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Posts
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Everything posted by derry
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I wish you success. The problem you have is the probable liquidation of SFC next Friday if there is no buyer. You will probably need £500k at least up front on Friday if we aren't bought. I suggest you contact Anthony Salz if you haven't done so, you will need all the help you can get. Best of luck.
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'Possible' but now unlikely. I don't know about Marc Jackson but the evidence is stacking up against Pinnacle. It's the fact that we the fans don't have the time now to save something if we are not bought next week. FFS the administrator obviously thinks they aren't going to buy us.
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All we have got from the two parties was that they had the money and could definitely buy the club. I accept that the deal offered by Jackson was staged payments and sidelined by Fry. However he has changed backers since then and that doesn't look credible to me. The Pinnacle bid looks dead in the water. I was told last week that Pinnacle were looking to get out but I didn't want to believe it. I was told that the Swiss were worth more than a billion and much more credible, but that means nothing unless they do buy us. Yesterday the BBC called me and asked whether there was any chance we would resurrect the appeal. I now know why. No wonder he sounded disapointed when I told him there was no hope, as there was no time as the money had run out.
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It's not the wealthy people that are the problem. It's the one's that aren't wealthy and rely on finding a third party to pay that are. There are a lot of people who work for SFC who aren't being paid. Yet last week two groups made statements that they could pay and backtracked. It's them I feel for.
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What bit don't you buy? The picture is becoming clear, it isn't going to happen. The fact still remains that we might have saved something. The reality is that unless the deal is done next week nothing will be saved. The result of all the talking by all the parties is no sale.
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Whatever chance there was of putting together a realistic rescue and keeping the club going in the league, has been scuppered by the groups who were gambling on maybe getting somebody to ante up the money. As far as the Pinnacle bid is concerned the administrator has come out and said that the reason for not going ahead, is not a good enough reason not to complete. Marc Jackson and Tony Lynham between them have used up the three months that money could have been raised to keep us going. Whilst the council could still buy the stadium unless a third party (possibly the Swiss) complete next week the club itself is a goner. Either those two groups now just bugger off and admit they were just chancers or shut up and buy the club. Alternatively pool the mythical resources which won't happen. I am now of the opinion that the Swiss are the last chance saloon. If they don't come good then that's it I'm afraid, as we no longer have the time to mount a rescue.
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Be cheaper to buy Salisbury or Eastleigh and move to St Mary's. The Stadium could be self sustaining with concerts,corporate facilities etc.
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There is a way for the Swiss to speed things up. Take over from Pinnacle, by initially joining up, completing, then Pinnacle walk. Leaving the Swiss in charge. That's of course if as alleged the funds are not available.
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Solent rang me yesterday about something else. I had a chat and the person I spoke to was of the opinion that the Swiss were a better bet. If they do come in they can hardly claim that the league is holding things up as they are fully aware of the situation. The upside is great if they do and the people will be paid, the downside is 'what a farce of a close season', and it still doesn't mean we will be sold.
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That's if he knew. Marc Jackson changed backers allegedly from an equity fund to middle eastern finance after missing out on exclusivity.
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A bank statement is proof of funds. It doesn't mean the money is available and going to be spent, it just means somebody has got it. I'm relaxed about it. The Coventry,MU, Liverpool, and MC etc takeovers were a bit of an on/off circus. The problem of backup, the Swiss company from the little we know allegedly tick all the boxes, but do they. Somebody is going to have to do something fairly quickly otherwise this could turn to rat dung in a trice. I'm getting on with life and keeping an eye on things, nothing has really changed in weeks. Hampshire have a massive game tonight though.
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Relaxed, play golf most days.
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So what brought that on. Unveiled himself with no deal done. Sounds like a football enthusiast though.
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It was the structure demanded by the football authorities when we became owned by a public company in 1997 as a result of the reverse takeover.
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You can bet your bottom dollar that once the league's answer to the legal issue is known, the backer and his legal advisers will look at it and make the decision.
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You're up early, No golf? what time are you, BST -7 or -6?
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There would be no reason to argue that if he wasn't still contesting the club's position.
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I think you may be right. It depends on the Swiss accepting a warts and all licence. Pinnacle probably about now are trying to get their backer to accept this. If I was as rich as they make out I'd either forget it unless I was keen, then I'd sign up as SFC, buy and keep SLH going out of administration complete with CVA and take them to the high court anyway.
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Except the legal advice is saying the league has punished the wrong company because it is not in administration in the eyes of the law. The lawyers on all sides are handling this one.
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The league were taking legal advice today, I would think that is what is holding things up now, as Pinnacle are awaiting the outcome.
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Pinnacle wouldn't get the addressee wrong, it is Lord Mawhinney.
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Pm Steve Grant Bill, (copy me his answer). The clause if it's the same as another one from the FA forbids legal action. Can you voluntarily sign away all rights in a disclaimer? I would think it is common in as much as all league clubs will have done it, but not have the situation and the public company in administration that we have. SFC probably had this clause in their licence before it was rescinded.
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It is probably the catch all clause that not only doesn't allow an appeal but also doesn't allow any appeal to an outside body including the law and I bet the illegal bit is to preclude any legal action.
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Marc Jackson was browsing through the site yesterday evening but didn't post.
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I haven't a clue. It was just an opinion from somebody who could know and my reading of the Swiss tight lipped approach. I think you are warm, I'm not sure it has much to do with football at all. It looks a no brainer at the price, with a £50m stadium that is self sustaining, a training ground, 41 acres of potential development land, a property in Hill Lane, and a football club with potential ground filling ability if successful. If they have a long view, with promotion, just look at Burnley/Hull/Stoke for example, they would moore than get their money back without spending silly money with a good manager.
