derry

Excellent post, SLH could take action against the league on the grounds that it's value for sale had been damaged by the league's actions which are not in accordance with the letter of their rules. Thereby increasing the losses to creditors and shareholders.

Mawhinny is talking rubbish. A good lawyer will make mincemeat of him. The structure was formed in 1997, the league brought in the points rule for the 2004/5 season. Whatever Mawhinny says about interesting is absolute hogwash, if he doesn't know his history he certainly doesn't know his rules. 'Club in administration' is legally not 'a club intrinsically/inextricably linked to a holding company in administration' It is a breach of insolvency rules by the club that is being cited. However Grant Thornton were given a different brief by the league to the one supplied to the club by the league. The club refused to let Grant Thornton work to anything but the brief supplied to them. GT walked out and reported back to the league who then acted without consulting the club. Now that Southampton are appealing the league are squealing that it has no chance of success. Strange, I thought 'no comment, it's now sub judice until the appeal is heard' would be the league's response. That sounds like it's the their nightmare situation, got it wrong, premature, legal teams now involved. It remains to be seen whether they balls it out, using bully boy tactics, or get turned over at appeal or better still SLH go to law.

There is a mechanism for advertising available players by the PFA, or by circular to likely buyers. The club nearly weren't able to play tomorrow's game. The Dyer fee wouldnt be in for a couple of weeks. Swansea might even choose to leave Saints with him on the books paying his salary for the summer then buy him. If anyone else came in it would up the ante. In any event this was Lawrie McMenemy's suggestion that we could probably get a better price if we widened the scope.

Nobody willing to help then, only the 'I'm not going to help because of the players' brigade posting. Maybe they would carry the buckets, that wouldn't cost anything.

Fantastic, I'll stand down, it's all yours. I'm gratified to see it's in such competent hands. That's me finished, I don't need this crap.

I've done the sums regarding the value of the assets and any new owner would be bloody mad not to buy the lot including the stadium. The rent would be never ending and increasing whilst the landlord would have all the other income from the stadium. It really is a no brainer for the new owner. The stadium income would far exceed the cost of buying. In any event it would take at least two weeks to even get a council vote on the purchase and their position is a definite last resort.

It would depend what the buyer wanted to include in his purchase.

Not until the season is over would there be any fee paid over. In any event why not advertise him for sale and call Swansea's bluff.

LM and LC made the point that the administrator can't be seen to be talking down the club, which apart from being the defacto owner at the moment, he can't be seen to be involved. He is selling SLH the owners of the assets, of which the football club is financially the weakest.

To put your mind at rest, the only egos on view were the SISA four. They are impossible to work with, no discipline, bigoted, opinionated, unable to sit and listen without loud interdiction's, giving no quarter to opposing views. Nobody could do business with them. They got what they deserved and were isolated by their behaviour, their self justification is typical of their blinkered views. I just told them I'd never work with them because of their anarchistic behaviour and disrespect for others, in any event I had already agreed a joint way forward with Nick Illingsworth which brought our two groups into a joint parallel mutually supporting position before this meeting took place consequently they are not needed.

Apologies Rob I should have said the fans collectively and not you, there have been so many questions relating to players you might even call it the BWP syndrome as he is the one whose wages are continually mentioned. I've edited it.

In a word we would have to mount a specific appeal for money but the administrator/club doesn't want to bare it's soul if it can be avoided.

Maybe but that is voluntary. If the wages were withheld, the PFA would step in and pay the players. The club would then be forced into administration, which, as it couldn't be funded, would mean winding up. The sooner fans grasp the message the sooner we can do something.

If we don't pay the players we will be wound up. If every fan put in a fiver we would raise about £75,000, kids, and couples excluded. That would buy us another week. Think about it.

LC and LM talked about that, and fully understand. Forget the players they haven't a clue. It's down to the fans, keep the club going until it's bought and wave goodbye to most of this years squad and management and good riddance. We have to get over the next three weeks.

Nick, if you had seen it last night you'd be embarrassed and looking for a rock to crawl under, it was that bad.

It looks like about three weeks before the buying process could complete. It is conceivable that the final buyer could help but there isn't one yet. It is surviving to be sold is the issue, furthermore last week there were worries we didn't have enough to even stage the Burnley game. Listen people, it is that bad. You better believe it, because we have to keep the club going somehow. Crouch is keeping it going at the moment.

Firstly I think one of the problems and it is not confirmed that the bank overdraft is the clubs and the creditors are the club's The shareholdings and the assets are owned by SLH in administration. Secondly it only needs one of the creditors, say Cedar Press to run out of patience then it is winding up as there would not be enough to fund administration, whereas SLH has assets, the lodge, the farm. and staplewood. and the sale of these would fund administration.

£5600, 1 cheque for £500 , plenty of notes, about 90% contributed nothing, average about 23p a seat. Pretty apathetic, don't you think?

While you were going off half ****ed I was writing the report. Now you've seen the report how much cash are you going to put in?

In some respects some good things came out of the meeting, as far as SISA were concerned for so-called political activists they displayed a complete lack of political skills and were unaware of the fact that they had been politically sidelined before the meeting. Their loud voices and constant interruptions displayed for all to see their unsuitability to have any connection with an initiative. So much so when they were looking for unity for them to lead an initiative I'd really heard enough. I gave them both barrels. I told them that I wouldn't dream of supporting them,we didn't need them and would be carrying on without them and already had a £m in pledges which shut them up for long enough to finish, I'd never meet with them again, the meeting was a disgrace, there was no structure. the chairman McMillan didn't have a clue and their behaviour was anarchistic. I then smiled sweetly shook hands with a few, got a lot of knowing looks and left. I had heard from many that SISA were a busted flush and they confirmed that. The meeting! Chorley spoke for about 50 mins and said nothing that couldn't have been said in 2. By the end of that they had lost everybody. Alan Whitehead spoke well, and was focused, in a nutshell bidding for the club wasn't on, it was keeping the club going until a buyer took over was the issue. Leon Crouch was visibly upset and looked desperately worried. He was followed by Lawrie McMenemy they both said essentially the same thing and made their points quietly, informatively and with obvious concern. They said how desperate things were unless £250,000 was put into SFC over the next three weeks it would go under. That the whole focus should be on fundraising now not something that may never happen. Mary Corbett, again made a very telling point that the finances of the football club were so bad it would be winding up not administration that would happen. That it was only the support of the creditors that was preventing that happening. The two councillors were practical and brief, fund raising ideas were floated, the subject of the council buying the ground as a last resort was discussed. Tickets for the legends v celebrities match on Sunday May 17th are going on sale on Monday early purchase would be of immense help. The early launch of season tickets was raised but there is a liability if tickets are sold for next season knowing the club is in difficulties could leave the promoters personally responsible. There is going to be a bucket collection on Saturday, I thought that passing the buckets along the rows would raise more money rather than less than 10% putting in as happened last time. That's about it, from our point of view until the buyout is sealed we should continue with the backup initiative. The proposal at the moment is to work in parallel with Nick Illingsworth and the trust, they will publish the website address and support pledging in the press, we will look to use the trust to manage and contain any subsequent monetary appeal if necessary at the same time revamping and relaunching the trust.

The bare bones of the meeting was in my previous posts, Mark is being sensible having seen how new posters are treated.

Steve, there is no administration, I am told the club would have to be wound up, it's that serious.

It came from LC and LM but it was Mary Corbett who made the most telling comment. I gave a list of those present.