derry

Not allowed due liability if selling something and not able to deliver,

The club really is in a desperate state. If anyone wants to help from 1pm, Lawrie is trying to get some ex saints helping, as many as possible if you are able. Email, Nick Illingsworth, he will be delighted if you do. at soton24@hotmail.com

Let me say now both Leon Crouch, who is doing more than everybody else put together to keep the club going, and Lawrie McMenemy are desperate. They had to be to sit through the crap tonight. If funds aren't raised we won't be going into administration, we will be wound up.

Nick, If I hadn't seen it with my own eyes I wouldn't have believed it. The meeting LM, MC, LC, Alan Whitehead (sensible), two councillors(sensible) Nick Illingsworth and another from the trust both sensible, Lee Marchant and Simon Richards from the Saints Aid, our group and SISA 4, The meeting itself was an absolute disgrace, however we learnt that the club has days to live and needs to raise £250,000 if is still going to be there in three weeks time. It is a basket case and needs to be kept going until one of the two buyers who are now in due diligence plus one more yet to show proof of funds. I wouldn't go to another meeting with any of the SISA group. I couldn't begin to describe it and if I tried you wouldn't believe me. I think the remainder will pull away and just leave them to rant amongst themselves. Your last remark is a leg pull, please tell me it is? If it isn't I'll arrange to have you sectioned in the morning.

In that case you'd better let Mark Fry know because as of ten minutes ago he said they were considering their position to a direct question about legal action and the lawyers were looking at it as we speak.

Firstly it's not over yet. Last week Grant Thornton appointed by the league to investigate had a brief from the league, when they proceeded to exceed that brief the club refused them access. GT then walked out and without further ado submitted a report on which the league has acted. The administrator says that the league's actions are not in accordance with their rules. The club is considering it's position with it's lawyers and I'm expecting SFC to appeal and/or SLH fire a legal shot across the league's bow. This is likely to run and run.

I've just heard the administrator, there was an argument last week between Grant Thornton and SFC because GT was exceeding it's brief from the league. GT then walked out and submitted their report, that caused the the league's reaction. The message I'm getting from listening to Mark Fry, as the lawyers are looking at it in view of the fact the league are making it up as they go along, fur is about to fly.

Thanks Frank, It's easy to expel hot air with the help of a keyboard. My view, I really couldn't care less about the criticism. I'm doing what I'm doing. If people start to hack me off I'll leave them to it and go and play golf.

This could run and run, the league's rules don't cover this and they are making policy up on the hoof. The club will appeal. the SLH may sue them if that doesn't work. The club could also now decide to go into administration to make them more attractive and sod the league and exit with a CVA and new owners with more money to spend.

Non executive board, employ specialists and let them manage, no executive chairman. majority 2, quorum 5, board 7. No interference. Anyway like I said no influence no deal, it won't happen anyway.

The league have deducted 10 points as they say SLH have no income except the football club. If we get out of trouble - this season, if relegated next season. Now let's see if the administrator has the balls to sue.

Pretty much what he told me yesterday. My answer to his question, any bid that would otherwise fail without assistance, gives an opportunity to ringfence and get a big slice of the influence. No influence - no deal. Influence means a large proportion of the board members. If the bidder couldn't stomach that it would be the end of their bid.

Bit late now Frank, they could have auctioned the seats, tidy sum there I reckon.

That's the thing, I have been told in confidence where we are and I'm doing my best to keep you informed without breaking confidence. It seems nobody can read and understand any more.

Their proposals are rediculous. There is not a hope in hell of them putting together a bid. The public for one just won't buy it. The only way the public MIGHT contribute on mass, is a final last ditch attempt to rescue the club all other avenues having failed. To be fair to the trust, and I'm not interested in history, that is the view that Nick Illingsworth gave me yesterday. If in the end we need to save the club, it will require the support of the trust for the simple reason they have the proper trust structure in place. The media also consider them to be of influence. To make a rescue work we need to use the media effectively.

I am saying specifically that there are potential bidders going through the process, which is stage by stage. I didn't say there wasn't anything happening, I'm sure there is, but until all the stages are carried out the actual offer and hopefully acceptance won't happen. An acceptable bid is the second last thing to happen apart from the signing.

There is a difference between passing the proof of funds stage, then doing due diligence and an actual bid which would depend on the state of the club as found in the due diligence. The potential buyers like the league, FA, administrators, club, will have had their lawyers looking at the rules. They all know where they stand we just haven't been told by the league because I suspect they are waiting and hoping that the club drop into administration. I wouldn't for one minute think that any buyer would be put off by relegation, I do know there is serious interest and the process can't be hurried. In the end do we put all our eggs in one basket or do we get a structure in place just in case, you know my answer. The sooner the fat lady gets up and sings the happier I'll be, Its the doubt that is the killer.

There have been no bids, I believe that all but three or four at the most have been weeded out. The criteria we are at, is evidence of funds before due diligence takes place. Any group that don't have the funds in place don't have a prayer. If all the boxes are ticked for a prospective buyer who have the funds in place, then it may well happen. Even then we don't know what part of the business and assets are being considered. At the moment to my limited knowledge it is still a bloody big 'if'. We have to organise a back up. That is where we are.

The only focus in my mind is to be able to gauge the level of support and if in the event of imminent liquidation try to rescue something out of the existing mess. I really don't give a rats arse about prejudices and historical issues. If it comes down to it, it is going to be you, me and the ordinary fan that will put their hands in their pockets. I hope there is going to be a buyer, but if that fails we need to do something. If that means shaking hands with the devil, so be it, if by combining we make ourselves more effective then that's the way to go. To that end I've asked Steve Grant to take that bloody silly business plan off the saveoursaints pledge page. It detracts from the only issue and only supports the bloody silly SISA proposal which isn't going to happen.

Let's just say that I'm hopeful the problem will be resolved and we can then dump this contingency plan.:smt117;)

If it was down to me then nick, I don't blink, so it would be the second option. I only ever give one chance then walk away. I come from a long line of Irish farmers and builders. I was born with a hard nose as anybody who knows me will tell you.

It's called horse trading, If they want the club and can't get it without help then they have a choice to make and so would we. We also have the choice to disregard the failed bid and mount a rescue attempt. In any event we really don't want either scenario.

I am hopeful we won't be needed and a buyer will be found. However we have to be prepared if that doesn't happen, to ignore that possibility would certainly mean the end of the club.

You are picking up on general terms I'm using, I'm not really in favour of this option but there would have to be ring fenced safeguards to protect the contributers interests and to avoid a 6% dictator getting his hands on the club. In my view the vital 1/3 equity to enable the deal brings 50% of the influence.

As I've said to you before where the hell did you get that from because apart from you saying it, nobody I know has said that or anything like it. It's obvious if we go down with the majority of the players out of contract in July there will be a mass exodus. There will also be the contracted players who won't want to drop down and will get their agents to find them a new club. Either way most of this years team will be gone.