Third Division South Days Posted 18 May, 2009 Posted 18 May, 2009 http://www.dailyecho.co.uk/sport/saints/news/4376709.Mystery_group_poised_for_11th_hour_Saints_bid/ Trouble is this story in this mornings paper so it was probably written at least 24 hours ago. MF is being quoted now on Solent that a bid for the FC is unlikely.
Saint_Jonny Posted 18 May, 2009 Posted 18 May, 2009 I am now Sh!tting my self with worry.. this is AWFUL
OldNick Posted 18 May, 2009 Posted 18 May, 2009 Sounds like Pinnacle have acted similar to MJ. All p1ss and wind, the lot of them.MJ actually put a written bid on the table, ok it may not have been enough, but my understanding was that they had done enough to go forward.Pinnacles involvement confused matters and so PERHAPS MJ 's backers lost their patience and walked. MJ was only the spokeman or frontman the same as Lynham is for Pinnacle.
Under Weststand Posted 18 May, 2009 Posted 18 May, 2009 Whilst the Solent news on the surface seems bad, is it just a case of brinkmanship? Fry trying to push pinnacle into blinking first. and/or pressuring any other bidders sitting on the fence to make a move? God I wish we could get some positive news for a change.
Frank's cousin Posted 18 May, 2009 Posted 18 May, 2009 Why why are we not attractive to someone, there must surely be someone who wants us, please. 27 mil of debt, L1, -10 points - not going to attract someone who sees it as an investment with a return... as there isn't one.... not without potentially 'investing' (losing) 20mil + over 3 years to even have a stab at the prem....
nickfinks Posted 18 May, 2009 Posted 18 May, 2009 I am now Sh!tting my self with worry.. this is AWFUL I know I feel sick, think i'm gunna cry
Dibden Purlieu Saint Posted 18 May, 2009 Posted 18 May, 2009 I dont normally post at all, I just read, but I have to say I am a very worried man right now, as I am sure you all are. Is this the end of our club? IMO yes, but I've said this since we went into admin.
saintsmike25 Posted 18 May, 2009 Posted 18 May, 2009 Why won't people see sense. Personally MJ lot and the Pinnacle lot weren't gonna have the finances, Fry waited till he could say NO because the other lot said they would make a bid if the other two bids don't have the funds or less funds than what Fry would need. So now with Pinnacle/MJ lot out of the way that means the overseas lot are the front runners, just stump up the cash, new owners. It will be a matter of a few days ironing out details from now on.
SO16_Saint Posted 18 May, 2009 Posted 18 May, 2009 IMO yes, but I've said this since we went into admin. It's gonna be one hell of a Municipal football ground, though.
Dibden Purlieu Saint Posted 18 May, 2009 Posted 18 May, 2009 27 mil of debt' date=' L1, -10 points - not going to attract someone who sees it as an investment with a return... as there isn't one.... not without potentially 'investing' (losing) 20mil + over 3 years to even have a stab at the prem....[/quote'] But it's not is it? Aviva would accept the continuation of mortgage payments, so that wouldn't matter. It's only £4m of debt (if paid in full), plus the value of the club (both tangible and intangible).
Dibden Purlieu Saint Posted 18 May, 2009 Posted 18 May, 2009 Why won't people see sense. Personally MJ lot and the Pinnacle lot weren't gonna have the finances, Fry waited till he could say NO because the other lot said they would make a bid if the other two bids don't have the funds or less funds than what Fry would need. So now with Pinnacle/MJ lot out of the way that means the overseas lot are the front runners, just stump up the cash, new owners. It will be a matter of a few days ironing out details from now on. Sorry if I don't take an 11 poster's word for it.
obelisk Posted 18 May, 2009 Posted 18 May, 2009 At first sight things look pretty grim but I really can't believe that SFC is on the brink.
Frank's cousin Posted 18 May, 2009 Posted 18 May, 2009 Same scenario eg. - well meaning local businessman wants to help. has several contacts in the 2-5 mil wealth bracket - asks them in principle ifinterested to form a consortium to buy saints - agreement in principle from 7 or 8 backers 1 mil each etc - Fry infomed - on due diligence and creditor negotiaions goal post shift as now not as 'cheap' with creditors not prepared to accept 35p in teh pound want 45p = 10mil required, Consortium also have 1 or two of originla dropouts so 3-4 mil short, desperately trying to raise teh additional 3-4 mil from other sources/new members - delays formal bid.... sound feasible?
Frank's cousin Posted 18 May, 2009 Posted 18 May, 2009 But it's not is it? Aviva would accept the continuation of mortgage payments, so that wouldn't matter. It's only £4m of debt (if paid in full), plus the value of the club (both tangible and intangible). Cost of getting out the mess starting on -10 etc... simply put no return
Saint_Ash Posted 18 May, 2009 Posted 18 May, 2009 Sorry if I don't take an 11 poster's word for it. Are you some sort of elitist ****? Putting someone down because he has 11 posts to his name? Nice one!
OldNick Posted 18 May, 2009 Posted 18 May, 2009 Whilst the Solent news on the surface seems bad, is it just a case of brinkmanship? Fry trying to push pinnacle into blinking first. and/or pressuring any other bidders sitting on the fence to make a move? God I wish we could get some positive news for a change.But by sayting he doesnt expect another bid surely that would leave the way for any bids to be very much lower as it is last minute.Not what the creditors want or is it as TNT alluded to that somebody has come in for just the stadium and not interested in the football club.The new buyers of the stadium will not worry if there is football played there or not and if so they will rent it to the shell of the club left to play in the blue square. i was talking to somebody who does events etc and said to him surely the stadium would have little use except for football but he thought differently, as it could be used profitably he thought for conferences and concerts etc. as a venue it could be bought at a reasonable price and probably more than the consortiums are3 offering for it. All stuff and nonsense im sure
Third Division South Days Posted 18 May, 2009 Posted 18 May, 2009 Why won't people see sense. Personally MJ lot and the Pinnacle lot weren't gonna have the finances, Fry waited till he could say NO because the other lot said they would make a bid if the other two bids don't have the funds or less funds than what Fry would need. So now with Pinnacle/MJ lot out of the way that means the overseas lot are the front runners, just stump up the cash, new owners. It will be a matter of a few days ironing out details from now on. Inside knowledge or blind optimism? I suspect the latter.
egreog Posted 18 May, 2009 Posted 18 May, 2009 I'd be surprised if they find a buyer in time...........wages due this Thursday and there may not be the funds to pay.............then the scenario, I assume, becomes much more critical...........
Dibden Purlieu Saint Posted 18 May, 2009 Posted 18 May, 2009 Cost of getting out the mess starting on -10 etc... simply put no return But the club is likely to run as a solvent company next season (hell, it did for 9 months this season), and with the loss of all our over-paid players I think we'll turn a small profit, so I disagree with the no return. Don't forget Leeds made a £4.5m profit last season.
aintforever Posted 18 May, 2009 Posted 18 May, 2009 I'd be surprised if they find a buyer in time...........wages due this Thursday and there may not be the funds to pay.............then the scenario, I assume, becomes much more critical........... I dunno, AFC Bournemouth didn't pay their players for months.
Third Division South Days Posted 18 May, 2009 Posted 18 May, 2009 I'd be surprised if they find a buyer in time...........wages due this Thursday and there may not be the funds to pay.............then the scenario, I assume, becomes much more critical........... Echo claiming today that there is enough in the coffers to pay this months wages.
Master Bates Posted 18 May, 2009 Posted 18 May, 2009 I'd be surprised if they find a buyer in time...........wages due this Thursday and there may not be the funds to pay.............then the scenario, I assume, becomes much more critical........... Wages this month are covered.
SFKA South Woodford Posted 18 May, 2009 Posted 18 May, 2009 Is it not a possibility that both the Pinnacle and MJ bids had the funds and were ready to deal for the club which included the stadium within it's price, but when the other guy came along with his bid for St Marys, the administrators realised that they could get more of a price for the stadium on it's own, so told the bidders to increase their offer for the stadium or a deal would not be done?
Dibden Purlieu Saint Posted 18 May, 2009 Posted 18 May, 2009 Are you some sort of elitist ****? Putting someone down because he has 11 posts to his name? Nice one! No, not at all, but how many people have we seen come on here with little to no posts, tell us 'today's the day' and then slink back off laughing at the biting fish? Unless we get a genuine source etc, don't believe a word I hear.
Whitey Grandad Posted 18 May, 2009 Posted 18 May, 2009 But by sayting he doesnt expect another bid surely that would leave the way for any bids to be very much lower as it is last minute.Not what the creditors want or is it as TNT alluded to that somebody has come in for just the stadium and not interested in the football club.The new buyers of the stadium will not worry if there is football played there or not and if so they will rent it to the shell of the club left to play in the blue square. i was talking to somebody who does events etc and said to him surely the stadium would have little use except for football but he thought differently, as it could be used profitably he thought for conferences and concerts etc. as a venue it could be bought at a reasonable price and probably more than the consortiums are3 offering for it. All stuff and nonsense im sure But they might as well lease it to someone who wants to play football there. It would be extra revenue.
bjk Posted 18 May, 2009 Posted 18 May, 2009 Why won't people see sense. Personally MJ lot and the Pinnacle lot weren't gonna have the finances, Fry waited till he could say NO because the other lot said they would make a bid if the other two bids don't have the funds or less funds than what Fry would need. So now with Pinnacle/MJ lot out of the way that means the overseas lot are the front runners, just stump up the cash, new owners. It will be a matter of a few days ironing out details from now on. God i hope your right.
Wes Tender Posted 18 May, 2009 Posted 18 May, 2009 Is it a sign of the times that a post allegeding the Pinnacle bid of hope is all over is treated with 35 posts of irrelevance and poor humour. It's like we are laughing in the face of our own demise, refreshing if nothing else. And five of those irrelevant posts came from you. How ironic, eh?
OldNick Posted 18 May, 2009 Posted 18 May, 2009 But they might as well lease it to someone who wants to play football there. It would be extra revenue. they would but not imperitive to them
Wildgoose Posted 18 May, 2009 Posted 18 May, 2009 Well this lot have the funds and want to take FULL control of the club. Rather than combine funds causing more boardroom drama's. Just the news we've been waiting for I don't even think Pinnacle failed. They came in with an offer which wasn't as good as what the overseas lot WILL offer. Watch this space. No offense intended but I think we need more than pure conjecture from the Echo right now.......this sounds like smoke in the wind at the moment. Not sounding good to me, we've been misled so many times
OldNick Posted 18 May, 2009 Posted 18 May, 2009 Is it not a possibility that both the Pinnacle and MJ bids had the funds and were ready to deal for the club which included the stadium within it's price, but when the other guy came along with his bid for St Marys, the administrators realised that they could get more of a price for the stadium on it's own, so told the bidders to increase their offer for the stadium or a deal would not be done?That is the impression i got
Kingsland Red Posted 18 May, 2009 Posted 18 May, 2009 i was talking to somebody who does events etc and said to him surely the stadium would have little use except for football but he thought differently, as it could be used profitably he thought for conferences and concerts etc. as a venue it could be bought at a reasonable price and probably more than the consortiums are3 offering for it. All stuff and nonsense im sure Rugby ? It's included in a world cup bid and from my limited knowledge it appears rugby seems to be going regional with its clubs. How about 'Solent Saints' with a reappearance by SCW !!!
OldNick Posted 18 May, 2009 Posted 18 May, 2009 Rugby ? It's included in a world cup bid and from my limited knowledge it appears rugby seems to be going regional with its clubs. How about 'Solent Saints' with a reappearance by SCW !!! Oh, I hadnt thought of that, make a good hockey pitch and clay pigeon shooting venue as well.RL's plan all along
Master Bates Posted 18 May, 2009 Posted 18 May, 2009 Rugby ? It's included in a world cup bid and from my limited knowledge it appears rugby seems to be going regional with its clubs. How about 'Solent Saints' with a reappearance by SCW !!! We already have Southampton Spitfires playing in the Rugby League. We won 32-22 at the weekend to go 4th in the table.
Nineteen Canteen Posted 18 May, 2009 Posted 18 May, 2009 Why why are we not attractive to someone, there must surely be someone who wants us, please. Maybe because last season and the season before we failed to sell 18,000 season tickets as Norwich have done for next season with the prospect and subsequent reality of League 1 football. Perhaps like a lot of our stay away fans the fatcats don't consider us worthy of their support? Apathy rules along with a serious recession and the fact that money can't be made from football outside the very top clubs (or the risk/reward ratio is to high). If we go to the wall so will the likes of Darlington and Stockport and many more to follow. Football is eating itself and the fan is about to turn browm.
OldNick Posted 18 May, 2009 Posted 18 May, 2009 Im in denial that we could fold but for every fan,, I doubt any really thought we might. Yes many argued that going into admin was the worst case, while others gloried in the thought of RL etc losing their money but in the end whatever side of the fence you are on we ALL are potentially going to be the biggest losers
ladysaint Posted 18 May, 2009 Posted 18 May, 2009 Does anyone know what has happened to the bid that Souness was involved in, or is this the overseas bid that has come to light.
OldNick Posted 18 May, 2009 Posted 18 May, 2009 Does anyone know what has happened to the bid that Souness was involved in, or is this the overseas bid that has come to light.Like the Frost agvyn Davies bid all those years ago it was all talk I think you will find
Master Bates Posted 18 May, 2009 Posted 18 May, 2009 yet the premier league and sky will be glad to see saints and other clubs disappear as they'll expect many fans will adopt premiership teams (and i bet many do). Eastleigh and FC Southampton for me :partyman:
70's Mike Posted 18 May, 2009 Posted 18 May, 2009 Yet sky will tell us it's getting better and better. As I heard yesterday, this has been the best premiership season ever. hmmm. same champions again, winning easily with time to spare thanks to a drab, lifeless 0-0 draw. tops scorers getting 18 goals, west brom relegated from the start, villa failing to make the top 4 sweat. the only thing of interest is newcastles demise. that is it. yet the premier league and sky will be glad to see saints and other clubs disappear as they'll expect many fans will adopt premiership teams (and i bet many do). not me
MusicMan Posted 18 May, 2009 Posted 18 May, 2009 It would be good to hear from "Dogface" and "The Farmer" now. How 'bout it guys.
ART Posted 18 May, 2009 Posted 18 May, 2009 Does anyone know what has happened to the bid that Souness was involved in, or is this the overseas bid that has come to light. According to a friend north of the board this morning Souness is supposed to be heading a consortium about to takeover Rangers. It was on all the Scots radio channels this morning.
Dibden Purlieu Saint Posted 18 May, 2009 Posted 18 May, 2009 Im in denial that we could fold but for every fan,, I doubt any really thought we might. Yes many argued that going into admin was the worst case, while others gloried in the thought of RL etc losing their money but in the end whatever side of the fence you are on we ALL are potentially going to be the biggest losers I'm afraid to say I have been 80-20 that we were going to fold once in admin, as I said continuously when people were saying they wanted us in admin to rid the club of Lowe. Personally, considering some of the actions of some fans over the past 12 months, I don't think the club really deserves to survive (especially for them). So down on it all at the moment.
ladysaint Posted 18 May, 2009 Posted 18 May, 2009 Yet sky will tell us it's getting better and better. As I heard yesterday, this has been the best premiership season ever. hmmm. same champions again, winning easily with time to spare thanks to a drab, lifeless 0-0 draw. tops scorers getting 18 goals, west brom relegated from the start, villa failing to make the top 4 sweat. the only thing of interest is newcastles demise. that is it. yet the premier league and sky will be glad to see saints and other clubs disappear as they'll expect many fans will adopt premiership teams (and i bet many do). Not me either, I can honestly say if Southampton FC do not survive then I am going to give up football altogether. I cant build up any enthusiasm for any other club, I have invested a lot of money over the years in SFC and have lots of memories, no other team could ever come close.
OldNick Posted 18 May, 2009 Posted 18 May, 2009 I'm afraid to say I have been 80-20 that we were going to fold once in admin, as I said continuously when people were saying they wanted us in admin to rid the club of Lowe. Personally, considering some of the actions of some fans over the past 12 months, I don't think the club really deserves to survive (especially for them). So down on it all at the moment. People have been complacent and it is not over b ut I do think Fry did not act when he had a bid.Ok he had to do what was best for the creditors but at present that does not seem to be the case unless he has had a massive offer for the stadium
broncoboy Posted 18 May, 2009 Posted 18 May, 2009 I'm afraid to say I have been 80-20 that we were going to fold once in admin, as I said continuously when people were saying they wanted us in admin to rid the club of Lowe. Personally, considering some of the actions of some fans over the past 12 months, I don't think the club really deserves to survive (especially for them). So down on it all at the moment. Dont be such a sanctimonious ****. The fans are not responsible for this situtation. The board over the last five yeears took every decision. The falling crowds reflected the poor fare on offer. Don't dare criticise the fans you arsehole
thorpie the sinner Posted 18 May, 2009 Posted 18 May, 2009 People have been complacent and it is not over b ut I do think Fry did not act when he had a bid.Ok he had to do what was best for the creditors but at present that does not seem to be the case unless he has had a massive offer for the stadium I just can't take this all in! We really could be going under esp if stadium story is true.......
up and away Posted 18 May, 2009 Posted 18 May, 2009 Originally Posted by slickmick Sounds like Pinnacle have acted similar to MJ. All p1ss and wind, the lot of them. MJ actually put a written bid on the table, ok it may not have been enough, but my understanding was that they had done enough to go forward.Pinnacles involvement confused matters and so PERHAPS MJ 's backers lost their patience and walked. MJ was only the spokeman or frontman the same as Lynham is for Pinnacle. They have both put written bids on the table. The problem arises when hard cash has to be placed upon the table. You can get 10 people together who will promise £1M each for an equal share of the club. But before that money has to move from the hand to the table, those people will be wanting to know how much control they get for that equal share. Impossible to satisy all, you end up with just a fraction remaining. With one or possibly two you stand a chance. Even when you get one major backer with several smaller it always leaves the smaller open to being squeezed out once the money is in place. Everyone has clearly witnessed uberfan Crouch and his demands for his money. When push comes to shove you will not be getting a lot of takers in that environment. People who have made this sort of money have one common denomination, a heavy liking for power and control. It's a circle that's impossible to square because of the very nature of the beast. Crouch would gladly give aways his shares for the benefit of Saints, but what he failed to add was the proviso's. - not that thwat, or the one in the dicky bow and the one with the limp looks iffy, irrespective of what is best for Saints.
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