Fry "not surprised" at Pinnacle withdrawal (From Daily Echo)
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Mark Fry is not surprised after Pinnacle leave Saints takeover race
4:18pm Tuesday 30th June 2009 in News
Mark Fry
SAINTS administrator Mark Fry has admitted he is "not surprised" Pinnacle have withdrawn from the race to buy the club.
Fry released a statement this afternoon, following Matt Le Tissier’s announcement that he and Pinnacle were pulling out.
Fry added he was hopeful a sale would be completed "within a very short period of time".
He said: "The Joint Administrators are not surprised by the withdrawal of the Pinnacle Group from the acquisition of Southampton Football Club.
"It has previously been stated that the Administrators were not prepared to extend the period of exclusivity that had been granted to the Pinnacle Group and that had expired on 19 June 2009.
"Immediately following the expiry of the exclusivity period, the Administrators re-engaged in discussions with other parties that had previously expressed serious interest.
"We remain hopeful that a sale of the Football Club will be completed within a very short period of time.
"We appreciate that the sale may appear to have been protracted but it is a complex transaction which involves numerous stakeholders and a satisfactory solution for all parties is not simple to achieve.
"It is positive news that the Football Club should be in a position to pay the wages this week and once again we reiterate our thanks to the staff and players for their continued support.
"As we have made very clear we are working to a very short timeframe, but wish to reassure everybody with an interest in Southampton Football Club that we are working round the clock to try to ensure the survival of The Club.
"We will keep you advised of continuing developments."
Comments(63)
sarumsaint
says...
4:24pm Tue 30 Jun 09
Fry should be surprised, if not, what have the last few weeks been about...?
robhythe
says...
4:27pm Tue 30 Jun 09
Bitterne Park Tim
says...
4:28pm Tue 30 Jun 09
!!!!!!!!!!!!!!!!!!!!
!
Dickosfc
says...
4:29pm Tue 30 Jun 09
Please,please,please
!
Can't imagine saturday's without a few beers with the lads and watching our beloved Saints.
Fides
says...
4:29pm Tue 30 Jun 09
If Fry is hopeful, then I will be hopeful. Sight better than being depressed anyhow.
Invidia
says...
4:30pm Tue 30 Jun 09
montecristosaint
says...
4:31pm Tue 30 Jun 09
Its outrageous, and very suspicious.Is he deliberately trying to sink the club so that he can asset strip the club for the value of its assets for barclays Bank?
I dont trust you Mark Fry I wouldnt buy a used car off you.
The Exiled Saint
says...
4:34pm Tue 30 Jun 09
Let's face it the writing's been on the wall for over a decade. Only we all preferred not to read the small print!
SFC brought a whole new meaning to Manager of the Month! And all those great escapes, great copy for the journalists, and my how we loved dressing up in fancy costumes on the last day of each near-relergated seasons.
But those who should have known better ignored the real message.
If you can find someone who drop us into another mess again next season, try!
saintjak
says...
4:34pm Tue 30 Jun 09
What the @*%@ is going on down there Fry.
azpect
says...
4:34pm Tue 30 Jun 09
£15mil is not a massive amount of money in today's terms, credit crunch or not.
And considering the assets you will be receiving for that amount, even if we had to sell the training ground, how much would a developer pay for that area in Marchwood? The 8000/10000 season ticket sales revenue? Selling Surman 1.5mil? The stadium cost £32mil alone didn’t it?
If I could I would be breaking down Fry’s door to buy the club.
ben dover
says...
4:35pm Tue 30 Jun 09
ourkid1984
says...
4:35pm Tue 30 Jun 09
Why can't Fry say more than, in just a short amount of time? What does that mean to him because he's been saying that kind of stuff ofr months now and still nowwhere!
Please Mr Fry, speak in plain English
Bashfan
says...
4:36pm Tue 30 Jun 09
season ticket holder
says...
4:37pm Tue 30 Jun 09
This actually means
"I haven't a clue what I am doing "
COYR
The Exiled Saint
says...
4:37pm Tue 30 Jun 09
Oh! It's all too depressing!
kinkyboots70
says...
4:38pm Tue 30 Jun 09
HolyportSaint
says...
4:39pm Tue 30 Jun 09
Bulley
says...
4:39pm Tue 30 Jun 09
helltowatch
says...
4:39pm Tue 30 Jun 09
saintjofbstoke
says...
4:39pm Tue 30 Jun 09
montecristosaint
says...
4:41pm Tue 30 Jun 09
workshy_1 wrote:Mr Fry,
Surely he shouldn't be surprised given he's been in discussions with them? Am gutted and as I said on here last week, I fear this really is the end of the club... No staff, no coaches, no players and most importantly no real sign of a buyer ready to complete. Breaks my heart to say it but I think this is the end of Saints Sad sad end but utterly predictable thanks to the state the club was in Security word: have-none! hear hear
You have lost the trust of the Saints community. There are no excuses for having wasted three months talking to a group that had no money and could not show itself to be credible. I demad an explanation on behalf of all Saints fans.
It is time you came clean the fans are no longer prepared to tkae what you say at face value. Unless you make full and proper disclosure as to the identity of all bidders from now on including sufficient detail to convince anyone that they have the financial resources tu buy the club your administration will not be taken seriously.I am of the opinion that you have failed in your duty of care to Southampton FC nothing you have said so far has any substance to it.
The majority of fans believe that your company should resign and that the club should appoint new administrators with experience of the football world which you and your company clearly do not have.
The fans expect to be properly informed of developments in the spirit of complete transparency.
When can we expect your resignation Mr Fry?
montecristosaint
says...
4:41pm Tue 30 Jun 09
workshy_1 wrote:Mr Fry,
Surely he shouldn't be surprised given he's been in discussions with them? Am gutted and as I said on here last week, I fear this really is the end of the club... No staff, no coaches, no players and most importantly no real sign of a buyer ready to complete. Breaks my heart to say it but I think this is the end of Saints Sad sad end but utterly predictable thanks to the state the club was in Security word: have-none! hear hear
You have lost the trust of the Saints community. There are no excuses for having wasted three months talking to a group that had no money and could not show itself to be credible. I demad an explanation on behalf of all Saints fans.
It is time you came clean the fans are no longer prepared to tkae what you say at face value. Unless you make full and proper disclosure as to the identity of all bidders from now on including sufficient detail to convince anyone that they have the financial resources tu buy the club your administration will not be taken seriously.I am of the opinion that you have failed in your duty of care to Southampton FC nothing you have said so far has any substance to it.
The majority of fans believe that your company should resign and that the club should appoint new administrators with experience of the football world which you and your company clearly do not have.
The fans expect to be properly informed of developments in the spirit of complete transparency.
When can we expect your resignation Mr Fry?
HolyportSaint
says...
4:43pm Tue 30 Jun 09
helltowatch wrote:I suspect it's more likely that the both got warning of additional sanctions from teh FL around the same time - interesting though, that bot TL and Jackson cited "risk" as the reason for the pull out...
Could it be the case that two parties withdraw with an hour or so of eachother because one of the other two has made somekind of commitment?
The Grinch
says...
4:43pm Tue 30 Jun 09
Jason D
says...
4:48pm Tue 30 Jun 09
I can't see he's saying anything here that suggests he's not doing his job properly.
He'd already said he wasn't confident of the deal going ahead so saying he's not surprised it didn't is nothing new and doesn't reflect on his professionalism.
I'll reserve judgement until we find out what happens.
Either he's going to be a hero or a villain by the end of the week.
Fides
says...
4:51pm Tue 30 Jun 09
Jason D wrote:How did you manage to post a moderate sensible statement? I thought they were all automatically deleted.
People ask "why no statement from Matty, why no statement from Fry" then them off when they do say something.
I can't see he's saying anything here that suggests he's not doing his job properly.
He'd already said he wasn't confident of the deal going ahead so saying he's not surprised it didn't is nothing new and doesn't reflect on his professionalism.
I'll reserve judgement until we find out what happens.
Either he's going to be a hero or a villain by the end of the week.
ken j
says...
4:51pm Tue 30 Jun 09
SaintyD
says...
4:51pm Tue 30 Jun 09
london_saint
says...
4:52pm Tue 30 Jun 09
helltowatch wrote:could be - who has he started to talk to again the only other name is the Irish i.e re-engage with formerly interested parties
Could it be the case that two parties withdraw with an hour or so of eachother because one of the other two has made somekind of commitment?
chapellady
says...
4:54pm Tue 30 Jun 09
Nothing to say
says...
4:54pm Tue 30 Jun 09
Sounds as if it wasn't the fully £500k and in fact, people like Crouch chipped in and perhaps MLT as well.
LeC7
says...
4:55pm Tue 30 Jun 09
Saintan
says...
4:57pm Tue 30 Jun 09
I was also looking to start an online petition for clubs affected by the FL's decisions regarding points deductions, stating a lack of confidence in the way clubs are treated and Mawhinney's decision making
is anyone else up for this - might be good to have a bit of a hand!=> (other perspectives and all that!?)
Invidia
says...
4:59pm Tue 30 Jun 09
Patrick80's
says...
4:59pm Tue 30 Jun 09
kinkyboots70 wrote:Oh Yes i love it when you talk dirty !
i knew this would happen that jug eared little weasel had no intention of buying saints .the fl was a "perfect" out for him.its a shame fry didnt take a closer look at the pinnicle bid.now its back to the drawing board .i just would love someone to buy saints.lets hopethe last two groups are not full of cack like jacko the gypo and fialker the wing nut wqnker
wraggster
says...
4:59pm Tue 30 Jun 09
montecristosaint wrote:You may be right, but at this point in time we are depending on him to save our sorry arses.
Fry cant be trusted hes wated three months talking to no hopers who could not show the colour of their money. Its outrageous, and very suspicious.Is he deliberately trying to sink the club so that he can asset strip the club for the value of its assets for barclays Bank? I dont trust you Mark Fry I wouldnt buy a used car off you.
this club for years has been dicing with death, just avoiding relegation apart from the strachen time. Constant boardroom battles, change of managers, is it any wonder were in this state. Probably most of the trouble started with no investment made in the transfer markets and the players we sold the cash was probably going into the pockets of the major shareholders ie. Lowe,Wilde and co and not towards better players. To win and excel you have to pay to put some talent on the green stuff, not put it in your back pocket.
Jimmysaint
says...
5:00pm Tue 30 Jun 09
BasingstokeSaint
says...
5:02pm Tue 30 Jun 09
montecristosaint wrote:Good idea, sack the administrators and get someone else involved with minutes on the clock. Thank god emotion isn't the thing this is running on otherwise we would have no chance at all.
workshy_1 wrote: Surely he shouldn't be surprised given he's been in discussions with them? Am gutted and as I said on here last week, I fear this really is the end of the club... No staff, no coaches, no players and most importantly no real sign of a buyer ready to complete. Breaks my heart to say it but I think this is the end of Saints Sad sad end but utterly predictable thanks to the state the club was in Security word: have-none! hear hearMr Fry, You have lost the trust of the Saints community. There are no excuses for having wasted three months talking to a group that had no money and could not show itself to be credible. I demad an explanation on behalf of all Saints fans. It is time you came clean the fans are no longer prepared to tkae what you say at face value. Unless you make full and proper disclosure as to the identity of all bidders from now on including sufficient detail to convince anyone that they have the financial resources tu buy the club your administration will not be taken seriously.I am of the opinion that you have failed in your duty of care to Southampton FC nothing you have said so far has any substance to it. The majority of fans believe that your company should resign and that the club should appoint new administrators with experience of the football world which you and your company clearly do not have. The fans expect to be properly informed of developments in the spirit of complete transparency. When can we expect your resignation Mr Fry?
Have faith, I think it sounds promising.
helltowatch
says...
5:03pm Tue 30 Jun 09
I can see Lowe now singing the chorus.
"And he said behold, what I have done,there's not a club for anyone, nobody laughed, nobody cried, oh what an end, the club has died, forever amen"
harrii
says...
5:03pm Tue 30 Jun 09
adam1981
says...
5:05pm Tue 30 Jun 09
LeC7
says...
5:05pm Tue 30 Jun 09
Invidia wrote:It's a good point.
As football fans we cannot demand a thing, we also cannot determine who should buy our club and who should not, the only right we have, is to attend matches, therefore it is a waste of time being rude about people, Fry is trying to sell the club and at the same time make money for his employer which is what he is paid for, rude remarks about people just shows total ignorance, the last person that was perfect they crucified.
eastleigh-ian
says...
5:06pm Tue 30 Jun 09
LeC7
says...
5:06pm Tue 30 Jun 09
harrii wrote:Also a good point!
This may still work out. If their is another group interested they may be glad to grab MLT and Mr Crouch to add money to their bid. If not then i think we should remember MLT and Mr Crouch for trying to save our club and thank them. Matt you have saved us many times on the pitch and i am sure you wont give up till the fat lady sings
Horseman
says...
5:08pm Tue 30 Jun 09
Looking at previous statements, which were a little more negative earlier in the week/last week, with the possibility of the club being 'wound up' etc., one wonders if they were trying to call Pinnacle's bluff. This has now happened and we can move on. Hopefuly there really is another serious bidder out there.
I think it's unfair to slag off the administrators, they're just trying to arrange a sale and get a deal for the creditors. They entered the due dliigence period with Pinnacle and ultimately this proved that Pinnacle didn't have the desire or finances, (or maybe both), to take the club forward - it's just a shame they wasted so much of everyone's time.
Tevez888
says...
5:10pm Tue 30 Jun 09
So far that would work out at over £1.5m that they have made while searching for a Buyer.....
Any wonder we sold McGoldrick and now Surman, plus Dyer since they took the helm?!
Mr Fry you are Useless, yes one word as I cannot stick on here writing more than that! Ive had enough.
nomore
says...
5:14pm Tue 30 Jun 09
oxfordsaint1973
says...
5:32pm Tue 30 Jun 09
As a football fan and a financial professional I understand both sides of this sorry tale. Fans who are passionate about their club are rightly upset at what seems to have been the systematic destruction of a once top-tier football - but you are all deluded if you think Mr Fry is working in your interests - he was appointed by the creditors and does not have to rescue the club- all he has to do is find a way to pay back these creditors in the most efficient way possible - and if the only way is to liquidate the club then so be it.
There is a lot of vitriol here - with some fans thinking they are owed a debt but I was there at almost every match last season and was there a sell-out every game? - no. The fans voted in their droves and simply speeded up the destruction of a once great club by staying away and not supporting their team through thick and thin.
I am not saying that the fans are the only ones to blame - the most of the blame for the sorry state our club finds itself in must be laid at the doors of those that "ran" the club for their own ends and so obviously could organise a P*** up in a brewery.
I only hope that some benefactor out there would like to see Saints ressurected - but for the right reasons - and I hope that the majority of us fans are thankful that someone chose to do so and show our gratitude accordingly.
Support the club and lets not give MLT or LC such a hard time - they at least tried to sort out the mess that Wilde, Lowe et al left us in.
IanRRR
says...
5:39pm Tue 30 Jun 09
Two bidders pull out on the same day, leaving the way clear for a cut priced bid at the last minute, from a consortium that does have the money in place..... I wonder how much is backhanded to the two that pulled out, on the back of this stunt? Just a speculative thought....
saint-barnard
says...
5:40pm Tue 30 Jun 09
oxfordsaint1973 wrote:sorry mr proffesional, think alot of fans are just tired with hearing the same old same old. I was one who stayed away, and in no way feel that there would be any difference in todays situation if myself (and many many others) hadn't have stayed away, slag us ones off, were the easy target. I still went to games, but not as many as I did, mainly due to the fact that as I struggle financially enough anyhow, should I keep skinting myself out to go and put money into rupert lowe's pocket. I couldn't do it. If I had plenty of money in my wallet like a finance proffesional, the thought probably wouldn't have entered my mind, but some of us have to think about things. And it was the only real way I myself could get any sort of message across to lowe. but hey, like I say, easy target. You know there is only one real blame, the man who for years and put this club in further and further decline!
Reading most of the comments above it is clear that the average football fan hasn't got a clue. As a football fan and a financial professional I understand both sides of this sorry tale. Fans who are passionate about their club are rightly upset at what seems to have been the systematic destruction of a once top-tier football - but you are all deluded if you think Mr Fry is working in your interests - he was appointed by the creditors and does not have to rescue the club- all he has to do is find a way to pay back these creditors in the most efficient way possible - and if the only way is to liquidate the club then so be it. There is a lot of vitriol here - with some fans thinking they are owed a debt but I was there at almost every match last season and was there a sell-out every game? - no. The fans voted in their droves and simply speeded up the destruction of a once great club by staying away and not supporting their team through thick and thin. I am not saying that the fans are the only ones to blame - the most of the blame for the sorry state our club finds itself in must be laid at the doors of those that "ran" the club for their own ends and so obviously could organise a P*** up in a brewery. I only hope that some benefactor out there would like to see Saints ressurected - but for the right reasons - and I hope that the majority of us fans are thankful that someone chose to do so and show our gratitude accordingly. Support the club and lets not give MLT or LC such a hard time - they at least tried to sort out the mess that Wilde, Lowe et al left us in.
pawnsacrifice
says...
5:46pm Tue 30 Jun 09
Bulley wrote:Fry is a joke, totally out of his depth imo.
" Not surprised " - a great piece of work from the administrator then, who issues exclusivity period, and then isn't surprised when it goes t~ts up - Fry, who surely has ensured that his fees are paid now, from the transfer proceeds of the last two days - quite an incredible situation - we probably will lose the football club, but the Begbies Traynor coffers will surely flourish ! Absolute disgrace and incompetence of the top order
oxfordsaint1973
says...
5:55pm Tue 30 Jun 09
saint-barnard wrote:Ok I hear what you're saying and if you read the comment you will see that to me it is quite obvious who was to blame and as a committed fan I too am fed up of all the rubbish that has gone on in the club - however my main point was that there is a lot of comment on here about Mark Fry doing the right thing for the fans - he doesn't care about the fans or the staff - all he cares about is that the banks and creditors get paid what's owed.
oxfordsaint1973 wrote: Reading most of the comments above it is clear that the average football fan hasn't got a clue. As a football fan and a financial professional I understand both sides of this sorry tale. Fans who are passionate about their club are rightly upset at what seems to have been the systematic destruction of a once top-tier football - but you are all deluded if you think Mr Fry is working in your interests - he was appointed by the creditors and does not have to rescue the club- all he has to do is find a way to pay back these creditors in the most efficient way possible - and if the only way is to liquidate the club then so be it. There is a lot of vitriol here - with some fans thinking they are owed a debt but I was there at almost every match last season and was there a sell-out every game? - no. The fans voted in their droves and simply speeded up the destruction of a once great club by staying away and not supporting their team through thick and thin. I am not saying that the fans are the only ones to blame - the most of the blame for the sorry state our club finds itself in must be laid at the doors of those that "ran" the club for their own ends and so obviously could organise a P*** up in a brewery. I only hope that some benefactor out there would like to see Saints ressurected - but for the right reasons - and I hope that the majority of us fans are thankful that someone chose to do so and show our gratitude accordingly. Support the club and lets not give MLT or LC such a hard time - they at least tried to sort out the mess that Wilde, Lowe et al left us in.sorry mr proffesional, think alot of fans are just tired with hearing the same old same old. I was one who stayed away, and in no way feel that there would be any difference in todays situation if myself (and many many others) hadn't have stayed away, slag us ones off, were the easy target. I still went to games, but not as many as I did, mainly due to the fact that as I struggle financially enough anyhow, should I keep skinting myself out to go and put money into rupert lowe's pocket. I couldn't do it. If I had plenty of money in my wallet like a finance proffesional, the thought probably wouldn't have entered my mind, but some of us have to think about things. And it was the only real way I myself could get any sort of message across to lowe. but hey, like I say, easy target. You know there is only one real blame, the man who for years and put this club in further and further decline!
Most fans seem to think these kind of transactions are easy - they are not -at times it takes months to buy even a small company - however most on here seem to think it could be done in a matter of days - that is a massive leap of faith for someone who is willing to invest millions on a few days investigation into the books - and not just buying a season ticket.
wraggster
says...
6:00pm Tue 30 Jun 09
And fry did say yesterday he was in heavy disscusion's with other bidders.
SaintPaul
says...
6:29pm Tue 30 Jun 09
So let's not balme Pinnacle, MLT, Fialka or Fry, it's the FL that need to be held accountable here, the reason MLT will not discuss these issues is because is likely to put off other buyers and he doesn't want that.
wraggster
says...
6:50pm Tue 30 Jun 09
pawnsacrifice
says...
7:14pm Tue 30 Jun 09
saintstoney
says...
8:21pm Tue 30 Jun 09
harrii wrote:Definately agree with your statement,when we remember the good things about saints it helps us to feel better. still hoping and praying there is a seriuos offer within the next few days???????????????
This may still work out. If their is another group interested they may be glad to grab MLT and Mr Crouch to add money to their bid. If not then i think we should remember MLT and Mr Crouch for trying to save our club and thank them. Matt you have saved us many times on the pitch and i am sure you wont give up till the fat lady sings
Honest65
says...
9:22pm Tue 30 Jun 09
Captain Kirk
says...
10:27pm Tue 30 Jun 09
shirty
says...
10:28pm Tue 30 Jun 09
pawnsacrifice
says...
11:27pm Tue 30 Jun 09
Jesus...except it, barring a miracle we are fooked
shaunparsons
says...
8:30am Wed 1 Jul 09
shaun the saints
workshy_1 says...
4:23pm Tue 30 Jun 09
Am gutted and as I said on here last week, I fear this really is the end of the club... No staff, no coaches, no players and most importantly no real sign of a buyer ready to complete.
Breaks my heart to say it but I think this is the end of Saints
Sad sad end but utterly predictable thanks to the state the club was in
Security word: have-none!
hear hear