the saint in winchester Posted 9 June, 2009 Posted 9 June, 2009 Fry gave them a deadline of 21days, so dont expect any news untill 20 days, 23 hours & 59 minutes have passed Can you remind us when the 21 day period expires? Then we should get an announcement of completion or ETA.
FloridaMarlin Posted 9 June, 2009 Posted 9 June, 2009 Can you remind us when the 21 day period expires? Then we should get an announcement of completion or ETA. Are we being bought out by Basque Separatists?
Pancake Posted 9 June, 2009 Posted 9 June, 2009 Can you remind us when the 21 day period expires? Then we should get an announcement of completion or ETA. 19th June IIRC.
Toadhall Saint Posted 9 June, 2009 Posted 9 June, 2009 What I was meaning to say Toadhall was that when you're buying a company in administration you must be expecting to find a fair amount of crap swept under the carpet. If the affair was brilliantly run then you wouldn't be getting a 32 million 8 year old stadium ,a football team not long ago in the premier League,a training ground,some odds on sods of real estate and a bargain basement bank overdraft of only 4 million £ for a measly 15 million (or whatever) The affair has obviously been badly run and you're going to find something nasty in the woodshed ,you don't need to look at 200 or so individual contracts of employment to know that. It's time wasting, why ? who knows I certainly don't.If it was now May 9th and not June 9th it wouldn't matter so much but the pre-season is almost upon us and if the Pinnacle group are serious about getting it together and doing exciting things then I think it wouldnt do them any harm to turn up the turbo a bit and get the f*ck on with it.Anything is possible if you have the means at your disposal. So what your saying is that Pinnacle (for whatever reason) are dragging their feet? But you seem to be basing your comments on a house transaction - which IMHO is no where near comparable. If its a case of chucking money (assuming thats what you mean by "means") at it then why are that lot down the road no further with theirs? Afterall they have a buyer with Billions.
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 I find the house analogy a frightful over-simplification. Pinnacle were in discussion for weeks in advance of the exclusivity announcement, proving funds, for example. We also led to believe the price was agreed before the exclusivity announcement. So we are being led to believe that the 21 days are just about preparing legal documents. That seems like b*ll**ks to me...
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 You don't have a clue alps. Never have, never will. Yawn.... And it's alpine to you. Preferably Mr. Alpine.
once_bitterne Posted 9 June, 2009 Posted 9 June, 2009 Yawn.... And it's alpine to you. Preferably Mr. Alpine. Do you ever feel you might be a manic depresive? I feel for your kids. If they come home as pleased as punch after getting 98% in a school exam no doubt you would go into pains of anguish about the lost 2% and how the poor child will be destined to spend their adult lives living in a cardboard box in a bus station..... I think you should try and smile a bit more Mr 'Glass One Tenth Empty'.
Pancake Posted 9 June, 2009 Posted 9 June, 2009 I find the house analogy a frightful over-simplification. Pinnacle were in discussion for weeks in advance of the exclusivity announcement, proving funds, for example. We also led to believe the price was agreed before the exclusivity announcement. So we are being led to believe that the 21 days are just about preparing legal documents. That seems like b*ll**ks to me... You find the "buying a house" analogy, a process that can take up to 6 months, an over-simplification yet want the sale of SFC (et al) to be conducted quicker? Show me how that works again?
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 You find the "buying a house" analogy, a process that can take up to 6 months, an over-simplification yet want the sale of SFC (et al) to be conducted quicker? Show me how that works again? Alpine and I bioth have the advantage of living in continental europe where anything is possible if you: a )have the money to pay for what you want done quickly done b) know where to apply a good arse kicking to move things into overdrive.Across the channel it's straightforward, if something isn't happening very fast it's because it's being deliberately slowed down or you don't need for it to be done fast.
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 If its a case of chucking money (assuming thats what you mean by "means") at it then why are that lot down the road no further with theirs? Afterall they have a buyer with Billions. I'd say Mr X may be trying to get the job done as cheaply as possible yes, I am not inspired by Pinnacle or MLT for that matter. At Portsmouth it's different, they have a structure in place,they can hire and fire (no doubt running it by the incoming team first),they can pay their salaries,they have some sort of manager in place,in brief there's time for it to happen down there.In another 15 days or so our salaries will be due again, who's going to pay them this time if Pinnacle don't come through?
NickG Posted 9 June, 2009 Posted 9 June, 2009 I find the house analogy a frightful over-simplification. Pinnacle were in discussion for weeks in advance of the exclusivity announcement, proving funds, for example. We also led to believe the price was agreed before the exclusivity announcement. So we are being led to believe that the 21 days are just about preparing legal documents. That seems like b*ll**ks to me... I know you enjoy slagging off everyone and everything to do with the club we support, but you have surpassed yourself calling our new board member a liar even before its completed!
bungle Posted 9 June, 2009 Posted 9 June, 2009 Yawn.... And it's alpine to you. Preferably Mr. Alpine. Pipe down young 'un.
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 You find the "buying a house" analogy, a process that can take up to 6 months, an over-simplification yet want the sale of SFC (et al) to be conducted quicker? Show me how that works again? Rubbish. Utter rubbish. When a house is being sold it is being dealt with by conveyancing solicitors with piles of files on their desks. Searches are required that are also queued up for miles. This is a coporate purchase. It is a totally different legal framework being dealt with by totally different lawyers with totally different priorities AND work loads. And for those of you using this pathetic analogy, I suggest you try buying a house at the moment against a backdrop of a massively depressed housing market and see how much faster it is happening now compared to what your perceptions of a couple of years ago are...
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 I know you enjoy slagging off everyone and everything to do with the club we support, but you have surpassed yourself calling our new board member a liar even before its completed! Wow, another typcial lunatic jump in logic by NickG. How unusal. I havent called anyone a liar. And the last update we had from TL was nearly a week ago. How do you know it isnt going tittus verticus this week ?
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 Rubbish. Utter rubbish. When a house is being sold it is being dealt with by conveyancing solicitors with piles of files on their desks. Searches are required that are also queued up for miles. This is a coporate purchase. It is a totally different legal framework being dealt with by totally different lawyers with totally different priorities AND work loads. And for those of you using this pathetic analogy, I suggest you try buying a house at the moment against a backdrop of a massively depressed housing market and see how much faster it is happening now compared to what your perceptions of a couple of years ago are... Anyway, what slows down house purchase usually is credit. If the owner(or his decendants) want to sell and you want to buy,provided you can find a solicitor or notaire with enough time or zip to get on with the job it can be done very very quickly, provided there's no credit involved.
NickG Posted 9 June, 2009 Posted 9 June, 2009 I find the house analogy a frightful over-simplification. Pinnacle were in discussion for weeks in advance of the exclusivity announcement, proving funds, for example. We also led to believe the price was agreed before the exclusivity announcement. So we are being led to believe that the 21 days are just about preparing legal documents. That seems like b*ll**ks to me... hth
NickG Posted 9 June, 2009 Posted 9 June, 2009 Wow, another typcial lunatic jump in logic by NickG. How unusal. I havent called anyone a liar. And the last update we had from TL was nearly a week ago. How do you know it isnt going tittus verticus this week ? I don't know that it hasn't gone tits up, I have heard what Tony L has said, and unlike you haven't written him off as a bullsh1tter. Don't see how that is a lunatic jump in logic - nor typical???
Toadhall Saint Posted 9 June, 2009 Posted 9 June, 2009 Wow, another typcial lunatic jump in logic by NickG. How unusal. I havent called anyone a liar. And the last update we had from TL was nearly a week ago. How do you know it isnt going tittus verticus this week ? http://www.saintsweb.co.uk/forum/showthread.php?p=321974#post321974 About 3 days ago.
NickG Posted 9 June, 2009 Posted 9 June, 2009 he must have been bullsh1tting all along, as alpine said, it obviously isn't for legal processes etc. Lynam out he is has lied to us - alpine says so.
Pancake Posted 9 June, 2009 Posted 9 June, 2009 Just because the period of exclusivity is 21 days, does it HAVE TO take 21 days ??? I really wonder about the procrastinating in British commerce sometimes... Just like buying a property etc. In the end 21 days might not be enough for the lawyers especially with at least three properties and a number of trading companies. I'll just be happy to see it happen in the end. It certainly makes it easier by not coming on here so much. I find the house analogy a frightful over-simplification. Pinnacle were in discussion for weeks in advance of the exclusivity announcement, proving funds, for example. We also led to believe the price was agreed before the exclusivity announcement. So we are being led to believe that the 21 days are just about preparing legal documents. That seems like b*ll**ks to me... You find the "buying a house" analogy, a process that can take up to 6 months, an over-simplification yet want the sale of SFC (et al) to be conducted quicker? Show me how that works again? Rubbish. Utter rubbish. When a house is being sold it is being dealt with by conveyancing solicitors with piles of files on their desks. Searches are required that are also queued up for miles. This is a coporate purchase. It is a totally different legal framework being dealt with by totally different lawyers with totally different priorities AND work loads. And for those of you using this pathetic analogy, I suggest you try buying a house at the moment against a backdrop of a massively depressed housing market and see how much faster it is happening now compared to what your perceptions of a couple of years ago are... What? I mean seriously... what? You really do not in the real world at all, do you? Buying a house in the present climate might well be quicker than it was a few years back; but I would wager that the majority take longer than 21 days. Now, extrapolate that out to buying a business and property at the same time; that is a bigger kettle of fish than buying a house (which we assume takes longer than 21 days on average); and yet you still expect to see movement on the sale of SFC, SMS, Staplewood, Jacksons Farm, Players, non-playing staff, commercials etc all in under 21 days? And I'M talking "utter rubbish". **** me blind.
Fowllyd Posted 9 June, 2009 Posted 9 June, 2009 Rubbish. Utter rubbish. When a house is being sold it is being dealt with by conveyancing solicitors with piles of files on their desks. Searches are required that are also queued up for miles. This is a coporate purchase. It is a totally different legal framework being dealt with by totally different lawyers with totally different priorities AND work loads. And for those of you using this pathetic analogy, I suggest you try buying a house at the moment against a backdrop of a massively depressed housing market and see how much faster it is happening now compared to what your perceptions of a couple of years ago are... I think you'll find that the lawyers dealing with this transaction (on both sides - DLA are acting for Begbies Traynor, no idea who's acting for Pinnacle) will have more than just this one piece of work going on. They will have piles of files on their desks, their office floors - all over the shop. It's how law firms work. In any complex legal transaction there are always lulls and periods of manic activity. Generally, from what I've seen of these things (I've worked as an IT manager for a few large London law firms in the past) the great bulk of the manic activity occurs as the deadline approaches. Incidentally, lawyers charge for hours worked on a particular matter, not on how long in days it actually takes to complete. The more hours they have to put in the more they'll charge, but it's a massive over-simplification to assume that a process which takes 20 days will cost twice as much as one which takes half that.
Saint 76er Posted 9 June, 2009 Posted 9 June, 2009 OS says Megastore/WestQuay closed tomorrow for stocktakes. It just says summer is a good time to do these. However, it is more likely this is a further process requirement for the takeover and may indicate they are nearing finalisation as any retail buy out would require a stocktake for the new owner and logic suggests as near as possible to the actual day of settlement....
INFLUENCED.COM Posted 9 June, 2009 Posted 9 June, 2009 you still expect to see movement on the sale of SFC, SMS, Staplewood, Jacksons Farm, Players, non-playing staff, commercials etc all in under 21 days? I think part of the problem is that this has all been played out in public, commencement of other takeovers or the like happen behind the scenes many months before the average Joe is aware, factor in anxiety, factor in rumour of it all falling on its arse and all of a sudden 3 weeks seems like a lifetime, however, when the obvious is pointed out we must concede it aint that long really, is it ?
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 hth No it doesnt, but then the subtlety is obviously wasted on you. Maybe thats what all parties thought, but it being our beloved club, it simply hasnt turned out that way.
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 What? I mean seriously... what? You really do not in the real world at all, do you? Buying a house in the present climate might well be quicker than it was a few years back; but I would wager that the majority take longer than 21 days. Now, extrapolate that out to buying a business and property at the same time; that is a bigger kettle of fish than buying a house (which we assume takes longer than 21 days on average); and yet you still expect to see movement on the sale of SFC, SMS, Staplewood, Jacksons Farm, Players, non-playing staff, commercials etc all in under 21 days? And I'M talking "utter rubbish". **** me blind. Yep. You are talking utter rubbish. Pinnacle have been talking to Fry for AT LEAST a month prior to that. Btw, if we extrapolate your "complexity greater than a house sale" argument, this means we are unlikely to be able to start this season, if you think about it, since the sale wont be completed in time, and probably the club will go into admin as well.
Torres Posted 9 June, 2009 Posted 9 June, 2009 Wow, another typcial lunatic jump in logic by NickG. How unusal. I havent called anyone a liar. And the last update we had from TL was nearly a week ago. How do you know it isnt going tittus verticus this week ? Well that's bad news - the hotline between Pinnacle and Alpine_Saint has failed already. Quick everyone, let's get those "Pinnacle Out" banners made up...
Saint Bones Posted 9 June, 2009 Posted 9 June, 2009 Just a side note. If/once this deal is done, we will not be able to complain about club transperacy and Fans must know. I imagine ( and willing to be corrected ) the new owner can disclose to the fans what ever he/she choses ?.
eurosaint Posted 9 June, 2009 Posted 9 June, 2009 Alpine and I bioth have the advantage of living in continental europe where anything is possible if you: a )have the money to pay for what you want done quickly done b) know where to apply a good arse kicking to move things into overdrive.Across the channel it's straightforward, if something isn't happening very fast it's because it's being deliberately slowed down or you don't need for it to be done fast. I have lived and worked in a number of European countries and beg to differ totally !! For example, Belgian law is about the slowest you could ever imagine, the French are intentionally obstructive, the Germans are pedantic in the extreme and the Eastern bloc is still corrupt ! I won't even mention the Swiss if bureaucracy frustrates you ! I don't know where you live but if the legal system is smoother than UK then you are very, very lucky !!
Torres Posted 9 June, 2009 Posted 9 June, 2009 Yep. You are talking utter rubbish. Pinnacle have been talking to Fry for AT LEAST a month prior to that. Btw, if we extrapolate your "complexity greater than a house sale" argument, this means we are unlikely to be able to start this season, if you think about it, since the sale wont be completed in time, and probably the club will go into admin as well. And of course, Pinnacle were given full access to every facet of SLH's operations during that time. Honestly, why don't you stop and think before posting? It might just stop you appearing to be a bit of an idiot.
the stain Posted 9 June, 2009 Posted 9 June, 2009 why does everything related to our club have to reach the highest levels of circus performance ??? If I went to the circus and was presented with nothing happening for 21 days, I'd have got considerable value for money in terms of duration but I'd probably feel cheated of the 'highest levels of performance'. Face it man, you're just bored and frustrated and having a bit of a whinge. No need to feel ashamed about it, but also no need to keep lashing out at people for pointing it out. Nothing's happening. Why not take up knitting while you're waiting?
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 And of course, Pinnacle were given full access to every facet of SLH's operations during that time. Honestly, why don't you stop and think before posting? It might just stop you appearing to be a bit of an idiot. Wassa madda,need two bites of the cherry today ???
alpine_saint Posted 9 June, 2009 Author Posted 9 June, 2009 If I went to the circus and was presented with nothing happening for 21 days, I'd have got considerable value for money in terms of duration but I'd probably feel cheated of the 'highest levels of performance'. Face it man, you're just bored and frustrated and having a bit of a whinge. No need to feel ashamed about it, but also no need to keep lashing out at people for pointing it out. Nothing's happening. Why not take up knitting while you're waiting? Who have I lashed out at without provocation, exactly ? I expressed my frustration (which I am sure others share) on here, and got roundly abused for it..How do you expect me to react ?
the stain Posted 9 June, 2009 Posted 9 June, 2009 Who have I lashed out at without provocation, exactly ? I expressed my frustration (which I am sure others share) on here, and got roundly abused for it..How do you expect me to react ? You got a few jibes and rose to them. Be the bigger man. And I'm serious about the knitting; it's really therapeutic.
1976_Child Posted 9 June, 2009 Posted 9 June, 2009 Are we being bought out by Basque Separatists? LOL! funny!
1976_Child Posted 9 June, 2009 Posted 9 June, 2009 I reckon the reason Pinnacle is taking such a ball-achingly long time to do the deal is because Lowe is still trying to get the dosh together. Come on, we have all accepted that Pinnacle is actually Rupert haven't we?
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 I reckon the reason Pinnacle is taking such a ball-achingly long time to do the deal is because Lowe is still trying to get the dosh together. Come on, we have all accepted that Pinnacle is actually Rupert haven't we? I trust you jest sir.
Toadhall Saint Posted 9 June, 2009 Posted 9 June, 2009 I reckon the reason Pinnacle is taking such a ball-achingly long time to do the deal is because Lowe is still trying to get the dosh together. Come on, we have all accepted that Pinnacle is actually Rupert haven't we? Mods - Can we put these two words on the swear filter please?
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 Mods - Can we put these two words on the swear filter please? Anyway it's best not to use them at all, Saint Richmond will be on any second with a 'I told you all so" soliloquy to rival anything from Hamlet or Macbeth
suewhistle Posted 9 June, 2009 Posted 9 June, 2009 I have lived and worked in a number of European countries and beg to differ totally !! For example, Belgian law is about the slowest you could ever imagine, the French are intentionally obstructive, the Germans are pedantic in the extreme and the Eastern bloc is still corrupt ! I won't even mention the Swiss if bureaucracy frustrates you ! I don't know where you live but if the legal system is smoother than UK then you are very, very lucky !! Add Italy to your list, Eurosaint!
1976_Child Posted 9 June, 2009 Posted 9 June, 2009 I trust you jest sir. It's no laughing matter. Until we know who the mysterious buyer actually is I will continue waking up in the small hours, dripping in sweat with visions of a press conference being held announcing the new owner... and Lowe strutting arrogantly onto the stage. Actually, it makes me very nervous. It could very well be him. God, I hope not. Please Moses, Abraham, Jesus, Mohammed, Buddha and all the Jedi Knights, let it not be Lowe.
Toadhall Saint Posted 9 June, 2009 Posted 9 June, 2009 Anyway it's best not to use them at all, Saint Richmond will be on any second with a 'I told you all so" soliloquy to rival anything from Hamlet or Macbeth I don't use them. The day he melted into the past he became a non entity in my book.
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 It's no laughing matter. Until we know who the mysterious buyer actually is I will continue waking up in the small hours, dripping in sweat with visions of a press conference being held announcing the new owner... and Lowe strutting arrogantly onto the stage. Actually, it makes me very nervous. It could very well be him. God, I hope not. Please Moses, Abraham, Jesus, Mohammed, Buddha and all the Jedi Knights, let it not be Lowe. Surely it can't haunt you that much, why would he choose Pinnacle? knowing that MLT is a friend of Lynam to get "god on his side"? I really do doubt it. I don't care who it is as long as it's one man,not a hotch potch of self made, autodictact millionaires who know nothing about the outside world except how to sell tackyboard houses to starving peasants on the never never.Bloke could have robbed stagecoaches,banks or swindled the money out of some banana republic for all I care. The fact that he's giving it to us makes him Robin Hood in my eye.
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 Add Italy to your list, Eurosaint! It really does depend on how you go about it Sue and Euro. If they think they're dealing with a foreigner they play you for every cent they can get. If they think they're dealing with someone who can really cause them grief then they are usually most obliging. Got my latest speeding ticket dropped at the prefecture only yesterday,questioned the exact angle of the radar in the vehicle, they couldn't prove that it was exactly at 22 degrees so they had no case.
1976_Child Posted 9 June, 2009 Posted 9 June, 2009 What happened to the Iranians? too busy enriching uranium and ****ing off the Israelis.
JonnyLove Posted 9 June, 2009 Posted 9 June, 2009 According to the mighty Wikipedia southampton Leisure holdings own the following companies. * Southampton Football Club Ltd * St. Mary's Stadium Ltd * St. Mary's SPV Ltd * Southampton Insurance Services Ltd * Southampton Mortgage & Financial Centre Ltd * Saints Supporters Club Ltd * Southampton Swaylife Ltd * Secure Retirement Ltd * Dell Estates Ltd * St Michael's Street Homes (No. 1) Ltd * Stadium 2000 Ltd * Felix Broadcasting Ltd * South City FM Ltd * Forest FM Ltd What I would like to know is which ones it still does own and also what do each of them represent.
Killers Knee Posted 9 June, 2009 Posted 9 June, 2009 Usually about 3 weeks before a purchase of a football club completes the purchasers bank is notified and the cat is out the bag on who is the purchaser, how much they're paying and how the deal is structured. Some deals are settled out here where breaching bank privacy laws can get you 10 years porridge, but we still all get to know who's doing what and when. Problem with Saints is there isn't the slightest rumour on who is facilitating the purchase coming from any institution at the moment, unless its Northam Post Office where I don't have any contacts. Seriously, the big players/usual suspects ain't involved.
Window Cleaner Posted 9 June, 2009 Posted 9 June, 2009 According to the mighty Wikipedia southampton Leisure holdings own the following companies. * Southampton Football Club Ltd * St. Mary's Stadium Ltd * St. Mary's SPV Ltd * Southampton Insurance Services Ltd * Southampton Mortgage & Financial Centre Ltd * Saints Supporters Club Ltd * Southampton Swaylife Ltd * Secure Retirement Ltd * Dell Estates Ltd * St Michael's Street Homes (No. 1) Ltd * Stadium 2000 Ltd * Felix Broadcasting Ltd * South City FM Ltd * Forest FM Ltd What I would like to know is which ones it still does own and also what do each of them represent. It's a very out of date list.
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