derry

This is a rescue attempt, the tv ad says it all, your investment can decrease as well as increase. This idea for me, is to buy a share of a supporters owned football club and get a vote. Everything else you pay for.

Allowing the Saints Trust to have anything to do with this would kill it stone dead. I think a lot of people would walk away, I know I would. They are a busted flush, this idea needs new faces and and an untainted reputation.

The only problem with that from my point of view joining the fan with the corporate would only work one way. The fan would be on the outside looking in unless the shareholding was a majority, allowing a proper say in the election of directors and the ability to remove potential 6% dictators.

I take it he is talking to the administrator, If he is serious, with serious backing then we don't have to try and go through the trauma of trying to raise the funds through the fans. It would be helpful for guidance before we go too far.

It's a football club, in my view every penny in funds the club and no bloody freeloaders. This is a rescue FFS. In my view the elected directors pay for their seats and the shareholders all get a go at the directors box.

Initially, this is testing the response, where I come from, if the response is significant, a proper shareholders trust would have to be set up, the appeal publicised, the administrator brought in, significant people of proven integrity involved together with an active number of organisers to carry out the donkey work. Initially no money taken but the mechanism put in place and provided the scheme is a runner and supported by the administrator, bank and bondholders then the money could be collected.

If each share is set at £100, then any figure could be pledged in multiples of £100. Just post it and it can be counted up if below the £500. If a few want to club together to take a share just nominate a holder. We should know by monday whether this could be a runner, worth taking it on to the organisation, publication and the administrator.

No only printed in the Echo, it's not on the website, fill your boots I've got cramp.

I've asked for a poll, but no movement yet, My view is to set up a poll and see over say this weekend how much support then go from there. No timewasters, and definitely has to be up front and watertight, no politics at all.

200,000 on the club database. It would have to be democratic and incapable of highjacking. The more shares bought the more money in the kitty. If somebody came in with a million it would give 10000 shares but be outnumbered 20 to 1.

The statement is printed in the Echo above Wilde's statement therefore no link, I didn't see it on their site.

If there is enough of a response the administrator would need to be brought on board. Mods could this be a sticky for the time being, maybe with a poll type of table with amounts such as 100 200 300 400 500 1000 1500 2000 2500 more. So that interested people could easily register their intent.

"Barclays has been working alongside Southampton Leisure Holdings' directors, shareholders and advisors to find solutions to a range of significant and well publicised issues the company has faced in recent months. While the bank's position in this instance is only one of providing an overdraft facility, not equity investment, the key issue now facing Southampton Leisure Holdings is one of requiring substantial further investment. However and despite ongoing efforts by Barclays to find a suitable solution and urge various existing investors to the table, sufficient investment to support the company in it's present structure has not yet been secured. Barclays will continue to work closely with company management to find the best outcome possible". It seems the existing investors weren't prepared to invest. What a surprise!

Elect the board. Formal structure, Owned by the fans, Annual elections, anybody interested? I'm in for £2500 if it's a runner. No 6% dictators.

Need to set up a trust, bring in the media, open a bank account, set out an appeal. For that sort of money the club could easily be bought, the debts settled and the mortgage serviced together with £15 to £20 million working capital. The 10000 could elect the board and hold the club to account. Another way would be a variable share starting at £100 then at multiples of £100. 25 shares for £2500. It would bring a lot more people into the equation. I would put in £2500.

Some people are really dumb, the plc go into administration, because of the legal situation re ownership we avoid the 10 point deduction, if the players contracts aren't honoured in full, it would give the league the opening to be able to deduct the 10 points.

As it's gallows humour, blue shirts, white shorts, red socks. nick name pompey. If Southampton went out of business I wouldn't bet on Gaydamak moving the club then rebranding it.

Then we can really bankrupt him properly.

SLH are a public company that owns the shares of another company SFC. The FA required SFC to be a separate entity not subject to public company law but subservient to FA/League rules. That company at this time are not in administration and apart from being owned by SLH are legally unconnected. If SFC remain solvent, pay their debts and fulfill their fixtures and liabilities in accordance with the rules the football authorities would have no case to deduct points. The clubs named here are not quoted plcs but limited companies that comply with football rules which a plc would not have to do.

McMenemy on sky said he understood £24m on 25 year mortgage and an overdraft of £4m.

Fry says the holding company is in administration and owns the shares of the football club which is just an asset of the holding company. He also said because of it's relationship with the holding company the club is in jeopardy.

Derby's holding company went into administration but the football club didn't, there was no points deduction.

Is it the one's you didn't name that you thought might not happen:rolleyes:?

The football league/FA will be very careful about imposing a penalty on a 'club' that doesn't go into administration. If they do, stand by for a court case, as their rules insist that holding company administrations are unconnected to 'clubs' which are separate trading entities. Southampton FC in accordance with the rules have been set up as a company in it's own right and as long as it is trading, solvent and pays it's 'football related debts' in full, would fulfill all the criteria, therefore the FA/League would not be able to interfere, without the danger of being sued and should it be proved relegation happened as a consequence of their unlawful actions would have to pay large damages.