bridge too far Posted 19 June, 2009 Share Posted 19 June, 2009 Yes you have in theory but not in practice. In Bournemouth's case they accepted a 17 point penalty and fifteen other conditions including giving up their right to appeal in order to get their golden share back. Leeds went further, having originally agreed to accept the FL edicts they then reneged on that and threatened to go to law. A panel of the clubs was set up as an alternative and Leeds agreed to abide by the decision. The panel found in favour of the FL. As a result a new rule about clubs giving access to an independent auditor was passed. SFL withdrew co-operation from the auditor. You are in a lose lose situation. You got his name wrong it is Lord "we'vemadeitupalreadybeforeyoucamealong" mwhiny. Of course you've got a right of appeal from League2. Feeling lucky? When auditors are appointed to review something, Terms of Reference are submitted by the auditors to the auditees for approval and agreement. Auditors are not permitted to delve outside those Terms of Reference. I think the Administrator feels that the auditors in this case did, indeed, go beyond the agreed Terms of Reference. Link to comment Share on other sites More sharing options...
Saintjersey Posted 19 June, 2009 Share Posted 19 June, 2009 (edited) BREAKNIG NEWS: A statement on the takeover deal will be announced at 13:00hrs on Tuesday 23rd October, 2042. There are some last minute details to tidy up. The club will not be taking part in the Football League for the next 33 years while the deal is concluded. Oh FFS, it just keeps getting worse and worse, I bet Lowe is behind all of this. Just wrecked my day, how am I supposed to live without football for 33 years! Edited 19 June, 2009 by Saintjersey Link to comment Share on other sites More sharing options...
ecuk268 Posted 19 June, 2009 Share Posted 19 June, 2009 BREAKNIG NEWS: A statement on the takeover deal will be announced at 13:00hrs on Tuesday 23rd October, 2042. There are some last minute details to tidy up. The club will not be taking part in the Football League for the next 33 years while the deal is concluded. 23/10/2042 is actually a Thursday Link to comment Share on other sites More sharing options...
Frank's cousin Posted 19 June, 2009 Share Posted 19 June, 2009 the story at the time was that the FL investigators wanted to delve further than their remit allowed, Mr Fry correctly and politely declined when they attempted that, the investigators threw a wobbly and the FL put some spin on it to try and make themselves look good. Why a FL investigation would have the power to demand details from a different company to the football club is beyond me....? Sadly Lord tosser's gang now look like a bunch of people who dropped a clanger then shot themselves in the foot, and they are currently reloading before shooting a hole in their other flip flop. A casual observer might consider that the former duck-house owning, moat-cleaning, dog food purchasing, false-mortgage claiming leech on society could stick his penalty where the sun don't shine, but that would be harsh and something I couldn't support. Pure class Link to comment Share on other sites More sharing options...
SO16_Saint Posted 19 June, 2009 Share Posted 19 June, 2009 am down at SMS currently. Have been talking to a TV guy and he said that he expects a press release / some news 'shortly'. He said that from his POV there is nothing (NOTHING) holding up the confirmation of the take-over / buy out whatever you want to call it - apart from the FL issue. He stated that he understnds that contracts are ready to be exchanged shortly and completion soon thereafter - to use a housebuying analagy. keep calm guys, keep calm. Link to comment Share on other sites More sharing options...
fisho Posted 19 June, 2009 Share Posted 19 June, 2009 am down at SMS currently. Have been talking to a TV guy and he said that he expects a press release / some news 'shortly'. He said that from his POV there is nothing (NOTHING) holding up the confirmation of the take-over / buy out whatever you want to call it - apart from the FL issue. He stated that he understnds that contracts are ready to be exchanged shortly and completion soon thereafter - to use a housebuying analagy. keep calm guys, keep calm. Can't keep calm any LONGER!!!! Link to comment Share on other sites More sharing options...
1976_Child Posted 19 June, 2009 Share Posted 19 June, 2009 23/10/2042 is actually a Thursday Indeed. It was a trick news bulletin to keep you all on your toes. Link to comment Share on other sites More sharing options...
SaintBobby Posted 19 June, 2009 Share Posted 19 June, 2009 Realistically it could be as late as 10 or 11pm if side letters (to the main agreement)dealing with various scenarios have to be drafted, assuming both Mr Fry and Mr X /Pinnacle want to get a deal signed by the end of today. Can someone explain the Golden Share please- is that in FL rules somewhere? Maybe...but if we don't finish by close of play, why not assume it drags on till Monday. Is today's deadline 5pm/close of business or midnight? Link to comment Share on other sites More sharing options...
sotonist Posted 19 June, 2009 Share Posted 19 June, 2009 am down at SMS currently. Have been talking to a TV guy and he said that he expects a press release / some news 'shortly'. He said that from his POV there is nothing (NOTHING) holding up the confirmation of the take-over / buy out whatever you want to call it - apart from the FL issue. He stated that he understnds that contracts are ready to be exchanged shortly and completion soon thereafter - to use a housebuying analagy. keep calm guys, keep calm. Well I'm glad a TV guy is so confident. That's good enough for me. I'm convinced. Link to comment Share on other sites More sharing options...
Eyes k8 Posted 19 June, 2009 Share Posted 19 June, 2009 Realistically it could be as late as 10 or 11pm if side letters (to the main agreement)dealing with various scenarios have to be drafted, assuming both Mr Fry and Mr X /Pinnacle want to get a deal signed by the end of today. Can someone explain the Golden Share please- is that in FL rules somewhere? My last post of the day. The golden share is basically your membership card to the club. If you go into administration you will lose your membership card. When SLH went into administration the FL announced two measures, the first being which got a lot of publicity was the points penalty, the second which was almost completely ignored was that the administration rules became operative- nobody even started a thread on here about what that meant. Almost certainly it meant your membership was revoked (no golden share). You can only go back into their league and the division you want if you accept their additional stipulations. There are likely to be a number of them. One will be giving up your right of appeal. I suspect that this is illegal as it is unreasonable, but the only way to prove that is to go to law and you might well win. But in the meantime you won't have your golden share or a league to play in. I think there is also an FA golden share that is still witheld from Leeds. Perhaps someone could post the administration rules that the FL made operative some while ago. Link to comment Share on other sites More sharing options...
saint_stevo Posted 19 June, 2009 Share Posted 19 June, 2009 you can play without a golden share Link to comment Share on other sites More sharing options...
brianoneils slidingtackle Posted 19 June, 2009 Share Posted 19 June, 2009 C'mon Ive gotta get the ttrain to waterloo in a minute, once Im in work it will be a virtual news blackout until late tonight, suppose nothings gonna happen anyway :-) Link to comment Share on other sites More sharing options...
niceandfriendly Posted 19 June, 2009 Share Posted 19 June, 2009 He stated that he understnds that contracts are ready to be exchanged shortly and completion soon thereafter - to use a housebuying analagy. Christ. Completion usually occurs approx 1 week after exchange. Hopefully this reporter wasn't being too literal in his analogy. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 19 June, 2009 Share Posted 19 June, 2009 Maybe...but if we don't finish by close of play, why not assume it drags on till Monday. Is today's deadline 5pm/close of business or midnight? I could be wrong...but surely if Pinnacle satisfy all parts of Mark Fry's requirements (i.e Proof of Funds etc)...and the delay is from the end of the FL and Lord Bungleandzippy...he would be entitled to give them until Monday to complete?? Just another thought...could the 'manager' delay be negotiations with Newcastle to release Shearer, Dowie and Keegan from their obligations???? Would like to see Tim Flowers back...he's a top bloke...spent some time with him during work experience at The Dell...also sat in Branfoot's office whilst he was chatting about Micky Adams' plans to go into coaching. Branfoot was nice as well... Link to comment Share on other sites More sharing options...
simo Posted 19 June, 2009 Share Posted 19 June, 2009 Pass the razors someone! Link to comment Share on other sites More sharing options...
1976_Child Posted 19 June, 2009 Share Posted 19 June, 2009 my whippet could get this deal done quicker standing on one hind leg dancing the polka and balancing a sea-lion on her tail. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 19 June, 2009 Share Posted 19 June, 2009 Christ. Completion usually occurs approx 1 week after exchange. Hopefully this reporter wasn't being too literal in his analogy. No worries...you can exchange and complete same day... ;-) Link to comment Share on other sites More sharing options...
david in sweden Posted 19 June, 2009 Share Posted 19 June, 2009 23/10/2042 is actually a Thursday well maybe its THAT friday they mean....the 24th? Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 19 June, 2009 Share Posted 19 June, 2009 am down at SMS currently. Have been talking to a TV guy and he said that he expects a press release / some news 'shortly'. He said that from his POV there is nothing (NOTHING) holding up the confirmation of the take-over / buy out whatever you want to call it - apart from the FL issue. He stated that he understnds that contracts are ready to be exchanged shortly and completion soon thereafter - to use a housebuying analagy. keep calm guys, keep calm. Well, thats a bit better news, hope that this is news i can trust. F'n god damn Fl. Link to comment Share on other sites More sharing options...
SaintBobby Posted 19 June, 2009 Share Posted 19 June, 2009 you can play without a golden share did they tell you that at the 12.30pm press cofnerence or the 2.30pm press conference? Link to comment Share on other sites More sharing options...
trousers Posted 19 June, 2009 Share Posted 19 June, 2009 Link to comment Share on other sites More sharing options...
Guided Missile Posted 19 June, 2009 Share Posted 19 June, 2009 You can only go back into their league and the division you want if you accept their additional stipulations. There are likely to be a number of them. One will be giving up your right of appeal. I suspect that this is illegal as it is unreasonable, but the only way to prove that is to go to law and you might well win. But in the meantime you won't have your golden share or a league to play in. 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. Link to comment Share on other sites More sharing options...
Gingeletiss Posted 19 June, 2009 Share Posted 19 June, 2009 My last post of the day. The golden share is basically your membership card to the club. If you go into administration you will lose your membership card. When SLH went into administration the FL announced two measures, the first being which got a lot of publicity was the points penalty, the second which was almost completely ignored was that the administration rules became operative- nobody even started a thread on here about what that meant. Almost certainly it meant your membership was revoked (no golden share). You can only go back into their league and the division you want if you accept their additional stipulations. There are likely to be a number of them. One will be giving up your right of appeal. I suspect that this is illegal as it is unreasonable, but the only way to prove that is to go to law and you might well win. But in the meantime you won't have your golden share or a league to play in. I think there is also an FA golden share that is still witheld from Leeds. Perhaps someone could post the administration rules that the FL made operative some while ago. But, the club ie SFC, never went into administration........this is the whole point, so it stands to reason, that we should not lose/have lost our Golden share!!! Link to comment Share on other sites More sharing options...
trousers Posted 19 June, 2009 Share Posted 19 June, 2009 Link to comment Share on other sites More sharing options...
saint_stevo Posted 19 June, 2009 Share Posted 19 June, 2009 did they tell you that at the 12.30pm press cofnerence or the 2.30pm press conference? not sure if you noticed but it hit a slight unforseen snag moron Link to comment Share on other sites More sharing options...
SaintBobby Posted 19 June, 2009 Share Posted 19 June, 2009 not sure if you noticed but it hit a slight unforseen snag moron The snag being it was NEVER scheduled. Cretin. Link to comment Share on other sites More sharing options...
Saint J 77 Posted 19 June, 2009 Share Posted 19 June, 2009 Oh dear me! Its another depressing takeover day gone wrong. I'm so hacked off. Against my better judgement I got sucked in and I really thought it would happen today. I should have stayed true to my normal cynical belief that nothing good ever happens to Southampton anymore. Link to comment Share on other sites More sharing options...
Saintandy666 Posted 19 June, 2009 Share Posted 19 June, 2009 What zeeee fook is a golden share? Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 19 June, 2009 Share Posted 19 June, 2009 http://www.youtube.com/watch?v=jyYZUhSeRYc&feature=related Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 19 June, 2009 Share Posted 19 June, 2009 What zeeee fook is a golden share? Bit like a Golden Shower....but not as nice as Golden Wonder... Basically the only p1ss poor leg that some old Tory Wet can stand on in a very very weak argument... 'Ex-MP in ar$ehole shocker' Link to comment Share on other sites More sharing options...
Spades Posted 19 June, 2009 Share Posted 19 June, 2009 What zeeee fook is a golden shower? ... Link to comment Share on other sites More sharing options...
simo Posted 19 June, 2009 Share Posted 19 June, 2009 So the fa wont sing it off because they have structured the deal so it shows sfc and slh are 2 companys hence missing the minus 10 points? Link to comment Share on other sites More sharing options...
St Will Posted 19 June, 2009 Share Posted 19 June, 2009 So the fa wont sing it off because they have structured the deal so it shows sfc and slh are 2 companys hence missing the minus 10 points? Football league not FA Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 19 June, 2009 Share Posted 19 June, 2009 http://www.youtube.com/watch?v=jyYZUhSeRYc&feature=related I went to bed last night thinking it was like Xmas Eve when I was a kid...now I'm waking up on Xmas Day to realise that my Mum forgot to put the oven on... ARRRGGHHH...had the same feeling when I had planned to attend the 'first' EGM only for Rupey Baby to ruin it all and resign on the Friday before... Link to comment Share on other sites More sharing options...
bjk Posted 19 June, 2009 Share Posted 19 June, 2009 This aint happening is it. Link to comment Share on other sites More sharing options...
Saintandy666 Posted 19 June, 2009 Share Posted 19 June, 2009 I said share, not shower. I am quite aware of what a Golden Shower is! Now, is there anyone out there who is actually helpful? Link to comment Share on other sites More sharing options...
Block 5 Posted 19 June, 2009 Share Posted 19 June, 2009 Did we honestly believe that something would happen today? Have we learnt nothing? Link to comment Share on other sites More sharing options...
St Will Posted 19 June, 2009 Share Posted 19 June, 2009 Step being so pessimistic and defeatist everyone.....there's still time yet. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 19 June, 2009 Share Posted 19 June, 2009 I said share, not shower. I am quite aware of what a Golden Shower is! Now, is there anyone out there who is actually helpful? Ease up Andy...I was trying to be ironic...must have come across as Moronic...apologies.. The Golden Share is really like the 'ticket to compete' within the FL. Without it, you aren't able to play....so basically the FL have our ball and won't let us play with it. They won't necessarily return our 'Share' unless we meet their requirements. Link to comment Share on other sites More sharing options...
simo Posted 19 June, 2009 Share Posted 19 June, 2009 Step being so pessimistic and defeatist everyone.....there's still time yet. Yeh 77 mins!:confused: Link to comment Share on other sites More sharing options...
Thorpe-le-Saint Posted 19 June, 2009 Share Posted 19 June, 2009 This is doing my ****ing head in! Every other club (with the exception of Coventry) seem to have so much ease in getting all this sort of crap sorted! Link to comment Share on other sites More sharing options...
1976_Child Posted 19 June, 2009 Share Posted 19 June, 2009 So the deal is off and that means that Fry has to liquidate the assets of the club which means that St. Mary's Young Men's Association F.C is no more and we can all go down the pub and get liver disease. Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 19 June, 2009 Share Posted 19 June, 2009 Just read on the 606 rumour mill that apparantly although there is a definate fact that the FL are holding back the deal there are also issues from pinnicles point of view and the deal is collapsing on account of monetary reasons. Now, i don't believe the latter however that is what i have read. http://www.bbc.co.uk/dna/606/A53419764 Link to comment Share on other sites More sharing options...
simo Posted 19 June, 2009 Share Posted 19 June, 2009 press release at 7! Link to comment Share on other sites More sharing options...
sussexsaint Posted 19 June, 2009 Share Posted 19 June, 2009 My greatest hope when this does finally all go through is that we can rebuild ourselves not only as a team but as a fanbase as well. We have become so jaded, pessimistic and mistrustful over the last few years that it is becoming destructive. Oh to finally only be talking about football and potential signings that the endless backroom stuff. When I was a kid supporting the team I couldn't even have told you who the chairman was. Link to comment Share on other sites More sharing options...
saint_stevo Posted 19 June, 2009 Share Posted 19 June, 2009 Ease up Andy...I was trying to be ironic...must have come across as Moronic...apologies.. The Golden Share is really like the 'ticket to compete' within the FL. Without it, you aren't able to play....so basically the FL have our ball and won't let us play with it. They won't necessarily return our 'Share' unless we meet their requirements. Apparently you can play without it? Link to comment Share on other sites More sharing options...
Saintandy666 Posted 19 June, 2009 Share Posted 19 June, 2009 Ease up Andy...I was trying to be ironic...must have come across as Moronic...apologies.. The Golden Share is really like the 'ticket to compete' within the FL. Without it, you aren't able to play....so basically the FL have our ball and won't let us play with it. They won't necessarily return our 'Share' unless we meet their requirements. Ahahaha, thankyou Link to comment Share on other sites More sharing options...
Spades Posted 19 June, 2009 Share Posted 19 June, 2009 press release at 7! says who? Link to comment Share on other sites More sharing options...
Thorpe-le-Saint Posted 19 June, 2009 Share Posted 19 June, 2009 press release at 7! Source? Link to comment Share on other sites More sharing options...
Spades Posted 19 June, 2009 Share Posted 19 June, 2009 Ahahaha, thankyou just to clarify though.. a golden shower is when you wee on someone Link to comment Share on other sites More sharing options...
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