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4:40pm Thursday 14th May 2009 in
THE two frontrunners to buy Saints insist they remain in the mix to complete a purchase of the club as anxious fans desperately await more developments.
Both the Matt Le Tissier backed Pinnacle group and a consortium containing Marc Jackson, which is being led by businessman Stuart Green and whose bid is understood to be worth a potential total of £15m, have confirmed to the Daily Echo that they are still pursuing their interests in the club.
Speculation remains over a third mystery bidder waiting in the wings, Echo reporters write.
Administrator Mark Fry has been locked in days of meetings to try to get to the stage of having a preferred bidder and said on Monday he expected to have made an announcement to that effect by the end of yesterday. However, yet another day came and went without developments.
Encouraging news for Saints fans is that the potential purchasers still appear to have a covetous eye cast towards St Mary’s and things could still move forward quickly.
A source close to the bid fronted by Green told the Daily Echo last night that their offer is for an initial £8m with a further £2m deferred and another £5m dependant on promotions, ultimately back to the Premiership.
The source added that the bid had been lodged for over a week and has £500,000 by way of an advance ready to go to cover this month’s wage bill.
Pinnacle were last night understood to be trying to get themselves into a position to be Fry’s preferred bidder. Le Tissier, backing a bid managed by Pinnacle rather than fronting it, spoke briefly about the situation as he re-opened the Pilgrim Inn pub in Marchwood which started life in 1976, Saints’ FA Cup final winning year.
He said: “Things are ongoing and it would be wrong of me to say any more at the moment.”
Le Tissier said an initial announcement would be made by the administrator. Asked yesterday lunchtime when that was likely to be he said: “Possibly within the next 24 hours.”
When contacted by the Daily Echo, former Centerprise director Green wouldn’t comment on precise financial details but insisted he hasn’t given up on landing the club for his consortium and hopes a decision will be made sooner rather than later.
Green said: “We are still in the mix, but that is probably about all I can say at this stage. It is really down to Mark Fry now to see what he does. He was supposedly meant to make a decision today (yesterday), but every day that goes by is another day lost. The danger is that if the administrator doesn’t take any offers then the club is still spending money and as an administrator he has a fairly tight set of terms of reference.
“Regardless of what the bid is, it does not take a rocket scientist to know how much you need to run the facility. I think everyone is feeling the pressure and I hope there is a resolution soon, whether it is our group or a competitor’s bid. My overriding concern is to ensure that the club survives.”
Fry was unavailable for comment.
Comments(60)
saintforever
says...
7:01am Thu 14 May 09
mastershot100
says...
7:13am Thu 14 May 09
Bigrich1980
says...
7:16am Thu 14 May 09
UTS
says...
7:31am Thu 14 May 09
Bigrich1980 wrote:They are only interested in a 'pay day' esp Jackson.
£15M is why they are interested, that bid will wipe the debt out. THe club is only worth about £2M. The other £13M will be offered to Barclays and Norwich Union to wipe of the debt. Probably £3M to barclays and £10M to pay of the stadium debt. That way they get a club that potentially could be worth a lot more and is debt free.
Patrick80's
says...
7:48am Thu 14 May 09
Southampton boy
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7:56am Thu 14 May 09
NewforestSaint
says...
8:04am Thu 14 May 09
Charlie George's Lawnmower
says...
8:04am Thu 14 May 09
gregsoton
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8:21am Thu 14 May 09
wellow werdna
says...
8:25am Thu 14 May 09
CHEESLEY
says...
9:02am Thu 14 May 09
Solent Saint
says...
9:11am Thu 14 May 09
UTS wrote:LOL. The fans would not even stump up £30K for the all-stars match. Love Lowe or not, get football flowing quickly or another 17 points.
Bigrich1980 wrote: £15M is why they are interested, that bid will wipe the debt out. THe club is only worth about £2M. The other £13M will be offered to Barclays and Norwich Union to wipe of the debt. Probably £3M to barclays and £10M to pay of the stadium debt. That way they get a club that potentially could be worth a lot more and is debt free.They are only interested in a 'pay day' esp Jackson. Lets hope MLT takesover or some other worthy party. But certainly not Jackson or Green sat in the boardroom. Two sad stirring Lowe luvvies.
Portswood Pete
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9:18am Thu 14 May 09
allsaintsnocurves
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9:20am Thu 14 May 09
SomersetSaint
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9:22am Thu 14 May 09
St.Yorkie
says...
9:23am Thu 14 May 09
Invidia
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9:40am Thu 14 May 09
lemsip wrote:I never trusted this bloke after the "hand of god" fiasco
Appently third party waiting in the wings is Madonna...after having her african adoption turned down she has turn her interet to Brad Wright-Phillips
UTS
says...
9:42am Thu 14 May 09
season ticket holder
says...
9:57am Thu 14 May 09
Portswood Pete
says...
9:59am Thu 14 May 09
UTS wrote:Probably not but that won't stop the web warriors from slagging him off. Isn't Jones the Financial director at St Marys and has survived every cull so far? He must be doing something right.
Any truth that Lowe associates and former incompetent directors, Dave Jones and Andrew Cowen are part of Greens Plans ?
lemsip
says...
10:11am Thu 14 May 09
Invidia wrote:Ha ha...yer apperently he wants to use st marys as a crack den
lemsip wrote: Appently third party waiting in the wings is Madonna...after having her african adoption turned down she has turn her interet to Brad Wright-PhillipsI never trusted this bloke after the "hand of god" fiasco
geordie saint
says...
10:19am Thu 14 May 09
allsaintsnocurves wrote:come on spill the beans, we need to know
If the third bid waiting in the wings is the one I was hoping for then I can tell you there is a lot of money in that investment! Keep your fingers crossed!! I just hope it's all over soon.
BIg-Al
says...
10:24am Thu 14 May 09
Bigrich1980 wrote:The Barclasy debt is all they have to worry about - the stadium loan is a mortgage so repayments can be renegotiated with Norwich Union at a preferred affordable rate. With the sale of a few key players (Lallana, Surman, Dyer and, dare I say it, Davis) we would have a enough money to buy an expereinced hard-nosed beefy bully-boy striker. Surely this is a good start?
£15M is why they are interested, that bid will wipe the debt out. THe club is only worth about £2M. The other £13M will be offered to Barclays and Norwich Union to wipe of the debt. Probably £3M to barclays and £10M to pay of the stadium debt. That way they get a club that potentially could be worth a lot more and is debt free.
greystonesben
says...
10:25am Thu 14 May 09
greystonesben
says...
10:28am Thu 14 May 09
Portswood Pete wrote:My last comment was meant to have quoted this one...
UTS wrote: Any truth that Lowe associates and former incompetent directors, Dave Jones and Andrew Cowen are part of Greens Plans ?Probably not but that won't stop the web warriors from slagging him off. Isn't Jones the Financial director at St Marys and has survived every cull so far? He must be doing something right.
Portswood Pete
says...
10:35am Thu 14 May 09
greystonesben wrote:There are problems with believing everything you read on the internet mate, a lot of it just isn't true! I tend to go by facts, which are hard to come by in this, so I'll go by peoples actions, rather than what some nitwit on an internet board says he heard from his mates' mums' hairdresser. Ifv it's Jackson or nothing, I'll go with Jackson and hope for the best, if he aint got the money, he won't get the job, end of.
Doing something right? Overseeing (as the FINANCIAL DIRECTOR) the financial downfall of our club?
Yes, yes, he has done a marvellous job.
He should go too.
NO to Marc Jackson! Fat oompa loompa wanna be. St Mary's has enough Photocopying Machines thank you, that is all you are good for.
If we trust this man, and Fry falls for his lies we will end up losing a serious bidder. Fy couldnt prove funds for Bournemouth on a considerablely less expensive venture, he would have no hope getting the funds needed for us.
Do Saints fans a favour Marc and stick to Photcopying.
Jason D
says...
10:43am Thu 14 May 09
ourkid1984
says...
10:47am Thu 14 May 09
Charlie George's Lawnmower
says...
10:50am Thu 14 May 09
The Exiled Saint
says...
11:04am Thu 14 May 09
letiss25
says...
11:13am Thu 14 May 09
SW11_Saint
says...
11:13am Thu 14 May 09
Patrick80's
says...
11:14am Thu 14 May 09
wellow werdna wrote:Who is the Chap in the Hat !
Love the picture, Matt le tiss and Terry Hurlock one hour before kick off, and i bet we still won the game!!
saint Compo
says...
11:15am Thu 14 May 09
Red & White Never Blue, Bitterne
says...
11:19am Thu 14 May 09
greystonesben
says...
12:01pm Thu 14 May 09
Portswood Pete wrote:This is not something I have heard from a mates, mums, hairdresser Pete.
greystonesben wrote: Doing something right? Overseeing (as the FINANCIAL DIRECTOR) the financial downfall of our club? Yes, yes, he has done a marvellous job. He should go too. NO to Marc Jackson! Fat oompa loompa wanna be. St Mary's has enough Photocopying Machines thank you, that is all you are good for. If we trust this man, and Fry falls for his lies we will end up losing a serious bidder. Fy couldnt prove funds for Bournemouth on a considerablely less expensive venture, he would have no hope getting the funds needed for us. Do Saints fans a favour Marc and stick to Photcopying.There are problems with believing everything you read on the internet mate, a lot of it just isn't true! I tend to go by facts, which are hard to come by in this, so I'll go by peoples actions, rather than what some nitwit on an internet board says he heard from his mates' mums' hairdresser. Ifv it's Jackson or nothing, I'll go with Jackson and hope for the best, if he aint got the money, he won't get the job, end of.
Portswood Pete
says...
1:01pm Thu 14 May 09
greystonesben wrote:Putting it in upper case doesn't maker it so. The first two are facts and not up to debate, the B'mouth TO is a matter of record and Jackson admitted he once sold photocopiers, why does that mean he can't take us over? If he's got the wherewithall then fair enough. As for being close to Lowe that is not a fact, as far as I'm aware Jackson has met him a few times, well so have a lot of people it doesn't make them bad people you know. I just wish people would speak as they find.
Portswood Pete wrote:This is not something I have heard from a mates, mums, hairdresser Pete.
greystonesben wrote: Doing something right? Overseeing (as the FINANCIAL DIRECTOR) the financial downfall of our club? Yes, yes, he has done a marvellous job. He should go too. NO to Marc Jackson! Fat oompa loompa wanna be. St Mary's has enough Photocopying Machines thank you, that is all you are good for. If we trust this man, and Fry falls for his lies we will end up losing a serious bidder. Fy couldnt prove funds for Bournemouth on a considerablely less expensive venture, he would have no hope getting the funds needed for us. Do Saints fans a favour Marc and stick to Photcopying.There are problems with believing everything you read on the internet mate, a lot of it just isn't true! I tend to go by facts, which are hard to come by in this, so I'll go by peoples actions, rather than what some nitwit on an internet board says he heard from his mates' mums' hairdresser. Ifv it's Jackson or nothing, I'll go with Jackson and hope for the best, if he aint got the money, he won't get the job, end of.
Jackson failed in an attempt to buy Bournemouth. FACT
Jackson used to work as a photocopier salesman. FACT
Jackson was very close to Lowe. FACT
Use these 'FACTS' as you will but given the CHOICE, I would prefer a different buyer.
Without the choice, I would take Hitler himself if it meant us going out of business, but why Fry is entertaining this mug with other more serious bidders still interested I dont know.
vogon
says...
1:03pm Thu 14 May 09
St.Yorkie
says...
1:12pm Thu 14 May 09
worried of e sussex
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1:12pm Thu 14 May 09
vogon wrote:good point they want to keep any funds available for the purchase of players a secret otherwise the creditors will want it
Before geeting all your hopes up about new owners and money they may or may not make available, remember that the administrator's priority is to the club's creditors so the more money that is squeezed out of the new owners the less they have available to spend.
Dickosfc
says...
1:30pm Thu 14 May 09
Jason D wrote:Good post... Some people can be so depressing!! Moan, moan, moan..
I sometimes wonder if some of the contributors to this page are impatient for a decision to be made because they can't wait to have something else to moan about. No doubt any bid that is accepted will be the wrong one and (despite the fact the alternative is going out of business) will (a) not bring enough investment, (b) is from someone you don't like who is only in it to fleece the club and make money and (c) was the nephew of Rupert Lowe's second cousin in a former life.
Parksey
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1:42pm Thu 14 May 09
worried of e sussex
says...
2:18pm Thu 14 May 09
stmalcolm
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2:53pm Thu 14 May 09
LeC7
says...
3:07pm Thu 14 May 09
worried of e sussex wrote:Classic, that's the best post i've read on here in a long time!
Could the administrator start a small fire with black smoke riseing above St Marys and when a new pope - sorry buyer has been chosen the smoke turns white? (and red)
geordie saint
says...
3:12pm Thu 14 May 09
stmalcolm wrote:This man is correct,all we can do is hope to get the right people
The plc goes from administration to bankruptcy when Barclays will not finance the overdraft any longer or Norwich Union get fed up waiting for the next mortgage payment. Barclays are going to threaten to pull the plug as they want their £££, however while Mr Fry is still negotiating they will have a chance of getting some or all of their money and are unlikely to move to the next stage. All timings are flexible. Any lawyers care to add to this ? Hard that it may be, no news is good news and the next news will be a new owner or the bankruptcy court. I wish Mr Fry the best of success in selling a difficult asset. Ask yourself would you buy something likely to lose money while you own it ? Let's all hope that we will be back in SMS later in the year.
mastershot100
says...
3:36pm Thu 14 May 09
Parksey wrote:Well put.You have got that spot-on.
I've been reading all the reports and comments on here about Saints' situation for a couple of weeks now, and they're nothing short of hilarious. I'm not sure why some of the contributors seem to think that the administrator owes the fans (or even the media for that matter) some sort of obligation to provide regular updates on the sale of the club? The administrator's duty is to the creditors of the PLC, in ensuring that the best result is achieved for them and not the actual club. As others have correctly put it, this may very well mean that the club is sold to someone who may not actually have the means for any significant long-term investment... From the PLC's creditors' perspective, a £15m bid is better than a £10m bid with a promise of £10m investment in players, as this gives the creditors the better return. Of course, this arguably isn't in the club's best interests, but unfortunately that isn't the administrator's job here. The administrator is understandably going to keep his cards close to his chest in terms of the bids currently on the table, as it'll jeopardise other/new bids if he's continually reporting to the local media who is interested and at what level. An announcement will be made when a decision has been reached, simple as that. In the meantime, this continued speculation and rumour as to what is going on is pointless (but admittedly very entertaining to read!).
Linesman
says...
4:26pm Thu 14 May 09
lemsip wrote:Crack den!!!
Invidia wrote:Ha ha...yer apperently he wants to use st marys as a crack denlemsip wrote: Appently third party waiting in the wings is Madonna...after having her african adoption turned down she has turn her interet to Brad Wright-PhillipsI never trusted this bloke after the "hand of god" fiasco
dannyfloyd
says...
4:27pm Thu 14 May 09
mastershot100 wrote:couldn't agree more... i hope if my firm ever goes bust i get this much support... oh and the sec word: fish-play
Parksey wrote: I've been reading all the reports and comments on here about Saints' situation for a couple of weeks now, and they're nothing short of hilarious. I'm not sure why some of the contributors seem to think that the administrator owes the fans (or even the media for that matter) some sort of obligation to provide regular updates on the sale of the club? The administrator's duty is to the creditors of the PLC, in ensuring that the best result is achieved for them and not the actual club. As others have correctly put it, this may very well mean that the club is sold to someone who may not actually have the means for any significant long-term investment... From the PLC's creditors' perspective, a £15m bid is better than a £10m bid with a promise of £10m investment in players, as this gives the creditors the better return. Of course, this arguably isn't in the club's best interests, but unfortunately that isn't the administrator's job here. The administrator is understandably going to keep his cards close to his chest in terms of the bids currently on the table, as it'll jeopardise other/new bids if he's continually reporting to the local media who is interested and at what level. An announcement will be made when a decision has been reached, simple as that. In the meantime, this continued speculation and rumour as to what is going on is pointless (but admittedly very entertaining to read!).Well put.You have got that spot-on. Div.2 here we come.
montecristosaint
says...
7:08pm Thu 14 May 09
Northam Lady
says...
7:59pm Thu 14 May 09
Northam Lady
says...
8:54pm Thu 14 May 09
Tirau Dan (NZL)
says...
9:40pm Thu 14 May 09
Tirau Dan (NZL)
says...
9:49pm Thu 14 May 09
Tirau Dan (NZL)
says...
9:49pm Thu 14 May 09
Pedant
says...
10:22pm Thu 14 May 09
Saint
says...
11:02pm Thu 14 May 09
dannyfloyd
says...
10:40am Fri 15 May 09
Linesman wrote:what a bunch of embarassing small minded tw4ts you are.
lemsip wrote:Crack den!!! Doesn't he know the club has gone to pot?Invidia wrote:Ha ha...yer apperently he wants to use st marys as a crack denlemsip wrote: Appently third party waiting in the wings is Madonna...after having her african adoption turned down she has turn her interet to Brad Wright-PhillipsI never trusted this bloke after the "hand of god" fiasco
montecristosaint
says...
2:31pm Fri 15 May 09
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UTS says...
6:37am Thu 14 May 09