Barclays: "Significantly increase attendances" AND "sell players"

[trousers]

In a statement to Sky News Barclays said:

 

“Southampton Leisure Holdings needed to significantly increase match attendance, sell players and raise further investment.

 

"These objectives were not met by previous management, but we believe these aims are reasonable and will work closely with all parties concerned to help achieve them.”

 

http://news.sky.com/skynews/Home/Business/Randall-Southampton-FC-Former-Chairman-Blames-Management-And-Bank-For-Clubs-Financial-Woes/Article/200904115257792?lid=ARTICLE_15257792_RandallSouthamptonFCFormerChairmanBlamesManagementAndBankForClubsFinancialWoes

Welcome to planet Banking everyone

[Draino76]

Good for Barclays! Lowe leaves and the attendance instantly increases by over 10k.

[Give it to Ron]

In a statement to Sky News Barclays said:

 

“Southampton Leisure Holdings needed to significantly increase match attendance, sell players and raise further investment.

 

"These objectives were not met by previous management, but we believe these aims are reasonable and will work closely with all parties concerned to help achieve them.”

 

http://news.sky.com/skynews/Home/Business/Randall-Southampton-FC-Former-Chairman-Blames-Management-And-Bank-For-Clubs-Financial-Woes/Article/200904115257792?lid=ARTICLE_15257792_RandallSouthamptonFCFormerChairmanBlamesManagementAndBankForClubsFinancialWoes

Welcome to planet Banking everyone

 

The funniest bit for me is the bit about club wasting money on transfers and players....

Delgado was great, so was Gasmi, Pulis, Forecast, Schneiderling all of course signed by his predecessor in 2006 when he was not here.....oh hold on!

Its quite amusing to read the luvvies like NC, John B, the Nicks and of course loveable old rosey cheeks thrashing about like wounded sharks attacking anything and everyone bar themselves.

[stevegrant]

Good for Barclays! Lowe leaves and the attendance instantly increases by over 10k.

Of course, it had absolutely nothing to do with the massive drop in the price and the "all hands to the pump" rallying call based on the very immediate crisis that had just exploded.

 

All hail Barclays, that responsible lender who allowed SLH to borrow £6.5m after approximately the same level of revenue had instantly disappeared with the end of the parachute payments, and then kicked up a fuss despite the company then spending 15% of its revenue attempting to reduce said borrowing.

 

Christ. :confused:

[Draino76]

Of course, it had absolutely nothing to do with the massive drop in the price and the "all hands to the pump" rallying call based on the very immediate crisis that had just exploded.

 

All hail Barclays, that responsible lender who allowed SLH to borrow £6.5m after approximately the same level of revenue had instantly disappeared with the end of the parachute payments, and then kicked up a fuss despite the company then spending 15% of its revenue attempting to reduce said borrowing.

 

Christ. :confused:

 

 

If Barclays didn't pull the plug Lowe would still be here, and for that reason, I love Barclays and want to have its children.

[Charlie Wayman]

But SLH plc IS NOT SFC so its none of their damned business

[lordswoodsaints]

Fookin mace em.......I would.

[jonah]

If Barclays didn't pull the plug Lowe would still be here, and for that reason, I love Barclays and want to have its children.

 

I suspect you are at the age where that would be illegal even if Barclays was desperate enough and had had a couple of Bacardi Breezers?

[rallyboy]

Yes the banks have certainly done us proud in the last year, especially Barclays when they jeopardised the whole club for £6K beyond the overdraft.

Their management of the club's situation has been appalling, they had the power to lean on Lowe long ago, and a succesful club is in their interests if they want to see any of their money.

 

 

And to put our overdraft into a banking context - Barclays last week confirmed that president Bob Diamond's 2009 income is capped at £250,000 -

 

plus £7.4m bonus.

[OldNick]

His assessment after 2006 was fair, his refusal not to mention the cost of relegation leaves him open to accusation of trying to gloss it over.

As i have constantly stated he is not the only one to blame but his reluctance to accept that he'd played a part is very disappointing.

[Weston Super Saint]

Yes the banks have certainly done us proud in the last year, especially Barclays when they jeopardised the whole club for £6K beyond the overdraft.

Their management of the club's situation has been appalling, they had the power to lean on Lowe long ago, and a succesful club is in their interests if they want to see any of their money.

 

 

And to put our overdraft into a banking context - Barclays last week confirmed that president Bob Diamond's 2009 income is capped at £250,000 -

 

plus £7.4m bonus.

 

Last week it was £110k.

 

This week it's £6k!

 

You sound quite jealous of Mr Diamond's bonus package! To put it in context, Giles Thorley [Punch Taverns], in 2007 earnt a salary of £150k

 

 

Plus £11m bonus

 

I guess people that run companies that make a profit earn bonuses :smt102

[stevegrant]

If Barclays didn't pull the plug Lowe would still be here, and for that reason, I love Barclays and want to have its children.

Fantastic. So you'd rather compromise the very existence of SFC just so you can say "Lowe's gone!"? Just fantastic.

[Draino76]

I suspect you are at the age where that would be illegal even if Barclays was desperate enough and had had a couple of Bacardi Breezers?

 

Does the '76' part of my username help? LOL. Ok, it seems you lot were happy with the status quo. Leave things how they are, we're doin just great with Lowe, Wilde, Askham and co at the helm. Their shares are now worth NOTHING, and this is thoroughly deserved. Maybe you are the lunatic fringe that Lowe was warning Barclays about?

 

This week, they are gone. Attendance is up, and we have 31 enquries about the club. Under the previous admistration we had about 2 in 3 years.

 

Thankyou Barclays once again.

[um pahars]

In a statement to Sky News Barclays said:

 

“Southampton Leisure Holdings needed to significantly increase match attendance, sell players and raise further investment.

 

"These objectives were not met by previous management, but we believe these aims are reasonable and will work closely with all parties concerned to help achieve them.”

 

http://news.sky.com/skynews/Home/Business/Randall-Southampton-FC-Former-Chairman-Blames-Management-And-Bank-For-Clubs-Financial-Woes/Article/200904115257792?lid=ARTICLE_15257792_RandallSouthamptonFCFormerChairmanBlamesManagementAndBankForClubsFinancialWoes

 

 

Welcome to planet Banking everyone

 

I think the two statements are indeed in conflict, but at the same time you have to admit that we didn't give ourselves the best chance with regards the first one when we went down the Revolutionary Coaching Set Up.

 

That decision definitely cost us points on the pitch and £££'s in the bank due to falling attendances.

 

I also agree that Barclay's have acted in a somewhat knee jerk manner and I would have thought they would have been more than willing to accept a stepped repayment considering their willingness less than two years ago to allow us to go overdrawn. Maybe they did indeed lose confidence in Lowe????

 

Additionally, I'm somewhat surprised that we didn't do more to ensure we stayed within these new limits as we ceratinly had a chance in the January window to raise funds (even if it was a firesale!!!, which why uncomfortable would have been better than where we now find ourslelves!!!!!) and maybe even do other things to try and get some funds in (sale of other assets, short term investment etc)

[um pahars]

His assessment after 2006 was fair, his refusal not to mention the cost of relegation leaves him open to accusation of trying to gloss it over.

As i have constantly stated he is not the only one to blame but his reluctance to accept that he'd played a part is very disappointing.

 

Wey hey, I agree with you. What is the world coming to??????

 

There were some very poor decisions post May 2007 (and those people should also be held to account), but his desire to blame all of our ills on that one/two year period, conveniently ignoring the mistakes pre and post that era just show him up to be somewhat deluded.

 

These interviews have had nothing to do with Saints and all to do with Lowe, Lowe and Lowe.

[jonah]

Does the '76' part of my username help?

 

IQ?

[70's Mike]

I think the two statements are indeed in conflict, but at the same time you have to admit that we didn't give ourselves the best chance with regards the first one when we went down the Revolutionary Coaching Set Up.

 

That decision definitely cost us points on the pitch and £££'s in the bank due to falling attendances.

 

I also agree that Barclay's have acted in a somewhat knee jerk manner and I would have thought they would have been more than willing to accept a stepped repayment considering their willingness less than two years ago to allow us to go overdrawn. Maybe they did indeed lose confidence in Lowe????

 

Additionally, I'm somewhat surprised that we didn't do more to ensure we stayed within these new limits as we ceratinly had a chance in the January window to raise funds (even if it was a firesale!!!, which why uncomfortable would have been better than where we now find ourslelves!!!!!) and maybe even do other things to try and get some funds in (sale of other assets, short term investment etc)

 

agreed

funny thing is rupert has conviently forgotten the first 7 months of this season just like he tried to wipe out all history of the club before 97.

he also appears to have forgotten messrs Wigley, Gray and JP.

SELECTIVE memory disorder ?

[trousers]

Point of curiosity....in the Talksport interview Lowe reveals that our Account Manager at Barclays is a Saints fan!

 

Ever so slightly ironic and/or amusing in a gallows kinda way

[jonah]

As i have constantly stated he is not the only one to blame but his reluctance to accept that he'd played a part is very disappointing.

 

Does this count?

 

""Everybody who has been involved in the club, whether that's the board, everybody, has to bear a little bit of the blame."

[Draino76]

IQ?

 

At least double it, bad boy.

[OldNick]

IQ?

feling generous today Jonah...only kidding Draino but I wonder in 3 weeks time if those buyers dont stump up waht your thoughts will be then.

You could go and express interest the whole of the memebers of Pompey online could do so, it means nothing except every enquiry is a cost to the club that the Administrator will be delighted to chage for.

[jonah]

Point of curiosity....in the Talksport interview Lowe reveals that our Account Manager at Barclays is a Saints fan!

 

Sadly another example of why fans do not make good decisions when it comes to running football clubs - they rule with their hearts, not their heads. And then Head Office overrule them the week after the transfer window shuts on us.

[jonah]

feling generous today Jonah...only kidding Draino but I wonder in 3 weeks time if those buyers dont stump up waht your thoughts will be then.

You could go and express interest the whole of the memebers of Pompey online could do so, it means nothing except every enquiry is a cost to the club that the Administrator will be delighted to chage for.

 

Exactly nickh, I'm afraid some people need to wake up to 2 facts - the administrators are a business and they will extract the maximum fees possible. The more stupid bids they receive, the more money they make "processing" them. Secondly, for all their PR they don't really give a stuff about SFC - they just want a buyer that will satisfy the creditors and earn them their final fee. It could be the worst deal for SFC but it won't matter to them or the creditors.

[OldNick]

Does this count?

 

""Everybody who has been involved in the club, whether that's the board, everybody, has to bear a little bit of the blame."

I have mentioned that elsewhere Jonah, but to have peace, the fans (not me by the way) would like acceptance of his part.To bundle it together just looks like deflection.

His assessment after his removal is fair and correct.Some of the anti Lowe people on here have softened their stance slightly and perhaps also accepting that now it is coming into the open the disservice other people have done to the club.

[Draino76]

Point of curiosity....in the Talksport interview Lowe reveals that our Account Manager at Barclays is a Saints fan!

 

Ever so slightly ironic and/or amusing in a gallows kinda way

 

Well done! A true fan.

[OldNick]

Point of curiosity....in the Talksport interview Lowe reveals that our Account Manager at Barclays is a Saints fan!

 

Ever so slightly ironic and/or amusing in a gallows kinda way

WAS a Saints fan, i think Lowe said he was there until 2008.

Nobody has picked it up yet and surprised the anti's haven't when he spoke about the Barclays man being a fan he said 'that is the problem having a fan run the club' ,he seemed to falter slightly as he realised he had left an open goal..he has been a fan for the last 12 years.Lol but I now what he meant as that fan who allows his heart to rule his head.

[70's Mike]

What i still cannot understand is this.

I am currently working helping a business that has needed reorganizeing , it is up to its overdraft limit at the end of each month and we have to control the cheques we send out because the bank has warned the directors that they will not meet any payments which take them above their overdraft limit.

So why did SLH not have better control on its day to day finances, surely some payments could have been held up until the income from the next home game would have been banked.

[um pahars]

I have mentioned that elsewhere Jonah, but to have peace, the fans (not me by the way) would like acceptance of his part.To bundle it together just looks like deflection.

 

You're quite right nickh in that packaging it all up together is not really the same, particularly when in all of his high prfile TV and radio interviews the line he is spouting is that it happened when he was not on the bridge. In the interviews I have heard/seen he is absolutely adamant that the reason for our demise ccurred when he was away.

 

His assessment after his removal is fair and correct.Some of the anti Lowe people on here have softened their stance slightly and perhaps also accepting that now it is coming into the open the disservice other people have done to the club.

 

I would disagree. I think his insistence that it had nothing to do with him just reinforces people's view on how delusional he is/was.

 

Most people have always accepted that there have been many failings in recent years and many people should take their share of the blame, it is only a few loonies, and Lowe himself, who don't think some people are not to blame.

Edited 8 April, 2009 by um pahars

[um pahars]

'that is the problem having a fan run the club'

 

I would have countered that we have also seen the problems having "businessmen" run the club.

[trousers]

Sadly another example of why fans do not make good decisions when it comes to running football clubs - they rule with their hearts, not their heads. And then Head Office overrule them the week after the transfer window shuts on us.

 

Unless of course said Saints fan wanted Lowe out.....? Hmmm....I feel a conspiracy theory coming on

[ericofarabia]

Maybe SFC (SLH :roll:) should write to all the banks suggesting how they can all cut their own debts and not rely on Tax Payers money to bail them out :smt115

 

Admittedly Barclays didn't take the tax payers money route but I think got bailed out by money from the Middle East ... pity we can't do the same

 

It really naffs me off the way the banks can close down famoily businesses, new enterprises and football clubs, yet can't even keep their own books in order :mad:

 

As said though, if it was the only way to oust the dark lord, so long as it has a happy ending then que sera sera I guess.

[Nineteen Canteen]

Unless of course said Saints fan wanted Lowe out.....? Hmmm....I feel a conspiracy theory coming on

 

That's unlike you Trousers, mind you at this rate judging by the reaction of some to the more reasonable assessments of our situation the Holy Grail maybe easier to find than a investor that meets everyone's requirements.

 

Perhaps we should merge with Salisbury.

 

The last thing we need now apparently is a businessman or a Saints fan. Going to be tough.

[DaveyR]

Unless of course said Saints fan wanted Lowe out.....? Hmmm....I feel a conspiracy theory coming on

 

I personally could buy into that. The bank realised that while Lowe was at the helm things would not improve hence pulling the plug as soon as Saints inched over the overdraft.

More than likely the only way to get rid of him as he would not go, even in the "good" times!!

Like a bad smell I hope he doesn't come back again as he will always split the fan base.

[bridge too far]

That's unlike you Trousers, mind you at this rate judging by the reaction of some to the more reasonable assessments of our situation the Holy Grail maybe easier to find than a investor that meets everyone's requirements.

 

Perhaps we should merge with Salisbury.

 

The last thing we need now apparently is a businessman or a Saints fan. Going to be tough.

 

:shock:

 

My jellies are well and truly jarred!

[Nineteen Canteen]

I personally could buy into that. The bank realised that while Lowe was at the helm things would not improve hence pulling the plug as soon as Saints inched over the overdraft.

More than likely the only way to get rid of him as he would not go, even in the "good" times!!

Like a bad smell I hope he doesn't come back again as he will always split the fan base.

 

Seriously, you could buy into this theory? Trousers give up the day job and start writing books the fantasists will love it.

[Gemmel]

Seriously, you could buy into this theory? Trousers give up the day job and start writing books the fantasists will love it.

 

I could well be wrong, but i read that statement as Barclays lost confidence in lowe.

 

As Fry is a Saints fan, he would have known the thoughts of the masses towards Mr lowe.

[alpine_saint]

In a statement to Sky News Barclays said:

 

“Southampton Leisure Holdings needed to significantly increase match attendance, sell players and raise further investment.

 

"These objectives were not met by previous management, but we believe these aims are reasonable and will work closely with all parties concerned to help achieve them.”

 

http://news.sky.com/skynews/Home/Business/Randall-Southampton-FC-Former-Chairman-Blames-Management-And-Bank-For-Clubs-Financial-Woes/Article/200904115257792?lid=ARTICLE_15257792_RandallSouthamptonFCFormerChairmanBlamesManagementAndBankForClubsFinancialWoes

Welcome to planet Banking everyone

 

Funny, I would have thought anyone speaking on Barclays behalf regarding the issues facing SFC would be more than a clueless d**khead where football is concerned.

 

Sell players and raise attendances - yes of course, the bleeding obvious formula for that has been under Lowe's nose all along

[chappers]

As much as i dislike RL, Barclays have probably done the same thing to other businesses. I know for a fact they cut money paid to suppliers, as my firm is one of them.....why....because they could.

 

Therefore, as for Barclays like the other banks in the same mess (caused by them) , then it makes sense to get its customers to repay some of the debt just to relieve the strain on Barclays.

 

If anyone else who work for a firm that works with Barclays and has suffered the same thing, i'd like to know.

 

At the end of the day SFC has been a victim of poor management from inside the club on a variety of important issues ....but the killer appears to be the lack of due diligence shown by Barclays by lending us money we could never afford ......and then demanding back without negotiation !

 

Lets hope at least 1 out of 31 intersted parties can

a) put us on a sound financial footing and

b) run it like a football club .....like we used to be !

 

COYR.

[Saint Richard of Woolston]

Funny, I would have thought anyone speaking on Barclays behalf regarding the issues facing SFC would be more than a clueless d**khead where football is concerned.

 

Sell players and raise attendances - yes of course, the bleeding obvious formula for that has been under Lowe's nose all along

 

LOL, v good. BTW, is this you coming into the Lowe Camp, Alpine?

[dubai_phil]

Unless of course said Saints fan wanted Lowe out.....? Hmmm....I feel a conspiracy theory coming on

 

 

 

Actually.......

 

 

 

That would make a good start for part 2 of a book if the full story ever comes out

 

 

 

The King is Dead, Long Live the King if we aren't very careful

 

(as in is there actually a football club chairman who doesn't get any stick?)

[EastleighSoulBoy]

His assessment after 2006 was fair, his refusal not to mention the cost of relegation leaves him open to accusation of trying to gloss it over.

As i have constantly stated he is not the only one to blame but his reluctance to accept that he'd played a part is very disappointing.

 

Nick, are you naive enough to expect him to accept any part in the demise of Saints?

 

Sniff sniff hmmmmmmm! Just love that Kenco!

[alpine_saint]

LOL, v good. BTW, is this you coming into the Lowe Camp, Alpine?

 

Hardly, but I recgonise what prize arseholes bankers can be.

 

After all, Lowe is one of them too, along with such luminaries such as Sir Fred "F**kwit" Goodwin

[Frank's cousin]

Does the '76' part of my username help? LOL. Ok, it seems you lot were happy with the status quo. Leave things how they are, we're doin just great with Lowe, Wilde, Askham and co at the helm. Their shares are now worth NOTHING, and this is thoroughly deserved. Maybe you are the lunatic fringe that Lowe was warning Barclays about?

 

This week, they are gone. Attendance is up, and we have 31 enquries about the club. Under the previous admistration we had about 2 in 3 years.

 

Thankyou Barclays once again.

 

Which part of 'we will only survive if we actually do find new investment ' dont you and your big IQ understand? Yup Lowe has gone as a result of dministration - admionistration that could lead to liquidation if no buyer is found - something which you seem prepared to put up with JUST to satisfy your hatred of one man? So who will you support if we go under, or perhaps who is it you reallly support now?

[SaintRobbie]

In a statement to Sky News Barclays said:

 

“Southampton Leisure Holdings needed to significantly increase match attendance, sell players and raise further investment.

 

"These objectives were not met by previous management, but we believe these aims are reasonable and will work closely with all parties concerned to help achieve them.”

 

http://news.sky.com/skynews/Home/Business/Randall-Southampton-FC-Former-Chairman-Blames-Management-And-Bank-For-Clubs-Financial-Woes/Article/200904115257792?lid=ARTICLE_15257792_RandallSouthamptonFCFormerChairmanBlamesManagementAndBankForClubsFinancialWoes

Welcome to planet Banking everyone

 

The key bit that should be in bold is SEEK INVESTMENT. Lowe failed to attract any for some strange incompetent reason. That's why Barclay's sacked him. No investment and bounced a cheque.

[alki_in_korea]

Exactly nickh, I'm afraid some people need to wake up to 2 facts - the administrators are a business and they will extract the maximum fees possible. The more stupid bids they receive, the more money they make "processing" them. Secondly, for all their PR they don't really give a stuff about SFC - they just want a buyer that will satisfy the creditors and earn them their final fee. It could be the worst deal for SFC but it won't matter to them or the creditors.

 

I thought they had to find a suitable suiter for both parties so that we don't fall into this mess again.sure i read it when leeds were up the **** but may well be just drunk n sprouting ********

[Weston Super Saint]

That's unlike you Trousers, mind you at this rate judging by the reaction of some to the more reasonable assessments of our situation the Holy Grail maybe easier to find than a investor that meets everyone's requirements.

 

Perhaps we should merge with Salisbury.

The last thing we need now apparently is a businessman or a Saints fan. Going to be tough.

 

I bet you're glad your buddy pointed you in that direction eh?

 

How are those stronger links between the two clubs coming along??

[Draino76]

Which part of 'we will only survive if we actually do find new investment ' dont you and your big IQ understand? Yup Lowe has gone as a result of dministration - admionistration that could lead to liquidation if no buyer is found - something which you seem prepared to put up with JUST to satisfy your hatred of one man? So who will you support if we go under' date=' or perhaps who is it you reallly support now?[/quote']

 

My big 'IQ' has understood for years that with Lowe at the club, we had no club. Yes the position we are in is precarious, but it a necessity. Where on earth do you think we would be in 3 years time if Lowe was in charge? 3 more years with the owners not finding investment, or heaven forbid dipping their hands into their own pocket. 3 more years of a disunited fanbase, relegation etc. Would Barclays be right to continue to fund this business as a viable entity? F.u.c.k. no.

 

Today there are 31 enquries to buy. Sure 25 may be tyre-kickers and 1 maybe from the group of ****s that got us into this **** today, but maybe, OK probably, the 1 chosen will be much be better for the club going forward. The champers is on ice.

[Weston Super Saint]

Which part of 'we will only survive if we actually do find new investment ' dont you and your big IQ understand? Yup Lowe has gone as a result of dministration - admionistration that could lead to liquidation if no buyer is found - something which you seem prepared to put up with JUST to satisfy your hatred of one man? So who will you support if we go under' date=' or perhaps who is it you reallly support now?[/quote']

 

And which part of Lowe's tiny little mind didn't understand that after the last set of company accounts were released which said EXACTLY the same thing?

 

It makes you wonder why he wasn't looking for investment doesn't it?

[John B]

I would have countered that we have also seen the problems having "businessmen" run the club.

 

Yes but not total incompetance as was the case in 2006-2008 when Lowe was not in charge

[Weston Super Saint]

Yes but not total incompetance as was the case in 2006-2008 when Lowe was not in charge

 

Dutch revolution