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some unhappy saints staff

OldNick

By OldNick,
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ladysaint

ladysaint

Posted
Posted

look at Portsmouth, take over interest announced on Sunday, bid accepted Tuesday, due diligence started wednesday - all came to the surface within a week - that's how it should be done, it pains me to say.

 

IT SHOULD HAVE BEEN US (really really jealous of them now).

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OldNick

OldNick

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look at Portsmouth, take over interest announced on Sunday, bid accepted Tuesday, due diligence started wednesday - all came to the surface within a week - that's how it should be done, it pains me to say.

To be fair as i said before if you are a very rich man it doesnt matter if it is 100 or 200m you go and buy it if you want it.

Some would not accept that being the case when it was stated that RL was stopping us from being sold.A really wealthy man would just pay up even if it was too highly priced.

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Evo

Evo

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Posted

I'd just like to point out a couple of things here:

 

A bid is accepted or rejected by a quorum of creditors, not the administrator. That's it - no more, no less.

 

None of us can really know what the exact state of affairs is because of the complex relationship between SLH and SFC. If it was just SFC things would be a bit easier to figure out. For instance, employee earnings are protected while the company they work for is in administration. The administrator has to underwrite the earnings of the staff he asks to continue working. However, I'm guessing the employees all work for SFC and not SLH, so their company is not in administration, yet, although it could be argued they are working for the Administrator. So, whether their earnings will be protected or not I don't know. In any event, unpaid wages are a preferential creditor and therefore trump the other "normal" creditors. Should they be made redundant, they are entitled to virtually immediate tax free statutory compensation from the Redundancy Payments Service or whatever they call themselves this week. Anything else can be claimed against the National Insurance fund, though this is a common law claim and notional tax and national insurance will be deducted.

 

As a result of this, the employees may ironically garner more protection for themselves if SFC was in administration too, though I'm not sure how this works with this complex setup.

 

A generous person could certainly loan money to SFC - it's not in administration so this is OK - and not demand payment until such time as the Company is able to pay it back. This would mean SFC is not technically insolvent so long as the this person does note call in the loan.

 

The employees will be protected by the TUPE law so they cannot be dismissed as a result of any transfer in ownership of their employer.

 

FFS don't panic Mr Mainwaring!!! Stressing ourselves out about this is not going to change things one jot. I actually have not seen any evidence that Fry does not know what he is doing and can't believe some of the things that have been dreamt up about what he is "really" doing. What is this fixation with conspiracies all about?

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Scummer

Scummer

Posted
Posted
some of the staff were very upset when the funds did not arrive and then their DD's not paid and returned.

 

Not that I'm doubting this of course, but do people really set up direct debits to come out of their accounts on the day they get paid? What if it's the weekend, bank holiday etc?

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oldsarum

oldsarum

Posted
Posted
I think fry started off pretty well - put himself across in the right way and said the right things....but in the last couple of weeks he is seriously getting on my nerves.

 

within 48 hours....no 24 hours...no sorry, 1 more week.

 

this has all been said in the public domain too, i.e. announcements to South Today /BBC Radio Solent/Daily Echo

 

what the hell is he doing? is he trying to drive us saints fans even more up the wall than we already are? Surely in the position he is in, he should not be making time sensitive announcements until he is 110% sure we will hear something? It’s making him look like a prize idiot unfortunately.

 

look at Portsmouth, take over interest announced on Sunday, bid accepted Tuesday, due diligence started wednesday - all came to the surface within a week - that's how it should be done, it pains me to say.

 

 

Thought it was rich on Radio Solent that P*mpey fans faced an anxious fortnight wait until deal is completed.

 

They've got no problems compared to us , what the F**K do they think we're going though at the moment !!!

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VectisSaint

VectisSaint

Posted
Posted
I think fry started off pretty well - put himself across in the right way and said the right things....but in the last couple of weeks he is seriously getting on my nerves.

 

within 48 hours....no 24 hours...no sorry, 1 more week.

 

this has all been said in the public domain too, i.e. announcements to South Today /BBC Radio Solent/Daily Echo

 

what the hell is he doing? is he trying to drive us saints fans even more up the wall than we already are? Surely in the position he is in, he should not be making time sensitive announcements until he is 110% sure we will hear something? It’s making him look like a prize idiot unfortunately.

 

look at Portsmouth, take over interest announced on Sunday, bid accepted Tuesday, due diligence started wednesday - all came to the surface within a week - that's how it should be done, it pains me to say.

People really do talk some nonsense. The situation with us and Pompey is completely different. We are not simply being taken over, with one guy paying another one the necessary. We are in Administration where our creditors call the shots. This is what happens when you have all the baggage of a plc, it is not simple, and to try to blame Fry for the mess is completely laughable. He has a job to do, get the best deal possible for the creditors, nothing more, nothing less. He is not responsible to the supporters, and sadly only slightly more so to the staff. He cannot just make the potential buyers hand over the money, there are lots of negotiations. It is only because some simplistic people on here think it can all be done in 5 minutes that we are worrying about it. Complex deals take time, and ultimately may not happen. We have to wait and see, I don't believe there is anything more Fry could do.

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Frank's cousin

Frank's cousin

Posted
Posted
I think fry started off pretty well - put himself across in the right way and said the right things....but in the last couple of weeks he is seriously getting on my nerves.

 

within 48 hours....no 24 hours...no sorry, 1 more week.

 

this has all been said in the public domain too, i.e. announcements to South Today /BBC Radio Solent/Daily Echo

 

what the hell is he doing? is he trying to drive us saints fans even more up the wall than we already are? Surely in the position he is in, he should not be making time sensitive announcements until he is 110% sure we will hear something? It’s making him look like a prize idiot unfortunately.

 

look at Portsmouth, take over interest announced on Sunday, bid accepted Tuesday, due diligence started wednesday - all came to the surface within a week - that's how it should be done, it pains me to say.

 

That is a completely differnt scenario - proof of funds - BIG TICK, offer made to only one person (single owner, not creditors with different expectations) TICK, offer accepted TICK begin due dilligence TICK - us on the otherhand in L1 starting off on mnus 10 points - TICK, different creditors with different expectations TICK, limited funds TICK, true picture only relaised when you see the contracts and actual cost base which will dictate/impact on business straegy TICK - see big potential for continuing losses unless at least 10 first teamer sold or contracts renegotiated down... POSSIBLE? to much hassle as dont have the funds to underwrite such losses after spening 15 mil which was a struggle to raise anyway TICK....

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OldNick

OldNick

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Not that I'm doubting this of course, but do people really set up direct debits to come out of their accounts on the day they get paid? What if it's the weekend, bank holiday etc?
i dont know the exact reasons , just that some were unhappy due to that.Perhaps due to the bank holiday etc the dd's were due.
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Ludwig

Ludwig

Posted
Posted
What are they actually saying please.

 

Just the players and staff not been paid this month, nothing new. It's nice to know we still exist in the eyes of the media, hopefully someone notices how screwed we are and jumps to save us.

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DaintyDave

DaintyDave

Posted
Posted
I'd just like to point out a couple of things here:

 

A bid is accepted or rejected by a quorum of creditors, not the administrator. That's it - no more, no less.

 

None of us can really know what the exact state of affairs is because of the complex relationship between SLH and SFC. If it was just SFC things would be a bit easier to figure out. For instance, employee earnings are protected while the company they work for is in administration. The administrator has to underwrite the earnings of the staff he asks to continue working. However, I'm guessing the employees all work for SFC and not SLH, so their company is not in administration, yet, although it could be argued they are working for the Administrator. So, whether their earnings will be protected or not I don't know. In any event, unpaid wages are a preferential creditor and therefore trump the other "normal" creditors. Should they be made redundant, they are entitled to virtually immediate tax free statutory compensation from the Redundancy Payments Service or whatever they call themselves this week. Anything else can be claimed against the National Insurance fund, though this is a common law claim and notional tax and national insurance will be deducted.

 

As a result of this, the employees may ironically garner more protection for themselves if SFC was in administration too, though I'm not sure how this works with this complex setup.

 

A generous person could certainly loan money to SFC - it's not in administration so this is OK - and not demand payment until such time as the Company is able to pay it back. This would mean SFC is not technically insolvent so long as the this person does note call in the loan.

 

The employees will be protected by the TUPE law so they cannot be dismissed as a result of any transfer in ownership of their employer.

 

FFS don't panic Mr Mainwaring!!! Stressing ourselves out about this is not going to change things one jot. I actually have not seen any evidence that Fry does not know what he is doing and can't believe some of the things that have been dreamt up about what he is "really" doing. What is this fixation with conspiracies all about?

 

All VERY worth repeating, thank you Evo.

 

Again, sat here with a creditor, and no offer or indication of serious interest has been conveyed to them, as would be required.

 

Keep on speculating about consortiums and bids and goalposts being moved by Fry, but nobody has produced a bid credible enough to have it even taken to the creditor group, and that bid has certainly not subsequently been increased, no matter what the Echo reports (for which read "read on here")

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Frank's cousin

Frank's cousin

Posted
Posted
I'd just like to point out a couple of things here:

 

A bid is accepted or rejected by a quorum of creditors, not the administrator. That's it - no more, no less.

 

None of us can really know what the exact state of affairs is because of the complex relationship between SLH and SFC. If it was just SFC things would be a bit easier to figure out. For instance, employee earnings are protected while the company they work for is in administration. The administrator has to underwrite the earnings of the staff he asks to continue working. However, I'm guessing the employees all work for SFC and not SLH, so their company is not in administration, yet, although it could be argued they are working for the Administrator. So, whether their earnings will be protected or not I don't know. In any event, unpaid wages are a preferential creditor and therefore trump the other "normal" creditors. Should they be made redundant, they are entitled to virtually immediate tax free statutory compensation from the Redundancy Payments Service or whatever they call themselves this week. Anything else can be claimed against the National Insurance fund, though this is a common law claim and notional tax and national insurance will be deducted.

 

As a result of this, the employees may ironically garner more protection for themselves if SFC was in administration too, though I'm not sure how this works with this complex setup.

 

A generous person could certainly loan money to SFC - it's not in administration so this is OK - and not demand payment until such time as the Company is able to pay it back. This would mean SFC is not technically insolvent so long as the this person does note call in the loan.

 

The employees will be protected by the TUPE law so they cannot be dismissed as a result of any transfer in ownership of their employer.

 

FFS don't panic Mr Mainwaring!!! Stressing ourselves out about this is not going to change things one jot. I actually have not seen any evidence that Fry does not know what he is doing and can't believe some of the things that have been dreamt up about what he is "really" doing. What is this fixation with conspiracies all about?

 

Everyone should simply keep quoting this - not as amusing as the speculation and conspiracy - but at least accurate.

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miserableoldgit

miserableoldgit

Posted
Posted
No but I suggest that time is a problem as there is a time when the league will want to know our situation pre the fixtures, also us getting out of administration with a CVA so we dont get docked more points.

Not to mention sales of Season Tickets and possible team building with a possible new manager?

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once_bitterne

once_bitterne

Posted
Posted
Not to mention sales of Season Tickets and possible team building with a possible new manager?

 

 

Are we even going to be able to have a pre-season? All league clubs will have finalised their pre-season plans when/if our problems get resolved! Maybe we can play some Sunday league teams?

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egreog

egreog

Posted
Posted
Are we even going to be able to have a pre-season? All league clubs will have finalised their pre-season plans when/if our problems get resolved! Maybe we can play some Sunday league teams?

 

There may not be a pre season!

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Crab Lungs

Crab Lungs

Posted
Posted
This is very sad.

 

But unfortunately not unexpected. Many of us fans became became very clever in our statements about not wanting to pay the players wages and forgot about the 100+ other employees.

 

I repeat what I said yesterday on numerous occassions.

 

I am VERY worried

 

I don't think people forgot that... I think they were specifically referring to the players not being paid... and rightly so.

 

The staff should be the priority, not the underperforming players on ridiculous, undeserved wages.

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LostBoys

LostBoys

Posted
Posted

Excuse me what about the reported

1. Leon paying the wages - oh that was April

2. The sale of Dire to Swansea £200 down and £200k shortly

3. The Irish guys paying the £500k non returnable deposit

 

Please don't tell me its all happening tomorrow or even worse pasada manana - the day after tomorrow. The time bomb is nowv ticking Mr Fry - you do not appear to be able to control events in the manner you have been presenting - real people and real money not just overpaid under performing players

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derry

derry

Posted
Posted

The problem could well be the number of potential bidders sniffing around.

 

I was slated some time ago for saying it would probably be better for the club if there was only one bidder.

 

If there was only one there would be no option but to accept. It could be that we could go to the wall while the administrators/creditors strive for the best deal for them and in the end lose the club.

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It's There

It's There

Posted
Posted
This is a significant point. Next 24 hours are very crucial !

 

Screen shot from said bulletin....here's hoping the "relegated to League 2" caption is a typo....!!!!

 

saints_bbc.jpg

 

another relegation...without losing a match....ouch!!!!!!!!!

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Victor

Victor

Posted
Posted
I think fry started off pretty well - put himself across in the right way and said the right things....but in the last couple of weeks he is seriously getting on my nerves.

 

within 48 hours....no 24 hours...no sorry, 1 more week.

 

this has all been said in the public domain too, i.e. announcements to South Today /BBC Radio Solent/Daily Echo

 

what the hell is he doing? is he trying to drive us saints fans even more up the wall than we already are? Surely in the position he is in, he should not be making time sensitive announcements until he is 110% sure we will hear something? It’s making him look like a prize idiot unfortunately.

 

QUOTE]

 

Maybe he just uses figures randomly. Bit like you, for example - you cannot be surer than 100% sure!

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bridge too far

bridge too far

Posted
Posted (edited)
bang goes the appeal then. If southampton football club staff not getting paid then we lose all credibility in our appeal surely?

 

Unless, as Oxfordshire Saint hinted at on another thread, SLH paid the wages and not SFC?

Edited by bridge too far
Wrongly attributed
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Pancake

Pancake

Posted
Posted (edited)
Unless, as Evo hinted at earlier, SLH paid the wages and not SFC?

 

But if the players and staff were paid by SLH, its even more of a link between the 2 companies (they work for SFC but get paid by SLH and the two are not intrinsically linked, yeah right!)

Edited by Pancake
typo
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bridge too far

bridge too far

Posted
Posted
But if the players and staff were paid by SLH, its even more of a link between the 2 companies (they work for SFC but get paid by SLH and the two are not intrinsically lined, yeah right!)

 

Yeah good point :(

 

So much for wiley ol' Rupert's attempt at circumventing the system eh?

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trousers

trousers

Posted
Posted
So is that a mock up or are we League 2?

 

It's not a mock up....just a screen print from BBC News....I suspect (hope!) the geezer (or lady) who type out the banners had a spot of finger and/or brain trouble. Tony Husband (the reporter) didn't say anything about further relegation.

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INFLUENCED.COM

INFLUENCED.COM

Posted
Posted
SSN just reported staff not paid and asked to continue working as a goodwill gesture.

 

Will that goodwill be reciprocated by the new owner or indeed the administrator or does the government(us) pick up their owed wages, either way I hope someway somehow these individuals get paid........and they said they wouldn't let the club die, yet another nail with this sad news

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Master Bates

Master Bates

Posted
Posted
It's not a mock up....just a screen print from BBC News....I suspect (hope!) the geezer (or lady) who type out the banners had a spot of finger and/or brain trouble. Tony Husband (the reporter) didn't say anything about further relegation.

 

phew!

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