teamsaint Posted 16 May, 2009 Share Posted 16 May, 2009 presumably if wages etc aren't met this week, then we are into a situation where players become free agents etc. If the pinnacle bid is serious, 500 K to get prefered bidder status is a reasonable ask- and Fry probably doesn't have much alternative to pushing them ito this corner. he needs cash, and fast. Link to comment Share on other sites More sharing options...
bridge too far Posted 16 May, 2009 Share Posted 16 May, 2009 ........ Interesting 1st post by the way It's not often you see Isabel spelt that way. It's usually Isobel I think. But I'm sure the poster knows how to spell her own name. Link to comment Share on other sites More sharing options...
aintforever Posted 16 May, 2009 Share Posted 16 May, 2009 This situation is always going to go down to the last minute, unless there is a billionare involved these people are not going to want to pay a penny more than they have to. The dangerous thing is that the people involved appear to be pennyless, middlemen. One lot can't even build a decent website and the other is just a joke. There is also a chance that these "mystery" foreigners have just been made up to try and move things along. Link to comment Share on other sites More sharing options...
Weston Saint Posted 16 May, 2009 Share Posted 16 May, 2009 It's not often you see Isabel spelt that way. It's usually Isobel I think. But I'm sure the poster knows how to spell her own name.Isabel is perfectly ok as a spelling Link to comment Share on other sites More sharing options...
up and away Posted 16 May, 2009 Share Posted 16 May, 2009 kind of makes the proof of funds a bit of a joke doesnt it? 1st stage - show interest 2nd stage - prove you have the wonga 3rd stage - convince the administrator your the best offer 4th stage - provide gaurentee's that you have the wonga whats the point of the 2nd stage even being there when the 4th stage seems to be the important one? why not have a set figure that you expect perspective buyers to have before they come sit at the table? company worth 40 million up for grabs should have possible buyers turn up with proof of at least 10 million available before they are alloud in the door. If pinnicle are the perfered bidders and yet they are having trouble proving funds i dont hold out much hope should we have to drop back to the fall back plan of LLS. They have proved they have certain finances available to them, now they have to commit to using those finances. With one single fund source it is straightforward, with more you have to have the commitment and agreement of all, for something that is not neccessarirly cast in stone and been made up as they go along. It would not surprise me that both main bids go the same way, unless you have a very tight knit group of investors. We have seen from the details of the Bournemouth fiasco that it was more of a sales job with little hard and fast up front. It's one thing saying it's a good idea, it's another actually handing over cash for a non controlling interest to someone who is not family. The only question we need to know is if the back up option has the possibility of at best, keeping us out of the Blue Square Premier? From the feed back I have heard, even that cushion will be denied us if we fall from the Football League. Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 16 May, 2009 Share Posted 16 May, 2009 So why aren't they talking today? I can't believe they have been given the weekend off when we are on the tightest deadline! unbelievable! Link to comment Share on other sites More sharing options...
bridge too far Posted 16 May, 2009 Share Posted 16 May, 2009 Isabel is perfectly ok as a spelling I must have a severe case of 'trouseritis' then Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 I would agree Mike, and I expect it starts that way:- ie " A consortium provides proof of funds". But when they get into detailed negotiations, I would imagine all the problems surface in different ways. Eg:- Creiditors, Shareholders, Bank/Insurance Companies, HMRC, The Football League, Ground complications all wanting to be "first", and not all of it entirely negotiable ??Blimey,somebody whose user id is even less anonymous than mine! Link to comment Share on other sites More sharing options...
krissyboy31 Posted 16 May, 2009 Share Posted 16 May, 2009 So why aren't they talking today? I can't believe they have been given the weekend off when we are on the tightest deadline! unbelievable! Probably have to pay their team of lawyers double time. Link to comment Share on other sites More sharing options...
Saint Billy Posted 16 May, 2009 Share Posted 16 May, 2009 So why aren't they talking today? I can't believe they have been given the weekend off when we are on the tightest deadline! unbelievable! My thoughts exactly!. Do we know for sure that the meeting is not continuing over the weekend? If they are not I think it is fecking ludicrous especially with the greedy gits (sorry, players) wages due to be sorted thursday. If pinnacle pull out early next week that surely leaves no time for anyone else to come in, do a deal, put some money down to pay the players their hard earnt salaries. Link to comment Share on other sites More sharing options...
ItchenRob Posted 16 May, 2009 Share Posted 16 May, 2009 Just wondering if financial guarantees might mean something else than just having the money. I've heard mention that a certain amount is to be paid for the club, then further money later. The guarantees could be about making it absolutely concrete about when and how much will be paid at these times. Perhaps the terms of this weren't agred on both sides and guarantees need to be put in place about the conditions. I dunno though. Pretty much my view. Legally "proof of funds" and "financial guarantees" could be quite distinct - alternatively they might amount to the same thing! Link to comment Share on other sites More sharing options...
LestWeForget Posted 16 May, 2009 Share Posted 16 May, 2009 So why aren't they talking today? I can't believe they have been given the weekend off when we are on the tightest deadline! unbelievable! This is what leads me to believe the issue is the money. Negociators, administrators, even lawyers can be dragged around a table out of hours, but banks and financial institutions??? at the weekend??? No chance! Link to comment Share on other sites More sharing options...
saintjay77 Posted 16 May, 2009 Share Posted 16 May, 2009 They have proved they have certain finances available to them, now they have to commit to using those finances. With one single fund source it is straightforward, with more you have to have the commitment and agreement of all, for something that is not neccessarirly cast in stone and been made up as they go along. It would not surprise me that both main bids go the same way, unless you have a very tight knit group of investors. We have seen from the details of the Bournemouth fiasco that it was more of a sales job with little hard and fast up front. It's one thing saying it's a good idea, it's another actually handing over cash for a non controlling interest to someone who is not family. The only question we need to know is if the back up option has the possibility of at best, keeping us out of the Blue Square Premier? From the feed back I have heard, even that cushion will be denied us if we fall from the Football League. fair enough and i understand that deals like this are far from easy but like i said before if the 1st chance to provide proof of funds also had a rule that showed a certain ammount of funds is readily available then would this not speed the process up later on? for instance if I was heading a consortium with me and say 4 others my proof of funds would i suppose be some kind of legal commitment from all 5 of us to prove we are worth a few bob but on top of that i would create some kind of holding account where all 5 of us put in 2 million. that way there is 10 mil sitting there to get started with. if the hold up is down to this 500k then fair enough as there are still no gaurentee's that your going to get anywhere with the creditors. but if its just down to proof of funds then i dont see why all interested partys should have a holding account as a standard requirement. Link to comment Share on other sites More sharing options...
SW11_Saint Posted 16 May, 2009 Share Posted 16 May, 2009 So why aren't they talking today? I can't believe they have been given the weekend off when we are on the tightest deadline! unbelievable! I'm pretty sure they will be! Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 16 May, 2009 Share Posted 16 May, 2009 I'm pretty sure they will be! I was reading the echo this morning and was sure it said, they called a halt to talks until Monday!! i was slightly shocked Link to comment Share on other sites More sharing options...
70's Mike Posted 16 May, 2009 Share Posted 16 May, 2009 All very worrying but, imo, the one THING i am fairly sure of is that whoever ends up owning SFC we will not be buying our way back to the CCC. Link to comment Share on other sites More sharing options...
Fitzhugh Fella Posted 16 May, 2009 Author Share Posted 16 May, 2009 I was reading the echo this morning and was sure it said, they called a halt to talks until Monday!! i was slightly shocked Sounds like they reached an impasse yesterday and both sides will need to reconsider their positions over the weekend before talks resume on Monday. Link to comment Share on other sites More sharing options...
eurosaint Posted 16 May, 2009 Share Posted 16 May, 2009 Just wondering if financial guarantees might mean something else than just having the money. I've heard mention that a certain amount is to be paid for the club, then further money later. The guarantees could be about making it absolutely concrete about when and how much will be paid at these times. Perhaps the terms of this weren't agred on both sides and guarantees need to be put in place about the conditions. I dunno though. I think you may well be right about this ! There has been talk about further payments down the line (ie. 5mil if we get back to the Prem) and future gaurantees are probably harder to pin down than immediate funds ! Let's hope that this is the case because I reckon we need ready cash to start us off with a half decent squad in the 3rd div !!! Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 16 May, 2009 Share Posted 16 May, 2009 Sounds like they reached an impasse yesterday and both sides will need to reconsider their positions over the weekend before talks resume on Monday. Thats the thing that worries me Duncan, there seem to be too many caveats for Pinnacle!!! I can't see them completing, just my gut feeling!!! Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 Somebody somewhere must be losing the plot. Yesterday we have big headlines about "Put up or shut up. Come up with the readies or you are out of the picture for good" and now its been extended until Monday??? So the statement from MF printed in the Echo should really have read: ==================================== The leading contender to buy the club had been given an ultimatum to deliver on their deal today or face being axed from negotiations :smt093....unless of course you can't, in which case we will let have until Monday....unless of course you can't, in which case we will let you have until Tuesday....unless of course you can't, in which case........8-[ ==================================== Hard-nosed uncompromising stuff eh? Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 16 May, 2009 Share Posted 16 May, 2009 Somebody somewhere must be losing the plot. Yesterday we have big headlines about "Put up or shut up. Come up with the readies or you are out of the picture for good" and now its been extended until Monday??? So the statement from MF printed in the Echo should really have read: The leading contender to buy the club had been given an ultimatum to deliver on their deal today or face being axed from negotiations :smt093....unless of course you can't, in which case we will let have until Monday....unless of course you can't, in which case we will let you have until Tuesday....unless of course you can't, in which case........8-[ After the last grimacing face, we go bust!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
aintforever Posted 16 May, 2009 Share Posted 16 May, 2009 Surely it's in no ones interest for the club to fold because SMS's value depends on there being a football team. Should none of the bids be up to sratch then surely the best outcome for the creditors would be to sell assets that are not vital like the farm, the academy and staplewood. Aviva keep SMS and rent it to SFC and someone buy the club for a nominal amount? SFC folding means the players become free agents (in no ones interest) and SMS becomes a useless pile of concrete in a **** hole area of town. It MUST be in the banks interest to keep SFC alive. Link to comment Share on other sites More sharing options...
SW11_Saint Posted 16 May, 2009 Share Posted 16 May, 2009 I was reading the echo this morning and was sure it said, they called a halt to talks until Monday!! i was slightly shocked perhaps my comment should have read I would HOPE that they will be!! Rather than formal talks, would hope the consortium would be discussing internally / getting their house in order ready to hit the ground running with Fry on Monday. Jeez - why is this always so seeming easy for other clubs, yet so difficult for us?! Link to comment Share on other sites More sharing options...
darren1 Posted 16 May, 2009 Share Posted 16 May, 2009 I can understand Fry wanting a deposit to see if pinnacle are totally serious, so that is fine. I can alo understand Pinnacle saying "Hang on, we need our laywers to look at this". I mean who wants to give away a non refundable half million quid? It's a gamble as they don't know what lies in the deepest depths of the books. But even if the laywers agrre to the legalities today, the banks will not be open until Monday to transfer the cash (Unless someone here has a spare half million quid in their pocket to lend them?) Link to comment Share on other sites More sharing options...
LestWeForget Posted 16 May, 2009 Share Posted 16 May, 2009 Somebody somewhere must be losing the plot. Yesterday we have big headlines about "Put up or shut up. Come up with the readies or you are out of the picture for good" and now its been extended until Monday??? So the statement from MF printed in the Echo should really have read: ==================================== The leading contender to buy the club had been given an ultimatum to deliver on their deal today or face being axed from negotiations :smt093....unless of course you can't, in which case we will let have until Monday....unless of course you can't, in which case we will let you have until Tuesday....unless of course you can't, in which case........8-[ ==================================== Hard-nosed uncompromising stuff eh? Due credit to Ivan Katalinic's 'tache : Talks continue... Fry: Ok chaps, 9 mill for the club, stadium, train picture & everything else. Pinnacle: how about 8 mill? Fry: the creditors say 9 Pinnacle: come on, 8? Fry: 9 Pinnacle: 8 Fry: 9 Pinnacle: 8 Fry: 9 Pinnacle: 8 several hours later... Fry: 9 Pinnacle: 8 Fry: 10 Pinnacle: Hang on, you said 9!!! MF: No I didn't Pinnacle : Yes you did. MF: It was a pun. Pinnacle: A pun? MF: No, no, not a pun, no. What's the other thing which reads the same backwards as forwards? Pinnacle: A palindrome? MF: Yes, yes. Pinnacle: It's not a palindrome. The palindrome of nine would be enin. It don't work. MF: Look, what do you want. Pinnacle: No I'm sorry, I'm not prepared to pursue my line of enquiry any further as I think this is getting too silly. Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 Jeez - why is this always so seeming easy for other clubs, yet so difficult for us?!From comments I have seen from fans of other clubs in the same boat in the past, this is exactly how it always pans out. I don't think any of them have had it easy - it just seems that way because with them you were not waiting with bated breath every minute of the day. Link to comment Share on other sites More sharing options...
John B Posted 16 May, 2009 Share Posted 16 May, 2009 perhaps my comment should have read I would HOPE that they will be!! Rather than formal talks, would hope the consortium would be discussing internally / getting their house in order ready to hit the ground running with Fry on Monday. Jeez - why is this always so seeming easy for other clubs, yet so difficult for us?! I think you will find SFC is not different to other clubs in similar situation but the Stadium is probably the biggest problem to resolve Link to comment Share on other sites More sharing options...
St_Tel49 Posted 16 May, 2009 Share Posted 16 May, 2009 So why aren't they talking today? I can't believe they have been given the weekend off when we are on the tightest deadline! unbelievable! Who said they weren't? Link to comment Share on other sites More sharing options...
egreog Posted 16 May, 2009 Share Posted 16 May, 2009 (edited) All very worrying but' date=' imo, the one THING i am fairly sure of is that whoever ends up owning SFC we will not be buying our way back to the CCC.[/quote'] Totally agree........ seems it will be life on a shoestring for many years to come..........but I suppose its better than nothing whatever league its in........as for a 5 year plan back to the Premiership, thats a total joke.........will never happen!! Edited 16 May, 2009 by egreog Link to comment Share on other sites More sharing options...
John B Posted 16 May, 2009 Share Posted 16 May, 2009 More positive on the Echo Website http://www.dailyecho.co.uk/sport/saints/news/4373926.Nailbiting_drama/ Link to comment Share on other sites More sharing options...
Charlie Wayman Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. Link to comment Share on other sites More sharing options...
St_Tel49 Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. Bye then Link to comment Share on other sites More sharing options...
John B Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. Goodbye Link to comment Share on other sites More sharing options...
SW11_Saint Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. You can go and sit at another clubs ground, but you know it won't be the same, and your heart won't be there... Have a mate, a mad Stoke fan who "gave up on them", the year before their promotion to the Prem, and bought a Season Ticket for Arsenal instead. Hopefully it'll work out the same way here...! Link to comment Share on other sites More sharing options...
Red and White Army Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. "Fans" like you and alpine saint, it is any wonder we're in this position now I wonder? Link to comment Share on other sites More sharing options...
Ludwig Posted 16 May, 2009 Share Posted 16 May, 2009 You can go and sit at another clubs ground, but you know it won't be the same, and your heart won't be there... It's often generally more enjoyable than watching Saints though. Because you don't actually care that much about what happens. The 'highs' don't match those of Saints anyday though. Link to comment Share on other sites More sharing options...
waggy Posted 16 May, 2009 Share Posted 16 May, 2009 Did I not read somewhere recently in this sea of speculation that is SWF that the overseas bidder was willing to join another consortium to ensure that it was successful, could this be the cause of the delay? Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 Due credit to Ivan Katalinic's 'tache : :confused: Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises.I would like to add my own flame to the many that you will receive for posting such drivel. Link to comment Share on other sites More sharing options...
LestWeForget Posted 16 May, 2009 Share Posted 16 May, 2009 :confused: The first part was a direct quote from another thread.... http://www.saintsweb.co.uk/forum/showpost.php?p=300764&postcount=76 Link to comment Share on other sites More sharing options...
TNT Posted 16 May, 2009 Share Posted 16 May, 2009 Not heard a bean from the administrator regarding 'deadlines'. Pure paper talk (literally) Link to comment Share on other sites More sharing options...
SW11_Saint Posted 16 May, 2009 Share Posted 16 May, 2009 Did I not read somewhere recently in this sea of speculation that is SWF that the overseas bidder was willing to join another consortium to ensure that it was successful, could this be the cause of the delay? Yes, the Echo hinted that the "potential mystery foreign bidder" might pool resources with Pinnacle. Who knows. Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 The first part was a direct quote from another thread.... http://www.saintsweb.co.uk/forum/showpost.php?p=300764&postcount=76If it was a direct quote I would have quoted it! It was a complete coincidence - jeez :axe: Link to comment Share on other sites More sharing options...
Dalek2003 Posted 16 May, 2009 Share Posted 16 May, 2009 Anyone who deserts SFC now for one of the plastic clubs now should be ashamed. It is easy to support a team when it is doing well, but now SFC need its supporters more than ever. We all have to stand together, whatever happens, as this is the only way the club will continue to exist, in whatever capacity. The Phoenix will rise from the ashes ! Link to comment Share on other sites More sharing options...
egreog Posted 16 May, 2009 Share Posted 16 May, 2009 I bet the Monday deadline is extended.......!! Link to comment Share on other sites More sharing options...
LestWeForget Posted 16 May, 2009 Share Posted 16 May, 2009 If it was a direct quote I would have quoted it! It was a complete coincidence - jeez :axe: Misunderstanding alert! LOL Didn't originally quote it cos I was adding to it... a little unartistic licence... Link to comment Share on other sites More sharing options...
kpturner Posted 16 May, 2009 Share Posted 16 May, 2009 The first part was a direct quote from another thread.... http://www.saintsweb.co.uk/forum/showpost.php?p=300764&postcount=76Hang on, not wishing to bore the tits off everyone with pedantry, my post start "Somebody somewhere must be losing the plot" and the post you have send a link to starts "Talks continue". Just which bit was supposed to be a direct quote then - use of the letter "e" perhaps? Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 16 May, 2009 Share Posted 16 May, 2009 I bet the Monday deadline is extended.......!! until thurs, but unfortunately we will be bust! Link to comment Share on other sites More sharing options...
Toadhall Saint Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. Eh? Are you serious? Link to comment Share on other sites More sharing options...
Block 5 Posted 16 May, 2009 Share Posted 16 May, 2009 I've waited long enough for saints and Fry to sort themselves out; just heard today that I have qualified for a ST at Emirates so got to decide whether to send off my cheque over weekend. At least it's Premiership football and at least they've got Walcott and at least they play in red & white. Can't be in two places at once 'though so looks like Saints and me are all washed up. All those years down the drain and for what? It's their own fault, too many false dawns and broken promises. Cheerio cheerio cheerio etc etc. I turned down 3 tickets to Man Ure v Arse today so that I could sit here pressing F5 all day. (Actually real reason is I simply don't care). Link to comment Share on other sites More sharing options...
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