Ken Tone Posted 19 May, 2009 Share Posted 19 May, 2009 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. =QUOTE] Afraid I'm with GM and others on this. That explanation doesn't make sense. If someone bids say £8 mill for an asset, all they have to prove is that they have £8mill and can access it. The only reason to get into discussion of other finances of the potential buyer is to make clear that they have no other debts/commitments that will prevent them accessing the £8mill when it is time to hand it over. All they have to do is put the £8mill into a 'tied' third party account such as solicitor's account like often happens when buying a house.... ergo proof of funds. No need to look at anything else unless the £8 mill really isn't readily available because tied up in other deals, loans etc, in which case there really is a problem. Besides, if you, we, Le Tiss, Uncle Tom Cobbley, etc all already 'know' the bidder is worth £700mill, then so does Fry anyway. K. Link to comment Share on other sites More sharing options...
DT Posted 19 May, 2009 Share Posted 19 May, 2009 How poor are they that have not patience! What wound did ever heal but by degrees? Thou know'st we work by wit, and not by witchcraft; And wit depends on dilatory time Othello or, from A Winter's Tale: What's gone and what's past help Should be past grief Or, from the Tempest at St Mary's 'Verily, that Rupert Lowe has beshhagged us all, big time. Where is our pinnacle now?' Link to comment Share on other sites More sharing options...
Saint Bowood Posted 19 May, 2009 Share Posted 19 May, 2009 The boy stood on the burning deck His weapon in his hand the pinnacle of his manhood was large and darkly tanned He took it to the Fryer man Who looked and boldly said I'm sorry son its not enough I think the deal is dead please continue........ Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 19 May, 2009 Share Posted 19 May, 2009 19 for one ;-) Scum slag? Nice phrase - what does it mean? Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 19 May, 2009 Share Posted 19 May, 2009 To-morrow, and to-morrow, and to-morrow, Creeps in this petty pace from day to day, To the last syllable of recorded time; And all our yesterdays have lighted fools Macbeth Seems apt at the moment. Very Link to comment Share on other sites More sharing options...
monosaint Posted 19 May, 2009 Share Posted 19 May, 2009 Doubt is not a pleasant condition, but certainty is absurd. Voltaire Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 19 May, 2009 Share Posted 19 May, 2009 Like as the waves make towards the pebbled shore, So do our minutes hasten to their end. (Sonnet 60) Link to comment Share on other sites More sharing options...
Ken Tone Posted 19 May, 2009 Share Posted 19 May, 2009 Echo website still says nothing about extended deadline, or is it hidden in some other article? Was OP about paper hard copy? K. PS enjoying the shakespeare quotes. Keep 'em coming (That's not a quote btw!) Link to comment Share on other sites More sharing options...
Barfy Posted 19 May, 2009 Share Posted 19 May, 2009 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. Those are the questions that I've had on my mind (sorry if someone's already answered them). I've no experience of administration, but I would imagine that at some point in all of this, Aviva and Barclays have had these assets valued in order to determine what the worst case scenario would be for them. Link to comment Share on other sites More sharing options...
Tamesaint Posted 19 May, 2009 Share Posted 19 May, 2009 Like as the waves make towards the pebbled shore, So do our minutes hasten to their end. (Sonnet 60) Excellent news isn't it 19 - Leon is digging into his own pocket to keep the club ticking along. Will you join me in thanking him for his efforts?? Do Link to comment Share on other sites More sharing options...
Foxstone Posted 19 May, 2009 Share Posted 19 May, 2009 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. I'm far too intelligent for that - I'm not being suckered in by your view either Link to comment Share on other sites More sharing options...
JustMike Posted 19 May, 2009 Share Posted 19 May, 2009 Scum slag? Nice phrase - what does it mean? no not that!! Give me some credit, i am not reverting to name calling. I was refering to the slagging him off part Link to comment Share on other sites More sharing options...
ghq Posted 19 May, 2009 Share Posted 19 May, 2009 Then out spake brave Horatius, the Captain of the Gate, ' To every man upon this earth, death cometh soon or late'. Has very little to add to the moment, but thought I'd chuck it in, if for no other reason than I like it. Macaulay, by the way. Link to comment Share on other sites More sharing options...
aintforever Posted 19 May, 2009 Share Posted 19 May, 2009 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 it be worth boycotting/protesting against Barclay's and Aviva? Probably make naff all difference but it is these two organizations that are actively trying to kill off the football club. It may help if the people of Southampton let them know exactly how they will feel should the worst happen. A peaceful/mildy violent demo outside their branches in town might grab some attention and add some pressure. Link to comment Share on other sites More sharing options...
Weston Saint Posted 19 May, 2009 Share Posted 19 May, 2009 Leon Crouch is providing a loan to the football club, SFC Ltd who are not in Administration. It is a loan he will expect to be repayed should a new owner purchase the football club. Other than that I do not know the terms. I assume he stands to lose the lot if the club is liquidated. Whatever the terms and whatever he has done before this IS a lifeline and he deserves credit for that gesture and commitment. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 19 May, 2009 Share Posted 19 May, 2009 Leon Crouch is providing a loan to the football club, SFC Ltd who are not in Administration. It is a loan he will expect to be repayed should a new owner purchase the football club. Other than that I do not know the terms. I assume he stands to lose the lot if the club is liquidated. Whatever the terms and whatever he has done before this IS a lifeline and he deserves credit for that gesture and commitment. Considering he is a major (although not the only) reason we are in this mess, it's the least he can do! Link to comment Share on other sites More sharing options...
Deppo Posted 19 May, 2009 Share Posted 19 May, 2009 I wish the deadlines I have to meet were this elastic. Link to comment Share on other sites More sharing options...
Block 5 Posted 19 May, 2009 Share Posted 19 May, 2009 Take your poetry to the lounge please ladies...... Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 19 May, 2009 Share Posted 19 May, 2009 Considering he is a major (although not the only) reason we are in this mess, it's the least he can do! Another typical Loweite comment... Tell us what has Lowe done to help despite being the MAJOR reason for the mess we are in? Link to comment Share on other sites More sharing options...
miserableoldgit Posted 19 May, 2009 Share Posted 19 May, 2009 Considering he is a major (although not the only) reason we are in this mess, it's the least he can do! So is it the least that all the other major players in this saga can do? How much are Lowe and Wilde putting in, or is their part not as MAJOR as Crouchs? Link to comment Share on other sites More sharing options...
Rocker268 Posted 19 May, 2009 Share Posted 19 May, 2009 I wish the deadlines I have to meet were this elastic. Same it would be usefull. I'm annoyed Fry gave an ultimatum and never did anything about it apart from saying a deal is unlikely Link to comment Share on other sites More sharing options...
Rocker268 Posted 19 May, 2009 Share Posted 19 May, 2009 (edited) Another typical Loweite comment... Tell us what has Lowe done to help despite being the MAJOR reason for the mess we are in? I don't think its a Loweite comment at all. Crouch is responsible for the mess as well, so is doing his best (and more) to rectify that. Lowe and Wilde are doing nothing to help (especially Lowe as he took £2mill from the club) and are bigger factors for the demise of our club, but Crouch isnt a knight in shining armour, he is just doing the right thing (if only the other ex board members would do the same). I don't want it to appear that I'm knocking Crouch because I have massive amounts respect for him and think he has done more than anyone could have asked him to, I just don't think he deserves to dodge the blame from the problems we are in Edited 19 May, 2009 by Rocker268 Link to comment Share on other sites More sharing options...
docker-p Posted 19 May, 2009 Share Posted 19 May, 2009 Whatever criticisms people have of crouch, it seems that if it wasn't for him digging into his pocket we'd be done for by now. Similar thing to what Mr Corbett did previously. I for one won't forget that. Neither will I. And when the dust settles on all this I hope most Saints fans appreciate what he has done. Link to comment Share on other sites More sharing options...
Gordon Mockles Posted 19 May, 2009 Share Posted 19 May, 2009 (edited) Crouchs "donations" are being reported in The Echo, so whilst you can argue about the general accuracy of the press, it is a bit more than just a rumour. It has stated that Crouch has "declined to comment on the story or the specific amounts of money involved" and I suspect that even this will split people. The anti - Crouch bunch will say that as he hasn`t commented, the story must be false, but if he admits it the same people will say he is doing it for self - publicity. He can`t win can he. Totally agreed. I am bemused as to Frank's refusal to acknowledge or commit commendation purely on a cynical belief the report is false. I don't think even the Echo would make up a story like that. Also, he hasn't boasted or trumpetted about it. He's learnt (possibly) from previous mistakes and kept a level of humility (take not board predecessors!) by not shouting about it and finally employing some discretion. Whilst Crouch has made mistakes and been outspoken and over-emotional, he deserves credit and applause for helping our club out in it's hour of need. Many have suggested they would help (and earn large sums, many have made tens to hundreds and thousands from the club) Saints, others have not donated nor even wished to donate (don't see Wilde and Lowe's names on the donated over a 1k list! If I actually cared and was Lowe, I'd at least donate just over a grand just for the PR but let's not bring his name up anymore - we know he doesn't give a f*ck about Saints, loathes the supporters and is as tight as a*seholes!) Sorry to bring up past names, zzzzzz. Just occured for all those idiots defending the indefensible Lowe, they can't even have the backbone to admit Leon's done a good thing. No other f*cker seems to put the words into action in the sign of £s! Actions speak louder than words! Edited 19 May, 2009 by Gordon Mockles Link to comment Share on other sites More sharing options...
Gordon Mockles Posted 19 May, 2009 Share Posted 19 May, 2009 Like as the waves make towards the pebbled shore, So do our minutes hasten to their end. (Sonnet 60) "No great movement designed to change the world can bear to be laughed at or belittled. Mockery is a rust that corrodes all it touches.” [Milan Kundera - Czech writer and playwright in case you were wondering] Sums up about 95% of your posts. Corrosive nonsense! :smt075 Link to comment Share on other sites More sharing options...
Calvin Posted 19 May, 2009 Share Posted 19 May, 2009 The end is nearrrrrrr!!!!!!!!11111111111 Link to comment Share on other sites More sharing options...
Gordon Mockles Posted 19 May, 2009 Share Posted 19 May, 2009 Or, in the case(s) of Wilde and Lowe ....... EFFLUENT !!!! Classic! LMAO :lol: Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 19 May, 2009 Share Posted 19 May, 2009 Neither will I. And when the dust settles on all this I hope most Saints fans appreciate what he has done. So do I Link to comment Share on other sites More sharing options...
Nineteen Canteen Posted 19 May, 2009 Share Posted 19 May, 2009 "No great movement designed to change the world can bear to be laughed at or belittled. Mockery is a rust that corrodes all it touches.” [Milan Kundera - Czech writer and playwright in case you were wondering] Sums up about 95% of your posts. Corrosive nonsense! :smt075 I wasn't, anyway I'm moving my poetry to the lounge Link to comment Share on other sites More sharing options...
TNT Posted 19 May, 2009 Share Posted 19 May, 2009 Considering he is a major (although not the only) reason we are in this mess, it's the least he can do! Didnt think Crouch had much to do with the three managers employed by Lowe in relegation from the Premiership. Add the disastrous appointment of Jan Poortvliet by Lowe and another relegation via Lowe. Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 19 May, 2009 Share Posted 19 May, 2009 Sorry guys, been away for the weekend. Can anyone give me a quick summary about what the feck is going on now ?? Guessing a deal will be done tommorow or in 48 hrs or friday which in other words means.... sod all. Plus, are we being taken over by a poet or something ?? Cheers !! Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 19 May, 2009 Share Posted 19 May, 2009 (edited) Sorry guys, been away for the weekend. Can anyone give me a quick summary about what the feck is going on now ?? Guessing a deal will be done tommorow or in 48 hrs or friday which in other words means.... sod all. Plus, are we being taken over by a poet or something ?? Cheers !! Notning has changed really,we are still waiting. Oh and Leon Crouch has stumped up some cash to keep us going for a little longer and the usual suspects are all over it with their brand of disrespectful spite born out of a jealousy and disappointment that there hero has done nothing to help Edited 19 May, 2009 by ALWAYS_SFC Link to comment Share on other sites More sharing options...
Fan The Flames Posted 19 May, 2009 Share Posted 19 May, 2009 Considering he is a major (although not the only) reason we are in this mess, it's the least he can do! I knew some idiot would trott out this line, it took 117 post though which is encouraging. Link to comment Share on other sites More sharing options...
Minsk Posted 19 May, 2009 Share Posted 19 May, 2009 If thats is true' date=' 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?[/quote'] I presume you are referring to the 7m+ spent under Burley during the summer of 2006? You know, 2m for Rasiak, 1.6m for Rudi, 1m each for Viafara, Kelvin, and Pele and around 1m for BWP and Idiakez combined? I mean these are the usual referrences to the wasted 7m, so if not these then please point out which 7m you are referring to. If they are these then you are well wide of the mark in your post. Firstly, Lowe signed Rasiak (on 2nd May 2006). Secondly, Wilde was chairman of the football club when all the others were signed. I believe that the ONLY player ever signed by Saints whilst Leon was chairman of the football board was Saga (on a permanent basis, after he had prolific during his loan spell). I don't recall ANYONE complaining about us signing Saga at the time. Link to comment Share on other sites More sharing options...
Minsk Posted 19 May, 2009 Share Posted 19 May, 2009 Oh, and welll done to Leon for helping us out AGAIN! It's such a pity that those who are more culpable for our downfall cannot even give a fraction of what you have. Link to comment Share on other sites More sharing options...
Fan The Flames Posted 19 May, 2009 Share Posted 19 May, 2009 We are never gonna survive unless we get a little bit crazy Seal Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 19 May, 2009 Share Posted 19 May, 2009 Notning has changed really,we are still waiting. Oh and Leon Crouch has stumped up some cash to keep us going for a little longer and the usual suspects are all over it with their brand of disrespectful spite born out of a jealousy and disappointment that there hero has done nothing to help Cheers mate. Thought it would probably be the case. So it's another.... wait till tomorow then ??? Fair play to Crouch, shame that it is up to him and the players have not thought about their involvement. Link to comment Share on other sites More sharing options...
Gordon Mockles Posted 19 May, 2009 Share Posted 19 May, 2009 (edited) 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. But I very much doubt selling off the assets individually will make more for the creditors, as has been discussed on another thread. The combined assets, maybe minus Jackson's Farm, would fetch more as a going concern (i.e. football club). In the present market, I can't see how a stadium of no use to anyone (except maybe the council) which would need demolition if sold to developers and which is also geotechnically unsound (i.e. built on contaminated ground in a sh*tty area) would fetch much, then Staplewood and Jackson's Farm have planning restrictions so I am told, Academy Lodge...not worth bucket loads. Fry will know this, hence trying his hardest to stretch out and thrash out a deal, if previous mistakes have been made my Fry/The Creditors. As always, we know very little so most is speculation embelished from tiny snippets of info. but I very much doubt liquidation will make more money for Barclays and Aviva. The more genuine, moralistic (smaller) creditors I feel most sorry for as they may walk away with nothing. The players will effectively be redundant and walk for free, to possible more lucrative contracts with high signing on fees. Who knows?! Edited 19 May, 2009 by Gordon Mockles Removed my Nineteen rant as, even considering his past comments, felt a bit mean! See - I do have empathy! Link to comment Share on other sites More sharing options...
SaintRichmond Posted 19 May, 2009 Share Posted 19 May, 2009 Considering he is a major (although not the only) reason we are in this mess, it's the least he can do! ..... compared to Lowe, who was the Major cause of our downfall ...... who, after circa 12 + years, has yet to contribute £1 .... .... Good job he loves the Saints, otherwise we would really have been shafted ......... Link to comment Share on other sites More sharing options...
Matthew Le God Posted 19 May, 2009 Share Posted 19 May, 2009 I knew some idiot would trott out this line, it took 117 post though which is encouraging. Well its true Link to comment Share on other sites More sharing options...
lancelot link Posted 19 May, 2009 Share Posted 19 May, 2009 well I'm of the opinion that Fry is speaking to only one party now, I'm not ITK, just my opinion. Not sure which party though! Link to comment Share on other sites More sharing options...
dubai_phil Posted 19 May, 2009 Share Posted 19 May, 2009 My mates wanted me to go down to Rock Bottom last night. I told them I had already been there all weekend. Still may not have to stay there much longer, it will either be the Restaurant at the End of the Universe or at The Boudoir for their free Champagne night. We wait We worry Link to comment Share on other sites More sharing options...
Minsk Posted 19 May, 2009 Share Posted 19 May, 2009 Well, I'm a Troll We know. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 19 May, 2009 Share Posted 19 May, 2009 ..... compared to Lowe, who was the Major cause of our downfall ...... who, after circa 12 + years, has yet to contribute £1 .... .... Good job he loves the Saints, otherwise we would really have been shafted ......... I did say Crouch wasn't the only reason Leon Crouch, Michael Wilde and Rupert Lowe all played a significant part in this mess. Of course its good that he is stumping up cash now, put it shouldn't be forgotten that that he is one of the reasons for all of this and his over spending whilst in charge and empty promises of 2m which he knew would never be agreed on the conditions he laid out. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 19 May, 2009 Share Posted 19 May, 2009 We know. Is quoting someone incorrectly not an offence on these boards? Link to comment Share on other sites More sharing options...
Fan The Flames Posted 19 May, 2009 Share Posted 19 May, 2009 Well its true Its not, stay in the computer football world and leave the real one to the more intelligent. Link to comment Share on other sites More sharing options...
OldNick Posted 19 May, 2009 Share Posted 19 May, 2009 My mates wanted me to go down to Rock Bottom last night. I told them I had already been there all weekend. Still may not have to stay there much longer, it will either be the Restaurant at the End of the Universe or at The Boudoir for their free Champagne night. We wait We worry The Riddler strikes again.I think I get the drift Phil and hope that it' s 'the universe and beyond' I do hope your teamtalk was not so difficult to work out.!!! Link to comment Share on other sites More sharing options...
miserableoldgit Posted 19 May, 2009 Share Posted 19 May, 2009 I presume you are referring to the 7m+ spent under Burley during the summer of 2006? You know, 2m for Rasiak, 1.6m for Rudi, 1m each for Viafara, Kelvin, and Pele and around 1m for BWP and Idiakez combined? I mean these are the usual referrences to the wasted 7m, so if not these then please point out which 7m you are referring to. If they are these then you are well wide of the mark in your post. Firstly, Lowe signed Rasiak (on 2nd May 2006). Secondly, Wilde was chairman of the football club when all the others were signed. I believe that the ONLY player ever signed by Saints whilst Leon was chairman of the football board was Saga (on a permanent basis, after he had prolific during his loan spell). I don't recall ANYONE complaining about us signing Saga at the time. I did say Crouch wasn't the only reason Leon Crouch, Michael Wilde and Rupert Lowe all played a significant part in this mess. Of course its good that he is stumping up cash now, put it shouldn't be forgotten that that he is one of the reasons for all of this and his over spending whilst in charge and empty promises of 2m which he knew would never be agreed on the conditions he laid out. Have you read Minsks post? Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 19 May, 2009 Share Posted 19 May, 2009 I did say Crouch wasn't the only reason Leon Crouch, Michael Wilde and Rupert Lowe all played a significant part in this mess. Of course its good that he is stumping up cash now, put it shouldn't be forgotten that that he is one of the reasons for all of this and his over spending whilst in charge and empty promises of 2m which he knew would never be agreed on the conditions he laid out. Wrong! That was down to the clowns that Wilde employed who ousted Crouch.. It should also not be forgotten Lowe`s lunacy and ZERO fund donation in our hour of greatest need and throughout his entire tenure. Oh! and that Wilde was just full of S H I T. Link to comment Share on other sites More sharing options...
bridge too far Posted 19 May, 2009 Share Posted 19 May, 2009 We're straying off the topic again, guys I shall have to put on my schoolmistress gown[-X Link to comment Share on other sites More sharing options...
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