Saints takover talks delayed (From Daily Echo)
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Saints takover talks delayed
9:22am Wednesday 13th May 2009 in
-
- By Gordon Simpson » Senior Sports Reporter
THE agonising wait for a deal to save Saints continues, after talks yesterday failed to yield an announcement.
Administrator Mark Fry met with one of the frontrunners – believed to be the Matt Le Tissier-backed Pinnacle group.
However, no announcement about a preferred bidder was made by the close of play.
As revealed in yesterday's Daily Echo, Fry is hoping to align himself to a prospective purchaser before the end of today.
Whoever is chosen as the preferred bidder would then be granted a period of exclusivity to complete a purchase of the club.
During this period of time no other offer can be accepted for the club and it would give the winning bidder the chance to go through the books even more thoroughly and proceed with all the fine detail that needs to be completed.
If Fry’s timetable is correct, then any announcement will be dependent on negotiations with interested parties moving forward this morning and this afternoon.
Comments(65)
aliscan66
says...
9:34am Wed 13 May 09
Saint Rob
says...
9:44am Wed 13 May 09
greystonesben
says...
9:50am Wed 13 May 09
I only hope that he was aligning himself with someone yesterday when an apparent better bid came in at the last moment.
Although what worries me is the 'going over the accounts in finer detail' part after exclusivity is given.
What they might find with the band of pirates we have had in charge previously could scare them off?!
Bitterne Park Tim
says...
10:03am Wed 13 May 09
Portswood Pete
says...
10:05am Wed 13 May 09
Security word(s?): plan-sort! Brilliant!
costa gaz
says...
10:12am Wed 13 May 09
I fear that the creditors, potential buyers and administrators are playing some sort of game of chess with the club all trying to get the best deal.
Hopefully a deal will be finalised soon. Fingers crossed
mr tein
says...
10:14am Wed 13 May 09
1. Paint drying
2. Boiling a Kettle
3. Grass growing
4. Saints under Hoddle
5. Finding a buyer
ironically the security word is rare-rest
lorriep
says...
10:22am Wed 13 May 09
lorriep
says...
10:22am Wed 13 May 09
Southampton boy
says...
10:22am Wed 13 May 09
"Security word" flat-site "Omen may be Knocking SMS down and building Flats good waterside devolpment would not say
lorriep
says...
10:23am Wed 13 May 09
Southampton boy
says...
10:26am Wed 13 May 09
"news-mass" that we are in that alright
Fides
says...
10:43am Wed 13 May 09
Oh, come to think of it yes I do: "Impatient, only my opinion counts, anyone trying to a professional job is incompetent, wants to be told everything, doesn't like what they're told when they are told everything, doesn't like football, only likes winning."
For goodness sake, Fry is just doing his job and it seems as though he is trying to do it in the interests of the football club and the fans as well as in the interest of the creditors. So get off his back and break the habit of a lifetime - patience, please, patience.
Portswood Pete
says...
10:49am Wed 13 May 09
lorriep wrote:The big question though is; who is Hugh Fortune? Is he another bidder?
prehaps Mr. Fry has the Rupert Lowe syndrome. Being paid a hugh fortune for doing little, and loving on the south coast. getting a bit fed up with all this now. the longer this goes on, the more fans will lose faith and just not bother with saints anymore.
At least the Echo get something right, Security word(s): wait-fear!!!
Jason D
says...
10:49am Wed 13 May 09
I know we live in a 24-hour news culture, but you have to appreciate that it can take a while for something to actually happen, especially when it's as complex as this.
Taking over a company is going to take time and anyone who has ever bought a house should appreciate it is frustrating and slow going, especially when the legal side kicks in.
Besides, whoever buys the club will be with us for the next few years at least – better to spend a couple more days getting the decision right than make it in haste and get stuck with another group that doesn't take the club forward.
I'm sure Fry is working as hard as he can, but one thing the last board should have taught us is that leaking details of progress to the press is unhelpful and can scupper potential deals.
I for one think he's done incredibly well to keep the details of these bids fairly quiet.
There will be news and I'm as frustrated as anyone logging on here every few hours looking for progress, but I'd rather know it when things are 100 per cent confirmed than hear more rumours that don't actually materialise.
Mr BCB
says...
11:26am Wed 13 May 09
Dickosfc
says...
11:27am Wed 13 May 09
He'd be good for us..
Dickosfc
says...
11:27am Wed 13 May 09
He'd be good for us..
Dickosfc
says...
11:30am Wed 13 May 09
He'd be good for us..
Charlie George's Lawnmower
says...
12:06pm Wed 13 May 09
So now we are told that if we get a preferred bidder, they then have a period of time available to look at even more detail and no one else can until that period of time ends?
Why didn't Fry tell us this before?????
They way he was talking is that a deal can be concluded in a few days and he's kept on saying this.
This could mean all this dragging on for weeks and months!!!!
This is all sounds very unprofessional.
I deal with big contracts and you invite tenders, give them a set in stone date to get their bids in. You then take a few days to look at the bids and you go with the best one.
The Saints takeover is more akin to a game of Poker with people keeping their cards close to their chest and mostly bluffing.
IT'S A MESS
CHEESLEY
says...
12:08pm Wed 13 May 09
This waiting is really getting to me.
CHEESLEY
says...
12:09pm Wed 13 May 09
This waiting is really getting to me.
Northam Lady
says...
12:18pm Wed 13 May 09
Jason D
says...
12:18pm Wed 13 May 09
Northam Lady
says...
12:18pm Wed 13 May 09
greystonesben
says...
12:31pm Wed 13 May 09
Northam Lady wrote:People are quoting the security word you have to type in before your post appears.
As fairly new to all this can somebody Please explain why some posts have Security Word? written after them, as in Portswood Pete and lorriep? It is doing my head in trying to work it out - Many thanks!
The security word is below the box you type in. Quite often the security word has a funny coincidental link to the article.
Mine is safe-shot
Northam Lady
says...
12:36pm Wed 13 May 09
hampshirehawk
says...
12:36pm Wed 13 May 09
What's worrying me is apparently Saints have no money to pay their players and staffs wages on 21 May. As it appears highly unlikely, even if a preferred bidder is chosen today, new owners will have taken over by then what happens then? Presumably liquidation.
lemsip
says...
12:36pm Wed 13 May 09
There are more twists and turns coming from the ECHO office then Ronaldos dribbling....maybe saints should sign then up hmmmm
hampshirehawk
says...
12:36pm Wed 13 May 09
What's worrying me is apparently Saints have no money to pay their players and staffs wages on 21 May. As it appears highly unlikely, even if a preferred bidder is chosen today, new owners will have taken over by then what happens then? Presumably liquidation.
dannyfloyd
says...
12:42pm Wed 13 May 09
jammyswine
says...
12:47pm Wed 13 May 09
Southampton boy wrote:Probably because £30k would not have covered costs, no point in holding a fundraiser if it costs you money!
In this a case of out of the fire and in to the "Fry"ING pan with this nutter now loking for a buyer? why calll off the game 1500 fans would have like to come up at £20 a time thats 30k or is it greed again from these people who so they say the best intrest of he club.I understand there need to look at the books what I hope for is thet they find something that can be pinned on RL and his back room boys as at the present time they are walking away scott free not right they F**ked this club up and they should be made to pay for there F**k up "Security word" flat-site "Omen may be Knocking SMS down and building Flats good waterside devolpment would not say
normsted
says...
12:51pm Wed 13 May 09
to wait as long as it takes,if we end up with a motivated,dedicated
,honest buyer.Read the small print Mr Fry.Almost there.
normsted
says...
12:51pm Wed 13 May 09
to wait as long as it takes,if we end up with a motivated,dedicated
,honest buyer.Read the small print Mr Fry.Almost there.
Sunny Saint
says...
1:11pm Wed 13 May 09
10:22am Wed 13 May 09
In this a case of out of the fire and in to the "Fry"ING pan with this nutter now loking for a buyer? why calll off the game 1500 fans would have like to come up at £20 a time thats 30k or is it greed again from these people who so they say the best intrest of he club.I understand there need to look at the books what I hope for is thet they find something that can be pinned on RL and his back room boys as at the present time they are walking away scott free not right they F**ked this club up and they should be made to pay for there F**k up
"Security word" flat-site "Omen may be Knocking SMS down and building Flats good waterside devolpment would not say
____________________
What are you smoking/sniffin mate?? 30k would'nt even cover the bill for stewards, O'l Bill, parking and first aid. Not to mention they would have most probably lost money on the printing of tickets and programme's etc... The fact is, LM had not choice but to pull the plug on the idea. It's aShame, but they were asking a little bit to much at the moment.
Seucurity word SEAT-WISH :-)
Sunny Saint
says...
1:29pm Wed 13 May 09
10:22am Wed 13 May 09
In this a case of out of the fire and in to the "Fry"ING pan with this nutter now loking for a buyer? why calll off the game 1500 fans would have like to come up at £20 a time thats 30k or is it greed again from these people who so they say the best intrest of he club.I understand there need to look at the books what I hope for is thet they find something that can be pinned on RL and his back room boys as at the present time they are walking away scott free not right they F**ked this club up and they should be made to pay for there F**k up
"Security word" flat-site "Omen may be Knocking SMS down and building Flats good waterside devolpment would not say
____________________
What are you smoking/sniffin mate?? 30k would'nt even cover the bill for stewards, O'l Bill, parking and first aid. Not to mention they would have most probably lost money on the printing of tickets and programme's etc... The fact is, LM had not choice but to pull the plug on the idea. It's aShame, but they were asking a little bit to much at the moment.
Seucurity word SEAT-WISH :-)
wolfsaint
says...
1:37pm Wed 13 May 09
daveandjennifer
says...
2:44pm Wed 13 May 09
Hercules Grytpype-Thynne
says...
3:13pm Wed 13 May 09
Hercules Grytpype-Thynne
says...
3:16pm Wed 13 May 09
Pedant
says...
4:38pm Wed 13 May 09
Linesman
says...
4:48pm Wed 13 May 09
Perhaps they could explain the benefits.
reality_saint
says...
5:11pm Wed 13 May 09
Billy 2 Baps
says...
5:11pm Wed 13 May 09
Linesman wrote:Benefits, now let me think, No Lowe
I seem to recall that many of those that are now moaning about Fry were the ones stating that going into administration was worth it, if it meant getting rid of Lowe. Perhaps they could explain the benefits.
worried of e sussex
says...
5:39pm Wed 13 May 09
worried of e sussex
says...
5:54pm Wed 13 May 09
Bashfan
says...
6:06pm Wed 13 May 09
Spakey
says...
6:49pm Wed 13 May 09
Spakey
says...
6:49pm Wed 13 May 09
Spakey
says...
6:50pm Wed 13 May 09
Spakey
says...
6:50pm Wed 13 May 09
Linesman
says...
7:37pm Wed 13 May 09
Billy 2 Baps wrote:Unless, like the Phoenix, Lowe rises from the ashes!
Linesman wrote: I seem to recall that many of those that are now moaning about Fry were the ones stating that going into administration was worth it, if it meant getting rid of Lowe. Perhaps they could explain the benefits.Benefits, now let me think, No Lowe
West Ender
says...
7:47pm Wed 13 May 09
Lets hope there is a press conference tomorrow and the creditors don't mess it up for our club !!
I am excited now !!
West Ender
says...
7:50pm Wed 13 May 09
Lets hope there is a press conference tomorrow and the creditors don't mess it up for our club !!
I am excited now !!
aliscan66
says...
8:23pm Wed 13 May 09
Southampton Heart
says...
8:45pm Wed 13 May 09
I wouldn't jump to criticise anyone yet....especially Mr Fry. He's not doubt doing his best for our clubs future!. Remember....the better the buyer...the better chance we have of a brighter future!.
The only companies benefiting at the moment are Cadbury's, the off-licence, Southern Water and Andrex!.
SAVE OUR SAINTS!
Pedant
says...
9:19pm Wed 13 May 09
Why would the creditors care what happens to the football club. The holding company owe them £35 million + . If I were a creditor I would want as much of that back as I could get, if that meant selling everything worth selling so be it. Telling them there will be a lot of unhappy people if the club ceases to exist isn`t going to cut any ice at all. We are dealing with hard nosed businessmen here, bang on all you like about "massive club" and "heart of the city" and they will say, "yes but how much is it worth?- Income? Expenditure? oh it loses money does it, get rid of it then"
pugwash
says...
10:15pm Wed 13 May 09
Ghole
says...
11:17pm Wed 13 May 09
Ghole
says...
11:17pm Wed 13 May 09
Ghole
says...
11:26pm Wed 13 May 09
Fides
says...
12:00am Thu 14 May 09
I can't spot a single post from anyone who knows about administration in general, let alone the additional rules which apply to Football League clubs.
Perhaps those of you that think Mark Fry just needs to wave his magic wand should just go and stick a couple of jumpers down in the park and play kick-about. That would be more your level. For the rest of us, we'll wait and hope that a deal is done which keeps league football alive in the city.
When the deal is done we'll know. If it's not done and the club folds, we'll know that too. And if it comes to that I'll know who I will blame.
Patrick80's
says...
5:35am Thu 14 May 09
Captain Swing
says...
12:14pm Thu 14 May 09
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San Marco says...
9:27am Wed 13 May 09