um pahars Posted 24 April, 2009 Share Posted 24 April, 2009 Derry, who I understand is close to some of the action through SOS, replied to a post of mine last night indicating that unless a buyer comes in quickly then the Club will cease to exist and go straight into liquidation, effectively missing out administration for the Football Club. This would also appear to be the line coming from Crouch and others, in that we will fold at the end of the season, if no buyer can be found. Others have pointed out that mnay Clubs go into administration and bumble along for a bit, so why will we be so different??? Why are we apparently on course for dong an Aldershot as opposed to a Leeds??? Just what is the situation with the Club and it's finances??? I can understand people's reluctance to help out if they think we haven't reached rock bottom yet and their point throwing money at the situation at the moment is not the done thing as we haven't even gone into "administration" yet. I know some people just think starting again in the Lower Leagues is OK with them (which is fair enough), but I also get the impression that many are holding back for something to happen (i.e. administration of the Football Club or some sort of appeal to come out the other side), but will this be happening or should we be doing something now??? Are we really a fortnight or so away from ceasing to exist???? Link to comment Share on other sites More sharing options...
Fitzhugh Fella Posted 24 April, 2009 Share Posted 24 April, 2009 The "stay awyay" fans have simply got to buy a ticket tomorrow. Link to comment Share on other sites More sharing options...
Gingeletiss Posted 24 April, 2009 Share Posted 24 April, 2009 I think Ums........that you know more about how things are run, than most. My take on it!!. I can see it happening, because, other than players, we have no assets, they all belong to SLH, who, as we know, are in administration. In short, we have nothing to sustain us, other than the fan base. Link to comment Share on other sites More sharing options...
Pilchards Posted 24 April, 2009 Share Posted 24 April, 2009 If Mark Fry put out a statement saying that Southampton Football Club will fold on Monday at midday unless it found a buyer then I reckon someone will come forward to save our club. No messing from Mr Fry now, Tell it how it is please that you have 3 days ONLY or we fold for good. If thats not the case then continue how you are and stop allowing the likes of Crouch. LM, Illingworth etc giving us hints that we are on the brink FULLSTOP. Link to comment Share on other sites More sharing options...
Katalinic Posted 24 April, 2009 Share Posted 24 April, 2009 In the press conference yesterday Mark Fry stated that the intention was that one of the interested parties would atke over the club "before the money runs out". I can't see therefore that we are only a few days from oblivion. Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 24 April, 2009 Share Posted 24 April, 2009 I think we have two parties either in due dilligence or completing today! that sounds hopeful in itself, just hope the prospective buyers see it through!! League 1 is here and I can cope with it, liquidation I can't!! Link to comment Share on other sites More sharing options...
solentstars Posted 24 April, 2009 Share Posted 24 April, 2009 I think we have two parties either in due dilligence or completing today! that sounds hopeful in itself, just hope the prospective buyers see it through!! League 1 is here and I can cope with it, liquidation I can't!!hopefully it will happen but i believe the club could go still under and that worries me bigtime. Link to comment Share on other sites More sharing options...
Fan The Flames Posted 24 April, 2009 Share Posted 24 April, 2009 Is still find it difficult to believe that a club our size will cease to exist. Aldershot, Maidstone and Newport County were all small clubs and their lack of size contributed to them going pop. We are a good size club that can limp to the end of the season and someone will want to get involved with us. Whilst we need the cash the attendance on Saturday has no bearing on whether we get bought or not. Link to comment Share on other sites More sharing options...
derry Posted 24 April, 2009 Share Posted 24 April, 2009 (edited) Firstly I think one of the problems and it is not confirmed that the bank overdraft is the clubs and the creditors are the club's The shareholdings and the assets are owned by SLH in administration. Secondly it only needs one of the creditors, say Cedar Press to run out of patience then it is winding up as there would not be enough to fund administration, whereas SLH has assets, the lodge, the farm. and staplewood. and the sale of these would fund administration. Edited 24 April, 2009 by derry Link to comment Share on other sites More sharing options...
derry Posted 24 April, 2009 Share Posted 24 April, 2009 I think we have two parties either in due dilligence or completing today! that sounds hopeful in itself, just hope the prospective buyers see it through!! League 1 is here and I can cope with it, liquidation I can't!! It looks like about three weeks before the buying process could complete. It is conceivable that the final buyer could help but there isn't one yet. It is surviving to be sold is the issue, furthermore last week there were worries we didn't have enough to even stage the Burnley game. Listen people, it is that bad. You better believe it, because we have to keep the club going somehow. Crouch is keeping it going at the moment. Link to comment Share on other sites More sharing options...
solentstars Posted 24 April, 2009 Share Posted 24 April, 2009 It looks like about three weeks before the buying process could complete. It is conceivable that the final buyer could help but there isn't one yet. It is surviving to be sold is the issue, furthermore last week there were worries we didn't have enough to even stage the Burnley game. Listen people, it is that bad. You better believe it, because we have to keep the club going somehow. Crouch is keeping it going at the moment. i just hope we make it threw to a buyer ,i just want this great club to survive. Link to comment Share on other sites More sharing options...
aintforever Posted 24 April, 2009 Share Posted 24 April, 2009 Can someone explain what Barclays/Aviva have to gain through forcing liquidation? How much would they get if the club was liquidated? SMS is worthless as anything other than a football stadium, the council have made it pretty clear that is all it will ever be used for. As long as there is 15-20 thousand people willing to pay £20 a go to watch a game of football there, surely it makes it worthwhile for the bank to keep the club running? Also if we are that close to liquidation why not flog that farmland, Staplewood or the academy? Link to comment Share on other sites More sharing options...
Horley CTFC Saint Posted 24 April, 2009 Share Posted 24 April, 2009 If Saints do go under perhaps someone will buy the stadium and Pompey FC and move the franchise to Southampton to give the town Premiership Football. Then maybe to show that its a new start for Pompey they could maybe change the club strip to something like Red & White Stripes and as they will be playing at the St Mary's Stadium and not in Portsmuff perhaps a good would be The Southampton Saints. Seems like a plan Link to comment Share on other sites More sharing options...
Ken Tone Posted 24 April, 2009 Share Posted 24 April, 2009 I think we have two parties either in due dilligence or completing today! that sounds hopeful in itself, just hope the prospective buyers see it through!! League 1 is here and I can cope with it, liquidation I can't!! I can't see anyone completing today, or even very soon if we are only in early stage of due diligence. 'Due diligence' is however a somewhat elastic term. Quite often big flash City law firms are employed to do this. They can do a good job or a rushed job, or a very expensive, fairly good, rushed job! Normally takes a couple of weeks or so. Can be done in a few days, depending on how diligent you want to be and how much you want to spend. An administrator is presumably required to be very diligent to ensure that the creditors will get what the buyer promises. From the buyer's side, it is up to him, and how fussy his backers are .... how visible our skeletons in the cupboard already are. K. Link to comment Share on other sites More sharing options...
SaintRichmond Posted 24 April, 2009 Share Posted 24 April, 2009 because we won't get the crowds to break even, so it's more debt the more it keeps running. so it's better in that way for the stadium to sit there unused, financially speaking. Football Fans are Fickle .... no matter what part of the country ... their "Allegience" is bound by ONE thing ....... SUCCESS For example .... just for illustration purposes, IF Man U went pear shaped, and lost every game, not only would they not gain points, but their attraction would suffer, and their gates would drop accordingly Saints HAVE demonstrated that they CAN fill St Mary's ( circa 32k ) Now, of course, in Div 1, it is unlikely to be bursting at the seams, but with a WINNING Team riding high, we would IMHO average well over 20K, and the more SUCCESSFUL we become, the more ATTRACTIVE we become, ( as a "product" ) Leeds have demonstrated this, and so have Leicester It takes a hardened dedicated Fan to support an ailing Club ........ Saints STILL have that hard core base ....... just look what happened when we went on our winning streak of 3 wins ..... for thaty short period, we were ATTRACTIVE again Link to comment Share on other sites More sharing options...
Jackie@home Posted 24 April, 2009 Share Posted 24 April, 2009 As is usually the case when businesses fail, cash flow is the problem which finally finishes them off. It doesn't matter that you have assets that have the potential to be sold, you have to have actually sold them and got the hard cash to keep you going. Players cannot be sold outside the transfer window and property cannot be sold overnight. If you can't keep going until a purchaser comes in, it is a real possibility. We had a supplier who had a huge order with BA. He bought £60,000 worth of packaging to pack the order. They take 3 months to pay, he can't afford the ingredients to make the chocolates for the order because the banks have withdrawn their overdraft facility, he goes into liquidation. A classic mismanagement of resources. The point is Saints have got themselves in the same situation - lots of assets but now cannot sell season tickets because the banks have pulled the plug. If we hadn't been a football club, we would have already gone under, I'm sure. I've sent in a cheque because I'm more concerned about the club keeping going until a buyer is found rather than worrying about whether my particular funds pay the St. John's ambulance, the cleaners or BWP. Most of us can afford a small amount - the thought of us going out of business because thousands of us left it to everybody else to stick in their tenner is truly depressing. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 24 April, 2009 Share Posted 24 April, 2009 We will be sold very shortly. Link to comment Share on other sites More sharing options...
modern matron Posted 24 April, 2009 Share Posted 24 April, 2009 We will be sold very shortly. More please?? Link to comment Share on other sites More sharing options...
trousers Posted 24 April, 2009 Share Posted 24 April, 2009 We will be sold very shortly. What time? Am about to pop out for lunch - will I miss the announcement? Thanks Link to comment Share on other sites More sharing options...
mattyd Posted 24 April, 2009 Share Posted 24 April, 2009 the club will be wound up if it runs out of money and no funds are forthcoming. SLH will be wound up if nobody buys it Link to comment Share on other sites More sharing options...
Gingeletiss Posted 24 April, 2009 Share Posted 24 April, 2009 the club will be wound up if it runs out of money and no funds are forthcoming. SLH will be wound up if nobody buys it I think you'll find, that nobody is looking to buy it anyway. All they want are assets within SLH, ie SFC/Staplewood/The stadium etc, those elements that make a football club tick. Link to comment Share on other sites More sharing options...
Mole Posted 24 April, 2009 Share Posted 24 April, 2009 A small issue in some ways I know, but if the club is wound up, what happens to the Ted Bates statue? I hear the price of scrap bronze is quite high. Link to comment Share on other sites More sharing options...
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