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Pinnacle deadline extended


Master Bates

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Sorry Frank, this wasn`t particularly aimed at you, but there are posters on here who are so entrenched in their opposition to certain people that they are able to twist anything that those people do and turn them into negatives. 19C springs to mind!

 

NO worries... I think NCs style is part of the problem (bit similar to Lowe? ;-)) There is as steadfastness or even arrogance in his posts and its right to question this as his views can be perceived as very polarised - but that does not mean there is not some truth or merit in some of his thoughts and opinions.

 

Crouch and Lowe have one thing in common . They both have character traits that make it difficult and at times incredibly frustrating to defend or support even if they do individual things taht deserve credit or have merit - myargument really is only with tose that seem to refuse to ever acknowledge that this is even possible when talking about Lowe.

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Possible link with saints?

 

Glad your situation is not quite as dire as reported by BBC yesterday afternoon. Before our match yesterday PFC officials were showing four arab looking men around and took them into one of our well appointed hospitality suites (this is what you call a "tent".) It smacks of being a preliminary visit and entertains four posibilities.

 

1) They are just interested in us.

 

2) They are interested in us but whilst they're in the area they might look at you.

 

3) They were interested in you but whilst they were in the area they thought they'd take a look at us and get to see a thoroughly entertaining premiership match culminating in a Pompey victory whilst experiencing the warm friendly atmosphere featuring the two sets of fans singing to each other about Shearer and applauding each other.

4) they were just trying to arrange a booze up.

 

I have no knowledge of anything to link them with you but stranger things have happened and i thought you'd be interested in the mega rich within 17 miles of Southampton

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Big up Mr Crouch - or not as the case maybe?? I may be me missing the point totally but all the time Leon is keeping us afloat the administrator/buyer will drag their feet until a suitable deal is agreed. Deals of this nature are never agreed quickly and to a level that is mutually agreed by both sides. A deal like this is normally hastily agreed at the 11th hour, when the only when all other alternatives are gone and all that is left is to liquidate.... I can't help but think that keeping us ticking over will extend the time frame for administrators and bidders to continue the stand off without getting down to the real nitty gritty and getting the deal done.

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Seems to me the Echo, like everyone else, has no real idea of what is going on.

 

Are Pinnacle time-wasters? Probably not. They haven't signed the deal yet, that could just mean they are fighting to get every last penny off the asking price. Means they can invest more in the team in the longer term.

 

C'mon people, try ignoring all this for now and just look at the glass half full! Fingers crossed!!

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If true then Leon Crouch is elevating himself into the echelon of Saints, along with Corbett, Blagrave and Reader.

 

Isn't Crouch though thought to be part of a potential consortium put together by Salz ? If so, I wonder if they will now be in the frame again.

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Heartfelt thanks Leon Crouch and family....I am sure the vast majority of TRUE fans feel the same way about what you and your family have done for Southampton Football Club.

Regardless of what a few idiots say on this forum....I hope you will be a part of Saints future.

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Leon Crouch is a top man.

 

It's sickening how some scum slag him off.

 

 

I don't think anybody is slagging him off.

 

But it is absolutely legitimate to criticise him for his part in our difficulties over the past 2 years or so - He of course being a senior member of the clubs hierarchy during that time when many mistakes were made.

 

That said he generosity now is to be wholly commended.

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Whatever you think of him he has proved his heart is in the right place at least. Thank you Leon for keeping the club going - hopefully a deal will be concluded shortly (and you might even get your money back!).

 

Well done though, a great example to many other former board members who have failed to match such generosity.

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Mr Crouch may well have just kept us from starting on -25 points next season, or worse, not starting at all, ever again, and we cant forget that should we survive.

 

Fry must be persisting with pinnacle for a good reason, he chose them because they appeared to offer the best deal for the creditors (i.e. the most money) which can only be a good thing for the future of Saints.

 

Patients, people! :)

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Let me add sincere thanks to Leon for dipping into his wallet yet again.

 

If as we are led to believe the club is on the verge of total collapse with no deal likely to sell the club (according to the Echo) why is he apparantly throwing good money after bad?

 

What do you know that we dont Leon ??

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Im hearing the reason for the stalemate of the pinnacle bid is not to do with lack of funds, in fact its the reverse. Apparentley as I mentioned the yesterday these guys are worth big bucks (circa £700m). The creditors are asking for more and more financial information from pinnacle but they are reluctant to give full detail on thier assets / cash as this could be used as a tool to push the price up.

 

Kind of explains why Fry keeps extending the deadline as they are still talking and clearly there is cash available. However there were no comments either way as to whether they would agree a deal.

 

Also had confirmation that pay day is indeed the 4th thursday of the month.

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Im hearing the reason for the stalemate of the pinnacle bid is not to do with lack of funds, in fact its the reverse. Apparentley as I mentioned the yesterday these guys are worth big bucks (circa £700m). The creditors are asking for more and more financial information from pinnacle but they are reluctant to give full detail on thier assets / cash as this could be used as a tool to push the price up.

 

Kind of explains why Fry keeps extending the deadline as they are still talking and clearly there is cash available. However there were no comments either way as to whether they would agree a deal.

 

Also had confirmation that pay day is indeed the 4th thursday of the month.

 

So, the creditors and Begbies are in danger of cutting off their noses to spite their face? Hoorah, the banking industry shoots itself in the foot yet again.

 

Come on Mr Barclays....here's a chance for Banks to show that banking isn't a hypocritical industry....you've messed up big time over the last few years how about cutting some slack for a Football Club who also finds itself in difficulty due to the way the finances have been managed? Not forgetting it's you, the Banks, who poured the cash down the well in the first place....

 

Like our politicians, they (banks) just don't get, it do they?

 

One word: Arrogance

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So, the creditors and Begbies are in danger of cutting off their noses to spite their face? Hoorah, the banking industry shoots itself in the foot yet again.

 

Come on Mr Barclays....here's a chance for Banks to show that banking isn't a hypocritical industry....you've messed up big time over the last few years how about cutting some slack for a Football Club who also finds itself in difficulty due to the way the finances have been managed? Not forgetting it's you, the Banks, who poured the cash down the well in the first place....

 

Like our politicians, they (banks) just don't get, it do they?

 

One word: Arrogance

 

Would be interesting to see how they would ahve behaved had we still been in the prem...given their sponsorship and the resultant bad PR....

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Im hearing the reason for the stalemate of the pinnacle bid is not to do with lack of funds, in fact its the reverse. Apparentley as I mentioned the yesterday these guys are worth big bucks (circa £700m). The creditors are asking for more and more financial information from pinnacle but they are reluctant to give full detail on thier assets / cash as this could be used as a tool to push the price up.

The normal course of events is to agree a price in principle, provide a deposit binding both parties, together with proof of funds. I can't quite understand how proof of funds, ie a letter from their accountant/bank confirming that the buyer has sufficient funds for the agreed sum, would "push the price up".

 

The more likely explanation is that the guys worth "big bucks" have walked away and a substitute sugar daddy is being sought. Then again, what do I know....?

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I don't think anybody is slagging him off.

 

But it is absolutely legitimate to criticise him for his part in our difficulties over the past 2 years or so - He of course being a senior member of the clubs hierarchy during that time when many mistakes were made.

 

That said he generosity now is to be wholly commended.

 

But he had no powers to do anything bar from a six month period that ended in May of 2008. You simply cannot blame someone for such and such when they have no say in anything !

 

Anyway i doubt Leon Crouch is interested in a "handful" of mislead fans who have been suckered by anti comments on a internet forum.

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Interesting info WildSaint.

 

Cannot Fry turn the 'deadline' on its head and tell the creditors that THEY have to accept an offer by, say, Thursday or risk losing everything.

 

I know he works for the creditors, but surely he has the authority to tell it as it is?

 

But they wont. If no bid is accepted, the assets will be flogged off one at a time. This will, probably, make more for the creditor. This is what worries me.

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Fry really is making himself look desperate. He keeps setting these deadlines and then when nothing happens justs sets another. Not surprising nothings been finalised yet, Fry's giving them all the time in the world!

 

You seem to have forgotten that Mr Fry has bosses who are pressurising him to come up with a solution, sooner rater than later, so 'extension of deadlines' and 'breakthrough' are the sort of socio-political gobble-de-gook that BIG suits like to hear to re-assure themselves that they are not actually bogged down in an impasse.

 

If Mr Fry does not clinch a deal, I suspect his take home pay will be drasticaaly reduced later in the year.

 

Just spare a thought for the poor luckless sod!

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The normal course of events is to agree a price in principle, provide a deposit binding both parties, together with proof of funds. I can't quite understand how proof of funds, ie a letter from their accountant/bank confirming that the buyer has sufficient funds for the agreed sum, would "push the price up".

 

The more likely explanation is that the guys worth "big bucks" have walked away and a substitute sugar daddy is being sought. Then again, what do I know....?

 

 

A bit simplistic, but if Pinnacle are offering 30p in the pound and the Creditors think Pinnacle can afford 75p, I can see that there would be a lot of room for negotiation.

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Im hearing the reason for the stalemate of the pinnacle bid is not to do with lack of funds, in fact its the reverse. Apparentley as I mentioned the yesterday these guys are worth big bucks (circa £700m). The creditors are asking for more and more financial information from pinnacle but they are reluctant to give full detail on thier assets / cash as this could be used as a tool to push the price up.

 

 

 

Interesting,but the part in bold does not seem plausible to me.

 

I would have thought that all the potential purchaser has to do is establish they have sufficient funds - so the amount involved should be vaguely established at the outset - to complete the purchase from the creditor.Having gone that far I can't see the creditors needing to delve beyond that.

 

Regretably I suspect Guided Missiles take on it may be more likely.

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But he had no powers to do anything bar from a six month period that ended in May of 2008. You simply cannot blame someone for such and such when they have no say in anything !

 

.

 

If thats is true, fair enough... but are you in effect saying that teh CHAIRMAN of the football club had absolutely no say in the deciosn to spend that 7 mil + under burley? Surely given his position as Football clud chairman and 10% shareholder he could ahve said sorry we dont need it at the moment recognising taht without it in writing from Wilde that there were investors willing to underwrite such a gamble, it was a risk not worth taking? Or what did he do all day as FC chairman?

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Whether its a tenner or 350K anything he donates he deserves credit for - end of - because all I have ever said is that with all these individuals there are pros and cons and if true (and I am not sying its not' date=' then this is very definitely a pro - as I have said time and time again - but Alpine seems unable to read those statements....[/quote']

 

Whatever happens to St Marys stadium I hope the statue of the Great Man Ted Bates is allowed to stand as a lasting symbol of what SFC was all about,LC take a bow for digging in your pocket to pay the players and giving me some hope but most of all those people that really know you see that statue as what it means/meant to be a TRUE SAINT. respect.

 

RUPERT + WILDE= PARASITES simple.

 

SAINTS TILL I/WE DIE!

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But they wont. If no bid is accepted, the assets will be flogged off one at a time. This will, probably, make more for the creditor. This is what worries me.

 

How so?

 

JF and half of Staplewood worth what on the current open market?

 

A football stadium with no club to use it, heavily contaminated and with no planning permission for anything other than sports use, that would cost a fortune to remediate?

 

A football club with no players and no ground to play on?

 

Can anyone put realistic figures on these assets?

 

Pancake I'm not saying you're wrong - I'm just interested to know the separate values of these assets compared with a realistic offer price for all assets in one bundle.

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A bit simplistic, but if Pinnacle are offering 30p in the pound and the Creditors think Pinnacle can afford 75p, I can see that there would be a lot of room for negotiation.

 

In the end the creditors will have to accept the best offer unless they want to run the business themselves.

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This is a buyers market. The buyer should have the initiative. Make a written indicative bid, prove the funds for the same, ask for full due diligence or publically walk away from the table. Put the pressure back on the creditors.

 

I am not sure the Pinnacle group have reached the written indicative bid stage yet. That has to be a powerful tool and lack of such suggests a lack of real desire or finance.

 

I am with GM on this one.

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The positive about Crouch's actions is that it is unlikely he would fund the players' wages if he did not believe a deal would be done otherwise he is at the bottom of the list when and if the time comes to satisfy the creditors.

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