alpine_saint Posted 7 April, 2009 Share Posted 7 April, 2009 http://www.saintsfc.co.uk/articles/article.php?page_id=11604 According to Mark Fry, he's had from 15 to 20 enquiries, and the first setp has for those individuals or groups to prove they have the funds. Then comes the sharing of information and the meetings, which will take place end of this week or beginning next week. Why is it taking so long ? I am somewhat surprised that the first meetings have not yet taken place, especially as we have only about 3 weeks to do this.. British business and industry never ceases to amaze me with the amount of time it wastes... Link to comment Share on other sites More sharing options...
brightspark Posted 7 April, 2009 Share Posted 7 April, 2009 At the end of the day, when the deal is done it will be done in time, and the administrators will have selected who they feel was the best option. They take their time because maybe this best option has not become totally clear to them yet. Coventry had a 'similar' situation (although this was over only administration). They had to wait until the final hour for SISU to come in and save them. Hopefully it won't get that tight, although I won't be surprised if we don't hear about anything until the last couple of days. Link to comment Share on other sites More sharing options...
waggy Posted 7 April, 2009 Share Posted 7 April, 2009 ... and to quote Mark Fry from his OS piece, to which you have provided the link: "the process is already moving forward quickly" Link to comment Share on other sites More sharing options...
krissyboy31 Posted 7 April, 2009 Share Posted 7 April, 2009 TBH I think we've done remarkably well to get where we are now. Mark Fry has to now weed out all the time wasters, tyre kickers and no-goers to make up a short list of viable candidates (those are 2 words, after the last 12 to 18 months, I didn't think we'd ever see) and then find the one that gives the best long-term solution to SFC and more importantly, from his point of view, value to the creditors. Link to comment Share on other sites More sharing options...
dubai_phil Posted 7 April, 2009 Share Posted 7 April, 2009 From the pieces I have managed to put together so far, I think the magical word is likely to be "Due Process". As the administrator is the legal as well as moral custodian I would expect the whole thing to be very strictly controlled by law as to what happens in what order. Probably something like A group has to express an interest and contact the administrator The group has probably got to supply "proof of funds" (ie show they are serious) and then sign a Non-Disclosure Agreement (the reason I expect that we don't hear much in the way of leaks for a change) The administrator will then have to give them some form of documentation, something relating to the accounts I would guess and I would expect the parties need to have some form of meeting where each side can find out what needs to be done and whether it really is Rod Stewart :-) With 19 meetings so far to hold even at 30 minutes a meeting that is still around 2 days work as each one will need to be documented and then followed up, then no doubt there are meetings with the "advisors from the Directors Box" creditors and the like. The group must then do some form of due dilligence and I would hope that the Administrators have to as well (the whole fit & proper person test) And of course at some point offers will have to be made, examined, discussed with creditors etc So I guess that Mr Fry is under a severe amount of stress, being assualted on all sides by "people who know better" and likely not enjoying life so much at the moment. And I wouldn't expect to see much happen for 4 or 5 days at least apart from the whole FL points deduction meeting which (let's be fair) would also have an impact on how the groups bidding value the club. We'll likely need more cash in L1 than in the CCC to operate. Meanwhile the Directors of the Football Club have to keep the business running and fulfill fixtures so if we do have a real buyer, they have something to buy, hence all the appeals - all quite normal in "Corporate City Type World" IMHO and all that Link to comment Share on other sites More sharing options...
david in sweden Posted 7 April, 2009 Share Posted 7 April, 2009 http://www.saintsfc.co.uk/articles/article.php?page_id=11604 According to Mark Fry, he's had from 15 to 20 enquiries, and the first setp has for those individuals or groups to prove they have the funds. Then comes the sharing of information and the meetings, which will take place end of this week or beginning next week. Why is it taking so long ? I am somewhat surprised that the first meetings have not yet taken place, especially as we have only about 3 weeks to do this.. British business and industry never ceases to amaze me with the amount of time it wastes... I'm sure that we all share your concern Alpine, but it isn't an auction and Fry is going to get the best all round deal he can for the club (which for the time being - he controls). He said that most of the bids " aren't serious " - (which I read as); well-meaning but without big financial backing, and no prospect of long term renewal of the clubs fortunes. I don't believe that hewants to get case off his desk before Easter. Fry is also in business and he knows that a high-profile company reconstruction (like a football club) will also be good for his company's image. I'm sure he's keen to get the best deal he can, and won't allow any fast-talking entrepreneur to "steal " the club and exploit it. It's most interesting that there are a couple of " interesting bids " (according to various sources I've read)..which suggests that they will buy up the club with their " pocket money" and then cough up 10-20 million next season for a complete overhaul of the coaching / playing staff etc, and cover the running cost, and of salaries until we get on our feet again. That requires a good financial basis and long term commitment, and that's why it can't be an overnight deal. Let's also hope that we find an owner / chairman who knows what colours we play in, and won't need a GPS to find their way to SMS !! Link to comment Share on other sites More sharing options...
Saint Bones Posted 7 April, 2009 Share Posted 7 April, 2009 It was only the other day we went into administration.... Link to comment Share on other sites More sharing options...
skintsaint Posted 7 April, 2009 Share Posted 7 April, 2009 just an excuse for a moan...with the sums of money/debt/problems/assets that will be floating around its going to take time. Link to comment Share on other sites More sharing options...
JustMike Posted 7 April, 2009 Share Posted 7 April, 2009 I agree Alps, why does everything take so long to do in this country?? Link to comment Share on other sites More sharing options...
Wildgoose Posted 7 April, 2009 Share Posted 7 April, 2009 The question going through my mind is "can it be done in three weeks though?" That's the deadline isn't it? Link to comment Share on other sites More sharing options...
bungle Posted 7 April, 2009 Share Posted 7 April, 2009 Cor blimey. Alps having a whinge. Who wouldda thunk it?! Link to comment Share on other sites More sharing options...
Saint Fan CaM Posted 7 April, 2009 Share Posted 7 April, 2009 Oh dear - we're so bad in this country right? Try getting anything done in mainland Europe during August, then tell me we're the worst! lol Link to comment Share on other sites More sharing options...
gjphilsaint Posted 7 April, 2009 Share Posted 7 April, 2009 its quite possiblw that potential investors are waiting on the result of the FA meeting today... Link to comment Share on other sites More sharing options...
Chez Posted 7 April, 2009 Share Posted 7 April, 2009 if we are paying him by the hour why would he rush? Link to comment Share on other sites More sharing options...
Puddings and Monkeys Posted 7 April, 2009 Share Posted 7 April, 2009 its quite possiblw that potential investors are waiting on the result of the FA meeting today... Quite...but don't let sense and reason stop the miserable git having a moan. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 7 April, 2009 Share Posted 7 April, 2009 http://www.saintsfc.co.uk/articles/article.php?page_id=11604 According to Mark Fry, he's had from 15 to 20 enquiries, and the first setp has for those individuals or groups to prove they have the funds. Then comes the sharing of information and the meetings, which will take place end of this week or beginning next week. Why is it taking so long ? I am somewhat surprised that the first meetings have not yet taken place, especially as we have only about 3 weeks to do this.. British business and industry never ceases to amaze me with the amount of time it wastes... So tell us what's involved and why it shouldn't take so long? Link to comment Share on other sites More sharing options...
Scummer Posted 7 April, 2009 Share Posted 7 April, 2009 Moaning at 729am? Nothing like starting the day with a smile. Be fair adrian. He's an hour ahead of us. Link to comment Share on other sites More sharing options...
SaintRichmond Posted 7 April, 2009 Share Posted 7 April, 2009 http://www.saintsfc.co.uk/articles/article.php?page_id=11604 According to Mark Fry, he's had from 15 to 20 enquiries, and the first setp has for those individuals or groups to prove they have the funds. Then comes the sharing of information and the meetings, which will take place end of this week or beginning next week. Why is it taking so long ? I am somewhat surprised that the first meetings have not yet taken place, especially as we have only about 3 weeks to do this.. British business and industry never ceases to amaze me with the amount of time it wastes... Simple ... All prospective interested parties are waiting to see if Saints get docked 10 points..... THAT will mean automatic RELEGATION, and life in Div 1 THEN, those 15-20 enquiries will soon melt away ..... ...... enter Lowe, " The Saviour of Saints " Link to comment Share on other sites More sharing options...
INFLUENCED.COM Posted 7 April, 2009 Share Posted 7 April, 2009 So tell us what's involved and why it shouldn't take so long? Joe Bloggs(or Falsehope) "I'll buy the club" Mark Fry "show me the money" Joe Bloggs(or Falsehope) "Oh, didn't know I would have to do that" ad nauseum Link to comment Share on other sites More sharing options...
Leslie Charteris Posted 7 April, 2009 Share Posted 7 April, 2009 Am I right in thinking the administrators choose who buys up the bits from the wreckage that is SLH? If so, then I hope they do take their time and choose what is best for the long term future of SFC, not just take the first offer from someone with a suitcase full of cash! Perhaps due dilligence should apply to thought processes, too! Link to comment Share on other sites More sharing options...
Wopper Posted 7 April, 2009 Share Posted 7 April, 2009 The longer Mark Fry hangs it out the more money his firm make. Link to comment Share on other sites More sharing options...
Guided Missile Posted 7 April, 2009 Share Posted 7 April, 2009 British business and industry never ceases to amaze me with the amount of time it wastes... From a guy with over 8,000 posts to his name, many during working hours.... Link to comment Share on other sites More sharing options...
saintchristopher Posted 7 April, 2009 Share Posted 7 April, 2009 patience is a virtue!!!!! i know we would all like this over and done with but would you like mr fry rush this prossess and appoint another rupert lowe megalomaniac luvvy type or would you like him take a little bit of time and sell us to someone that does genuinely care about not only there investment but the meaning of southampton football club too and who will take us back to where we belong? i know we are on borrowed time but personally im going with the latter of the 2 Link to comment Share on other sites More sharing options...
alpine_saint Posted 7 April, 2009 Author Share Posted 7 April, 2009 Look, I have NO idea how long this sort of shiit takes. It's just a gut feeling that it is taking longer than I hoped that is worrying me. And no, its not a f**king excuse for a moan, its a genuine worry. Link to comment Share on other sites More sharing options...
alpine_saint Posted 7 April, 2009 Author Share Posted 7 April, 2009 From a guy with over 8,000 posts to his name, many during working hours.... My employer doesnt give a shiiit what I do as long as I deliver my work on target. Sorry I am not a snail-like dullard like you. Link to comment Share on other sites More sharing options...
NickG Posted 7 April, 2009 Share Posted 7 April, 2009 :confused:http://www.saintsfc.co.uk/articles/article.php?page_id=11604 According to Mark Fry, he's had from 15 to 20 enquiries, and the first setp has for those individuals or groups to prove they have the funds. Then comes the sharing of information and the meetings, which will take place end of this week or beginning next week. Why is it taking so long ? I am somewhat surprised that the first meetings have not yet taken place, especially as we have only about 3 weeks to do this.. British business and industry never ceases to amaze me with the amount of time it wastes... ... and to quote Mark Fry from his OS piece, to which you have provided the link: "the process is already moving forward quickly" mmmm! Link to comment Share on other sites More sharing options...
Capel Saint Posted 7 April, 2009 Share Posted 7 April, 2009 It does take a while for these things to be sorted out and is never a quick process. To be fair, if it takes only 3-4 weeks for the plc to go into administration and a firm offer made with firm financial backing to service the debt and take the club forward, that is fairly speedy. As someone said earlier in this post, it is better for Mr Fry to take a few days longer to get the right person and the best offwer, rather than to just accept the first offer on the table, just so a deal can get done. Another plus point is that at least Mr Fry is keeping the fans regularly up to date with what is going on. It makes a refreshing change from the last 2-3 years of crap that has come out from the various 'Boards'!! Link to comment Share on other sites More sharing options...
benjii Posted 7 April, 2009 Share Posted 7 April, 2009 My employer doesnt give a shiiit what I do as long as I deliver my work on target. Sorry I am not a snail-like dullard like you. Spot on. I hate waiting for French Fries. Link to comment Share on other sites More sharing options...
alpine_saint Posted 7 April, 2009 Author Share Posted 7 April, 2009 Another plus point is that at least Mr Fry is keeping the fans regularly up to date with what is going on. It makes a refreshing change from the last 2-3 years of crap that has come out from the various 'Boards'!! Agree completely. He seems like a nice, considerate chap (in as far as he can be). Link to comment Share on other sites More sharing options...
alpine_saint Posted 7 April, 2009 Author Share Posted 7 April, 2009 Spot on. I hate waiting for French Fries. Funnily enough, I do work on chips, just not that sort. Link to comment Share on other sites More sharing options...
trousers Posted 7 April, 2009 Share Posted 7 April, 2009 The longer Mark Fry hangs it out the more money his firm make. Which is why I find it slightly bemusing as to why the Administrators aren't duty bound to at least name the "15 to 20" suitors so that everything is transparent. Perhaps they have to show 'evidence' of the number of interested parties to an auditor to avoid accusations of conflict of interests? Link to comment Share on other sites More sharing options...
miserableoldgit Posted 7 April, 2009 Share Posted 7 April, 2009 Quite...but don't let sense and reason stop the miserable git having a moan. Oi!! Link to comment Share on other sites More sharing options...
bridge too far Posted 7 April, 2009 Share Posted 7 April, 2009 Which is why I find it slightly bemusing as to why the Administrators aren't duty bound to at least name the "15 to 20" suitors so that everything is transparent. Perhaps they have to show 'evidence' of the number of interested parties to an auditor to avoid accusations of conflict of interests? Probably falls under the 'commercial in confidence' catch-all, Trousers. I would reckon that the Administrator will carry out some sort of high level due diligence first to weed out the serious from the delusional and then maybe short-list, say, 3 serious contenders for in-depth analysis. Link to comment Share on other sites More sharing options...
SuperMikey Posted 7 April, 2009 Share Posted 7 April, 2009 For a second I thought this thread would be about this fella.. Link to comment Share on other sites More sharing options...
benjii Posted 7 April, 2009 Share Posted 7 April, 2009 Which is why I find it slightly bemusing as to why the Administrators aren't duty bound to at least name the "15 to 20" suitors so that everything is transparent. Perhaps they have to show 'evidence' of the number of interested parties to an auditor to avoid accusations of conflict of interests? Corporate takovers aren't "transparent" though. They are generally confidential. They don't have to say anything but obviously there is a large degree of public interest and there is also a sensible commercial reason for trying to offer fans encouragement that there is a decent future. Link to comment Share on other sites More sharing options...
OldNick Posted 7 April, 2009 Share Posted 7 April, 2009 (edited) Britain has gone to the dogs look how long it took Alpine to be deported...only kidding Alps..but it did take ages Lol Edited 7 April, 2009 by OldNick Link to comment Share on other sites More sharing options...
hypochondriac Posted 7 April, 2009 Share Posted 7 April, 2009 So basically Alpine knows nothing about how long this sort of thing should take but is concerned because in his mind it is too long. Leave it to the professional administrators perhaps? Link to comment Share on other sites More sharing options...
OldNick Posted 7 April, 2009 Share Posted 7 April, 2009 (edited) So basically Alpine knows nothing about how long this sort of thing should take but is concerned because in his mind it is too long. Leave it to the professional administrators perhaps?but it was going to be easy to get investment as soon as we went into administration.!!!! Lol There are people around and they have been looking for sometime, I know 100% for a fact RL was showing poeople around weeks and weeks ago. It is easy to express interest but when the fo sale tag goes up then it sorts the men from the boys. Im 85% sure we will get bought but it will be at the last moment Im sure. Edited 7 April, 2009 by OldNick Link to comment Share on other sites More sharing options...
bridge too far Posted 7 April, 2009 Share Posted 7 April, 2009 but it was going to be easy to get investment as soon as we went into administration. There are people around and they have been looking for sometime, I know 100% for a fact RL was showing poeople around weeks and weeks ago. It is easy to express interest but when the fo sale tag goes up then it sorts the men from the boys. Im 85% sure we will get bought but it will be at the last moment Im sure. I agree. I'm sure there'll be some sort of Mexican standoff. (BTF in agreement with NickH shocker :shock:) Link to comment Share on other sites More sharing options...
OldNick Posted 7 April, 2009 Share Posted 7 April, 2009 I agree. I'm sure there'll be some sort of Mexican standoff. (BTF in agreement with NickH shocker :shock:) I told you that you weren't good at picking your mates BTF Link to comment Share on other sites More sharing options...
alpine_saint Posted 7 April, 2009 Author Share Posted 7 April, 2009 So basically Alpine knows nothing about how long this sort of thing should take but is concerned because in his mind it is too long. Leave it to the professional administrators perhaps? No. I am going to barge into Begbie Taylor's offices and tell them what to do at gunpoint All I am saying really is that I was hope one clear cut interested party would have put its nose in front of all the others by now. Link to comment Share on other sites More sharing options...
dubai_phil Posted 7 April, 2009 Share Posted 7 April, 2009 One other point... How many times did all the public takeovers of Saints reach a conclusion? Perhaps it really IS better ve knows nuffink Link to comment Share on other sites More sharing options...
SaintRichmond Posted 7 April, 2009 Share Posted 7 April, 2009 but it was going to be easy to get investment as soon as we went into administration.!!!! Lol There are people around and they have been looking for sometime, I know 100% for a fact RL was showing poeople around weeks and weeks ago. It is easy to express interest but when the fo sale tag goes up then it sorts the men from the boys. Im 85% sure we will get bought but it will be at the last moment Im sure.[/QUOTE] A reasonable surmise nickh ...... but my only worry it will involve Mr Lowe Q : Would a Reverse Takeover bring it back to where it was before the Reverse Takeover ?? Rumour has it he was trying to buy us before Leisure Foldings went Admin ......... Link to comment Share on other sites More sharing options...
sadoldgit Posted 7 April, 2009 Share Posted 7 April, 2009 From a guy with over 8,000 posts to his name, many during working hours.... LOL, says it all. I wonder if Alpine's boss knows that he is paying for his on line therapy? Link to comment Share on other sites More sharing options...
Eastcowzer Posted 7 April, 2009 Share Posted 7 April, 2009 No. I am going to barge into Begbie Taylor's offices and tell them what to do at gunpoint All I am saying really is that I was hope one clear cut interested party would have put its nose in front of all the others by now. Mr Souness has got to count his [pennies before bidding Link to comment Share on other sites More sharing options...
sadoldgit Posted 7 April, 2009 Share Posted 7 April, 2009 I don't care how long as it takes so long as we get the right people in. Look what happened last time! Link to comment Share on other sites More sharing options...
alpine_saint Posted 7 April, 2009 Author Share Posted 7 April, 2009 I don't care how long as it takes so long as we get the right people in. Look what happened last time! ...and since, when your Messiah and chief architect of our downfall since 2004 returned... Link to comment Share on other sites More sharing options...
Stepgar Posted 7 April, 2009 Share Posted 7 April, 2009 http://www.saintsfc.co.uk/articles/article.php?page_id=11604 According to Mark Fry, he's had from 15 to 20 enquiries, and the first setp has for those individuals or groups to prove they have the funds. Then comes the sharing of information and the meetings, which will take place end of this week or beginning next week. Why is it taking so long ? I am somewhat surprised that the first meetings have not yet taken place, especially as we have only about 3 weeks to do this.. British business and industry never ceases to amaze me with the amount of time it wastes... Geez dude chill........... The announcement was only late last week!! I would rather it went to the wire and we got the right people in to take the club forward long term however nail biting it may be. Rather than than accept the first offer that comes in. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 7 April, 2009 Share Posted 7 April, 2009 Patience. Although I would reiterate: We need the right deal for the Club... not necessarily the right deal for the Bank. Link to comment Share on other sites More sharing options...
Blandford saint Posted 7 April, 2009 Share Posted 7 April, 2009 Wouldn't expect to hear anything for a while yet. When you are making this much of a financial commitment, and the amount of detail that is involved in a business of this size, it usually takes months - look how long Bournemouth's situation has dragged on for, and it's still not fully resolved. Investors will have to deal with their own banks - even more of a nightmare than usual at present. I heard on Friday that a consortium has been preparing a bid for 2 years, because it would include redeveloping the area around the stadium. This is bound to drag on until we are all worried it is too late, I fear. Link to comment Share on other sites More sharing options...
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