Chez Posted 2 April, 2009 Share Posted 2 April, 2009 What kind of hit are AVIVA and Barclays willing to take I wonder? What are the assets really worth if we were liquidated such as the farm, the training ground and of course SMS? What is the monthly wage bill for April, May and June? Link to comment Share on other sites More sharing options...
slickmick Posted 2 April, 2009 Share Posted 2 April, 2009 Roger Johnson asked that question to the administrater. Link to comment Share on other sites More sharing options...
fletch Posted 2 April, 2009 Share Posted 2 April, 2009 To be honest, there are positives and negatives for buying. Plus: You probably will never get a Championship club so cheap again Down: No Fooker has any money because the economy is shot I have a horrible feeling there will be no takers - and then no club. Link to comment Share on other sites More sharing options...
Chez Posted 2 April, 2009 Author Share Posted 2 April, 2009 (edited) Is the farm land owned by the club or the PLC? Edited 2 April, 2009 by Chez Link to comment Share on other sites More sharing options...
buctootim Posted 2 April, 2009 Share Posted 2 April, 2009 For sale but for how much? I guess anyone who is prepared to take over the £1m debt, pay a realistic price for staplewood and can come up with a viable arrangment with Aviva to rent back the stadium - say £1.4 million pa is in with a good chance. Link to comment Share on other sites More sharing options...
Hatch Posted 2 April, 2009 Share Posted 2 April, 2009 How much for the stadium? Link to comment Share on other sites More sharing options...
gaz Posted 2 April, 2009 Share Posted 2 April, 2009 This was on The Echo: After the Daily Echo revealed the shock collapse of the company’s precarious financial situation yesterday, wealthy Saints fans were immediately offering cash to help it stay afloat. But the sums they are able to offer are likely to be dwarfed by the debt mountain that sees the money owed to Norwich Union on the £34m stadium standing at £24m, while the company owes more than £4m to Barclays Bank and has an array of other minor creditors. £40m-ish to buy it all, lock stock and clear the debts, plus a bit more for running it? Link to comment Share on other sites More sharing options...
mattyd Posted 2 April, 2009 Share Posted 2 April, 2009 This was on The Echo: £40m-ish to buy it all, lock stock and clear the debts, plus a bit more for running it? Administration is about the IP selling the assetts for as much as they can get. if £5 million came along they would accept if no other offers came. Most likely the estate will be sold in lots at auction. So the chances of us keeping the farm and the training ground may be small Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 April, 2009 Share Posted 2 April, 2009 I don't think my fiver is going to go very far!!! Link to comment Share on other sites More sharing options...
krissyboy31 Posted 2 April, 2009 Share Posted 2 April, 2009 But anyone buying the club wouldn't buy the stadium lock, stock and barrel, they may choose to pay off a chunk of the £24Million but would most certainly restructure the loan with Aviva. Link to comment Share on other sites More sharing options...
mattyd Posted 2 April, 2009 Share Posted 2 April, 2009 The unsecured creditors will rank with the shareholders and recieve very little if anything. The secured loansd will have to be renegotiated as they are technically defaulted on insolvency and can be called in. In reality the bond holders will do a deal to keep repayments coming in. The biggest winner is the IP who may charge several hundred pounds an hour to unwind the issues Link to comment Share on other sites More sharing options...
um pahars Posted 2 April, 2009 Share Posted 2 April, 2009 The biggest winner is the IP who may charge several hundred pounds an hour to unwind the issues Along with the lawyers as bods from Freshfield's don't come cheap!!!!!!! Link to comment Share on other sites More sharing options...
stevegrant Posted 2 April, 2009 Share Posted 2 April, 2009 But anyone buying the club wouldn't buy the stadium lock, stock and barrel, they may choose to pay off a chunk of the £24Million but would most certainly restructure the loan with Aviva. Spot on. I'm led to believe that Aviva haven't had any issue with our debt to them. They'll obviously be ****ting themselves now, mind you... Link to comment Share on other sites More sharing options...
Doctoroncall Posted 2 April, 2009 Share Posted 2 April, 2009 is the farm land owned by the club or the plc? plc Link to comment Share on other sites More sharing options...
Toomer Posted 2 April, 2009 Share Posted 2 April, 2009 I did not want to post this yesterday because of the date but I was behind a black Merc 4x4 with the reg K84 TES going by town quay.. Link to comment Share on other sites More sharing options...
OldNick Posted 2 April, 2009 Share Posted 2 April, 2009 The whole acadamy set up must be in peril.The players will train at the ground and then the pitch will be cut to pieces.The whole lot will spiral down.Any body wishing for Administraion will soon see the hard depressing thing unfold.Yes we may have rid the club of 1 man but the cost is so much. The club i have supported for 40 years is unravelling in fromnt of my eyes and I feel helpless. Lets hope there is osmeone out there who hurts like us and has the money Link to comment Share on other sites More sharing options...
OldNick Posted 2 April, 2009 Share Posted 2 April, 2009 I did not want to post this yesterday because of the date but I was behind a black Merc 4x4 with the reg K84 TES going by town quay.. Well it was supposed to be coming down south on the M3 this morning.Bates is a tax exilke in Monaco and so it may not be anytrhing to do with him. Link to comment Share on other sites More sharing options...
Window Cleaner Posted 2 April, 2009 Share Posted 2 April, 2009 This was on The Echo: £40m-ish to buy it all, lock stock and clear the debts, plus a bit more for running it? Yet another oxymoron to note down: Wealthy saints fans. Link to comment Share on other sites More sharing options...
southamptonfclegend Posted 2 April, 2009 Share Posted 2 April, 2009 To be honest, there are positives and negatives for buying. Plus: You probably will never get a Championship club so cheap again Down: No Fooker has any money because the economy is shot I have a horrible feeling there will be no takers - and then no club. TBH the kind of people who could buy are i club i doubt have been amazingly affected by the 'credit crunch' Link to comment Share on other sites More sharing options...
Chez Posted 2 April, 2009 Author Share Posted 2 April, 2009 The whole acadamy set up must be in peril.The players will train at the ground and then the pitch will be cut to pieces. not neccesarily. Youth devlopment existed long before stapleford and the academy. Its doesn't cost much to hire a pitch you know especially during the week. Link to comment Share on other sites More sharing options...
aintforever Posted 2 April, 2009 Share Posted 2 April, 2009 Surely it will be £1 to anyone wiling to take on the debts? Link to comment Share on other sites More sharing options...
Chez Posted 2 April, 2009 Author Share Posted 2 April, 2009 Surely it will be £1 to anyone wiling to take on the debts? is there not an opportunity here for the debts to be cleared by someone offering 25p in the pound or such like to the creditors? Link to comment Share on other sites More sharing options...
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