just do not add up. One of which is the fact that MLT alluded to the fact that the "bidder" that he was supporting had "Loadsa Money"

 

Suddenly, when push comes to shove, they now apparently are having trouble proving their Funds

 

I think it Stinks, and that Jackson's Mob, including you know who, will get the nod

 

With all due repsect to Matt, what does he know about business? He was a talented footballer and obviously has Saints' best interests at heart, but I don't think he's ever shown much business acumen has he?

 

My understanding was that he offered to work with *any* group that was trying to keep the club afloat. I think we may be reading too much into this "MLT-backed" bit.

 

And in any event a backer might have loads of money, without much of it necessarily being free to spend. If he/she has money in property they will have great difficulty converting that property into cash in a short time, and of course may not be prepared to take the loss they'd need to accept to at the moment, selling assets quick and cheap.

 

Even someone I might consider filthy rich by my standards may have to think twice about quickly freeing up £10-12 million at the moment. Not a good time to be borrowing against property is it?

 

K.

[paris]

There's a big yacht in the harbour today.....

[hypochondriac]

Many things just do not add up. One of which is the fact that MLT alluded to the fact that the "bidder" that he was supporting had "Loadsa Money"

 

Suddenly, when push comes to shove, they now apparently are having trouble proving their Funds

 

I think it Stinks, and that Jackson's Mob, including you know who, will get the nod

 

Not really. If they have more funds but don't want to pay more than they absolutely have to for the club, it is in their interest to string this out as long as they can and then strike at the last minute when the administrator is getting desperate (or "sh*tting himself") to hopefully get the club for a lower price.

[hypochondriac]

Oh and the Stuart Green bid have said they will talk to MLT after their bid has been successful. So expect him to be on side should that bid get through.

[SaintRichmond]

Even if they do have 'loadsamoney' they would not neccessarily make a massive bid. Remember the lower the amount they can pay to secure the purchase of the club then the more they have to invest. There is bound to be brinkmanship on both sides.

 

 

Fair point, but I just got the feeling that Fry may have reached the impatient stage. By saying in effect "put up or shut up", tells me that he is confident that should they NOT put up, he HAS got a "Firmer" bid that he will gladly roll with.

 

Whether that other bid, ie Jacksons Patcwork Quilt, is the BEST offer, is something that I doubt very much

 

But Fry is there to do a deal ..... NOT necessarily to save a Football Club

[Saint Fan CaM]

Not really. If they have more funds but don't want to pay more than they absolutely have to for the club, it is in their interest to string this out as long as they can and then strike at the last minute when the administrator is getting desperate (or "sh*tting himself") to hopefully get the club for a lower price.

 

 

Fry doesn't strike me as a man that would sh*t himself frankly. He has the joker in his hands - MJ's group.

[wild-saint]

Many things just do not add up. One of which is the fact that MLT alluded to the fact that the "bidder" that he was supporting had "Loadsa Money"

 

Suddenly, when push comes to shove, they now apparently are having trouble proving their Funds

 

I think it Stinks, and that Jackson's Mob, including you know who, will get the nod

 

Have i missed something? Where has it been quoted that they have been having trouble proving thier funds?

 

Personally i think they are haggling over price and terms of the deal.

 

Simple analogy for me would be like me buying a house. its on the market for £350k and I can afford to pay it but will i? no chance, I haggle the hell out of the seller to get the best deal I can even if it means I say i cant afford the full asking price etc etc. At the end of the day there will be a compromise or the buyer will walk away saying its not worth the money.

I suggest they comparethemarket.com SIMPLES!!

[SaintRichmond]

Fry doesn't strike me as a man that would sh*t himself frankly. He has the joker in his hands - MJ's group.

 

 

JOKER being the opperative word

[SW11_Saint]

TGIF... (sort of).

[SaintRichmond]

Have i missed something? Where has it been quoted that they have been having trouble proving thier funds?

 

Personally i think they are haggling over price and terms of the deal.

 

Simple analogy for me would be like me buying a house. its on the market for £350k and I can afford to pay it but will i? no chance, I haggle the hell out of the seller to get the best deal I can even if it means I say i cant afford the full asking price etc etc. At the end of the day there will be a compromise or the buyer will walk away saying its not worth the money.

I suggest they comparethemarket.com SIMPLES!!

 

 

The "proving their funds" is the impression I got when, as I understood it, Fry has given a "put up or shut up" scenario ???

 

He can afford to do that because IMHO, unfortunately, he can roll with Jackson

[Professor]

Why do people keep saying that? Why just pay whats been asked if theres a chance of paying less?

 

You have to look on this as an auction - the winning bidder must expect to pay more than the others, but the bids will be complex, not just straight cash and the Liquidator needs be sure that the funds are real. It could be that Pinnacle is not strictly the 'leading contender' but just the most high profile and most popular with fans, partly due to the MLT link, which could be why they are being pressed to put up or shut up. If they can put up, so much the better, but if not to them, it does at least look likely that a sale will happen.

 

The concern continues to be whether the winning bidders, whoever they are, will have any funds left over for team building. If the creditors don't get all their money back they won't expect to see the buyers then able to go in for big spending. As others have pointed out, the liquidator must favour the creditors, which may not suit the fans beyond just seeing the club survive.

[Guest Dark Sotonic Mills]

You have to look on this as an auction - the winning bidder must expect to pay more than the others, but the bids will be complex, not just straight cash and the Liquidator needs be sure that the funds are real. It could be that Pinnacle is not strictly the 'leading contender' but just the most high profile and most popular with fans, partly due to the MLT link, which could be why they are being pressed to put up or shut up. If they can put up, so much the better, but if not to them, it does at least look likely that a sale will happen.

 

The concern continues to be whether the winning bidders, whoever they are, will have any funds left over for team building. If the creditors don't get all their money back they won't expect to see the buyers then able to go in for big spending. As others have pointed out, the liquidator must favour the creditors, which may not suit the fans beyond just seeing the club survive.

 

But Fry is an Administrator, whose function is to keep the business running, not satisfy creditors per se.

[OldNick]

Also, Ajax want Nathan Dyer plus other clubs have enquired about Davis, Lallana, McGoldrick and Surman.[end quote]

 

So what if the bids are not high enough for the creditors, could the adminsitrator hold on to the registrations of saleable players to sell them to add to the pot? If as it has been put on here about the clubs asset value that players do not have value(iknow it seems odd but that has been put up on here by people who understand accounting) in that a buyer i assume could not argue that they are a value taken out of the deal.

[trousers]

So what happens if Pinnacle (if it is them) don't do what Fry wants today?

Where does that leave us?

Up the creek?

 

[trousers]

Well it certainly wouldn`t be "Flash"! (Cue other detergent based replies!)

 

Will do. Back in a Jif

[John B]

Also, Ajax want Nathan Dyer plus other clubs have enquired about Davis, Lallana, McGoldrick and Surman.[end quote]

 

So what if the bids are not high enough for the creditors, could the adminsitrator hold on to the registrations of saleable players to sell them to add to the pot? If as it has been put on here about the clubs asset value that players do not have value(iknow it seems odd but that has been put up on here by people who understand accounting) in that a buyer i assume could not argue that they are a value taken out of the deal.

 

I cannot see how any player can be sold by the administrator whilst due dilligence is in operation.

 

As a bidder I would not be happy to find some players sold

[Guided Missile]

My gut feel is that Pinnacle, or anyone else, for that matter, will have to provide a deposit of, say, 5% of the offer price, for the privilege of having "preferred bid" status conferred upon them, together with proof of funds for the remainder of the bid.

This deposit would only be returnable should further due diligence uncover a material change in the club's circumstances to that which have already been presented, ie there's not much chance of getting the deposit back.

This would be a fair request from Fry and one which, IMHO, neither Lynam nor Jackson, would have any chance of meeting, because £500K in readies and proof of access to £10M in available funds, would be a major problem for a pair of dreamers like these. Still, we could be an hour away from the same-day transfer of the money, some eccentric millionaire has entrusted a potless Irishman from Locks Heath or a former bankrupt photocopier salesman, to spunk on his behalf...

Edited 15 May, 2009 by Guided Missile
Wrong Postcode

[VectisSaint]

Not yet, the Echo are being slow today for some reason.

Too busy monitoring this board to find out what's happening I would guess

[OldNick]

My gut feel is that Pinnacle, or anyone else, for that matter, will have to provide a deposit of, say, 5% of the offer price, for the privilege of having "preferred bid" status conferred upon them, together with proof of funds for the remainder of the bid.

This deposit would only be returnable should further due diligence uncover a material change in the club's circumstances to that which have already been presented, ie there's not much chance of getting the deposit back.

This would be a fair request from Fry and one which, IMHO, neither Lynam nor Jackson, would have any chance of meeting, because £500K in readies and proof of access to £10M in available funds, would be a major problem for a pair of dreamers like these. Still, we could be an hour away from the same-day transfer of the money, some eccentric millionaire has entrusted a potless Irishman from Park Gate or a former bankrupt photocopier salesman, to spunk on his behalf...

Say what you think GM dont hold back.

If MLT is being used by Pinnacle then shame on them.

[OldNick]

I cannot see how any player can be sold by the administrator whilst due dilligence is in operation.

 

As a bidder I would not be happy to find some players sold

but what if he says 'look your offer is not what we require, it will go forward if the creditors can have xyz kept back from it'

[kpturner]

Fry doesn't strike me as a man that would sh*t himself frankly.

Agreed. He also would have no compunction in liquidatng if the preferred bidder comes up short at the 11th hour, as he did last year with SilverJet Airways.

[John B]

but what if he says 'look your offer is not what we require, it will go forward if the creditors can have xyz kept back from it'

 

That is a different scenario then

[OldNick]

That is a different scenario then

Possible???

[Charlie Wayman]

As I say every Friday..

 

"Maybe next week, Jack?"

 

Call me a cynic or what. It ain't gonna happen, of course. Nothing good has been announced by this club for the past ten years now so don't expect change anytime soon.

 

I'm waiting with more excitement to see the expense claims of our two adorable Labour MP's

[kpturner]

My gut feel is that Pinnacle, or anyone else, for that matter, will have to provide a deposit of, say, 5% of the offer price, for the privilege of having "preferred bid" status conferred upon them, together with proof of funds for the remainder of the bid.

This deposit would only be returnable should further due diligence uncover a material change in the club's circumstances to that which have already been presented, ie there's not much chance of getting the deposit back.

This would be a fair request from Fry and one which, IMHO, neither Lynam nor Jackson, would have any chance of meeting, because £500K in readies and proof of access to £10M in available funds, would be a major problem for a pair of dreamers like these. Still, we could be an hour away from the same-day transfer of the money, some eccentric millionaire has entrusted a potless Irishman from Park Gate or a former bankrupt photocopier salesman, to spunk on his behalf...

Agree with most of this, but you have also assumed that Lynam and Jackson are the money men when clearly they are not. It wouldn't matter if they or their businesses haven't got a pot to ****** in - it is the people they represent that matter. The echo reckons that MJ/Green have already lodged the £500k readies to which you allude.

[saintjay77]

Not really. If they have more funds but don't want to pay more than they absolutely have to for the club, it is in their interest to string this out as long as they can and then strike at the last minute when the administrator is getting desperate (or "sh*tting himself") to hopefully get the club for a lower price.

 

Sounds to me like its being strung out and now Fry is trying to push for conclusion. Maybe he wont budge anymore and the threat to bin Pinacle is his way of getting what he wants? I doubt anyone knows how serious he is with this statement but it seems to me that there are not many people in the market to buy a football club so the ones that are interested probably have some reservations in that the whole thing could be a massive waste of money that they could do without.

 

What if they decide to not bow down to Fry's public outburst and back off? If they are supposedly the prefered bidder I would guess that they are a better option than the others so Fry could put us in a worse position?

[John B]

Possible???

 

Anything is possible .

 

 

One bidder maybe planning to sell say McGoldrick for £1m sometime in the future but would not be happy to find out he had already been sold thats all

[SaintRichmond]

Agree with most of this, but you have also assumed that Lynam and Jackson are the money men when clearly they are not. It wouldn't matter if they or their businesses haven't got a pot to ****** in - it is the people they represent that matter. The echo reckons that MJ/Green have already lodged the £500k readies to which you allude.

 

 

 

Who knows ??? perhaps the money required will come from the (alledged) missing £40M .... ?????

[Weston Saint]

My gut feel is that Pinnacle, or anyone else, for that matter, will have to provide a deposit of, say, 5% of the offer price, for the privilege of having "preferred bid" status conferred upon them, together with proof of funds for the remainder of the bid.

This deposit would only be returnable should further due diligence uncover a material change in the club's circumstances to that which have already been presented, ie there's not much chance of getting the deposit back.

This would be a fair request from Fry and one which, IMHO, neither Lynam nor Jackson, would have any chance of meeting, because £500K in readies and proof of access to £10M in available funds, would be a major problem for a pair of dreamers like these. Still, we could be an hour away from the same-day transfer of the money, some eccentric millionaire has entrusted a potless Irishman from Park Gate or a former bankrupt photocopier salesman, to spunk on his behalf...

My understanding is that both parties at the table would have no problem with the deposit requirements should that be good business practice and normal in these circumstances.

[eelpie]

Anything is possible .

 

 

One bidder maybe planning to sell say McGoldrick for £1m sometime in the future but would not be happy to find out he had already been sold thats all

 

As supposedly happened when Allen was alledgedly interested in Saints until Bale was sold.

[lancelot link]

My gut feel is that Pinnacle, or anyone else, for that matter, will have to provide a deposit of, say, 5% of the offer price, for the privilege of having "preferred bid" status conferred upon them, together with proof of funds for the remainder of the bid.

This deposit would only be returnable should further due diligence uncover a material change in the club's circumstances to that which have already been presented, ie there's not much chance of getting the deposit back.

This would be a fair request from Fry and one which, IMHO, neither Lynam nor Jackson, would have any chance of meeting, because £500K in readies and proof of access to £10M in available funds, would be a major problem for a pair of dreamers like these. Still, we could be an hour away from the same-day transfer of the money, some eccentric millionaire has entrusted a potless Irishman from Park Gate or a former bankrupt photocopier salesman, to spunk on his behalf...

 

GM - I'd be very very careful making accusations about people you don't know. I know people who know Lynam and I am telling you now that I will personally see that he reads what you have written about him. If as a result he gets sick of insulting comments from people like you then I hope you can sleep at night, because I for one just want a club next season

[Saint Billy]

My gut feel is that Pinnacle, or anyone else, for that matter, will have to provide a deposit of, say, 5% of the offer price, for the privilege of having "preferred bid" status conferred upon them, together with proof of funds for the remainder of the bid.

This deposit would only be returnable should further due diligence uncover a material change in the club's circumstances to that which have already been presented, ie there's not much chance of getting the deposit back.

This would be a fair request from Fry and one which, IMHO, neither Lynam nor Jackson, would have any chance of meeting, because £500K in readies and proof of access to £10M in available funds, would be a major problem for a pair of dreamers like these. Still, we could be an hour away from the same-day transfer of the money, some eccentric millionaire has entrusted a potless Irishman from Park Gate or a former bankrupt photocopier salesman, to spunk on his behalf...

 

Bloody hell GM, I was really enjoying my Crunchy Nut Clusters Milk Chocolate Curls until I read your post.

[Evil Monkey]

GM - I'd be very very careful making accusations about people you don't know. I know people who know Lynam and I am telling you now that I will personally see that he reads what you have written about him. If as a result he gets sick of insulting comments from people like you then I hope you can sleep at night, because I for one just want a club next season

 

If he cant take a little unfounded criticism on an internet message board, i'd suggest he needs to harden up a bit.

 

Also, if you really think he could pull the plug due to such comments...why would you want to ensure that he reads them???

[Guided Missile]

My understanding is that both parties at the table would have no problem with the deposit requirements should that be good business practice and normal in these circumstances.

Ron, unless you are their bank manager, you have no clue whether they "would have no problem" with the deposit, as you are relying on what you have been told by salesmen trained in bulls h!t. I pray I'm wrong, but I think we'll find that we have some kite fliers who are thrashing about trying to raise funds, to play their game of Monopoly. Writing a cheque for £500K really does concentrate the mind and the "moneymen" have rarely earned their money on the back of a couple of chancers who have failed to make money in business themselves. I think it will be a case of, "Do not pass Go, do not collect £200".

 

But, again, I hope I'm wrong...

[saintjay77]

GM - I'd be very very careful making accusations about people you don't know. I know people who know Lynam and I am telling you now that I will personally see that he reads what you have written about him. If as a result he gets sick of insulting comments from people like you then I hope you can sleep at night, because I for one just want a club next season

 

LOL here we go. You have gone and rattled his cage now.

 

To be fair GM doesnt have any faith in the people that are supposedly trying to bid or be part of bid for our club. Thats his opinion and he is as welcome to it as anyone else.

 

I dont have much faith in a bid that has Marc Jackson envolved and I doubt there will be many that will defend him.

 

I dont know Lynam so my lack of faith is purly down to recent history of our club seems to be going downhill and I dont have much faith things will change soon.

 

I have heard Stuart greens name mentioned a few more times but for the life of me I dont know if its been said in a good or bad light so again I have no reason to raise my hopes.

 

If any of these people are going to be put off by what us lot have to say on here then they are probably best advised to go and buy a knitting shop rather than a football club.

[Smirking_Saint]

Everyone calm down and let in all unfold, makes no sense this in talking about who has funds and who does not !! Nobody knows !!!

 

MJ/Green or MLT either way they are obviously representing someone else and if the job gets done so be it. We all want a club next year.

 

God i hope MB and the Echo are right, getting bloody tired of all this.

[Guided Missile]

GM - I'd be very very careful making accusations about people you don't know. I know people who know Lynam and I am telling you now that I will personally see that he reads what you have written about him. If as a result he gets sick of insulting comments from people like you then I hope you can sleep at night, because I for one just want a club next season

The companies that Lynam is a director of are, according to the accounts he has lodged at Companies House, potless. He is Irish and lives in Locks Heath. Can you highlight in bold which "accusation" your mate would find "insulting"?

Edited 15 May, 2009 by Guided Missile

[superstevesaints]

They will be formally announced new owners later on this afternoon.

[lancelot link]

The companies that Lynam is a director of are, according to the accounts he has lodged at Companies House, potless. He is Irish and lives in Park Gate. Can you highlight in bold which "accusation" your mate would find "insulting"?

 

GM - one correction, he is not my mate. I know nothing about his companies but I very much disagree with your potless statement. And I don't know where he lives, i thought it was Warsash

[Weston Saint]

Ron, unless you are their bank manager, you have no clue whether they "would have no problem" with the deposit, as you are relying on what you have been told by salesmen trained in bulls h!t. I pray I'm wrong, but I think we'll find that we have some kite fliers who are thrashing about trying to raise funds, to play their game of Monopoly. Writing a cheque for £500K really does concentrate the mind and the "moneymen" have rarely earned their money on the back of a couple of chancers who have failed to make money in business themselves. I think it will be a case of, "Do not pass Go, do not collect £200".

 

But, again, I hope I'm wrong...

I hope you ar wrong as well.

[Saints foreva]

They will be formally announced new owners later on this afternoon.

 

Everyone have their guns ready.

 

If hes lying get ready to hurl cyber abuse!

 

[Saint_Ash]

GM - one correction, he is not my mate. I know nothing about his companies but I very much disagree with your potless statement. And I don't know where he lives, i thought it was Warsash

 

If he's not your mate why would you want to run off to him saying "wooo, look what someone wrote about you on the forum, go get him"

 

Come on, it's hardly bad is it? If he has the funds and ends up fronting the winning bid then I think he'll have the last laugh don't you?

[Evil Monkey]

They will be formally announced new owners later on this afternoon.

 

Phew.

[Weston Saint]

They will be formally announced new owners later on this afternoon.

Absolute nonsence. They may announce the preferred bidder but that is all. More due diligence before and owner is announced. That may take weeks.

[thorpie the sinner]

They will be formally announced new owners later on this afternoon.

 

preferred bidders maybe.....new owners probably not

[Guided Missile]

GM - one correction, he is not my mate. I know nothing about his companies but I very much disagree with your potless statement. And I don't know where he lives, i thought it was Warsash

So you don't have a clue about this guy and yet you disagree with me? He lists his address on the Companies House return and it's a house worth about £300K in Park Gate....don't tell him I posted that, though, he might be insulted...

[krissyboy31]

They will be formally announced new owners later on this afternoon.

 

By they, I presume you mean Pinnacle? And I presume you mean 'preferred bidders' rather than 'new owners'?

[lancelot link]

GM - I really dont give a monkeys how much his house is worth! So long as he/they/someone saves the club then that's all I care about right now........ at this stage, I'd put a bet that some people would even let RL back in if it is as close to the wire as we think it is........