trousers

Adam Blackmore is correct... We've always taken out a loan around this time of year and put the club's assets up as security. Indeed, the opening paragraph in my opening post highlighted that this annual practice was business as usual. The main thrust of my OP was to highlight the differences between this year and previous years, namely that we appear to have switched from using a bank to 'financial intermediaries' and also that we appear to have put up more assets than usual, i.e. the intellectual property. I also then subsequently highlighted another difference to previous years, in that the agreement signed with MSD is a "debenture" rather than a "deed". It's never been called a debenture before. I've no idea if that is just semantics or not, but all I'm doing is highlighting what I perceive to be differences. I still think this is a reasonable series of questions to ponder upon: - why did we switch lender types (from a bank to an intermediary organisation)? - why did we seemingly have to put up more security than usual this time? - is the use of the "debenture," terminology significant when this hasn't been the case previously? I'm sure there's a completely routine and innocuous answer to all 3 of these questions but I still think it's valid to observe any differences to previous years and ponder on why they've chosen to do things differently this year. Of course, it could be as simple as it being a more cost effective approach, but who knows?

Good to see Pompey recreating the crowd scene when they played Wigan away a few seasons back

Plagiarism rules ok

Good to see local journos have mastered copying and pasting from Saintsweb threads...

Given they're all related to each other the chances were quite high to be fair

Not sure why that was a penalty... Looks like he got the ball to me...

Yep, agree that's the easiest route to a profit. I was just pondering what eventuality would give them maximum returns.

Isn't the scenario where they'd make most money is if Saints were to do badly (on and off the pitch) and end up defaulting on the loan? That way the investor gets all the club's assets for way less than they are worth?

Yep... https://www.dailymail.co.uk/sport/football/article-7513265/Peter-Kenyon-tried-Sunderland-buyers-Newcastle-deal.html

Hmmm....

He looks quite friendly.... https://www.msdpartners.com/people?id=841&dept_id=86&bioname=Marcello Liguori Struggling to get a close up of the earlobes though....

The Debenture/Charge is signed my Marcello Liguori (of MSD UK Holdings Ltd) but his address is given as MSD Partners, L.P. in New York, USA.... Marcello L. is also listed as a director on the newly formed UK arm of the company.... So, looks like they are "Financial Intermediatories" rather than the actual lenders.... Adding 2 + 2 to get 5.... does this suggest we're being financed out of the USA now....?

I also note that this year's charge is explicity labelled as a "Debenture" whereas previous charges have just been refered to as a "Deed"... a quick Google search suggests that Debentures usually last at least 10 years.... so, reading between the lines, maybe this is a way of securing more upfront funds than is usually possible in a bog standard annual 'charge'....? (dunno.... all gobbledegook to me....)

Same here. All very slow too

Just signed a new 3 year deal https://www.southamptonfc.com/news/2020-07-02/nathan-tella-contract-extension-southampton-football-club-2-july-2020

I see that the annual 'Satisfaction of Charge' and 'Registration of Charge' procedure has just taken place, as it always does around this time of year.... https://beta.companieshouse.gov.uk/company/00053301/filing-history A couple of diferences I can see from previous years though: - The lender is no longer MacQuarie Bank but MSD UK Holdings Ltd - The new charge documentation now includes Intellectual Property, i.e. trademarks such as the club badge and phrases such as "The Southampton Way", "We March On" and "The Saints" (!) I don't recall seeing the charge documents going down to that level of detail and inclusion before (they usually just refer to the more tangible assets such as the stadium and training ground) Not sure if there's anything to be read into this but thought I'd mention it in passing (any ITK financiers out there?!)

Can't find any Nobbings but there's a Nob End (near 'Little Lever' as it happens....) if that's any good?

I take it back... my memory was indeed rubbish....! It was a "WTF?" moment....

My memory is possibly playing tricks on me but wasn't there two factors in play around the time his contract was extended? Firstly, hadn't he been in good form leading up to the extension? Secondly, I seem to recall around that period that fans were often agitated at how long we typically waited to tie players down to a contract extension. I'm not saying the scale of the extension (both in terms of value and duration) wasn't taking things too far towards the opposite end of the scale, but I don't think the backdrop and context to the extension was as "what the f***?" as people are making out retrospectively? As I say, I could be mis-remembering events but there again.... (I guess digging out the forum thread at the time will be informative)

Rudi Skacel

Cock

Marvelous

FFS P.s. has the forum started running slow?

Bugger