OldNick Posted 3 May, 2009 Share Posted 3 May, 2009 Nick, influence is not illegal where objective decisions are being made. It is decision-making based on a holistic view. There are more intangibles in society old friend than just black and white legal decisions. MPs should state our case to Fry... but only if necessary. The decision being made here directly influences the morale of the people of Southampton in potentially difficult times. That has political connertations. But the creditors will not be interested in an mp , but get as much as their money back as possible. We all would be the same if it wasn't our club and our money Link to comment Share on other sites More sharing options...
Joesaint Posted 3 May, 2009 Share Posted 3 May, 2009 I really don't like all this waiting. nerves getting to me would really really love my hero to be involved would be really great for saints. But above everything I want the saints to exist for my kids and the future, for me to. Link to comment Share on other sites More sharing options...
John B Posted 3 May, 2009 Share Posted 3 May, 2009 I really don't like all this waiting. nerves getting to me would really really love my hero to be involved would be really great for saints. But above everything I want the saints to exist for my kids and the future, for me to. Surely a City the size of Southampton will always have a football team Link to comment Share on other sites More sharing options...
St Landrew Posted 3 May, 2009 Share Posted 3 May, 2009 Surely a City the size of Southampton will always have a football team Was talking about this only a few minutes ago. I, myself needed reminding that when there is a time limit, takeovers always go to the wire. Remember, if Saints go out of existence, Norwich Union won't get their money, and neither will Barclays Bank. Any buyers will be waiting for them to blink. Keep your powder dry. This will go right to the last minute of the end of the season, and to the last pound coin. Link to comment Share on other sites More sharing options...
John B Posted 3 May, 2009 Share Posted 3 May, 2009 Was talking about this only a few minutes ago. I, myself needed reminding that when there is a time limit, takeovers always go to the wire. Remember, if Saints go out of existence, Norwich Union won't get their money, and neither will Barclays Bank. Any buyers will be waiting for them to blink. Keep your powder dry. This will go right to the last minute of the end of the season, and to the last pound coin. I agree but will we be docked anymore points Link to comment Share on other sites More sharing options...
sotonist Posted 3 May, 2009 Share Posted 3 May, 2009 But the creditors will not be interested in an mp , but get as much as their money back as possible. We all would be the same if it wasn't our club and our money The creditors don't get to choose though. In the end it's up to the admin to sort the deal. They have no input and pretty much zero redress if they don't like the results. It's up to the admin how he chooses to achieve the best for the creditors and as far as i know there's nobody he has to answer to. Link to comment Share on other sites More sharing options...
bridge too far Posted 3 May, 2009 Share Posted 3 May, 2009 The creditors don't get to choose though. In the end it's up to the admin to sort the deal. They have no input and pretty much zero redress if they don't like the results. It's up to the admin how he chooses to achieve the best for the creditors and as far as i know there's nobody he has to answer to. I don't think that's right. I think the creditors have to agree in order for a CVA to be issued. The bigger the creditor the bigger say he has, surely? After all, the Administrator is appointed by the creditor(s). Link to comment Share on other sites More sharing options...
Micky Posted 3 May, 2009 Share Posted 3 May, 2009 http://www.pinnacleproperty.net/contact.htm It doesn't bode well that these people can't even spell 'correspondence' on their own website. Makes them look like a bunch of amateurs. The whole website looks like it was built by a 14 year old on a day work experience. Hardly exudes the sort of web presence you would expect of a multi million pound company. Lets just hope that 'look' and 'first impressions' prove decieving. Link to comment Share on other sites More sharing options...
sotonist Posted 3 May, 2009 Share Posted 3 May, 2009 I don't think that's right. I think the creditors have to agree in order for a CVA to be issued. The bigger the creditor the bigger say he has, surely? After all, the Administrator is appointed by the creditor(s). As i understand it a CVA is just a mechanism for a company to shed some of its debt and continue trading. That's a different issue to how the Administrator seeks to raise funds to pay the creditors. If the club and stadium are sold by the PLC there will be little point in seeking a CVA as the company will have no ongoing business. Link to comment Share on other sites More sharing options...
up and away Posted 3 May, 2009 Share Posted 3 May, 2009 Originally Posted by Delmary Le Tiss is in talks with local property consultant about joining consortium. The local consultant is representing a wealthy property developer. Well if it fits in with the brothers who did the Chelsea barrcks development we have some proper money behind them Why would anyone with real money require someone else to represent them (the local consultant, not Matt)? As much as we love Matt, if you are looking at bringing him into the bid it all looks extremely weak. Matt's talents lie elsewhere and the only reason someone would get him involved, would be to drum up the pennies and placate the fans. Everything I have heard makes me believe there is no real money out there, just the usual idiots scratching around. Th proof of funds has determined they have some capital and assets, but it does not guarantee they can afford to spare but a fraction of that. Link to comment Share on other sites More sharing options...
bridge too far Posted 3 May, 2009 Share Posted 3 May, 2009 As i understand it a CVA is just a mechanism for a company to shed some of its debt and continue trading. That's a different issue to how the Administrator seeks to raise funds to pay the creditors. If the club and stadium are sold by the PLC there will be little point in seeking a CVA as the company will have no ongoing business. I think there's a difference between a CVA (Creditors' Voluntary Arrangement) and a CVA (Creditors' Voluntary Agreement). I think the latter applies to us: Company voluntary agreement A company voluntary agreement is similar to an informal arrangement but a registered Insolvency Practitioner (IP) - who specialises in advising failing companies - is brought in to negotiate with the creditors. The IP will call a creditors' meeting to present your repayment plan and if 75% (by value) of creditors vote for the arrangement, it is binding on all parties. Once agreement is reached, it is formalised by the court. From this article: http://www.lawyerlocator.co.uk/article/overview_of_insolvency_.html Link to comment Share on other sites More sharing options...
eelpie Posted 3 May, 2009 Share Posted 3 May, 2009 I think there's a difference between a CVA (Creditors' Voluntary Arrangement) and a CVA (Creditors' Voluntary Agreement). I think the latter applies to us: Hair-splitting? Link to comment Share on other sites More sharing options...
SW11_Saint Posted 3 May, 2009 Share Posted 3 May, 2009 I wonder if Matt is truly involved in this bid, or whether they just see him as a "trump card" in terms of fan approval. Regardless, if there are other better offers - in terms of financials, and/or business acumen - I'd still go with the alternatives, even if it meant passing up Le Tiss on the board. The next Board of this club MUST be the right fit to get us moving onwards and upwards. Also, who's to say other consortia won't also potentially use Matty in some way. Link to comment Share on other sites More sharing options...
bridge too far Posted 3 May, 2009 Share Posted 3 May, 2009 Hair-splitting? No, I don't think so: What is a Company Voluntary Arrangement (CVA)? A company voluntary arrangement is a recognised legal procedure, under the provisions of the Insolvency Act of 1986 that enable a company to enter into a binding agreement with its creditors detailing how the company's debts and liabilities will be dealt with, and allows the directors to retain the control of the company. In essence a company voluntary arrangement allows a company with historical cash flow problems to repay its liabilities, either in part or in full (including the Inland Revenue and VAT) over a period of time. Once the company's liabilities have been restructured any monies generated by the company e.g. book debts can be used as working capital rather than paying its old debts. From: http://www.middletonpartners.co.uk/company_voluntary_arrangement.htm I do, however, think the difference is subtle Just heard on Radio 5 Live that Arlo White 'understands' that a deal might be struck with Aviva (Norwich Union) to write off half the stadium debt. He didn't give a source. Link to comment Share on other sites More sharing options...
Third Division South Days Posted 3 May, 2009 Share Posted 3 May, 2009 No, I don't think so: What is a Company Voluntary Arrangement (CVA)? A company voluntary arrangement is a recognised legal procedure, under the provisions of the Insolvency Act of 1986 that enable a company to enter into a binding agreement with its creditors detailing how the company's debts and liabilities will be dealt with, and allows the directors to retain the control of the company. In essence a company voluntary arrangement allows a company with historical cash flow problems to repay its liabilities, either in part or in full (including the Inland Revenue and VAT) over a period of time. Once the company's liabilities have been restructured any monies generated by the company e.g. book debts can be used as working capital rather than paying its old debts. From: http://www.middletonpartners.co.uk/company_voluntary_arrangement.htm I do, however, think the difference is subtle Just heard on Radio 5 Live that Arlo White 'understands' that a deal might be struck with Aviva (Norwich Union) to write off half the stadium debt. He didn't give a source. I think thats been suggested since day one of administration. Link to comment Share on other sites More sharing options...
Legod Third Coming Posted 3 May, 2009 Share Posted 3 May, 2009 for investing in Saints or other reasons? They don't have the money nick. They are simply guys who bring money together for property developments. Most of their backing is Qatari and they're several developments which are not selling. It's all money on the never, never as far as I can see! Link to comment Share on other sites More sharing options...
Delmary Posted 3 May, 2009 Share Posted 3 May, 2009 woth £120M The £120M figure I quoted was based on the Times 2008 rich list. Apologies! Latest wealth is at £330M. A bit better:D http://business.timesonline.co.uk/tol/business/specials/rich_list/rich_list_2009/article6107524.ece Link to comment Share on other sites More sharing options...
Delmary Posted 3 May, 2009 Share Posted 3 May, 2009 (edited) Le Tiss confirms discussions with consortium. Should hear more news later this week. On Radio Solent about 30sec ago. Edited 3 May, 2009 by Delmary Link to comment Share on other sites More sharing options...
bridge too far Posted 3 May, 2009 Share Posted 3 May, 2009 I think thats been suggested since day one of administration. Is this referring to the reduced stadium debt? I think we've all been saying it might / will happen and we've found precedents, but it's the first time I've actually heard it broadcast. Link to comment Share on other sites More sharing options...
NickG Posted 3 May, 2009 Share Posted 3 May, 2009 Le Tiss confirms discussions with consortium. Should hear more news later this week. On Radio Solent about 30sec ago. what he was on or they reported it? Link to comment Share on other sites More sharing options...
Rocker268 Posted 3 May, 2009 Share Posted 3 May, 2009 what he was on or they reported it? I think they said he texted in, saying he was with family at the moment, but would talk to them later in the week, I didnt hear it, but thats what I was told happened Link to comment Share on other sites More sharing options...
Delmary Posted 3 May, 2009 Share Posted 3 May, 2009 what he was on or they reported it?No but the main commentator confirmed the story via a text he had received from Le Tiss. Link to comment Share on other sites More sharing options...
trousers Posted 3 May, 2009 Share Posted 3 May, 2009 http://www.pinnacleproperty.net/contact.htm It doesn't bode well that these people can't even spell 'correspondence' on their own website. Makes them look like a bunch of amateurs. I prefered the NAMG and Asturius 'spoof' websites personally.... Link to comment Share on other sites More sharing options...
NY Saint Posted 3 May, 2009 Share Posted 3 May, 2009 We are a league one club now. Some Premiership groin injury is far more newsworthy.... This has be saved as a golden post. One of the funniest things I've read on here in ages. Thanks SC. Link to comment Share on other sites More sharing options...
benjii Posted 3 May, 2009 Share Posted 3 May, 2009 I prefered the NAMG and Asturius 'spoof' websites personally.... Still going strong: http://www.namg.eu.com/introduction.html http://asturius.com/groupinfo.html Link to comment Share on other sites More sharing options...
TheSaint75 Posted 3 May, 2009 Share Posted 3 May, 2009 The £120M figure I quoted was based on the Times 2008 rich list. Apologies! Latest wealth is at £330M. A bit better:D http://business.timesonline.co.uk/tol/business/specials/rich_list/rich_list_2009/article6107524.ece Are you saying http://www.independent.co.uk/news/people/profiles/candy-and-candy-sweet-dreams-777220.html these guys are involved?? Link to comment Share on other sites More sharing options...
lancelot link Posted 3 May, 2009 Share Posted 3 May, 2009 I'm lost, what's the spoof website? Link to comment Share on other sites More sharing options...
Delmary Posted 3 May, 2009 Share Posted 3 May, 2009 Are you saying http://www.independent.co.uk/news/people/profiles/candy-and-candy-sweet-dreams-777220.html these guys are involved??No but others have speculated on this thread. Link to comment Share on other sites More sharing options...
Alain Perrin Posted 3 May, 2009 Share Posted 3 May, 2009 May I be the first to say..... MLT out Link to comment Share on other sites More sharing options...
.comsaint Posted 3 May, 2009 Share Posted 3 May, 2009 MLT possibly on the Board of SFC? 'kin superb news if true. Link to comment Share on other sites More sharing options...
Delmary Posted 3 May, 2009 Share Posted 3 May, 2009 http://www.dailyecho.co.uk/sport/4339521.Legend_Le_Tissier_in_running_to_buy_Saints_/ Link to comment Share on other sites More sharing options...
bridge too far Posted 3 May, 2009 Share Posted 3 May, 2009 Are you saying http://www.independent.co.uk/news/people/profiles/candy-and-candy-sweet-dreams-777220.html these guys are involved?? Blimey :shock: There's a Monaco connection too! Link to comment Share on other sites More sharing options...
TheSaint75 Posted 3 May, 2009 Share Posted 3 May, 2009 Blimey :shock: There's a Monaco connection too! There are also Bank of Scotland connections (not RBS), also Sheik Hamad who I maybe wrong in thinking, has horses with Channon! Link to comment Share on other sites More sharing options...
St Landrew Posted 3 May, 2009 Share Posted 3 May, 2009 May I be the first to say..... MLT out No you may not. The Candy Brothers look good and enterprising. Perhaps under their ownership, Saints matches would be like taking candy from.. No. I'm not allowing that either. Link to comment Share on other sites More sharing options...
bridge too far Posted 3 May, 2009 Share Posted 3 May, 2009 No you may not. The Candy Brothers look good and enterprising. Perhaps under their ownership, Saints matches would be like taking candy from.. No. I'm not allowing that either. Uh oh - you know that'll get me going It would be sweet if they took over We could usurp Everton as the New Toffees We might get rid of our marshmallow defence There you go - my starter for three..... Link to comment Share on other sites More sharing options...
ottery st mary Posted 3 May, 2009 Share Posted 3 May, 2009 We could have Big John the film star at cenre half. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 3 May, 2009 Share Posted 3 May, 2009 Would having the Candy brothers in charge count as having two "sugardaddies"? Link to comment Share on other sites More sharing options...
miserableoldgit Posted 3 May, 2009 Share Posted 3 May, 2009 Presumably there will new washing machines for washing the kit. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 3 May, 2009 Share Posted 3 May, 2009 But the creditors will not be interested in an mp , but get as much as their money back as possible. We all would be the same if it wasn't our club and our money Perhaps. Our perhaps not. Methinks there is much more to play for than just a return financially. I think ALL businessmen are interested in MPs opinions, but there are also others who have influence. Link to comment Share on other sites More sharing options...
ottery st mary Posted 3 May, 2009 Share Posted 3 May, 2009 Presumably there will new washing machines for washing the kit. Woggy is on his way back and to help with the cut backs he:rolleyes: will be washing all the kit by hand Link to comment Share on other sites More sharing options...
SaintRobbie Posted 3 May, 2009 Share Posted 3 May, 2009 Woggy is on his way back and to help with the cut backs he:rolleyes: will be washing all the kit by hand Would love to see Woggy back now Lowe has gone. We should start a campaign... BRING BACK WOGGY! Link to comment Share on other sites More sharing options...
Mole Posted 3 May, 2009 Share Posted 3 May, 2009 May I be the first to say..... MLT out Sundance Beast has already slagged Le Tiss off on here. Link to comment Share on other sites More sharing options...
ottery st mary Posted 3 May, 2009 Share Posted 3 May, 2009 Would love to see Woggy back now Lowe has gone. We should start a campaign... BRING BACK WOGGY! Lest we forget Ethel the tea lady....never understood Rupert with that one..AND she was replaced by a bloooody painting of a train. Sorry just realised we got the painting for free. Mind you having played against Woggy many years ago he may be a starter for the first team next season. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 3 May, 2009 Share Posted 3 May, 2009 Mind you having played against Woggy many years ago he may be a starter for the first team next season. Woggy made a stand when Lowe returned. I'd love it if he had his job offered back to him. Link to comment Share on other sites More sharing options...
saint77 Posted 3 May, 2009 Share Posted 3 May, 2009 just said on sky sports there has been 2 confirmed offers for club Link to comment Share on other sites More sharing options...
Mole Posted 3 May, 2009 Share Posted 3 May, 2009 just said on sky sports there has been 2 confirmed offers for club Some good news coming at last. Link to comment Share on other sites More sharing options...
Master Bates Posted 3 May, 2009 Share Posted 3 May, 2009 We're saved. Link to comment Share on other sites More sharing options...
aintforever Posted 3 May, 2009 Share Posted 3 May, 2009 just said on sky sports there has been 2 confirmed offers for club Excellent if true Link to comment Share on other sites More sharing options...
supaimpy_returns Posted 3 May, 2009 Share Posted 3 May, 2009 Sky Sport News just saying on the match report that Wotte has said the club has received two bids. Now MLT as a figure head chairman , wouldn't need cash input as we've seen Chairman don't need to invest, certainly would unite the fans. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 3 May, 2009 Share Posted 3 May, 2009 Sky Sport News just saying on the match report that Wotte has said the club has received two bids. Now MLT as a figure head chairman , wouldn't need cash input as we've seen Chairman don't need to invest, certainly would unite the fans. He can be our Niall Quinn you mean Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now