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10:01am Thursday 15th May 2008
THE remaining directors on Southampton Football Club's PLC board have this morning resigned, completely clearing the path for Rupert Lowe and Michael Wilde to return to St Mary's.
Leon Crouch, Patrick Trant and Keith Wiseman confirmed to the Stock Exchange at 10am they had stepped down from their posts.
They follow chief executive Lee Hoos out of the door at St Mary's, after he officially resigned on Tuesday.
Crouch has also quit his post on the football club board.
Today's announcement means the EGM, which was scheduled for tomorrow, will no longer be required, with Lowe and Wilde free to take power today.
Wiseman, who had served on the board for 21 years, this morning issued a statement, on behalf of himself, Crouch and Trant.
It said: "On behalf of Leon Crouch, Patrick Trant and myself I confirm that as at 10am on Thursday the 15th May 2008 we have resigned from the Board of Southampton Leisure Holdings and in Leon's case from the Football Club Board as well.
"I particularly regret that Leon and Patrick have by force of circumstance had a relatively limited period of involvement at board level although they have both very much made their mark and have been a pleasure to work with.
"Lee Hoos of course resigned on Tuesday from his executive position on the board and I would like to thank him for his hard and ultimately successful work this season in very difficult circumstances.
"Real success will hopefully return for the club sooner rather than later.
"From a personal point of view I have had the great privilege of board membership for the last twenty one years and it is now over fifty years since I first started to support the club.
"The club has been through difficult times in recent years, a situation created almost entirely by the loss of premiership revenue and the failure to return immediately to the top division.
"The effort made in the season before last brought us agonisingly close but the complete absence of parachute payments during this last year has placed enormous constraints upon what we have been able to deliver.
"The form of the team fell away alarmingly in the early weeks of 2008 and I would like to pay heartfelt tribute to Nigel Pearson for his sterling work in the last period of the season that saw us finally into a safe position after the memorable last match against Sheffield United. He deserves every opportunity to remain with us.
Click here to read Leon Crouch's statement
"The board came under pressure from Rupert Lowe and Michael Wilde to resign long before the end of the season; we resisted that pressure because although they hold significant shareholdings we did not believe that any further disruption at the club before the end of the season could possibly be to the benefit of the team.
"We now feel therefore that our approach in that respect was entirely justified.
"We have also been aware for many months that there has been the prospect of significant financial investment in the club.
"We have remained in office right up to the day before the Extraordinary General Meeting because we felt that negotiations were going well and it would have been a great pleasure to have been able to place the club into the care of those who hopefully will have the financial muscle to return us again to the Premiership place that the club is geared up for in so many ways particularly our magnificent ground.
"As far as we are aware neither Rupert Lowe nor Michael Wilde have financial resources that can be used to benefit the club and we are well aware that the vast proportion of the shareholding they can at present command is in the hands of a very few close friends and does not in any way reflect the views of most of the fans of the club.
"However in legal terms we have no choice but to stand down.
"We sincerely hope that the period in office of the incoming board will be very short; not so much because of our personal views but because that would mean that significant resources were being made available to take the club forward.
"We shall of course remain devoted on a personal basis to the best interests of the club and will continue our lifelong support of the team."
Log onto the Daily Echo website at 10.30am for a full statement from Leon Crouch.
Mr X, says...
10:07am Thu 15 May 08
Alan S, eastleigh says...
10:11am Thu 15 May 08
Saints Fan, Soton says...
10:11am Thu 15 May 08
"We have also been aware for many months that there has been the prospect of significant financial investment in the club.
Adam F, says...
10:16am Thu 15 May 08
sparky wilts, here says...
10:17am Thu 15 May 08
Wazza, says...
10:17am Thu 15 May 08
Portswood Pete, says...
10:17am Thu 15 May 08
Al, Yorkshire says...
10:17am Thu 15 May 08
SouthwaterSaintMC, Southwater West Sussex says...
10:18am Thu 15 May 08
George, Weston-super-Mare says...
10:23am Thu 15 May 08
Duh, Southampton says...
10:26am Thu 15 May 08
thedelldays, says...
10:29am Thu 15 May 08
Saint Madcap, Gloomy Horndean says...
10:44am Thu 15 May 08
Soon to be Ex-ST holder, LOWE OUT says...
10:55am Thu 15 May 08
thedelldays, plymouth says...
11:02am Thu 15 May 08
Soon to be Ex-ST holder wrote:this is exactly the thing we should not do...fans have done enough damage over recent years and it is time to sit back and see what happens before we go into militant style protests...
A sad day for our once great Football club. Now it is up to the fans to show lowe he is NOT welcome here. NO new shirts, NO ST renewals..., money is the only thing the \"Greed and Self-Interest\" man knows.
James, says...
11:03am Thu 15 May 08
thedelldays, plymouth says...
11:07am Thu 15 May 08
Soon to be Ex-ST holder wrote:this is exactly what we should NOT do...saints fans have done alot of damage exerting their influence in recent years...lets see what happens before we all go nuts for once..
A sad day for our once great Football club. Now it is up to the fans to show lowe he is NOT welcome here. NO new shirts, NO ST renewals..., money is the only thing the "Greed and Self-Interest" man knows.
Portswood Pete, says...
11:09am Thu 15 May 08
Soon to be Ex-ST holder wrote:Yes that's the way, force the club out of business because you don't like one person. That would hurt true fans like me, not Lowe. Nitwit!
A sad day for our once great Football club. Now it is up to the fans to show lowe he is NOT welcome here. NO new shirts, NO ST renewals..., money is the only thing the \"Greed and Self-Interest\" man knows.
Ric Flair, says...
11:17am Thu 15 May 08
Soon to be Ex-ST holder wrote:Thats saints fans your talking about
A sad day for our once great Football club. Now it is up to the fans to show lowe he is NOT welcome here. NO new shirts, NO ST renewals..., money is the only thing the "Greed and Self-Interest" man knows.
Dave, Eastleigh says...
11:21am Thu 15 May 08
Duh wrote:Tell you what Duh, as you don't like seeing all those red and white shirts on match days why don't you move to Pompey instead? Hopefully there will be a lot more red and white shirts next season because it will show that Saints are doing so much better and pushing for promotion.
I bored of hearing about football. Move the Saints ground to Pompey and let Southampton be rid of it? I'm fed up every match day of seeing red & white pikey shirts out of my window, so get rid of the lot.
Tay, Soton says...
11:28am Thu 15 May 08
Jesus_02, Kingsland says...
11:53am Thu 15 May 08
Andy P, Bitterne says...
12:00pm Thu 15 May 08
Portswood Pete wrote:You have to much to say Pete, most of it total rubbish.
"We have also been aware for many months that there has been the prospect of significant financial investment in the club More BS. They can now say "oh look, the investment we were bringing in isn't happening because of Lowe and Wilde" when, in reality, there is no investment, why they are trying to curry favour with a few gullible fans is beyond me.
Dave, Southampton says...
12:04pm Thu 15 May 08
Duh wrote:Ever considered moving your Caravan somewhere else?
I bored of hearing about football. Move the Saints ground to Pompey and let Southampton be rid of it? I'm fed up every match day of seeing red & white pikey shirts out of my window, so get rid of the lot.
Barnacle Bill, somewhere on the high seas says...
12:05pm Thu 15 May 08
John B, Bitterne says...
12:10pm Thu 15 May 08
Adam F wrote:The former board led by Crouch has managed to nearly destroy the club both financially and on the field .
A sad day for the club. Leon Crouch and co did there best for us but people who hold their own ego\\\'s in higher esteem than the club hav taken over and will drive this club in2 the ground. SFC RIP
John B, Bitterne says...
12:21pm Thu 15 May 08
Barnacle Bill wrote:It is not Rupert Lowe who is divisive it is some of the fans moaning and whingeing.
Rupert Lowe is a most divisive influence on this club and its supporters as can be witnessed by the above comments. I disliked the man for the way he managed the club last time and was glad to see the back of him. I am sure things will be no different this time around. I have my season ticket and I shall cheer on the team as always but I will not spend any money on any merchandising, food etc which is what I did when I had had enough of the man last time. I also have my duck call whistle and will let Lowe know exactly how I feel when things go badly wrong as they no doubt will when he has replaced our current team with players of Div 1 standard. Finally I met just think he has changed his spots when he confirms Nigels as our manager.
sth for 30yrs, soton says...
12:37pm Thu 15 May 08
Portswood Pete, says...
12:42pm Thu 15 May 08
Andy P wrote:Pots and Kettles Andy. If Sisu, or anyone else wants to buy the club there's nothing really that Lowe or anyone else can do, ask Man Utd shareholders. This talk of investors has been just that, talk, no substance whatsoever Just because you want to make Lowe the bad guy in all this doesn't make it so. The shareholder doesn't have to "offer" shares, there's got to be someone willing to buy the darn things.
Portswood Pete wrote: "We have also been aware for many months that there has been the prospect of significant financial investment in the club More BS. They can now say "oh look, the investment we were bringing in isn't happening because of Lowe and Wilde" when, in reality, there is no investment, why they are trying to curry favour with a few gullible fans is beyond me.You have to much to say Pete, most of it total rubbish. How can anyone invest in SFC, if shares are not being offered,or in this case, delibrately witheld as a means of stopping investment. Quite simple really,dont you think?
Marian, soton says...
12:43pm Thu 15 May 08
A True Saint, says...
1:01pm Thu 15 May 08
Marian wrote:Probably by NOT putting any money into the club although he promised he would if Lowe walked but he still got his snout in the trough.
Please tell me HOW Patrick Trant has "very much made his mark" on SFC ... haha biggest laugh ive had all day.
Osama Bin Laden, A Cave far far away says...
1:08pm Thu 15 May 08
Dave wrote:Hes right lets just give up go home and support Eastleigh
Duh wrote:Ever considered moving your Caravan somewhere else?
I bored of hearing about football. Move the Saints ground to Pompey and let Southampton be rid of it? I'm fed up every match day of seeing red & white pikey shirts out of my window, so get rid of the lot.
Layabout, Lordshill says...
1:20pm Thu 15 May 08
SouthwaterSaintMC wrote:The directors that Rupert Lowe is replacing may have worked hard, but they were hopelessly out of their depth.
OK Lowe you've thrown your weight around and finally removed a hard working bunch of directors. Now lets see you back it up and get some real investment into this club. Support Nigel Pearson - you know he's the right man for the job - and get him some funds to rebuild the squad. Why do I get the feeling that comments like mine will fall on deaf ears. Oh yes, because last time you were in charge you failed to listen to the real football fans and look what mess that got us in to. So you,ve got a second chance make sure you don't louse it up this time. COYR
Benny Fitt, Thornhill says...
1:23pm Thu 15 May 08
Andy P, Bitterne says...
2:08pm Thu 15 May 08
Portswood Pete wrote:What part of my last post do you not understand.
Andy P wrote:Pots and Kettles Andy. If Sisu, or anyone else wants to buy the club there's nothing really that Lowe or anyone else can do, ask Man Utd shareholders. This talk of investors has been just that, talk, no substance whatsoever Just because you want to make Lowe the bad guy in all this doesn't make it so. The shareholder doesn't have to "offer" shares, there's got to be someone willing to buy the darn things.Portswood Pete wrote: "We have also been aware for many months that there has been the prospect of significant financial investment in the club More BS. They can now say "oh look, the investment we were bringing in isn't happening because of Lowe and Wilde" when, in reality, there is no investment, why they are trying to curry favour with a few gullible fans is beyond me.You have to much to say Pete, most of it total rubbish. How can anyone invest in SFC, if shares are not being offered,or in this case, delibrately witheld as a means of stopping investment. Quite simple really,dont you think?
Costa Baz, says...
2:34pm Thu 15 May 08
Saints Fan wrote:Sometimes you can believe some things you read, such as the following quote from Wiseman's statement "The club has been through difficult times in recent years, a situation created almost entirely by the loss of premiership revenue and the failure to return immediately to the top division."
\"We have also been aware for many months that there has been the prospect of significant financial investment in the club.You shouldn\'t believe everything you read on internet message boards. Close the door on your way out, Leon.
Rob, Winchester says...
2:52pm Thu 15 May 08
Jesus_02 wrote:What do you mean "Crouch has not made any false claims"? Crouch rubbished reports that Saints needed money early from the Walcott deal, a few weeks later Crouch went to Arsenal cap in hand.
Pete, I think you have answered you own question. "Why try to curry favour" perhaps there is a grain of truth there after all. Crouch has not made any false claims. The merry-go-round till Rupert makes a profit from the sale of the club. Think about it this way. Crouch has come in purchased shares at 50p if the club is sold a market value 30p a share that represents a large loss. Add this to the money he has spent on the Ted Bates statue and you have the measure of his commitment to saints. RL made around 6m on the day that Saints where floated on the stoke exchange that alone is just under a 3rd of the clubs present value. Lowe has more wealth than Crouch because he has made a good deal from Southampton FC. The club will be sold under RL and Wilde as : a) they have no interest in running saints long term b) Leon Crouch will capitulate for the benefit of the Club c) expect large bonuses to go the way of Wilde and RL when the club changes hands The fact that should not be overlooked is that Keith Wiseman is leaving the club after 21years of service. Says it all really
SouthwaterSaintMC, says...
4:30pm Thu 15 May 08
Layabout wrote:Had our earstwhile ex-chairman looked at the bigger picture whilst we were in the premiership we would not have these financial problems.
SouthwaterSaintMC wrote: OK Lowe you've thrown your weight around and finally removed a hard working bunch of directors. Now lets see you back it up and get some real investment into this club. Support Nigel Pearson - you know he's the right man for the job - and get him some funds to rebuild the squad. Why do I get the feeling that comments like mine will fall on deaf ears. Oh yes, because last time you were in charge you failed to listen to the real football fans and look what mess that got us in to. So you,ve got a second chance make sure you don't louse it up this time. COYRThe directors that Rupert Lowe is replacing may have worked hard, but they were hopelessly out of their depth. The investment that was promised, never materialised. You ask why comments like your will fall on deaf ears, and claim he did not listen to 'real football fans' when he was in charge! I wonder if you were one of the 'tiny minority' who had their chance to attend a meeting with Crouch's board members? I doubt it! The first priority for Rupert Lowe is to sort out the club's financial problems, and stop it leaking money. How many 'real football fans' do you think would have the expertise to advise him on that subject? You can bet your life, their main subject would be, 'reduce ticket prices and reduce cost of replica shirts', which would increase the financial problem rather than solve it!
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Ric Flair, says...
10:07am Thu 15 May 08