ladysaint Posted 28 May, 2009 Posted 28 May, 2009 Why cant the four groups all interested in us put in 5m each and join forces. What would you do in this situation, i.e. mean if you worked for SFC and didnt get paid.
sotonianproud Posted 28 May, 2009 Posted 28 May, 2009 That is literally all they said on SSN, one sentence then back to Man U & Barca! It's is scary as these individuals obviously have bills to pay themselves, I can't see how they can even attempt to carry on.
RobM Posted 28 May, 2009 Posted 28 May, 2009 Why cant the four groups all interested in us put in 5m each and join forces. What would you do in this situation, i.e. mean if you worked for SFC and didnt get paid. I would imagine because we would end up with yet another board hell-bent on screwing each other over. Any investor/buyer putting millions into the club is going to want control of it and a sit in the Chairmen's seat. When you have four of this type of person, arguments and in-fighting are inevitable. I think we've suffered enough of that over the years.
Block 5 Posted 28 May, 2009 Posted 28 May, 2009 Now reported on BBC website. http://news.bbc.co.uk/sport1/hi/football/teams/s/southampton/8072132.stm
Pancake Posted 28 May, 2009 Posted 28 May, 2009 BBC have the story too: http://news.bbc.co.uk/sport1/hi/football/teams/s/southampton/8072132.stm Now reported on BBC website. http://news.bbc.co.uk/sport1/hi/football/teams/s/southampton/8072132.stm 1 hour ago.
Alain Perrin Posted 28 May, 2009 Posted 28 May, 2009 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. I agree with a lot of what you post, but it makes little difference if we are a PLC or not. The key factor is administration. Private companies can go into administration too.
Verbal Posted 28 May, 2009 Posted 28 May, 2009 SSN just reported staff not paid and asked to continue working as a goodwill gesture. I'd suggest that this is grounds for some optimism at least. If the game were really up, the staff would be streaming out of the building by now.
kpturner Posted 28 May, 2009 Posted 28 May, 2009 I'd suggest that this is grounds for some optimism at least. If the game were really up, the staff would be streaming out of the building by now......wait until next Friday to witness that.
Weston Super Saint Posted 28 May, 2009 Posted 28 May, 2009 Agree about the typo, they should have put "League 2" surely? I Lol'd
trousers Posted 28 May, 2009 Posted 28 May, 2009 .....wait until next Friday to witness that. a.k.a. the day that Fry will extend the 'deadline' again?
dubai_phil Posted 28 May, 2009 Posted 28 May, 2009 Story now everywhere http://www.guardian.co.uk/football/2009/may/28/southampton-staff-unpaid-administration http://www.dailymail.co.uk/sport/football/article-1189228/Southampton-crisis-deepens-club-fails-pay-wages-month.html?ITO=1490 http://soccernet.espn.go.com/news/story?id=650500&sec=england&&cc=4716 all say the same
trousers Posted 28 May, 2009 Posted 28 May, 2009 Where's Nineteen Canteen? I'd have thought he'd be on here blaming those who 'boycotted' Saints Aid by now..... A full house at the weekend and they'd have been enough to pay the (non-player) staff wages this week, I'd venture...
Bailey Posted 28 May, 2009 Posted 28 May, 2009 So, if we cannot afford to pay our players, doesn't that make them free agents?
Saint Without a Halo Posted 28 May, 2009 Posted 28 May, 2009 How so? It is not that simple is it? This is not a case of sticking them on e-bay with a "buy it now" option! The staff are assets with a value and in the same way the creditors are asking for more than the buyers are willing to pay they probably value these players at more than 500k. Also some of the deals probably are based on players remaining and as such selling them will reduce the offers. Finally why would a club buy anyone for 500k if they can get them for free in administration as all players become free agents.
trousers Posted 28 May, 2009 Posted 28 May, 2009 So, if we cannot afford to pay our players, doesn't that make them free agents? Depends if they agree to Fry's 'request' to accept a period of goodwill, I suppose. What happens if just one employee refuses to work for goodwill for the next 7 days? Administration of SFC at that point in time? (technically?)
kpturner Posted 28 May, 2009 Posted 28 May, 2009 The staff are assets with a value and in the same way the creditors are asking for more than the buyers are willing to pay they probably value these players at more than 500k. Also some of the deals probably are based on players remaining and as such selling them will reduce the offers. Finally why would a club buy anyone for 500k if they can get them for free in administration as all players become free agents.:confused: Did you quote the wrong post?
Barry the Badger Posted 28 May, 2009 Posted 28 May, 2009 Where's Nineteen Canteen? I'd have thought he'd be on here blaming those who 'boycotted' Saints Aid by now..... A full house at the weekend and they'd have been enough to pay the (non-player) staff wages this week, I'd venture... I think if people knew for certain that their money would cover the non playing staff wages and that it was definitely needed, more would have gone for saints aid/the legends game etc. I guess theres no way the club could guarentee that though.
trousers Posted 28 May, 2009 Posted 28 May, 2009 I think if people knew for certain that their money would cover the non playing staff wages and that it was definitely needed, more would have gone for saints aid/the legends game etc. I guess theres no way the club could guarentee that though. Given Southampton Football Club isn't (yet) in administration, surely the SFC board (Jones and Tointon) could have ring-fenced the money as they saw fit?
Guided Missile Posted 28 May, 2009 Posted 28 May, 2009 I am sure that the employees of SFC will be heartened to know that Fry will still get paid on time and that in all likelyhood the only director of SLH they have kept on, Dave Jones, will get a fee for showing Fry how bad the books look like....
Weston Saint Posted 28 May, 2009 Posted 28 May, 2009 I am sure that the employees of SFC will be heartened to know that Fry will still get paid on time and that in all likelyhood the only director of SLH they have kept on, Dave Jones, will get a fee for showing Fry how bad the books look like....Yep two being paid in full for failure whilst others are asked to work without pay on a promise that those who are failing day after day will sort it........NOT
The9 Posted 28 May, 2009 Posted 28 May, 2009 The staff are assets with a value and in the same way the creditors are asking for more than the buyers are willing to pay they probably value these players at more than 500k. Also some of the deals probably are based on players remaining and as such selling them will reduce the offers. Finally why would a club buy anyone for 500k if they can get them for free in administration as all players become free agents. The staff are now creditors as well, it seems.
bridge too far Posted 28 May, 2009 Posted 28 May, 2009 I am sure that the employees of SFC will be heartened to know that Fry will still get paid on time and that in all likelyhood the only director of SLH they have kept on, Dave Jones, will get a fee for showing Fry how bad the books look like.... Does Fry submit weekly / monthly invoices for 'work in progress'? Or is his invoice settled at the end when we're sold / bust? And since Dave Jones is 'staff', why would he get paid when the rest of the staff won't?
MusicMan Posted 28 May, 2009 Posted 28 May, 2009 I am sure that the employees of SFC will be heartened to know that Fry will still get paid on time and that in all likelyhood the only director of SLH they have kept on, Dave Jones, will get a fee for showing Fry how bad the books look like.... I thought it said on another thread that they were selling Jones for 20 mill.
trousers Posted 28 May, 2009 Posted 28 May, 2009 (edited) How many potential bidders has Fry actively sought and brought to the table? As opposed to those who simply came knocking on his door because they knew the club is 'up for grabs'... In other words, is Fry in 'passive' or 'active' selling mode? Edited 28 May, 2009 by trousers
Guided Missile Posted 28 May, 2009 Posted 28 May, 2009 Does Fry submit weekly / monthly invoices for 'work in progress'? Or is his invoice settled at the end when we're sold / bust? And since Dave Jones is 'staff', why would he get paid when the rest of the staff won't? Fry is a partner and will get a share of whatever profit Begbie Traynor makes together with a monthly salary, IMHO. Dave Jones is not an employee of SFC, but a Director of SLH. His contract would have been terminated and he is just one of the creditors of SLH for anything they owe him, under his contract beyond his minimum government funded redundancy package (f*** all, in other words). IMHO he will be working at an daily rate paid for by the administrator. Accountants and lawyers look after their own....
bridge too far Posted 28 May, 2009 Posted 28 May, 2009 Fry is a partner and will get a share of whatever profit Begbie Traynor makes together with a monthly salary, IMHO. Dave Jones is not an employee of SFC, but a Director of SLH. His contract would have been terminated and he is just one of the creditors of SLH for anything they owe him, under his contract beyond his minimum government funded redundancy package (f*** all, in other words). IMHO he will be working at an daily rate paid for by the administrator. Accountants and lawyers look after their own.... So, in effect, Begbies Traynor will pay Fry for the time being and then recoup his charges at the end. Rather than SLH paying him now And Begbies Traynor will also pay D Jones and, again, recoup the money at the end? Is that what you're saying?
trousers Posted 28 May, 2009 Posted 28 May, 2009 Dave Jones is not an employee of SFC But he's is a board member of Southampton Football Club Ltd. Doesn't that make him an employee of said subsidiary?
70's Mike Posted 28 May, 2009 Posted 28 May, 2009 Fry is a partner and will get a share of whatever profit Begbie Traynor makes together with a monthly salary, IMHO. Dave Jones is not an employee of SFC, but a Director of SLH. His contract would have been terminated and he is just one of the creditors of SLH for anything they owe him, under his contract beyond his minimum government funded redundancy package (f*** all, in other words). IMHO he will be working at an daily rate paid for by the administrator. Accountants and lawyers look after their own.... all very strange , who works for who? does all this mean that the only reason SFC could not sale season tickets was because they may not have a ground to play on? SFC appears to be the income generator and had all the costs bar the stadium. what a mess
Weston Super Saint Posted 28 May, 2009 Posted 28 May, 2009 Fry is a partner and will get a share of whatever profit Begbie Traynor makes together with a monthly salary, IMHO. Dave Jones is not an employee of SFC, but a Director of SLH. His contract would have been terminated and he is just one of the creditors of SLH for anything they owe him, under his contract beyond his minimum government funded redundancy package (f*** all, in other words). IMHO he will be working at an daily rate paid for by the administrator. Accountants and lawyers look after their own.... So Fry and Jones will be paid by whoever eventually buys the club. And so will the staff, so what's the problem?
bridge too far Posted 28 May, 2009 Posted 28 May, 2009 So Fry and Jones will be paid by whoever eventually buys the club. And so will the staff, so what's the problem? I guess the difference is that Fry will continue to get his monthly salary whereas the staff won't. OK they might get paid eventually but that won't help most of them right now. Jones, I would hazard a guess, could probably manage with a delayed salary.
Weston Super Saint Posted 28 May, 2009 Posted 28 May, 2009 I guess the difference is that Fry will continue to get his monthly salary whereas the staff won't. OK they might get paid eventually but that won't help most of them right now. Jones, I would hazard a guess, could probably manage with a delayed salary. So, a man who doesn't work for SFC, and has never been employed by SFC will continue to get paid by the company he DOES work for
Guided Missile Posted 28 May, 2009 Posted 28 May, 2009 So, in effect, Begbies Traynor will pay Fry for the time being and then recoup his charges at the end. Rather than SLH paying him now And Begbies Traynor will also pay D Jones and, again, recoup the money at the end? Is that what you're saying? Begbies Traynor take their money way before the end. They get theirs directly from SLH's Barclays bank account before any other creditor gets a penny. The order will be something like...Begbies Traynor, employees, HMRC, preferred creditors, ordinary creditors and then if there's any left, chuckle, chuckle, the shareholders. The end is not administration but liquidation and that may happen first, if all we've got is two Irish bullsh !tters and a lardass dreamer. I'm sure Clapham will be on soon to correct this and defend Mr. Fry. I happen to think Fry and his ilk are bottom feeders and his company will be dipping their sticky fingers deep into the buckets that the fans were working hard to fill for this very eventuality....
ALWAYS_SFC Posted 28 May, 2009 Posted 28 May, 2009 Staff not getting paid yet we can have a new web site...FFS Who gives a toss... Might as well shut it down as it just spouts ****e anyway...
bridge too far Posted 28 May, 2009 Posted 28 May, 2009 So, a man who doesn't work for SFC, and has never been employed by SFC will continue to get paid by the company he DOES work for Sorry I misunderstood your point. I thought you were implying that everyone would get paid eventually. I was pointing out that a) Fry will get paid now and b) that the staff who aren't being paid will probably find it more difficult to get by than D Jones.
Weston Super Saint Posted 28 May, 2009 Posted 28 May, 2009 Sorry I misunderstood your point. I thought you were implying that everyone would get paid eventually. I was pointing out that a) Fry will get paid now and b) that the staff who aren't being paid will probably find it more difficult to get by than D Jones. I'm sure they will. Perhaps they should write to the FA to complain, as according to them SLH and SFC are inextricably linked, so doubtless all staff will be protected by the administrator
Golac's Cunning Stunts Posted 28 May, 2009 Posted 28 May, 2009 Begbies Traynor take their money way before the end. They get theirs directly from SLH's Barclays bank account before any other creditor gets a penny. The order will be something like...Begbies Traynor, employees, HMRC, preferred creditors, ordinary creditors and then if there's any left, chuckle, chuckle, the shareholders. The end is not administration but liquidation and that may happen first, if all we've got is two Irish bullsh !tters and a lardass dreamer. I'm sure Clapham will be on soon to correct this and defend Mr. Fry. I happen to think Fry and his ilk are bottom feeders and his company will be dipping their sticky fingers deep into the buckets that the fans were working hard to fill for this very eventuality.... That's how the admin process works. Nobody is going to say "I'll sort out your mess but don't worry if you can't pay anything at the end". Not a very good model for running a business is it? The club's chairman and directors should have thought about all this long before we reached the point of no return.
Block 5 Posted 28 May, 2009 Posted 28 May, 2009 1 hour ago. Thanks for that Pancake. I shall sleep easy tonight, safe in the knowledge that our Mods are busy fiddling whilst Rome burns.
Weston Super Saint Posted 28 May, 2009 Posted 28 May, 2009 That's how the admin process works. Nobody is going to say "I'll sort out your mess but don't worry if you can't pay anything at the end". Not a very good model for running a business is it? The club's chairman and directors should have thought about all this long before we reached the point of no return. I agree. To try and blame Fry for trying to save the company rather than just say F$^k it and sell all the bits off, is bemusing to say the least!
Wopper Posted 28 May, 2009 Posted 28 May, 2009 Fry appears to be milking the situation for every penny he can.
up and away Posted 28 May, 2009 Posted 28 May, 2009 SSN just reported staff not paid and asked to continue working as a goodwill gesture. They are talking about staff here and not players. Although the staff may not view it as such, this is about the best bit of news we have had for a while!
Weston Super Saint Posted 28 May, 2009 Posted 28 May, 2009 Fry appears to be milking the situation for every penny he can. How do you know this? He's so far got rid of 26 'interested parties' and has 4 left. How is that 'milking the situation', unless of course you sign up to nickh's bluff and fluster?
exit2 Posted 28 May, 2009 Posted 28 May, 2009 I love his quote "trying to dispose of shares in a football club"
Mole Posted 28 May, 2009 Posted 28 May, 2009 Just got in from work, is there anything said in the 6 pages over and above the opening post?
bridge too far Posted 28 May, 2009 Posted 28 May, 2009 Nothing really - although South Today have just said that Fry reckons one of the bids is close to being given Preferred Bidder Status :smt102
Mole Posted 28 May, 2009 Posted 28 May, 2009 Nothing really - although South Today have just said that Fry reckons one of the bids is close to being given Preferred Bidder Status :smt102 Same sh1t different day.
Saints Warrior Posted 28 May, 2009 Posted 28 May, 2009 Club should have stopped paying the players months ago and saved that for key staff to run the club then sold the players at the end of the season. Priorities all in the wrong place. few players are due to be sold so that should go towards the staff (not players) then if we go into non leaque at least we can operate as players can be found anywhere and all the big/mid wage players will have to go anyway. What a shambles
Gingeletiss Posted 28 May, 2009 Posted 28 May, 2009 Same sh1t different day. Ah yes, but not a Friday, that is tomorrow, and I hear tell, That it is classed as a good news day.
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