Pancake Posted 1 April, 2009 Share Posted 1 April, 2009 Please use this thread to discuss the goings on at SLH and SFC today. Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 I dont think we are deep in the mire but it is only a guess based on this from the Echo Derby County provided the precedent which has seen Saints avoid a 10-point deduction for their parent company going into administration. Back in October 2003, when ex-Saints boss George Burley was in charge at Pride Park, the Rams' parent company Derby County PLC were taken into receivership by the Co-op bank with debts of around £30m. But Derby County Football Club, a seperate organisation under the umbrella of the Derby County PLC company, were not taken into administration and had no points deduction. Within minutes of Derby County Ltd going into receivership, a consortium took over from them and that company ceased to exist. So we may have new owners Link to comment Share on other sites More sharing options...
Oz Posted 1 April, 2009 Share Posted 1 April, 2009 april fool Link to comment Share on other sites More sharing options...
DT Posted 1 April, 2009 Share Posted 1 April, 2009 I dont think we are deep in the mire but it is only a guess based on this from the Echo Derby County provided the precedent which has seen Saints avoid a 10-point deduction for their parent company going into administration. Back in October 2003, when ex-Saints boss George Burley was in charge at Pride Park, the Rams' parent company Derby County PLC were taken into receivership by the Co-op bank with debts of around £30m. But Derby County Football Club, a seperate organisation under the umbrella of the Derby County PLC company, were not taken into administration and had no points deduction. Within minutes of Derby County Ltd going into receivership, a consortium took over from them and that company ceased to exist. So we may have new owners From that I would say that George Burley's bar bill is the constant thread causing financial meltdown... Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 Has it been announced that we are going into administration. Where does that come from?? Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 Has it been announced that we are going into administration. Where does that come from?? No, it hasnt been announced that we (SLH) are in administration. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 No, it hasnt been announced that we (SLH) are in administration. But it's highly likely, is that it? Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 Has it been announced that we are going into administration. Where does that come from?? No not yet but probably SLH not the football club Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 But it's highly likely, is that it? Honestly dont know mate. Anyhting I (or anyone else) find out for FACT will be posted on the "What is going on at SFC - FACTS" thread. Rumours and discussions can stay on here to make it easier for people to read. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 Honestly dont know mate. Anyhting I (or anyone else) find out for FACT will be posted on the "What is going on at SFC - FACTS" thread. Rumours and discussions can stay on here to make it easier for people to read. Thanks a lot. Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 Honestly dont know mate. Anyhting I (or anyone else) find out for FACT will be posted on the "What is going on at SFC - FACTS" thread. Rumours and discussions can stay on here to make it easier for people to read. Thanks for putting on these two threads I was getting confused with so many threads Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 I dont think we are deep in the mire but it is only a guess based on this from the Echo Derby County provided the precedent which has seen Saints avoid a 10-point deduction for their parent company going into administration. Back in October 2003, when ex-Saints boss George Burley was in charge at Pride Park, the Rams' parent company Derby County PLC were taken into receivership by the Co-op bank with debts of around £30m. But Derby County Football Club, a seperate organisation under the umbrella of the Derby County PLC company, were not taken into administration and had no points deduction. Within minutes of Derby County Ltd going into receivership, a consortium took over from them and that company ceased to exist. So we may have new owners A very interesting bit of info there, thanks John I wasnt aware of this. Link to comment Share on other sites More sharing options...
hypochondriac Posted 1 April, 2009 Share Posted 1 April, 2009 A very interesting bit of info there, thanks John I wasnt aware of this. It's on the echo website... Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 It's on the echo website... TBF, I havent really had time to read the Echo in full, what with all the real world work and Modding on here! Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 Mind you if it transpired that the only people who really get shafted in all this (apart from the shareholders of course) are a set of bankers, I might consider that on a par with beating Utd 6-3. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 1 April, 2009 Share Posted 1 April, 2009 They've just had Illingsworth on Solent...that didn't take long. Stated the obvious (to us on here at least) regarding the club's problems, urging all to attend on Sat. Only if Lowe and Wilde resign today for this mess Nick.. Link to comment Share on other sites More sharing options...
Saint Fan CaM Posted 1 April, 2009 Share Posted 1 April, 2009 april fool If this is an April fool, someone needs to be strung up for what must be the most inappropriate joke in the history of rubbish jokes. :mad: Link to comment Share on other sites More sharing options...
hypochondriac Posted 1 April, 2009 Share Posted 1 April, 2009 It's never simple with saints is it. No admin the points deduction, there are always extra bits and shady goings on and dealings. Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 http://www.southampton.vitalfootball.co.uk/article.asp?a=149575 Merrington feels sorry for the fans. No extra or new news, just he feelings I guess. Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 http://www.southampton.vitalfootball.co.uk/article.asp?a=149575 Merrington feels sorry for the fans. No extra or new news, just he feelings I guess. Yes spouting the obvious unfortunately Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 Why are the BBC not running with this story as a second place behind Shearer at Newcastle? Link to comment Share on other sites More sharing options...
SaintBobby Posted 1 April, 2009 Share Posted 1 April, 2009 SKY SPORTS NEWS reporting the story now. Seem to think SLH £27m in debt. But also said that St. Mary's was built in 2005, the year we were relegated. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 April, 2009 Share Posted 1 April, 2009 Looking at the AIM statemnet, what is clear is that we have had our shares suspended tdue to AIM rules on publicatio of half yearly accounts within 3 months not having been done - SLH say they are trying to refinance before publication, but that is why shares have been suspended.... does this inevitably mean administration? Would guess the odds are high, but its not certain - In teh annual audited accounts, it mentioned that if the club struggled to remain a going concern, funding would be saught from with the existing shaeholders - this may mean Lowe, Wilde even Crouch and the shareholders are currently scrabling around for funds, or making alot of phone calls! Whatever, is happening, its sad that there appear to be some fan who think it represents the perfect 'I told you so' schardenfreude moment - but thes etend to be those too blinkered to realise that this has never been about personalities or the mistakes made by individuals, but is about a much bigger picture - the truth is we wont be the only ones... Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 Why are the BBC not running with this story as a second place behind Shearer at Newcastle? Much bigger news I would have thought If I supported another club I would be more interested in Newcastle than Southampton I did not even know before today that Derby went into Administration Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 Looking at the AIM statemnet, what is clear is that we have had our shares suspended tdue to AIM rules on publicatio of half yearly accounts within 3 months not having been done - SLH say they are trying to refinance before publication, but that is why shares have been suspended.... does this inevitably mean administration? Would guess the odds are high, but its not certain - In teh annual audited accounts, it mentioned that if the club struggled to remain a going concern, funding would be saught from with the existing shaeholders - this may mean Lowe, Wilde even Crouch and the shareholders are currently scrabling around for funds, or making alot of phone calls! Whatever, is happening, its sad that there appear to be some fan who think it represents the perfect 'I told you so' schardenfreude moment - but thes etend to be those too blinkered to realise that this has never been about personalities or the mistakes made by individuals, but is about a much bigger picture - the truth is we wont be the only ones... True: Posts on threads about "administration/point's deduction etc : 12458, posts on fact thread: 1 Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 Much bigger news I would have thought If I supported another club I would be more interested in Newcastle than Southampton I did not even know before today that Derby went into Administration Darlington going into Admin as hot news on the website and the TV broadcasts a few weeks back. Something is niggling me here. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 April, 2009 Share Posted 1 April, 2009 They've just had Illingsworth on Solent...that didn't take long. Stated the obvious (to us on here at least) regarding the club's problems, urging all to attend on Sat. Only if Lowe and Wilde resign today for this mess Nick.. NOt quite sure why we think Lowe and wilde resigning now would be some sort of good news... they may have contributed to the mess, or they may not until we see the state of the finances when they inherited to how it is now - and then again somethings such a scontracts cant always be interfered with anyway. You can also bet they are fighting like hell right now to re-finance and get us out of this mess - the club and they themselves have a huge amount riding on this - We need to satrt differentiating the two - the footballing mistakes and the finance, because I susupect that although the footballing mistakes may have compounded teh problem, the financial mess was the priority - its way too simplistic to assume this could all have been avoided had crouch stayed or someone else had been in charge - I doubt that would have been the case, and its pointelss trying to argue this agian...and again.... and again... we should right now be hoping that these guys come up with some cash that helps us til the season end at least, we avoid relegation andthat the extra TV money next season goes some way to alieviating the problem. 'Looking forward; to a club without Lowe, relegated on -10 points and in admin, is naive beyond comprehension. Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 True: Posts on threads about "administration/point's deduction etc : 12458, posts on fact thread: 1 Well, that thread is locked... Link to comment Share on other sites More sharing options...
SaintBobby Posted 1 April, 2009 Share Posted 1 April, 2009 Posted (a version of) this elsewhere - would welcome thoughts: SLH defaults on the mortgage on SMS (this seems to be the overwhelming part of our debt) and hands over the keys to Norwich Union (unclear on timing - probably when we have our last three games out of the way). The debt is written off, SLH wound up and Norwich Union have a pretty useless asset on their hands - the only possible buyer being a sports club in Southampton with many thousands of supporters. A "reborn" Southampton Football Club then buys back the stadium for a song. The bulk of the existing SLH debt ends up being shouldered by NU's shareholders. Saints are reborn (probably in League One) with v limited debt round our necks. Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 Darlington going into Admin as hot news on the website and the TV broadcasts a few weeks back. Something is niggling me here. Newcastle is big news Again did not know about Darlington although I look at BBC News fifty times a day Everything is going to be OK McGoldrick to score five goals for us in April Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 Posted (a version of) this elsewhere - would welcome thoughts: SLH defaults on the mortgage on SMS (this seems to be the overwhelming part of our debt) and hands over the keys to Norwich Union (unclear on timing - probably when we have our last three games out of the way). The debt is written off, SLH wound up and Norwich Union have a pretty useless asset on their hands - the only possible buyer being a sports club in Southampton with many thousands of supporters. A "reborn" Southampton Football Club then buys back the stadium for a song. The bulk of the existing SLH debt ends up being shouldered by NU's shareholders. Saints are reborn (probably in League One) with v limited debt round our necks. Are Aviva (N.U) in the government's toxic debt programme? Couldn't be better, cheap(er) and better football on the taxpayer. Utopia this way ladies and gents. Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 Newcastle is big news I understand that, but they havent even got any information on the actually Southampton section; just the news about Gillet. The news was formally put public 4 hours ago but rumoured last night... the BBC cant have NOTHING ready, not even a few lines... very odd. I mean, Sky news had it as Breaking News on the yellow ticker this morning at 7.20. Link to comment Share on other sites More sharing options...
John B Posted 1 April, 2009 Share Posted 1 April, 2009 I understand that, but they havent even got any information on the actually Southampton section; just the news about Gillet. The news was formally put public 4 hours ago but rumoured last night... the BBC cant have NOTHING ready, not even a few lines... very odd. I mean, Sky news had it as Breaking News on the yellow ticker this morning at 7.20. I think the Southampton content is the Responsibility of our Local BBC not Central Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 1 April, 2009 Share Posted 1 April, 2009 I understand that, but they havent even got any information on the actually Southampton section; just the news about Gillet. The news was formally put public 4 hours ago but rumoured last night... the BBC cant have NOTHING ready, not even a few lines... very odd. I mean, Sky news had it as Breaking News on the yellow ticker this morning at 7.20. I don't think BBC talk about anything until it has been announced properly! Think they have got stung in past Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 April, 2009 Share Posted 1 April, 2009 Very true. But those "I told you so people" won't be the ones worrying about the future of the club, as it rarely seems to be the priority for them. Even when they've been wrong 99% of the time, they tend to spout so much drivel that at least some of it sadly either ends up being right, or they convince themselves they're right. It's irritating at the very least, but insignificant compared to the goings on at the club now. Just have to hope this can actually be a good thing, with no points deductions and investment coming forward. I think we'll be fine, points deduction wise, for this season, but long term we're screwed (as are many other clubs) unless things change. Indeed - a great example was Stanley - not bothering to comment on the sad stae of affairs, but trying to have a go at the 'lowe luvvies' - pathetic considering there is no such thing, just fans who have regulary tried to view things from all different perspectives and have given merit when its actually been due - right now, Lowe and Wilde will stop at nothing to raise cash and get us trading again... and at prsent thats their priority. for us fans its a big crowd on saturday and cheering the lads to 3 points Link to comment Share on other sites More sharing options...
ohwhenthesaints Posted 1 April, 2009 Share Posted 1 April, 2009 http://news.bbc.co.uk/sport1/hi/football/teams/s/southampton/7976473.stm It is possible that moves to put the club's parent company, rather than the club itself, into administration will save it from having points docked by the Football League. However, if a significant proportion of the club's debt is wiped out by such a move, it could still be at the discretion of the League whether a penalty is imposed. Hmm. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 April, 2009 Share Posted 1 April, 2009 I don't think BBC talk about anything until it has been announced properly! Think they have got stung in past BUt they can mention the share suspension and the reason for it - SLH not having posted their half yearly ac****s yet as this is a public statement to teh LSE/AIM... so find it odd that the beeb have neglected to mention it... Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 Thanks BBC, make me look like a complete mug! Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 April, 2009 Share Posted 1 April, 2009 Thanks BBC, make me look like a complete mug! not the only one...;-) Link to comment Share on other sites More sharing options...
Saint Billy Posted 1 April, 2009 Share Posted 1 April, 2009 I am just hoping some white knight will come in and save us ala Derby. Davies and Frost were mentioned on another thread, how much mileage in that one I dont know, I suspect not as I don't believe so called fans of the club would leave it till this late in the day to make a move. But here's hoping in the old silver lining scenario. Link to comment Share on other sites More sharing options...
Pancake Posted 1 April, 2009 Author Share Posted 1 April, 2009 I am just hoping some white knight will come in and save us ala Derby. Davies and Frost were mentioned on another thread, how much mileage in that one I dont know, I suspect not as I don't believe so called fans of the club would leave it till this late in the day to make a move. But here's hoping in the old silver lining scenario. Of course, a fan might not have left it til this late in the day, maybe their previous movements had been rebuffed. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 I am just hoping some white knight will come in and save us ala Derby. Davies and Frost were mentioned on another thread, how much mileage in that one I dont know, I suspect not as I don't believe so called fans of the club would leave it till this late in the day to make a move. But here's hoping in the old silver lining scenario. Davies and Frost have been mentioned on virtually every thread since 1888,nothing has ever happened to date and probably never will. Idem Salz,Fulthorpe,Merrington, Paul Allen, Tom Gurney etc etc Link to comment Share on other sites More sharing options...
SaintBobby Posted 1 April, 2009 Share Posted 1 April, 2009 Slight impression I'm getting (from media reports) is that we may have a bit longer than I first feared to sort this out. SLH statement says we couldn't continue over a twelve month period. The bloke on SSN thought we needed to find a buyer in the Summer. Link to comment Share on other sites More sharing options...
Saint Billy Posted 1 April, 2009 Share Posted 1 April, 2009 Davies and Frost have been mentioned on virtually every thread since 1888,nothing has ever happened to date and probably never will. Idem Salz,Fulthorpe,Merrington, Paul Allen, Tom Gurney etc etc Agreed, I just find it hard to believe that there is nobody interested or has been interested in buying us especially now when we are going on the cheap. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 1 April, 2009 Share Posted 1 April, 2009 Agreed, I just find it hard to believe that there is nobody interested or has been interested in buying us especially now when we are going on the cheap. Who says we're going on the cheap?? This fact has never been scientifically established. The shares are cheap but as they can't be traded (oh dear, what a pity, never mind)..... There are debts and those will need paying, same as now. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 1 April, 2009 Share Posted 1 April, 2009 Agreed, I just find it hard to believe that there is nobody interested or has been interested in buying us especially now when we are going on the cheap. Thing is its still 30 mil of debt so not cheap even at a pound! Plus inheriting a buisness that is obviously still unable to meet its liabilities with its revenues... with fans who expect on the field success, player purchases of better quality and keeping the higher wage earning better players, yet cant be arsed to turn up? Great value proposition? Link to comment Share on other sites More sharing options...
Saint Billy Posted 1 April, 2009 Share Posted 1 April, 2009 Who says we're going on the cheap?? This fact has never been scientifically established. The shares are cheap but as they can't be traded (oh dear, what a pity, never mind)..... There are debts and those will need paying, same as now. In comparison to say Birmingham (if they where up for sale) or Wolves etc, we would surely be a cheaper option. Although shares seem to be suspended, does that mean we cannot be sold? I am sure Derby were in an almost identical position but got sold at the last moment. Link to comment Share on other sites More sharing options...
EdgarAllanPoe Posted 1 April, 2009 Share Posted 1 April, 2009 The problem here is this; if there is no buyer and an administrator is appointed his first job will be to provide the best terms for the creditors. The football club doesn't own the stadium. With the holding company in administration and the creditors up in arms, the administrator owns the stadium. How likely is the administrator to allow the football club free use of the stadium? Where would the football club get the money to pay the players? Who owns the players registrations? If it is the football club, the parent compay has no obligation to pay them. If it doesn't, then all registrations revert to the league. If there is no new owner on the horizon the administrator would be duty bound to seize all gate receipts for each game for the creditors leaving nothing to pay the players. Link to comment Share on other sites More sharing options...
sidthesquid Posted 1 April, 2009 Share Posted 1 April, 2009 I don't think BBC talk about anything until it has been announced properly! Think they have got stung in past Suspension of shares has been announced Link to comment Share on other sites More sharing options...
ladysaint Posted 1 April, 2009 Share Posted 1 April, 2009 Can anyone tell me what happens to loan players or new contracts for the players if we did go into administration. Link to comment Share on other sites More sharing options...
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