The Golden Share

[Guided Missile]

The only asset worth having, from my standpoint. Any new owners don't need to own the ground, just play there. they don't need to own the players contracts, they need new players. They don't need to keep the points, they need to rebuild the team in a less competitive league.

What they do need is the "Golden Share", which the Footbal League hold and which may be tougher to get, if new owners come in and think they can p!$$ the Football League about. Read this and prepare for how much worse it could get for us.

[um pahars]

Absolutely, and within reason, if the League want to do something they will be able to do it.

 

If you don't like the League rules you can always go and find another League to play in.

 

But if you do want to be in their Club, then you have to accept what they dish out.

[ludgershallsaint]

Absolutely, and within reason, if the League want to do something they will be able to do it.

 

If you don't like the League rules you can always go and find another League to play in.

 

But if you do want to be in their Club, then you have to accept what they dish out.

 

So if that is the case why are they mucking about. If it is all down to what they want they could have just said on tuesday -10, like it or lump it.

[Torres]

Absolutely, and within reason, if the League want to do something they will be able to do it.

 

If you don't like the League rules you can always go and find another League to play in.

 

But if you do want to be in their Club, then you have to accept what they dish out.

 

Except the Football League still have to behave within their own rules and guidelines.

[um pahars]

So if that is the case why are they mucking about. If it is all down to what they want they could have just said on tuesday -10, like it or lump it.

 

I think it probably came around too quickly for them to make a decision one way or the other.

 

IMHO they can play it by the rule book and let us off (but they want to make sure they do not open themselves up to attack from the other 71 members)

 

OR

 

They can invoke some catch all clause (but in this instance they need to make sure they're watertight from attacks from us).

 

I think they probably know what they want to do, it's just they're now working behind the scenes trying to justify that decision and making their case watertight.

[Smirking_Saint]

Surely though, it's going to be about damage limitation.

 

At the moment the rules state it is the football club that has to enter admin, ours has not, and nor did derby when they were let off.

 

 

The clubs that have had deductions were not in the same situation and also had other misdemeanors. (not going into it we all know the relevant stories)

 

So.. the way i see it is, they are going to get it in the neck either way, however if they give us the points deduction and take them to court we obviously have a strong case that we could concievably win, and so the FL would have to act on a ruling against them, probably largly compensate.

 

But, if they let us off, due to the rules in place currently, and then shut the loophole then the other clubs are less likely to win a case against us and FL as the rules were there to be exploited and situations are different.

 

This is why i believe we may get away with it, although everyone will then hate us.

[Lord Duckhunter]

If we aren't deducted the 10 points, then the League will not be able to withhold the Golden Share, as the Club would not have been in Admin. However, If the League proved the Club went into Admin and we can not exit with a CVA, we have to accept any terms the League impose on us to get it back. It could be payback time for Lowe's loophole.To receive their share the Club have to sign their right of legal action away.

[Window Cleaner]

Surely though, it's going to be about damage limitation.

 

At the moment the rules state it is the football club that has to enter admin, ours has not, and nor did derby when they were let off.

 

 

The clubs that have had deductions were not in the same situation and also had other misdemeanors. (not going into it we all know the relevant stories)

 

So.. the way i see it is, they are going to get it in the neck either way, however if they give us the points deduction and take them to court we obviously have a strong case that we could concievably win, and so the FL would have to act on a ruling against them, probably largly compensate.

 

But, if they let us off, due to the rules in place currently, and then shut the loophole then the other clubs are less likely to win a case against us and FL as the rules were there to be exploited and situations are different.

 

This is why i believe we may get away with it, although everyone will then hate us.

 

Derby weren't let off, the 10 point deduction was not yet in force.

Also their debts were paid speedily and they moved on .

I would think it depends really who is going to buy the club and for how much. If there is a serious buyer with significant cash within a short period the FL may not impose the penalty as a sort of "welcome" gesture.However if it's just a tinpot consortium with all the old lags involved scraping the barrel to get their hands on the train set again I think we'll get shafted, maybe even 10 extra for good measure.

[stevegrant]

To receive their share the Club have to sign their right of legal action away.

Didn't stop Leeds...

 

(although obviously their appeal was rejected, eventually)

[Smirking_Saint]

Derby weren't let off, the 10 point deduction was not yet in force.

Also their debts were paid speedily and they moved on .

I would think it depends really who is going to buy the club and for how much. If there is a serious buyer with significant cash within a short period the FL may not impose the penalty as a sort of "welcome" gesture.However if it's just a tinpot consortium with all the old lags involved scraping the barrel to get their hands on the train set again I think we'll get shafted, maybe even 10 extra for good measure.

 

I am posting believing that whomever takes over is prepared to transfer all debts etc.

[Rational Rich]

If we aren't deducted the 10 points, then the League will not be able to withhold the Golden Share, as the Club would not have been in Admin. However, If the League proved the Club went into Admin and we can not exit with a CVA, we have to accept any terms the League impose on us to get it back. It could be payback time for Lowe's loophole.To receive their share the Club have to sign their right of legal action away.

 

Yep. Also if shares in SFCL are transferred to the new buyer (which is what I understand is proposed) the "golden share" remains in SFCL and the then the league won't have a transfer of it to approve or not.

[Lord Duckhunter]

Didn't stop Leeds...

 

(although obviously their appeal was rejected, eventually)

 

My understanding was Leeds appeal was to the other FL Clubs, they could not resort to the courts, as this right was signed away.

[Guided Missile]

Yep. Also if shares in SFCL are transferred to the new buyer (which is what I understand is proposed) the "golden share" remains in SFCL and the then the league won't have a transfer of it to approve or not.

I would be suprised if a potential buyer purchases the shares in Southampton Football Club Ltd. unless they pay enough to satisfy all the creditors in full. There will be contingent liabilities going with the shares and I would have thought a new owner would want a clean break with certain knowledge that someone like Barclays, Notts County et al will not be coming after him....