Pinnacle bid teeters on the brink (From Daily Echo)
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Pinnacle bid teeters on the brink
6:00am Saturday 20th June 2009 in
-
- By Adam Leitch » Chief Sports Writer
PINNACLE are at loggerheads with the Football League as their proposed takeover of Saints teeters on the brink.
The Matt Le Tissier-backed consortium are refusing to accept that they will be barred from appealing against Saints’ ten point deduction should their takeover go through, leaving their bid in jeopardy.
As Pinnacle insist they want to appeal, the League have not yet issued them with a licence to play in the 2009/10 season.
Pinnacle went into yesterday, the final day of their three week exclusivity period, with high hopes of completing a takeover and announcing themselves as the new owners of the club.
But by the time the day came to end they were facing the possibility that their bid could fold on Monday – with administrator Mark Fry preparing to talk to other potential purchasers over the weekend.
Full story in today's Daily Echo
Comments(53)
adam1981
says...
8:10am Sat 20 Jun 09
paulmsh
says...
8:30am Sat 20 Jun 09
XRT
says...
8:36am Sat 20 Jun 09
Security word: hear-here
Bassett Boy
says...
9:14am Sat 20 Jun 09
Therefore the FL have breached their own rules by making the decision to place a sanction against the club.
Pinnacle, wish to have the right to appeal that decision (in a court of law if necessary).
The FL realising that they are in a difficult situation, have attempted to get the potential buyers to sign a waiver of their right to appeal the 10 point deduction.
Whilst holding the "license" to play in the league as a form of blackmail.
This attempt at blackmail must not be allowed to happen and rightly the lawyers are fighting this.
As Ist Viscount
Gordon Hewart said many years ago
"Justice should not only be done, but should manifestly and undoubtedly be seen to be done"
Bashfan
says...
9:25am Sat 20 Jun 09
XRT
says...
9:35am Sat 20 Jun 09
paulmsh wrote:I wonder what Mawhinney's best buddy thinks of it all, oh wait......
Shouldn't the Football League be trying to help clubs survive in these difficult times? Hopefully on Monday they will accept that the ten point deduction was inconsistent with their treatment of similar cases in the past. If they rescind the deduction then there won't need to be an appeal.
La Manga
says...
9:45am Sat 20 Jun 09
The moment the -10 was inflicted the FL have tried to hush this up and shove it under the carpet. Let's get this out in the open again, and give what they've done some more publicity. It's only fair of which their actions have not.
saintdazla
says...
9:48am Sat 20 Jun 09
yarcosaint
says...
9:54am Sat 20 Jun 09
XRT wrote:few points i wish to make
paulmsh wrote: Shouldn't the Football League be trying to help clubs survive in these difficult times? Hopefully on Monday they will accept that the ten point deduction was inconsistent with their treatment of similar cases in the past. If they rescind the deduction then there won't need to be an appeal.I wonder what Mawhinney's best buddy thinks of it all, oh wait......
1) yes the league should be trying to help clubs
(but not if your not in the premiership)
didn't stockport try hard to stay out of admin and the FA wouldn't ever give any lee way
although i have to say the ruling on stockport could help our case
2) I believe even mass murders and such like have the right to appeal.
didn't pinnacle state they wanted the right to appeal
3) i always assumed blackmail was against the law
i guess when your a complete and utter kn*b head like Mawhinney and his cronies at the FA they think they are above the law
4) When we play Norwich this coming season(notice i said when)please give them a hard time(i will be) as i am living locally in in the area and they were actively pushing for us to get the 10 points before we were docked them many fans were laughing with comments like at least your going one way or another
shrewton saint
says...
9:56am Sat 20 Jun 09
saintjak
says...
10:06am Sat 20 Jun 09
ShakeyWiffles
says...
10:10am Sat 20 Jun 09
Sw Warm test - hmmm warm you say?
Saint
says...
10:28am Sat 20 Jun 09
pawnsacrifice wrote:No your wrong!
FFS Pinnacle...do you want the club or not? If you asked us fans, I reckon pretty much all of us would take the -10 points so the club would survive. If you pull out now, the club could go under. I still fint it amazint that this has only come to light on the last day...clueless
We should not role over and let Mawhinney keep on being a pratt. If you do where dose it stop. They would not treat Man U like this.
Southampton F.C. have a legal right to appeal. A right Pinnacle are and should fight for. Why should they sign papers accepting the points, and letting the league bully us into agreeing not to appeal. What orgnisation works like this, saying you have no rights to appeal. If you get a parking ticket, you have the right to appeal.
Pinnacle have had lawyers on the case, and I am sure that they see Saints have played by the rules, and if the rules have a loophole. Then in a court of law the league have screwed up not Saints!
I back Pinnacle 100% to challenge this as they obviously want to make sure as best they can that we are promoted this coming season, and not the next.
Question for you. If at the end of the season we have the minus ten points and we lose a place to get promotted by elveen points. Then would you be happy to accept Mawhinney bully games to try and hide his mistake, and we spend another season in this lower league?
Stand up to bullies!
robk
says...
10:29am Sat 20 Jun 09
Common as Saints
says...
10:31am Sat 20 Jun 09
Of course my main concern is the survival of Saints but we shouldn't let the FL take advantage of us and exploit the situation we are in. I say fair play to Pinnacle and i will be voicing my protests directly to the FL!
tauntonsaint
says...
10:32am Sat 20 Jun 09
This is, in any language, blackmail, and is disgraceful and an affront to any kind of natural law in a democracy. They are acting like a Mafia gang or some kind of Medieval despot.
Yes, we may lose that appeal, as in any court in the land, and abide by that decision, but to deny the basic right of appeal in such a way is deplorable and inexcusable.
Southampton Heart
says...
10:40am Sat 20 Jun 09
We just want to appeal and to get to the truth what's wrong with that FL?.
If we're wrong then so be it. We just want "FAIR JUSTICE".
JUSTICE FOR SOUTHAMPTON FC!
threetoonefav
says...
10:42am Sat 20 Jun 09
Matthew Le Tissier remains confident his Pinnacle consortium will complete their takeover of Southampton in the not too distant future.
It had been hoped the consortium might have been able to finalise a deal on Friday, but a late hitch regarding legal issues with the Football League have delayed an announcement.
Le Tissier has admitted is has been a frustrating time for all, however, he believes Pinnacle are not to blame for the delays as questions from themselves to The League have yet to be answered.
Despite the late hitch in Pinnacle's bid to takeover the now League One outfit, the Saints legend insists he is as committed as ever to getting his hands on the club he loves.
Frustration
"It's been a frustrating time for us despite several attempts for clarity over the Football League's position over the license-related matter. Which we still have no answer," he told Sky Sports News.
"It's not a new issue. But it has to be resolved to our satisfaction in order to conclude the takeover.
"Despite continual outside interference with our bid we're committed to completing a deal as we feel it's in the best long-term interests of Southampton football club, which is obviously what I care about.
"We're hoping that we can get this resolved shortly and the next announcement that we make will be to confirm the takeover.
"I'd like to thank the staff at the football club and the indeed the fans for their patience in the matter. It's very much appreciated from all concerned."
season ticket holder
says...
10:47am Sat 20 Jun 09
Bassett Boy wrote:I think that Derby a few years ago ,when Burley was in charge,(2003-5 )did not have any points deducted because the parent company went into administration and not the football club.
Fry has pointed out to the FA all along that SFC was NOT in adminstration & being a professional administrator, one must assume that he knows what he's talking about! Therefore the FL have breached their own rules by making the decision to place a sanction against the club. Pinnacle, wish to have the right to appeal that decision (in a court of law if necessary). The FL realising that they are in a difficult situation, have attempted to get the potential buyers to sign a waiver of their right to appeal the 10 point deduction. Whilst holding the "license" to play in the league as a form of blackmail. This attempt at blackmail must not be allowed to happen and rightly the lawyers are fighting this. As Ist Viscount Gordon Hewart said many years ago "Justice should not only be done, but should manifestly and undoubtedly be seen to be done"
billythesaint
says...
11:10am Sat 20 Jun 09
rednwhite1
says...
11:14am Sat 20 Jun 09
Saint
says...
11:25am Sat 20 Jun 09
rednwhite1
says...
11:54am Sat 20 Jun 09
sw show-them . WOW
weh8pompey
says...
11:56am Sat 20 Jun 09
why should the new board settle for such crap?a strong board is exactly what this club is missing!you wouldnt accept 6 points on your licence for no reason would you?why should the buyer spend his hard earned cash buying unnecesary players to make up 10 points when he dosnt have to?
weh8pompey
says...
11:58am Sat 20 Jun 09
weh8pompey
says...
12:00pm Sat 20 Jun 09
DorsetSaint
says...
1:10pm Sat 20 Jun 09
the FL want to see all the debt paid despite the fact the creditors are happy with say 40p in the £
If they accept the deal then the arguement over the 10 points is lost as it proves SLH and SFC are two seperate entities.
I've said it before SLH won't have a CVA as it will be wound up and no longer exist, SFC don't need a CVA as they have never been in admin.
The FL have just realised this when Pinancle applied for the transfer which they couldn't do until all the other legal hoops had been crossed,
No one else will be buying the club under the FL eyes as they would have to pay the full value of the debt and buy SLH.
Monday is the biggest day in the clubs history and it could well be the end of the club as effectively the club will have no value.
DorsetSaint
says...
1:12pm Sat 20 Jun 09
saint Dai
says...
2:25pm Sat 20 Jun 09
WHO IS THIS MONEY MAN is the bigger question , a.. secretive , successful,
no nonsense,
v rich
buiness man.
suggestions to all season ticket holders and employees gratefully eccepted!!!!
wolfsaint
says...
2:27pm Sat 20 Jun 09
saint Dai
says...
2:34pm Sat 20 Jun 09
DorsetSaint wrote:so an asset stripper then dorset, the plot thickens.....
the 10 points is the smoke screen, the real problem is Pinancle are buying assets not SLH and not paying the full debt value. the FL want to see all the debt paid despite the fact the creditors are happy with say 40p in the £ If they accept the deal then the arguement over the 10 points is lost as it proves SLH and SFC are two seperate entities. I've said it before SLH won't have a CVA as it will be wound up and no longer exist, SFC don't need a CVA as they have never been in admin. The FL have just realised this when Pinancle applied for the transfer which they couldn't do until all the other legal hoops had been crossed, No one else will be buying the club under the FL eyes as they would have to pay the full value of the debt and buy SLH. Monday is the biggest day in the clubs history and it could well be the end of the club as effectively the club will have no value.
meaning the club is an asset of SLH...
buy it cheap , and make it work...
RahRah
says...
3:26pm Sat 20 Jun 09
normsted
says...
3:36pm Sat 20 Jun 09
Linesman
says...
4:32pm Sat 20 Jun 09
paulmsh wrote:The Football League will not rescind the deduction for the simple reason that, if they did, Leeds United, Luton Town etc etc would all be slapping in a law-suit against the Football League.
Shouldn't the Football League be trying to help clubs survive in these difficult times? Hopefully on Monday they will accept that the ten point deduction was inconsistent with their treatment of similar cases in the past. If they rescind the deduction then there won't need to be an appeal.
It is quite usual that, if you wish to join a club, you accept their rules. If you cannot accept their rules - rules that all other members accept - then you don't join, and that is the situation that the Pinnacle Group find themselves in.
Either they accept the rules or they give the other consortium a chance to ensure that Southampton FC are members of the Football League for the season 2009/10.
They are putting the existence of Saints as a Football League club at risk!
Pinnacle Group.
Sign up or ship out!
cherries_fan
says...
5:31pm Sat 20 Jun 09
Ever since Leeds they have insisted that clubs revoke their right to appear the 10 point deduction.
Its not ideal but that is how the old boys club that the league board operates and if you want to be playing in any league next year then you will have to accept it.
Otherwise there will be chaos as all the recent teams being deducted points start to appeal.
Captain Kirk
says...
5:36pm Sat 20 Jun 09
Linesman wrote:Linesman you really are a t**t. The pojnt you have missed is that the league have not applied their own rules properly. That is bad enough on its own but what makes it worse is that they are now trying to manipulate a situation whereby SFC cannot exercise its right to appeal. This is just typical of the behaviour of those involved in the administration of the game. They twist the rules and fail to understand that by doing so they bring the game into disrepute. A bunch of cheating blackmailers. I think Pinnacle are doing a great job in standing up to the league. They have earned my respect just by doing that.
paulmsh wrote: Shouldn't the Football League be trying to help clubs survive in these difficult times? Hopefully on Monday they will accept that the ten point deduction was inconsistent with their treatment of similar cases in the past. If they rescind the deduction then there won't need to be an appeal.The Football League will not rescind the deduction for the simple reason that, if they did, Leeds United, Luton Town etc etc would all be slapping in a law-suit against the Football League. It is quite usual that, if you wish to join a club, you accept their rules. If you cannot accept their rules - rules that all other members accept - then you don't join, and that is the situation that the Pinnacle Group find themselves in. Either they accept the rules or they give the other consortium a chance to ensure that Southampton FC are members of the Football League for the season 2009/10. They are putting the existence of Saints as a Football League club at risk! Pinnacle Group. Sign up or ship out!
Hercules Grytpype-Thynne
says...
7:11pm Sat 20 Jun 09
It is the opinion of the FL that they did.
In a court of law what wins the days is facts not opinions. This simple fact is why the FL are running scared and if an appeal is successful then they will be in a mess. Well I couldn’t care less about that for that is the mess they have made and I do not see why we should be penalised.
Pinnacle are behaving correctly but sadly are opposed by a bunch of scoundrels masquerading as FL officials. Fry must give them all the time they need to sort this out and we fans must be right behind Matty and Co.
Any over bidders who come in and who do not stand up to the FL are not people who should be running SFC. We like men of honour and principle at SFC. We have seen to many of the other sort over the last few years.
I now have a great deal of respect for the Pinnacle group but despise the charlatans that run football in this country.
They would not dare do this to MU or CFC but they will bully every other club if they can get away with it.
You must never give into bullies. You must punch them on the nose where it really hurts. That is how I have always dealt with them.
mastershot100
says...
8:19pm Sat 20 Jun 09
Jesus_02
says...
8:26pm Sat 20 Jun 09
cherries_fan wrote:you are exactly right Football League are not treating us in anyway different to all the other clubs in administration.
As a Cherries fan I can tell you that the Football League are not treating you in anyway different to all the other clubs in administration.
Ever since Leeds they have insisted that clubs revoke their right to appear the 10 point deduction.
Its not ideal but that is how the old boys club that the league board operates and if you want to be playing in any league next year then you will have to accept it.
Otherwise there will be chaos as all the recent teams being deducted points start to appeal.
The thing is that we are not in administration. The fans put their hands in their pockets to stop that happening.
However I also believe that the football league should be stopping clubs going into administration, and supporting financial hardship of lower league clubs. Bournemouth didnt over stretch themselves trying for European Glory like Risdale did with Leeds and is now doing with Cardiff. It's a disgrace
tauntonsaint
says...
8:48pm Sat 20 Jun 09
mastershot100 wrote:Was he wih Fonebone and Fonebone, lawayers?
Alfred E Nueman has been seen at St.Marys.
Invidia
says...
10:21pm Sat 20 Jun 09
chapellady
says...
11:29pm Sat 20 Jun 09
dannyep
says...
2:53am Sun 21 Jun 09
dannyep
says...
3:17am Sun 21 Jun 09
dannyep
says...
5:47am Sun 21 Jun 09
backseatbarrister
says...
8:39am Sun 21 Jun 09
At the end of the day why should we be treated different to other clubs just because of a legal loophole, not very sporting is it ? I love Southampton Football Club, to me it means pride, passion and ...... fairness. Winning the ten points back through a loophole doesnt sit too comfortable with me, winning them back on the pitch - thats a different story.
COME ON YOU REDS
season ticket holder
says...
12:17pm Sun 21 Jun 09
backseatbarrister wrote:As has been said before Derby "got away with it". That shows that the Football League are on sticky ground trying to impose the 10 point deduction
whilst I agree that Pinnacle should have the right to appeal I also understand, in court the FL would have a strong case. Though the facts show SLH went into administration, not the club the FL may just need to prove that SFC and SLH are inextricably linked (we all know they are) after all, they have/had no other business. Unfortunately a judge might rule in favor of the FL. Note that his job is to balance facts AND other mitigating evidence which would include fairness to past clubs (Leeds United and Luton Town) At the end of the day why should we be treated different to other clubs just because of a legal loophole, not very sporting is it ? I love Southampton Football Club, to me it means pride, passion and ...... fairness. Winning the ten points back through a loophole doesnt sit too comfortable with me, winning them back on the pitch - thats a different story. COME ON YOU REDS
Tirau Dan (NZL)
says...
9:15pm Sun 21 Jun 09
Southampton Heart
says...
10:59pm Sun 21 Jun 09
Having eventually calmed down from the emotional disappointment from Friday...I think that the FL will take us seriously this time (hence the emergency meeting) as the worlds media will be watching closely.
I believe that Kevin Keegan's involvement has helped raise the profile of our club with the FL and believe that the media coverage has given us some creditbility. MLT's connection with Sky must have helped us too.
I do hope the FL will allow us a license for the sake of the "beautiful game" and for the sake of "fair justice". If the FL are right in the eyes of the law.....that's fair enough....what's wrong with the truth?.
backseatbarrister
says...
9:02am Mon 22 Jun 09
season ticket holder wrote:Thanks for pointing that out, certainly puts a different swing on it.
backseatbarrister wrote:As has been said before Derby "got away with it". That shows that the Football League are on sticky ground trying to impose the 10 point deduction
whilst I agree that Pinnacle should have the right to appeal I also understand, in court the FL would have a strong case. Though the facts show SLH went into administration, not the club the FL may just need to prove that SFC and SLH are inextricably linked (we all know they are) after all, they have/had no other business. Unfortunately a judge might rule in favor of the FL. Note that his job is to balance facts AND other mitigating evidence which would include fairness to past clubs (Leeds United and Luton Town) At the end of the day why should we be treated different to other clubs just because of a legal loophole, not very sporting is it ? I love Southampton Football Club, to me it means pride, passion and ...... fairness. Winning the ten points back through a loophole doesnt sit too comfortable with me, winning them back on the pitch - thats a different story. COME ON YOU REDS
BertCatt
says...
3:00pm Mon 22 Jun 09
SW flat-mind. More like closed mind where the F/L is concerned.
BertCatt
says...
2:37am Tue 23 Jun 09
At least that what my 'source' tells me!
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pawnsacrifice says...
7:23am Sat 20 Jun 09
If you asked us fans, I reckon pretty much all of us would take the -10 points so the club would survive.
If you pull out now, the club could go under.
I still fint it amazint that this has only come to light on the last day...clueless