Pinnacle fighting for right of appeal against points deduction in Saints' takeover

3:00pm Monday 22nd June 2009

By Simon Carter

PINNACLE remain very confident they can complete their delayed takeover of Saints following the Football League’s emergency board meeting today.

The Matt Le Tissier-backed group failed to do a deal before their 21-day period of exclusivity expired on Friday evening.

In what was a huge anti-climax, the takeover wasn’t completed due to the Football League asking Pinnacle to waive their rights to appeal against the club’s 10-point deduction which comes in at the start of next season.

As Pinnacle refused to do that, the League have yet to issue them the licence needed to play in 2009/10 – a licence that was withdrawn after Southampton Leisure Holdings PLC, the club’s parent company, had entered administration.

But following talks over the weekend, the Echo understands that Pinnacle believe the problem will be ironed out after the League’s board meeting today.

Pinnacle’s Tony Lynam said last night: “We remain totally confident the takeover will go through.”

The last-minute delay with regards to Pinnacle’s appeal against the deduction led many fans to question why that matter had not been sorted out earlier in the period of exclusivity.

Lynam said the League have always been aware of Pinnacle’s plan to appeal but it was not until the middle of last week that the stumbling block which was made public on Friday came to Pinnacle’s attention The 10-point deduction imposed by the League last April following Southampton Leisure Holdings PLC’s descent into administration is not the stumbling block to Pinnacle completing their drawn-out takeover.

Lynam said: “The issue of the points deduction is for another day. We just want the right to appeal against it.

“We don’t want to make an enemy of the Football League, we realise we need to work with them.”

Lynam added: “This is not a new issue, rather something which we have made clear from day 1 – and something which the Administrators of Southampton Leisure Holdings PLC (Mark Fry) has been party to since we engaged in our discussions.

“We remain totally committed to completing this deal as it is clearly in the best long term interests of the club and signifies a new start with the right people in control of Southampton Football Club, signifying a fresh start and an opportunity for a brighter future.

“Significant to our ability to complete our takeover, we are simply asking for clarity, nothing more, nothing less.

“We will continue to work hard with the Administrators of Southampton Leisure Holdings PLC to finalise these matters.”

As revealed in Saturday’s Echo, a consortium featuring Marc Jackson and Stuart Green are waiting in the wings if Pinnacle’s deal does not go through.