Weston Saint

That is not my understanding of the matter. It was the bounced cheques that led Lowe to call in the Administrators. He had a fiduciary responsibility to do so. there was no chance of funds coming in from any other source.

Although without knowledge of what went on that would be my take on it as well.

Barclays did not put us in Administration, Lowe did because we were no longer a going concern. All Barclays did (as they were perfectly entitled to do) is not honour cheques drawn over the overdraft limit after the deadline for player sales had passed and it was obvious expenditure would far outweigh income in the months that followed.

I am not aware of Cowen being anywhere near this matter now or in the future. He has other interests keeping him busy.

Because he will be spending that money to keep the club going until the due diligence and contract signing completed. It will not happen in a few days. In my opinion as I am not qualified in such matters.

One of the bigest problems is that if you pay to much for the club it reduces what you have for team building. That is not Mark Fry's problem nor that of the creditors so there is always going to have to be negotiation. Once a figure is agreed and I am beginning to think that is less of a problem than the press or many posters on here think, the next problem is the non refundable deposit to allow the real due diligence to take place. No Administrator is going to give a warranty that all the details he has given pre indicative bid is correct and complete. He needs money to keep the club going whilst that due diligence takes place at some considerable cost to the bidder (I have heard report that it can run into hundreds of thousands of pounds.) The potential buyers see that as their cost risk. They do not want to see a £500,000 non refundable deposit to be at risk as well. Suddenly we have an impass. Fry needs the money but the potential purchasers see the risk too great. That may have been the problem with the Pinnacle bid and could still be a stumbling block for any other bid. Business men with money make money by taking risks but calculated risks not the gamble that their facilitators would wish them to take. All, as Morph says, my humble opinion.

I can tell you catagorically that if the Green/Jackson led bid leads to a purchase Lowe will not be part of it in any way shape or form. Nor will he be involved now or in the future. I hope this kills your obsession once and for all.

Amen to that

All out. We are top and a home game on Saturday. Draw later today

119-9

Just listened to Solent commentary. Not the wicket, just great bowling. All power plays used.

We have to bat though Steve. Looking good at present.

Your overall attitude to this offends me for reasons I have stated earlier on this thread. But hey you have never been affected by this so are not coming from a position of strength. I think I will get off this thread now. I have no more to add.

Club Vice President seems apt. A link without interference.

Having had my youngest brother knocked down and killed by a drunk driver 8 years ago leaving a wife and 3 children under 10 you will no doubt appreciate I have no sympathy with the man. Edit. I have to add the driver remained at the scene pleaded guilty and got 3 years.

I echo Dubai Phil's reasoning and think he is probably spot on. Lynham & Pinnacle nearly pulled it off and who is to say he will not be able to come back to the table with investors to replace the ones who ran away. He will know more now about the situation and be able to brief the replacements. All we want is a club next season. I am very slightly less anxious than I was a couple of days ago and now await any Administrator announcement with less trepidation.

As I defend you when you are falsley accussed of being others so I will defend Marc who is not the poster you are responding too. Marc is keeping his own counsel and has not posted for a while.

Maybe it is the Sandman. Just wish he could sprinkle some of his special dust and make all our dreams good ones.

Not changed my view on that but clearly Leon Crouch thinks there is hope but he was ever the optimist when it came to Saints.

Leon Crouch is providing a loan to the football club, SFC Ltd who are not in Administration. It is a loan he will expect to be repayed should a new owner purchase the football club. Other than that I do not know the terms. I assume he stands to lose the lot if the club is liquidated. Whatever the terms and whatever he has done before this IS a lifeline and he deserves credit for that gesture and commitment.

Leon Crouch is providing a loan to the football club, SFC Ltd who are not in Administration. It is a loan he will expect to be repayed should a new owner purchase the football club. Other than that I do not know the terms. I assume he stands to lose the lot if the club is liquidated. Whatever the terms and whatever he has done before this IS a lifeline and he deserves credit for that gesture and commitment.

To-morrow, and to-morrow, and to-morrow, Creeps in this petty pace from day to day, To the last syllable of recorded time; And all our yesterdays have lighted fools Macbeth Seems apt at the moment.

This is a buyers market. The buyer should have the initiative. Make a written indicative bid, prove the funds for the same, ask for full due diligence or publically walk away from the table. Put the pressure back on the creditors. I am not sure the Pinnacle group have reached the written indicative bid stage yet. That has to be a powerful tool and lack of such suggests a lack of real desire or finance. I am with GM on this one.

A very good and worrying point Steve. That and my reasoning above is why I am fairly convinced we are history.

We need to look at the market. There is no billionaire out there willing to buy Saints as a toy. The only interest so far has been from businessmen who will expect to see a return on their investment. There has been talk on here of restructuring the debt with Aviva. Any potential buyer will not want to do that. He will want to purchase the stadium for as cheap as possible. Restructured debt is a continued millstone around the neck. Some talk about a separate buyer of the stadium. Any potential buyer of the football club will not want to have to pay rent and lose income from other uses. Let's not blame Aviva for any of this. They have been very helpful and understanding up to now. It is not their fault the business is in the mess it is. Barclays may be a different story as they seemed to allow the Hone regime increase the debt imprudently. They took the risk and should be in the queue of blame after the Board of Directors.