Guided Missile Posted 11 May, 2009 Share Posted 11 May, 2009 (edited) I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is. Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree? What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"? It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 120 years. How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support.... Edited 11 May, 2009 by Guided Missile Never was good at history.... Link to comment Share on other sites More sharing options...
Mole Posted 11 May, 2009 Share Posted 11 May, 2009 Rubbish attention seeking scaremongering. Link to comment Share on other sites More sharing options...
Ivan Katalinic's 'tache Posted 11 May, 2009 Share Posted 11 May, 2009 If we're on life support, does this mean we can go back to 1982, Ashes to Ashes style, and revisit the joys of Keegan, Moran, Williams, Armstrong, Ball, Holmes et al? Link to comment Share on other sites More sharing options...
hypochondriac Posted 11 May, 2009 Share Posted 11 May, 2009 I think we will get someone. I just hope that we can avoid further points deductions or it will be league 2 in 2 seasons. Link to comment Share on other sites More sharing options...
ladysaint Posted 11 May, 2009 Share Posted 11 May, 2009 I think we will get someone but its not going to be easy and think that we may well be in this position again in a few seasons time. Link to comment Share on other sites More sharing options...
Block 5 Posted 11 May, 2009 Share Posted 11 May, 2009 a football club that has been around for over 130 years. Pedant's corner: Think that's 124 years mate. Link to comment Share on other sites More sharing options...
Saint Keith Posted 11 May, 2009 Share Posted 11 May, 2009 I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is. Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree? What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"? It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 130 years. How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support.... agreed. i have been preparing for the worst ever since we missed that penalty at Pride Park. without a wealthy new owner, it was inevitable. sadly a few too many people do not understand the reality or depth of the situation. i am well prepared for the time coming soon when we cannot commit to fulfilling next seasons fixtures Link to comment Share on other sites More sharing options...
Dibden Purlieu Saint Posted 11 May, 2009 Share Posted 11 May, 2009 agreed. i have been preparing for the worst ever since we missed that penalty at Pride Park. without a wealthy new owner, it was inevitable. sadly a few too many people do not understand the reality or depth of the situation. i am well prepared for the time coming soon when we cannot commit to fulfilling next seasons fixtures I'm exactly the same. And I'm sure that once we have gone bust, then the people who may have been able to help us out of this situation, the people that hate Lowe more than they love the club, will be so very proud of themselves Link to comment Share on other sites More sharing options...
Secret Site Agent Posted 11 May, 2009 Share Posted 11 May, 2009 I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is. Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree? What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"? It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 130 years. How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support.... I'm sorry, but with the 30 odd bids, wasn't this wittled down to two through the process of carrying out a 'Reality and Sustainability Check'? So I think that blows the root of your statement out of the water. Sorry and all that. Link to comment Share on other sites More sharing options...
OldNick Posted 11 May, 2009 Share Posted 11 May, 2009 I can understand your concerns and voiced them like others on here before we went into administration.Im in denial that we wont be bought but when you consider quite how much even after the cost cutting that RL took on that we are still losing money!!! it seems we dont have any super rich sugar daddy comign to buy us and so are now at the consortiums of well emaning welathy but not super wealthy people hoping to buy us and then turnoing us for a profit in a few years. Will we be just a shell with the contents sucked empty by snakes or will it hatch and grow Link to comment Share on other sites More sharing options...
instinct Posted 11 May, 2009 Share Posted 11 May, 2009 Rubbish attention seeking scaremongering. This. Link to comment Share on other sites More sharing options...
Mole Posted 11 May, 2009 Share Posted 11 May, 2009 I can understand your concerns and voiced them like others on here before we went into administration.Im in denial that we wont be bought but when you consider quite how much even after the cost cutting that RL took on that we are still losing money!!! The signing of Schneiderlin for £1m was another of Lowes masterstrokes - hardly cost cutting. Revenue cutting was Lowe's speciality and the reason the club went into admin. Sacking Pearson and replacing him with a cack manager then sacking him and replacing him another cack manager. Rubbish football and Lowes involvement per se meant that the clubs revenue stream went down. Whether you blame Wilde - the man who made it all happen, or Lowe - the man who carried out the bungling, is up for debate. Personally i consider Wilde to be the most responsible as this traitor made everything that happened last season possible. Link to comment Share on other sites More sharing options...
Wes Tender Posted 11 May, 2009 Share Posted 11 May, 2009 I was preparing for this situation to arise the minute that Askham and his cohorts accepted the reverse takeover instead of waiting 5 minutes longer to see what else might materialise. On that basis, I'm not going to get suicidal about what may or may not happen now until every avenue has been explored. Link to comment Share on other sites More sharing options...
SaintRichmond Posted 11 May, 2009 Share Posted 11 May, 2009 I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is. Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree? What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"? It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 120 years. How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support.... Before I apply to go to church again ... One Question IF the "Bids" are a load of Horlicks, and nothing IS on the Table, and NOBODY is interested .... would not Fry have issued a Deadline Date ?? before he leaves after switching off the light ?? Link to comment Share on other sites More sharing options...
supergoose Posted 11 May, 2009 Share Posted 11 May, 2009 You'll be the 'glass half empty' type then. Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 11 May, 2009 Share Posted 11 May, 2009 TBH I think we're in it and settling in the mud at the bottom. Should we get bought I would be pleasantly surprised. Let's hope I'm wrong. Link to comment Share on other sites More sharing options...
scott_saints Posted 11 May, 2009 Share Posted 11 May, 2009 What a load of tosh. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 11 May, 2009 Share Posted 11 May, 2009 This is what has been reported in the press... Administrators trying to sell Southampton have begun drawing up contingency plans for liquidation after saying the club has only a short window to find a buyer. Talks are continuing with a number of 'serious' parties according to Begbies Traynor. These are reported to include a pair of Guernsey businessmen. The club has traditional links with the island. 'The situation is fluid,' said Mark Fry of Begbies Traynor. 'I'd like to remain confident that the club can be sold before we get right to the wire, but at the same time I do not want to get people's hopes up. We naturally hope that a sale will be achieved, but there is always the danger that none of the interested parties will make an offer.' He said he was working on 'potential contingencies' should a buyer fail to materialise. Link to comment Share on other sites More sharing options...
John B Posted 11 May, 2009 Share Posted 11 May, 2009 This is what has been reported in the press... Administrators trying to sell Southampton have begun drawing up contingency plans for liquidation after saying the club has only a short window to find a buyer. Talks are continuing with a number of 'serious' parties according to Begbies Traynor. These are reported to include a pair of Guernsey businessmen. The club has traditional links with the island. 'The situation is fluid,' said Mark Fry of Begbies Traynor. 'I'd like to remain confident that the club can be sold before we get right to the wire, but at the same time I do not want to get people's hopes up. We naturally hope that a sale will be achieved, but there is always the danger that none of the interested parties will make an offer.' He said he was working on 'potential contingencies' should a buyer fail to materialise. I would have thought that was not a good status report but we can only hope that an acceptable bid comes in. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 11 May, 2009 Share Posted 11 May, 2009 This is what has been reported in the press... Administrators trying to sell Southampton have begun drawing up contingency plans for liquidation after saying the club has only a short window to find a buyer. Talks are continuing with a number of 'serious' parties according to Begbies Traynor. These are reported to include a pair of Guernsey businessmen. The club has traditional links with the island. 'The situation is fluid,' said Mark Fry of Begbies Traynor. 'I'd like to remain confident that the club can be sold before we get right to the wire, but at the same time I do not want to get people's hopes up. We naturally hope that a sale will be achieved, but there is always the danger that none of the interested parties will make an offer.' He said he was working on 'potential contingencies' should a buyer fail to materialise. This is old though as there has been a bid. It's not a question of "if" there will be a buyer, the question is "who" and "when". Link to comment Share on other sites More sharing options...
John B Posted 11 May, 2009 Share Posted 11 May, 2009 This is old though as there has been a bid. It's not a question of "if" there will be a buyer, the question is "who" and "when". Just because there has been a bid it is acceptable to the administrator Link to comment Share on other sites More sharing options...
OldNick Posted 11 May, 2009 Share Posted 11 May, 2009 The signing of Schneiderlin for £1m was another of Lowes masterstrokes - hardly cost cutting. Revenue cutting was Lowe's speciality and the reason the club went into admin. Sacking Pearson and replacing him with a cack manager then sacking him and replacing him another cack manager. Rubbish football and Lowes involvement per se meant that the clubs revenue stream went down. Whether you blame Wilde - the man who made it all happen, or Lowe - the man who carried out the bungling, is up for debate. Personally i consider Wilde to be the most responsible as this traitor made everything that happened last season possible. Morgan cost 750euro at the time which was about 450k then.He was touted as a star for the future and i dont criticise RL for taking him on.Had we not and he had an injury free seaosn somewhere else im sure fans would soon have said the club were being shortsighted not going for him. In time I believe there will be some questions asked more fully about why Fry (barclays manager in charge of our account) who is a saints fan pulled the plug after the 10 point penalty came into play. It is too simplistic to say he had enough of RL and so pulled the plug then. i dont know myself what brought that on, bu5t him being a saints fan who was at the board meetings and also basically giving the go ahead to all meetings had to have something happen for him to do so with that timing. RL etc had no warning of his action and so i think another outside source must have come into play.We had cut our overdraft by 2 m and so it would be fair to say we were keeping to our side of the deal.If he had either forced us to sell in Jan or given us enough slack for a few more weeks to carry on then we could have sold a few players to cover the shortfall. As i say IMHO there must be more to this than has yet come out. Just an example of my thoughts did a interested party give assurances or reason for him to believe it would be easier to sell if he pulled the plug? it is all imaginary Im sure but it still plays on my mind why he did so at that particular moment in time. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 11 May, 2009 Share Posted 11 May, 2009 Just because there has been a bid it is acceptable to the administrator Any bid is better than no bid for the creditors. If only one bid is on the table it will be accepted as the alternative is liquidation and everyone loses. Link to comment Share on other sites More sharing options...
Dibden Purlieu Saint Posted 11 May, 2009 Share Posted 11 May, 2009 I can understand your concerns and voiced them like others on here before we went into administration.Im in denial that we wont be bought but when you consider quite how much even after the cost cutting that RL took on that we are still losing money!!! it seems we dont have any super rich sugar daddy comign to buy us and so are now at the consortiums of well emaning welathy but not super wealthy people hoping to buy us and then turnoing us for a profit in a few years. Will we be just a shell with the contents sucked empty by snakes or will it hatch and grow That's untrue isn't it? Considering Lowe got the overdraft down for £6.3m to £4.2m on cr@p attendances, I'd presume that the club is now making money (this doesn't take into account the mortgage payment that hasn't gone out). The issue for Barclays was we weren't making money quick enough. If someone took over the club now, with the loss of nearly £5m a year in wages from our top earners, I think the club will actually start to make money, not much, but a little. Link to comment Share on other sites More sharing options...
Leslie Charteris Posted 11 May, 2009 Share Posted 11 May, 2009 This is old though as there has been a bid. It's not a question of "if" there will be a buyer, the question is "who" and "when". Only if the bid will raise more for the creditors than liquidation! :-( Link to comment Share on other sites More sharing options...
Dibden Purlieu Saint Posted 11 May, 2009 Share Posted 11 May, 2009 Any bid is better than no bid for the creditors. If only one bid is on the table it will be accepted as the alternative is liquidation and everyone loses. Yes, but is that bid better for the creditors than asset stripping the club for the money. That's the decision. Just because there has been a bid doesn't mean it will be accepted above asset stripping. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 11 May, 2009 Share Posted 11 May, 2009 Only if the bid will raise more for the creditors than liquidation! :-( a good bid >>>>>>>>>> a poor bid and liquidation at a future point >>>>> liquidation now Any bid will be accepted imo if its the only one. A bid gives the creditors money now and still the oportunity to assest strip in the future if liquidation is needed. Thus would provide more money than just asset stripping now. Link to comment Share on other sites More sharing options...
shurlock Posted 11 May, 2009 Share Posted 11 May, 2009 Relax! No need to wet yourself and get your knickers in a twist. Its agonising for everyone that our future is in limbo and we can't enjoy the usual summer fanfare of speculating and planning for next season. But just because its a slow news day or week or month- and us rank and file supporters are always the last to hear anything, doesnt mean we need to start writing pointless obituaries. Lets wait and see and be cautiously optimistic. Link to comment Share on other sites More sharing options...
OldNick Posted 11 May, 2009 Share Posted 11 May, 2009 That's untrue isn't it? Considering Lowe got the overdraft down for £6.3m to £4.2m on cr@p attendances, I'd presume that the club is now making money (this doesn't take into account the mortgage payment that hasn't gone out). The issue for Barclays was we weren't making money quick enough. If someone took over the club now, with the loss of nearly £5m a year in wages from our top earners, I think the club will actually start to make money, not much, but a little. I can only assume of course but if the plug was pulled we must have still been losing money.I cant see that happening to a profit making concern. I do agree we must be leaner and already the bottom line figure will be better after the departure of some high earners in the summer. That will be offset by relegation of course. Link to comment Share on other sites More sharing options...
OldNick Posted 11 May, 2009 Share Posted 11 May, 2009 a good bid >>>>>>>>>> a poor bid and liquidation at a future point >>>>> liquidation now Any bid will be accepted imo if its the only one. A bid gives the creditors money now and still the oportunity to assest strip in the future if liquidation is needed. Thus would provide more money than just asset stripping now.I dont agree. if the assets are worth more split up than to one poor offer the administrator will split sell and liquidate that is his job Link to comment Share on other sites More sharing options...
miserableoldgit Posted 11 May, 2009 Share Posted 11 May, 2009 I think that the Administrator may well be. He's drained as many billable hours as possible, trying to sell a pig in a poke and maybe there're a few more days left, before he has to write his report, present his final invoice and let Barclays and Aviva know what the reality is. Are there really only 2 "bids", both from dreamers looking for someone else's money to gamble with, in the midst of the worst recession since the 30's and Frys' desparate attempt to shake a foreign bid out of the tree? What if the cards he's stacking, suddenly all fall down, in the first breeze called "proof of funds"? It will be difficult for him to face the reality that no-one wants to/can buy a club two seasons away from the Conference. Compared to him, how will the ordinary fans react to the same potential outcome? I have to confess, the circus that surrounds the bidding process, fills me with dread that we are actually witnessing the silent death throes of a football club that has been around for over 120 years. How will you cope? I'm already thinking of alternatives, trying to readjust my plans for next year. We can joke, blame, criticise, donate but can you face up to the end? It could happen very suddenly and it will be a faceless credit committee that pulls the plug on the life support.... Or from the Premiership?? Link to comment Share on other sites More sharing options...
The9 Posted 11 May, 2009 Share Posted 11 May, 2009 (edited) I'm preparing for the worst as I've been here before in the last recession, when my LAST club got wound up for less than half a million with a youth team player on the books who went on to be transferred for £2m. Alternative plans include a bit of ground-hopping, attending the away end at Fratton, otherwise having a life, and that's about it. Hopefully it won't come to that, but the possibility is there, especially as we're now at the point of brinkmanship and both might just walk away... Edited 11 May, 2009 by The9 Link to comment Share on other sites More sharing options...
Toadhall Saint Posted 11 May, 2009 Share Posted 11 May, 2009 This is what has been reported in the press... Administrators trying to sell Southampton have begun drawing up contingency plans for liquidation after saying the club has only a short window to find a buyer. Talks are continuing with a number of 'serious' parties according to Begbies Traynor. These are reported to include a pair of Guernsey businessmen. The club has traditional links with the island. 'The situation is fluid,' said Mark Fry of Begbies Traynor. 'I'd like to remain confident that the club can be sold before we get right to the wire, but at the same time I do not want to get people's hopes up. We naturally hope that a sale will be achieved, but there is always the danger that none of the interested parties will make an offer.' He said he was working on 'potential contingencies' should a buyer fail to materialise. When - is this from this week or from last week or ?? Link to comment Share on other sites More sharing options...
Blandford saint Posted 11 May, 2009 Share Posted 11 May, 2009 Yes, you do have to wonder why Barclays pulled the plug at that exact moment - it just doesn't sound logical from a business point of view. How come we were allowed to take Saeijs on loan? And Liptak? Why didn't they force us to accept the bid for Dyer, and why was McGoldrick allowed to carry on playing when it would trigger a payment clause? If we were allowed to do all these things, why didn't they wait until the transfer window re-opened and insist we sell players to a certain value? Also, by staying in the Championship the television revenue goes up considerably next season, so we would have had a much better chance of being solvent, with so many players being out of contract. I just can't understand the business logic. Link to comment Share on other sites More sharing options...
Chez Posted 11 May, 2009 Share Posted 11 May, 2009 I can understand your concerns and voiced them like others on here before we went into administration. Im in denial that we wont be bought but when you consider quite how much even after the cost cutting that RL took on that we are still losing money!!! the clubs costs will be reduced dramatically with Skacel, John, BWP, Euell, Davis and possibly Saga and Rasiak leaving the club. Our income will be probably be reduced with lower ticket prices and lower crowds, but if the new owner has managed to negotiate a reduced motgage rate or even wiped out some of the debts then the club might start to look financially attractive. Link to comment Share on other sites More sharing options...
Micky Posted 11 May, 2009 Share Posted 11 May, 2009 It is said that 'no news is good news', however in this particular case I am not so sure. Either the NDA's and confidentuality clauses are maintaining a 'water tight' seal on information reaching the public domain, or the quality of bids thus recieved is not sufficient to act upon. Given that one bid is from a well known 'businessman', I fear the latter. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 11 May, 2009 Share Posted 11 May, 2009 Any bid is better than no bid for the creditors. If only one bid is on the table it will be accepted as the alternative is liquidation and everyone loses. NO! The case against can be seen with Darlington at the moment as the administrators have reject the one and only bid for the club. Link to comment Share on other sites More sharing options...
John B Posted 11 May, 2009 Share Posted 11 May, 2009 I dont agree. if the assets are worth more split up than to one poor offer the administrator will split sell and liquidate that is his job Very true for a bid to be accepted it has to be realistic I would have thought Link to comment Share on other sites More sharing options...
SaintRichmond Posted 11 May, 2009 Share Posted 11 May, 2009 Any bid is better than no bid for the creditors. If only one bid is on the table it will be accepted as the alternative is liquidation and everyone loses. Just as a matter of interest, are Wilde and Lowe classed as "creditors" ??? PS, I did say creditors, NOT predators Link to comment Share on other sites More sharing options...
Frank's cousin Posted 11 May, 2009 Share Posted 11 May, 2009 So the 30+ is down to 2...one of which is Whacko Jacko... and we aint ment to be worried? So what is plan B likely to be? Asset sales and liquidation? a restart in the Blue Square paying rent to the council? I have not totally given up hope, Saints is just too big to cease to exist, but we have to realistic about what may happen and be prepared to come out in force and support our club whatever the result. If we as fans awant it bad enough and are prepared to support them, then we will rise pheonix like from the ashes... if not we could be a very small fish in the solent for years to come. Link to comment Share on other sites More sharing options...
NickG Posted 11 May, 2009 Share Posted 11 May, 2009 I believe there will be at least one, up to 3 viable options for Fry to choose between and to try to get best deal. Link to comment Share on other sites More sharing options...
HeShootsHeScores Posted 11 May, 2009 Share Posted 11 May, 2009 Are you lot manic depressives or what? I'd suggest getting out in the sunshine for a bit! Link to comment Share on other sites More sharing options...
Doctoroncall Posted 11 May, 2009 Share Posted 11 May, 2009 When - is this from this week or from last week or ?? 1.5 weeks ago, however it doesn't change the fact it was needed to be considered (perhaps now complete) because of the whole situation with the club and current economic climate. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 11 May, 2009 Share Posted 11 May, 2009 Very true for a bid to be accepted it has to be realistic I would have thought Unlikely someone would go to the expense of due dilligence etc only to put in an unrealistic offer. Any bid is likely to only be at the very bottom of the range at worse without falling into "unrealistic" realms. Not worth the time and effort getting to this point otherwise as they would be aware it would be rejected and liquidation follow. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 11 May, 2009 Share Posted 11 May, 2009 (edited) Any bid is better than no bid for the creditors. If only one bid is on the table it will be accepted as the alternative is liquidation and everyone loses. NOt quite right, the administrator may choose NOT to accept a bid if he feels that there is potentially a greater return for creditors by liquidising individual assets than from a bid for teh whole shebang - and thats his priority - not to saints as a going concern....with less of a return to creditors.. EDIT: Sorry delay in posting meant already covered. Edited 11 May, 2009 by Frank's cousin Link to comment Share on other sites More sharing options...
londonsaint1604 Posted 11 May, 2009 Share Posted 11 May, 2009 Basically no one has a ****ing clue whats going on do they? It does make sense to prepare for the worst like you say, though, just because it will help to soften the blow slightly if 'the worst' does indeed happen. Link to comment Share on other sites More sharing options...
NickG Posted 11 May, 2009 Share Posted 11 May, 2009 This is what has been reported in the press... Administrators trying to sell Southampton have begun drawing up contingency plans for liquidation after saying the club has only a short window to find a buyer. Talks are continuing with a number of 'serious' parties according to Begbies Traynor. These are reported to include a pair of Guernsey businessmen. The club has traditional links with the island. 'The situation is fluid,' said Mark Fry of Begbies Traynor. 'I'd like to remain confident that the club can be sold before we get right to the wire, but at the same time I do not want to get people's hopes up. We naturally hope that a sale will be achieved, but there is always the danger that none of the interested parties will make an offer.' He said he was working on 'potential contingencies' should a buyer fail to materialise. That is actually a sensible and positive quote. Imagine him saying bids coming in so will sit back and wait for them - no chance they will fall through! Link to comment Share on other sites More sharing options...
SaintRichmond Posted 11 May, 2009 Share Posted 11 May, 2009 Normally, when there is a Corpse to be had, the Press and Media are right there waiting to pick the bones OK, we are now only a Div 1 Club, OK we are massively in debt, OK we are in Administration ............ but (so far) no sign of the "vultures" hanging around outside waiting for the feast to begin ?? Any thoughts as to why not ??? Link to comment Share on other sites More sharing options...
Frank's cousin Posted 11 May, 2009 Share Posted 11 May, 2009 Normally, when there is a Corpse to be had, the Press and Media are right there waiting to pick the bones OK, we are now only a Div 1 Club, OK we are massively in debt, OK we are in Administration ............ but (so far) no sign of the "vultures" hanging around outside waiting for the feast to begin ?? Any thoughts as to why not ??? No meat left on the bones? :-) Link to comment Share on other sites More sharing options...
Clapham Saint Posted 11 May, 2009 Share Posted 11 May, 2009 (edited) I dont agree. if the assets are worth more split up than to one poor offer the administrator will split sell and liquidate that is his job True, but I really believe that the value of the assets split up is very low indeed (relatively speaking). Aside from the stadium there isn't a lot to sell and even that would be worth considerably less with no team to play in it. Jackson's farm can be sold sparately to the club anyway and so doesn't enter the equation. Edit: for mongish speeeling (again) Edited 11 May, 2009 by Clapham Saint Link to comment Share on other sites More sharing options...
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