Weston Saint

If someone has purchased or offered to purchase the Stadium alone I am getting a bad feeling that the present 2 groups at the table will abandon talks. The Staduim was an income stream and essential as part of a business package.

I do not see this as a problem. All it means is that no one is prepared to purchase the shares of Southampton Leisure Holdings plc. In my opinion it does not change the status of the talks in place at present. It simply send the final message to the shareholders that they will not get a return on their investment.

Absolute nonsence. They may announce the preferred bidder but that is all. More due diligence before and owner is announced. That may take weeks.

I hope you ar wrong as well.

My understanding is that both parties at the table would have no problem with the deposit requirements should that be good business practice and normal in these circumstances.

Very much like Solicitors and I was involved in negotiating costs in my working life. Firstly the Preston rates quoted are the provincial rates and Southampton/Southend likely to be the same. I would doubt Fry will bill 7 hours a day working on Saints. He will have other clients. Secondly a lot of the preparation work will be carried out by a junior billing a much lower hourly rate. Thirdly the earlier list of fees may be correct BUT they will not all be working at the same time. They will also be billing other clients. As for the daily cost, it does not work like that. If Fry is in negotiation all day then it might be a costly day but other days he will not be working on Saints account. Unless you understand how it all works I suggest you refrain from speculation. Most of it is wide of the mark. Ask Clapham Saint who is in the business.

I think part of the answer of why MJ is involved may be that he uses his extensive contacts to go out and find the money men and bring them to the table just as Tony Lynam is doing. Without these 2 guys we might not even be at the the proven funds stage and we all know what that would mean.

There are a lot of assumptions on here. There is the assumption that because Jackson failed before he will fail again but he is only a small bit player overall. He won't mind me saying he is not the brains behind the operation. He is a facilitator/negotiator. Decisions are made by others. He was often on here giving it large. Not this time though. It is possible to learn from past mistakes. Jackson has certainly done that as far as I can tell. There is an assumption that if the bid is successful he will play a big role in the future of SFC. That is not my understanding. Whatever the outcome of their groups bid, whatever the outcome of the "Pinnacle" involvement or any other last minute interest all we want, and I include Green, Jackson, Le Tissier and Lynam in that, is the football club to have a future. Without all their interest and hard work it is unlikely we would still be debating a hope of a future. Let's not criticise any of their efforts. They are all giving up masses of time to achieve a positive end. Can any of the critics on here say the same?

I have had a contact from someone since I posted earlier this evening who has not told me anything but seemed a little more upbeat than my post. Let's see what tomorrow brings.

True, that is my worry but never under estimate Mr Fry and his office. He is an experienced man used to just this situation. He would not be in that position if he was anything other than successful. Let's hope he can get a positive outcome to the creditors and supporters satisfaction.

I have no agenda MM but can understand your suspicion. I am a supporter who just has a few contacts, friends and enough experience to form a reasoned and balanced opinion. You are right, it is a fans forum. My posting history is available to you. It is up to every poster as to what they make of it. I do not hold myself up as anything more than the average fan.

No I do not, is the simple answer

I am beginning to get very disillusioned by all this. I am getting whispers from several places tonight and it is not all good. However it is still subject to verification. We have a bid on the table with proven funds which does not appear to meet with the Administrators approval or at least he is not talking or making a decision. We have another group who have been in talks (allegedly today) but as no announcement I assume they have yet to put in a written bid...perhaps tomorrow. The only chink of light is Wild-Saints post following a reported chat by a family member with LeTissier, but why no announcement if it is correct. Time is running out. I hope Mr Fry does not mess this all up. I hope the other interested party does not mess this all up by not putting in an indicative bid. I hope the present bidder does not mess this all up by withdrawing the tabled indicative bid because of delays and lack of communication. The fat lady is not yet singing but the death knell is preparing to sound. Mostly (with few confirmed facts) in my opinion of course.

How do you know we did not know we were going into Administration?

Trousers...exploded...when? Trousers get on the internet and investigate.....Oh!

The person I put the question to above.

a ? at the end usually denotes a question. He has emailed me. He does't know or cannot/will not say. Edit. Sorry, my answer looks sarcastic. I apologize, that is not my usual style

Hi Neil. It appears Pinnacle do not have an interested party anymore?

And if you are wrong?

My opinion If you have the right skills you can find investors. Those investors, if interested, can prove funds and go through the early due diligence. If you have the right skills you can get them to the negotiation table with the Administrator and with the right advice reach a point where the investors make an indicative written bid for all or parts of the company. If the Administrator finds the indicative bid is the best deal for the creditors or there is no other indicative bid likely he can then give them preferred bidding status and a period for completeion for due diligence. During that time no other bid can be considered. The Administrator will not be able to give a guarantee that the information he provided fo the initial due diligence will stand up. It is for the indicative bidder to then carry out fairly expensive and extensive due diligence. When that is completed a formal bid is made and completion takes place. Anywhere along the way the "bidder" may withdraw. You can get good money men to the table but lots of things can happen on the way to completion. No one has got to the preferred bidder status yet. One has put in an indicative bid and negotiations seem to be continuing. I am not told the bid has been withdrawn yet or anyone else is at the table. Anyone want to correct my assumptions? All this rumour of a press conference is just that, rumour. The Administrator will report when he is ready. Let us hope it is not to tell everyone that the football club has been liquidated and no more.

No, would not recognise it if it bumped into me and apologised

You are assuming Pinnacle and MLT are involved John. I see no evidence they have done anything more than drop hints through the media and on here. Notice how quiet they have all gone today?

They and their supporters seem to have gone remarkably quiet! Perhaps they do not see Wednesday and the new Friday.