Guided Missile

Excuse me for starting a separate thread on this, but this is an important and distinct point, IMO. It appears that the deal has collapsed because Pinnacle assumed all along that by buying an asset of Southampton Leisure Holdings plc, ie shares in Southampton Football Club, Pinnacle was assuming that as the Football Club is a separate and legal entity from the Holding company and was solvent, they would be able to appeal the 10 point deduction. This seems to have been an afterthought, however, as this is what Tony Lynam posted on this forum after being given preferred bidder status: It just shows the danger of posting bull sh!t on forums before you have run it past your lawyers....

So the correct approach is what you and Pinnacle are advocating, which is to stand firm, tell the league to f*** off and see them in court, then? I'm suggesting they pay the money they agreed, for the club that had a 10 point deduction when they made their offer, which presumably had factored in the 10 point deduction and make the 10 points up on the back of the euphoria generated by our new, multi-millionaire owner and 5 year plan. Remember the 5 year plan???? 10 points doesn't seem a lot over 5 years, does it?

I am far from being way off the mark.... The only reason Pinnacles' client is getting the bargain of the century in the form of a cut price 32,000 seater stadium is because SLH went into administration. This allows them an advantage over nearly every other club in League One in terms of potential revenue, thus player investment. The £15-20M they are saving on the deal, on the back of shareholders and creditors who are losing their shirts, is costing ten points, ie 3 wins and a draw. Like I said, Money Talks and Bull sh!t Walks....

Bang on the money, Steve and correct me if I'm wrong, but this would have been known before Pinnacle made their offer, wouldn't it?

They don't. The Administrator of SLH satisfied the creditors when they accepted Pinnacles' offer and provided an exclusive period to close the deal. Fry could not have accepted the offer for SFC unless it did....

With great respect, this is a total load of ******... Firstly, you have to be in a position to apply for an interim injunction and the only corporate entity that can do that is SLH aka Mark Fry and I can guarantee he won't. Secondly, you then have to hope that the judge will grant the interim injunction and I can tell you that the rule with these is that if the potential damage caused by the alleged breach you are trying to injunct can be remediated by an award of quantifiable damages, you won't get one. As the season doesn't start yet, I am trying to figure out any damage the leagues' position will cause, TBH. This is like me wanting to join Stoneham Golf Club and applying for an injunction to prevent them from cutting my handicap, FFS. Get real, everybody. The 10 point deduction was known when the deal was agreed with the administrator. All the league wants is for the new owner to pay the football related debts and reach a CVA with the non-football creditors and not to force the League to spend a million or two on legal expenses to let us play in their league... ...oh, and what's the betting that the two remaining questions that Tony Lynam has for the Administrator are: Will you take an IOU for most of the asking price, and Will you take an IOU for most of the asking price....

Money talks and bull sh!t walks.....

In practical terms, this argument means nothing, because there is no way the League would risk a legal fight if there is a chance they would lose. The reason? Damages if they are wrong....massive Additional benefits to the league if they are right....f*** all The best thing is to let the club play this coming season with both sides reserving their legal position...and that is what they will do.

I sincerely hope so....

Truely, madly, deeply....

...and Bull sh!t Walks. I would expect the job for today is a quick trip to the bank to organise the transfer of ca £15M of cleared funds into Barclays account in readiness for completion tomorrow. I don't think Fry will be too impressed with grainy photos of Kevin Keegan or a list of potential directors of the new football club, who are all clamouring to play with the new train set, that a mystery buyer has financed for them. In the scheme of things, I will repeat what I have been saying for some time. I will be amazed if a pair of potless dreamers, one admittedly a legend for a fan like me and the other an apparently, charming Irish chancer, arrange the money transfer that will finally complete a deal this week. In preparation for tomorrow's takeover, I will pre-post my grovelling apology, as follows: "In a triumph of hope over financial reality, Pinnacle in the form of Tony Lynam, have organised the financing of a multi-million takeover of Southampton Football Club, managing to convince one of the nicest guys and most gifted footballers in Saints' history to lend his support. I for one would like to offer my deepest gratitude and congratulations for succeeding in this venture and look forward to supporting the new club as I have done in the past, with a spirit of hope and expectancy. I deeply apologise for doubting the financial capability of Pinnacle and Tony Lynam in particular, in succeeding against all odds and can only say that my scepticism was fuelled by the recent experiences of being a Saints fan, with so many false dawns". I am sure that many on this site will wish to add their congratulations and/or apologies, in the same way, when tomorrow comes...

Has anyone thought that the deal that is on the point of collapse could be the arrangement between Pinnacle and their multi-millionaire client? The legal arrangements with the Administrator will be negotiated by lawyers instructed by the principle, not Pinnacle and asset/share purchases are not that complicated. Maybe, just maybe, Pinnacle's contract with the client was done over a beer in the Lock, Stock and Barrel and getting it on paper, is proving a bit more difficult, now that Daddy Warbucks may be thinking he doesn't need his ginger-haired orphan anymore, particularly when the exclusivity period expires. In other words, remember the golden rule. He who has the gold, makes the rules...

Here it is....

Yeah.....

I bought an Echo at 8:00AM this morning, read it and posted what it printed. You obviously didn't, so I'd pop out, buy one and post an apology...

We are about to be owned by a man as rich as Mandaric and will have no creditors and a director in Matt LeTiss worth far more than 10 points next season. What player would want to leave a set up that is planning to return the club to the Premiership within 5 years....?

Leicester City retained most of their squad and added players like Paul Dickov when they went down.....and then came straight back up....

....because I am. This is why. According to the Echo, deals for the sale of two of our most valuable assets, Surman and McGoldrick, could be decided today. Now, the only way that this could happen, IMHO, is for the Pinnacle consortium to agree to the sale, as they hold an exclusive position with regard to the purchase of assets from SLH, ie, no other party can agree to buy these players without their agreement. So....I would have hoped that before this happens, a discussion, however brief, would be held with our existing manager or our new manager on whether he wants to keep the two best young players in our squad. I really want the shy multi-multi-millionaire to complete the deal, but I would have rather that these player sales were agreed after the new management structure was in place and the players were back at training. Still, that's just me, nervous post-Wilde and pre-asset stripper. I look forward to the well-informed posters to explain the timing of these transfers....

Tabor lives in Monaco, so I think it's more likely that if he buys us, it is linked to my email demanding reparation for the silver stolen by the pirate Grimaldi from Southampton, a few years ago....

As I posted at the time, Madonna would have paid at least a million...

A busy day running my business, plus a sneaky 9 holes of golf, meant I have only just caught up with the witty rejoinders on this thread. Grovelling is not my style, Neil, as you can well imagine, but I look forward to apologising for the post that must have started this: 15-05-2009, 09:48 AM I have to admit that I am f***ing amazed and thankful that it appears that your Irish chum has rustled up a multi-millionaire that is willing, not only to buy an expensive new train set, but is also happy to let Lynam play with it. Eccentric millionaire actually doesn't come close to describing our potential new owner and I am looking forward to offering profuse apologies the day that the cheque for £15M is presented to Mark Fry.

I'd get back to Villa Park with your mate/alte ego Hacienda. You and I know what you're doing here and it has nothing to do with supporting Southampton Football Club. Northern monkey....

It may be worth looking at this thread to find out where they got the photo....

Only if your seats are anywhere near mine....

You obviously work for Barclays. It means f*** all to anyone else...