SOTONS EAST SIDE Posted 21 May, 2009 Share Posted 21 May, 2009 (edited) According to the Echo! And Jackson and Greene must put in double their offer (from £7-£14million) for them to enter a period of exclusivity! Edited 21 May, 2009 by SOTONS EAST SIDE Link to comment Share on other sites More sharing options...
Wade Garrett Posted 21 May, 2009 Share Posted 21 May, 2009 One or two people will be left with egg on their face with this latest news. I get the impression that Fry is trying to freeze out Jackson/Greene and Pinnacle. Link to comment Share on other sites More sharing options...
notnowcato Posted 21 May, 2009 Share Posted 21 May, 2009 News?? Last time I looked news was based on fact. Are there any direct quotes from Fry in the article? Link to comment Share on other sites More sharing options...
del boy Posted 21 May, 2009 Share Posted 21 May, 2009 Perhaps a deadline should be set.....oh tomorrows Friday, its all coming together Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 (edited) One or two people will be left with egg on their face with this latest news. I get the impression that Fry is trying to freeze out Jackson/Greene and Pinnacle. They also say that the Pinnacle bid has been put on the back burner, as they did not come up with the goods by the deadline and they're offer was also deemed a good long term prospect for the club!!! Edited 21 May, 2009 by SOTONS EAST SIDE Link to comment Share on other sites More sharing options...
M271 Posted 21 May, 2009 Share Posted 21 May, 2009 If £14m is wanted no wonder the 34 expressions of interest have whittled down to virtually nothing. Even the potential investors will not see £14m as a 'good value' deal. Link to comment Share on other sites More sharing options...
CHAPEL END CHARLIE Posted 21 May, 2009 Share Posted 21 May, 2009 I understand the legal duty on the Administrator to get the best price possible but this degree of brinkmanship may well backfire and scare any potential buyers off - sell the club Mr Fry , sell it soon . Link to comment Share on other sites More sharing options...
Master Bates Posted 21 May, 2009 Share Posted 21 May, 2009 Marc Jackson HAS submitted a second offer which falls just short of the £14m. Link to comment Share on other sites More sharing options...
Master Bates Posted 21 May, 2009 Share Posted 21 May, 2009 News?? Last time I looked news was based on fact. Are there any direct quotes from Fry in the article? No. Link to comment Share on other sites More sharing options...
Pilchards Posted 21 May, 2009 Share Posted 21 May, 2009 What is there to sell? Why cant someone purchase the club and pay off the debts on a monthly basis owed to the banks etc. Once thats done then they can focus on sorting out the most important things like FOOTBALL. Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 The Echo understands groups wanting to bid must pay a £500,000 deposit to enter a exclusivity period!! Link to comment Share on other sites More sharing options...
Master Bates Posted 21 May, 2009 Share Posted 21 May, 2009 The Echo understands groups wanting to bid must pay a £500,000 deposit to enter a exclusivity period!! Which Jackson says he's ready to hand over (no quote though). Link to comment Share on other sites More sharing options...
Master Bates Posted 21 May, 2009 Share Posted 21 May, 2009 The group says it is ready to hand over £500,000 by way of advance to cover this month’s wage bill. http://www.dailyecho.co.uk/sport/saints/news/4384529.New_bid_to_save_Saints/ Link to comment Share on other sites More sharing options...
Pilchards Posted 21 May, 2009 Share Posted 21 May, 2009 Which Jackson says he's ready to hand over (no quote though). Give him a whisper in his ear and say 'Please don't!' Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 Which Jackson says he's ready to hand over (no quote though). Yeah but nobody have made a public quote as having payed it, which is a bit of a worry! Link to comment Share on other sites More sharing options...
exit2 Posted 21 May, 2009 Share Posted 21 May, 2009 If £14m is wanted no wonder the 34 expressions of interest have whittled down to virtually nothing. Even the potential investors will not see £14m as a 'good value' deal. http://www.saintsweb.co.uk/forum/showpost.php?p=291803&postcount=1023 Link to comment Share on other sites More sharing options...
SaintRichmond Posted 21 May, 2009 Share Posted 21 May, 2009 One or two people will be left with egg on their face with this latest news. I get the impression that Fry is trying to freeze out Jackson/Greene and Pinnacle. .. For what purpose ??? Don't tell me he has yet another interested party ?? Link to comment Share on other sites More sharing options...
dubai_phil Posted 21 May, 2009 Share Posted 21 May, 2009 This is a strange figure though. Weren't our debts supposed to be about 30 mil Not many people would expect to pay almost 50p in the pound in an administration situation, especially in such an economic downturn. How did Fry get on with the Silverjet Admin? Oh Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 .. For what purpose ??? Don't tell me he has yet another interested party ??Yeah that so called overseas investors are wanting to put in their bid for Saints! Link to comment Share on other sites More sharing options...
SaintRichmond Posted 21 May, 2009 Share Posted 21 May, 2009 Yeah that so called overseas investors are wanting to put in their bid for Saints! The Jersey Mob ??? Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 This is a strange figure though. Weren't our debts supposed to be about 30 mil Not many people would expect to pay almost 50p in the pound in an administration situation, especially in such an economic downturn. How did Fry get on with the Silverjet Admin? OhI think its just the way these big businesses operate now. Buy trying to squeeze every penny out of they're customers, to try and recoup they're bad business investments! Link to comment Share on other sites More sharing options...
TNT Posted 21 May, 2009 Share Posted 21 May, 2009 Not this photocopier salesman again ! Link to comment Share on other sites More sharing options...
dubai_phil Posted 21 May, 2009 Share Posted 21 May, 2009 Wish I could see the full article, but again, seems strange that Fry uses the Echo to tell the bidders what to do. Hope that doesn't mean he hung up the phone on them in a corporate alpha-male type temper tantrum. Still, it's Friday tomorrow again Link to comment Share on other sites More sharing options...
Ponty Posted 21 May, 2009 Share Posted 21 May, 2009 This is all getting quite bizarre, isn't it? Even at £14m Barclays won't recover all of the overdraft debt, which begs the question - Why put us in admin in the first place, when the overdraft was being paid off? The truth is though that a £14m price tag will probably put us under and they'll get next to feck all. Link to comment Share on other sites More sharing options...
exit2 Posted 21 May, 2009 Share Posted 21 May, 2009 This is all getting quite bizarre, isn't it? Even at £14m Barclays won't recover all of the overdraft debt, which begs the question - Why put us in admin in the first place, when the overdraft was being paid off? The truth is though that a £14m price tag will probably put us under and they'll get next to feck all. Ponty, this is what will most probably happen The bids I suspect will be around the £12m mark. This will buy you the club all the assets and no debt. Barclays and Aviva will settle for about 3m and 8m respectivley with the odd going to other creditors. No doubt Aviva will put in a clause that will mean we pay a figure back to them on contractual basis if we reach the top flight, as might Barclays. The difference between the 2 bids will be what thay can offer the club in the future and this is going to be the interesting bit. It is all ******** about Barclays not accepting as what will happen. We have no buyer, the whole place is wound up and then sold off. IN this climate you might get £6m tops for Jackson Farm, Staplewood and SMS, you then split that the same way and people start getting much less Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 21 May, 2009 Share Posted 21 May, 2009 I have finally arrived!! My wife no less texted me this morning, saying that radio solent had reported a pink bentley with arabic number plates entering Southampton this morning!!!!!!!!!!!! We are saved!!! Link to comment Share on other sites More sharing options...
SaintRichmond Posted 21 May, 2009 Share Posted 21 May, 2009 I have finally arrived!! My wife no less texted me this morning, saying that radio solent had reported a pink bentley with arabic number plates entering Southampton this morning!!!!!!!!!!!! We are saved!!! Wow ... Bentley from Spurs ........ Now that IS ambition .... Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 I have finally arrived!! My wife no less texted me this morning, saying that radio solent had reported a pink bentley with arabic number plates entering Southampton this morning!!!!!!!!!!!! We are saved!!!The Echo quotes that the overseas consortium that have been circling Saints are pushing ahead with they're plans for the club, and have enough money to meet the creditors demands!! Link to comment Share on other sites More sharing options...
exit2 Posted 21 May, 2009 Share Posted 21 May, 2009 My other concern is that Fry is trying to sell off SLH as whole and not split the assets. SLH pre share suspension was only worth £3m. Sell the club and stadium together and then let AViva and Barclays whistle for their money as their debt was with SLH (just a thought ) Link to comment Share on other sites More sharing options...
Capel Saint Posted 21 May, 2009 Share Posted 21 May, 2009 The Echo quotes that the overseas consortium that have been circling Saints are pushing ahead with they're plans for the club, and have enough money to meet the creditors demands!! Any link to go with this story from the Echo? Link to comment Share on other sites More sharing options...
Teddy Nutkins Posted 21 May, 2009 Share Posted 21 May, 2009 Paris Hilton owns a pink Bentley, it matches her pink........blouse.:cool: Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 Any link to go with this story from the Echo?Its not on the web site only in the paper(page 53) that i have on me! Link to comment Share on other sites More sharing options...
miserableoldgit Posted 21 May, 2009 Share Posted 21 May, 2009 Not this photocopier salesman again ! I know that LLS has become a figure of fun or hate on this forum, but he has no money. His involvement is as a catalyst getting those who may have money to make a bid. I do not care who puts a consortium together as long as it gives me a club to support for many years to come. Now I can sit here and say "MJ is a ****** and I don`t want him anywhere near the club" or I can let Mark Fry do his job and presume that he is no idiot and will accept the bid that is acceptable to the creditors and best for the club. IF that happens to involve MJ - so be it. Beggars can`t be choosers! Link to comment Share on other sites More sharing options...
miserableoldgit Posted 21 May, 2009 Share Posted 21 May, 2009 I have finally arrived!! My wife no less texted me this morning, saying that radio solent had reported a pink bentley with arabic number plates entering Southampton this morning!!!!!!!!!!!! We are saved!!! I heard this and I am pretty certain that it was a Roller not a Bentley. Lady Penelope is buying us! Thunderbirds are go!! Link to comment Share on other sites More sharing options...
doggface Posted 21 May, 2009 Share Posted 21 May, 2009 £14m is no shock, this was exactly the sum I was told was required this time last week and this was acceptable to fry. If you read the article it insinuates that the pinnacle deal satisfied the major creditors and was in the best long term interests in the club (this was certainly the case from what i was told, it left me salivating). The Echo reports the hold up is they are yet to exchange the final legal docs to trigger preferred bidder status. What the problem is here I have no idea unfortunatley. Arrghhhhhhhhhhhhhh!!!!!!!!! Link to comment Share on other sites More sharing options...
Saints foreva Posted 21 May, 2009 Share Posted 21 May, 2009 Lol £14m for a sinking ship? Good luck with that Fry. Link to comment Share on other sites More sharing options...
slickmick Posted 21 May, 2009 Share Posted 21 May, 2009 My other concern is that Fry is trying to sell off SLH as whole and not split the assets. SLH pre share suspension was only worth £3m. Sell the club and stadium together and then let AViva and Barclays whistle for their money as their debt was with SLH (just a thought ) The bit I don't understand is why isn't a deal being put in place to come to an agreement with all the creditors excluding Aviva. Then re-negotiate a mortgage term with them. This would reduce the money up front by approx £8m and make it more feasable for buyers who would be unwilling to part with £14m in one go. Link to comment Share on other sites More sharing options...
bolo Posted 21 May, 2009 Share Posted 21 May, 2009 What does this £14 Mil cover? I thought Saints debts were mainly £4 mill to barclays and £25 Mil for SMS? Does this £14Mil include the mortgage? I wish somebody could give me actual FACTS!!!! Link to comment Share on other sites More sharing options...
miserableoldgit Posted 21 May, 2009 Share Posted 21 May, 2009 What does this £14 Mil cover? I thought Saints debts were mainly £4 mill to barclays and £25 Mil for SMS? Does this £14Mil include the mortgage? I wish somebody could give me actual FACTS!!!! The only person that has the facts is Mark Fry. 99% of everything on this forum is mixture of conjecture, BS, and plain ignorance. Link to comment Share on other sites More sharing options...
Wade Garrett Posted 21 May, 2009 Share Posted 21 May, 2009 .. For what purpose ??? Don't tell me he has yet another interested party ?? It seems strange that, reportedly, the £8m bid last week was £1m short of what Fry wanted, and now the £7m bid needs to be doubled. I get the impression that the goalposts have been moved at least a couple of time. For what reason I don't know. But unless he had a big joker up his sleeve you would think Fry wasn't too good at his job. Link to comment Share on other sites More sharing options...
doggface Posted 21 May, 2009 Share Posted 21 May, 2009 JF The lodge SMS The Club Staplewood Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 What does this £14 Mil cover? I thought Saints debts were mainly £4 mill to barclays and £25 Mil for SMS? Does this £14Mil include the mortgage? I wish somebody could give me actual FACTS!!!! Facts that might not be known till a deal is done, i'm afraid! Link to comment Share on other sites More sharing options...
slickmick Posted 21 May, 2009 Share Posted 21 May, 2009 It seems strange that, reportedly, the £8m bid last week was £1m short of what Fry wanted, and now the £7m bid needs to be doubled. I get the impression that the goalposts have been moved at least a couple of time. For what reason I don't know. But unless he had a big joker up his sleeve you would think Fry wasn't too good at his job. They left weeks ago. Link to comment Share on other sites More sharing options...
Morph Posted 21 May, 2009 Share Posted 21 May, 2009 £14m is no shock, this was exactly the sum I was told was required this time last week and this was acceptable to fry. If you read the article it insinuates that the pinnacle deal satisfied the major creditors and was in the best long term interests in the club (this was certainly the case from what i was told, it left me salivating). The Echo reports the hold up is they are yet to exchange the final legal docs to trigger preferred bidder status. What the problem is here I have no idea unfortunatley. Arrghhhhhhhhhhhhhh!!!!!!!!! As I said on another thread, this is all brinkmanship by Fry trying to get the best for the creditors. The creditors need to take a much bigger haircut than they want.There is no way they will allow the Club to disappear and they loose everything. I'm just hoping that the Jackson Consortium are not naive enough to give Fry what he wants, leaving nothing for the Club to invest in players and take things forward. Regards Morph Link to comment Share on other sites More sharing options...
trousers Posted 21 May, 2009 Share Posted 21 May, 2009 I'm just hoping that the Jackson Consortium are not naive Good luck Link to comment Share on other sites More sharing options...
SOTONS EAST SIDE Posted 21 May, 2009 Author Share Posted 21 May, 2009 As I said on another thread, this is all brinkmanship by Fry trying to get the best for the creditors. The creditors need to take a much bigger haircut than they want.There is no way they will allow the Club to disappear and they loose everything. I'm just hoping that the Jackson Consortium are not naive enough to give Fry what he wants, leaving nothing for the Club to invest in players and take things forward. Regards MorphYes Morph this is the crux of the matter! Do they get that desperate to get the club , they leave themselves with nothing to take the club forwards! This is a big worry with the MJ/SG bid! Link to comment Share on other sites More sharing options...
Foxstone Posted 21 May, 2009 Share Posted 21 May, 2009 Not this photocopier salesman again ! Whats the difference between him and Leon Crouch ? Both may have many shortcomings but at least they are trying to make a difference, and in different ways they may have ensured the club has a future. Link to comment Share on other sites More sharing options...
Red Stripe Posted 21 May, 2009 Share Posted 21 May, 2009 £14million for assets worth less than half, no real estate - just ain't gonna happen! Link to comment Share on other sites More sharing options...
Rem Posted 21 May, 2009 Share Posted 21 May, 2009 I heard this and I am pretty certain that it was a Roller not a Bentley. Lady Penelope is buying us! Thunderbirds are go!! There you go. So it is an International Rescue... dum dah dah dum... Link to comment Share on other sites More sharing options...
saint_stevo Posted 21 May, 2009 Share Posted 21 May, 2009 A boy doing a mans job. Fry is totally out his depth Link to comment Share on other sites More sharing options...
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