derry

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.

Isn't it just, nice to be able to look forward without that ***** and his cronies blocking anybody coming in.

Hoo bloody ray, maybe the club can move on now.

Doesn't say they have resigned from the club board yet.

Football debt, other clubs, players etc not other debt like overdrafts, tax, mortgages etc.

We only win when there is a protest, so if Lowe and Wilde are gone we need something to protest about. Definitely need a protest, maybe we don't want Lowe or Wilde back aimed at the administrator if it happens.

Buy Bournemouth and move to SMS. The land is covented by the previous owners, which would have to be bought out to allow the site to be sold for anything else.

It doesn't matter as the club is not in administration. Just think of say RBS going into administration, if they owned a hundred companies all trading and solvent, one a football club, the FA/League would have no reason to get involved as long as the club wasn't in administration.

As long as the football club remains trading out of administration the FA can do sod all. They insisted the club was set up as a separate entity with it's own directors and finances subservient to FA rules, it is owned by the PLC but solvent and operating within the rules.

It's possible and I believe there was a meeting with the bank about the overdraft, where the directors were asked to invest but declined. Crouch went public about putting in £2m if the other two did the same, it's possible that Crouch etc have a hand in this. Just maybe the bank see this as a preliminary to money being invested and a way of getting rid of the blocking force to any realistic investment, allowing the sale of the company, reorganising the debt and getting their money back in due course.

The FA can hardly complain now, it was to comply with the FA's rules that the Football Club had to be an independent company from the PLC with it's own board and finances and football responsibilities subservient to the FA rules. They are responsible for the separate entities and have shot themselves in the foot provided the football 'club' doesn't go into administration and continues to trade legally.

SLH is not the football club it is the PLC that owns the FC. If the football club pays it's football related debt then there would be no need for the FA to be involved. In that case not only would there be no automatic points reduction there would be no case for further reductions next season as long as the FC doesn't go into administration. We are past the deadline for an automatic reduction this season and any reduction would be applied next season, provided the club was relegated. If the club was not relegated the points would be deducted this season and if that relegated the club, that would happen.

When SISU were looking at Coventry, prior to the takeover being agreed the bank kept the club going and paid the salaries.

I thought it had been announced after the meeting today broke up. In any event it seems it is a shoe in, either that or a buy out in some form.