When news happens, text SDE and your photos or videos to 80360. Or contact us by email and phone.
11:10am Thursday 2nd July 2009 in
MARC Jackson is formulating a “rescue package” to save Saints should the remaining bids to buy the club collapse.
The Dorset businessman revealed the group was in talks with administrators and the Football League last night.
But he said the group, comprised of an equity fund and a wealthy individual, would only take control “as a last resort”.
Ironically, it is the same consortium that submitted the first official bid two months ago before the Pinnacle Group was awarded exclusivity.
The latest development comes just 24 hours after another bid fronted by Mr Jackson withdrew from the race just hours before the Pinnacle Group dramatically disintegrated.
As revealed by the Echo, a group with financial backers in Israel pulled out because of pressure to complete a quick deal.
“We have now gone full circle,” Mr Jackson told the Daily Echo.
“We now have exactly the same group we had before Pinnacle signed exclusivity. They never really went away, their view was that their bid always stayed in place.
“This will be a rescue package. I do not want to put off any of the other bids, but we will be here if all else fails.”
The Echo understands the bid would be well below administrator Mark Fry’s target sale price of about £15m.
The group’s original bid was rejected by Mr Fry as it was based on instalments paid on future promotion to the Championship and, ultimately, the Premier League.
Mr Jackson said the new bid, the value of which he would not reveal, was in place to help stave off liquidation of the club’s assets.
“We are trying to structure it so that it protects the club,” he said.
“If no one comes forward and purchases the club Mark Fry will be in a position where he has to put the club into administration.
“He could structure it in a way that is not as bad for the club and potentially ask the Football League to not impose any further point deductions.”
Current Thailand manager and former Saints player Peter Reid has been made Mr Jackson’s top target to lead the team in League One.
Reid denied that he had been approached for the job, but said he would be open to offers.
Comments(27)
Dan the Dean
says...
11:16am Thu 2 Jul 09
SFC4EVA
says...
11:17am Thu 2 Jul 09
Fawleysajollygoodfellow
says...
11:20am Thu 2 Jul 09
Ken Hutchinson
says...
11:23am Thu 2 Jul 09
season ticket holder
says...
11:38am Thu 2 Jul 09
Glenn(Leeds)
says...
11:43am Thu 2 Jul 09
Saint_John
says...
11:49am Thu 2 Jul 09
realistic lover
says...
11:53am Thu 2 Jul 09
milton road
says...
12:05pm Thu 2 Jul 09
San Marco
says...
12:05pm Thu 2 Jul 09
Ken Hutchinson
says...
12:14pm Thu 2 Jul 09
saintofatheism
says...
12:16pm Thu 2 Jul 09
Portswood Pete
says...
12:20pm Thu 2 Jul 09
Rossbkr C.O.Y.R
says...
12:20pm Thu 2 Jul 09
milton road wrote:totally agree, he may not be first choice, but if it means i can still support my team then so be it..... rather have him and my team at the minute.... i've been a supporter since i was 4 and my dad sat me on his shoulders, im not ready to give up on them...i just want my support my team, not winge and moan all the time!
ANYONE COMING UP WITH ANY PLAN TO SAVE THIS CLUB I AM GRATEFUL TO INCLUDING MR. JACKSON. THE STUPIDITY OF PEOPLE CUTTING THEIR NOSES OFF TO SPITE THEIR FACE WILL SEE US WITHOUT ANY BACKERS AT THIS RATE. I HAVE SUPPORTED SAINTS SINCE 1965. I HAVE COME TO THE CONCLUSION THE TAG OF BEING THE MOST WINGING SUPPORTERS IN FOOTBALL IS WELL EARNT. THAT MORE THAN ANYTHING HAS MADE US THE LAUGHING STOCK OF FOOTBALL. SOME OF YOU NEED TO STOP THROWING YOUR TOYS OUT YOUR PRAMS AND GROW UP. YOU KNOW LITTLE OR NOTHING OF WHAT IS GOING ON BEHIND THE SCENES.LET THE REAL MEN TRY AND SAVE THE CLUB AND GO AND PLAY WITH YOUR DINKY TOYS. UNLESS YOU HAVE THE MONEY TO PUT WHERE YOUR MOUTHS ARE
Whiteley supporter
says...
12:23pm Thu 2 Jul 09
S-Saint
says...
12:24pm Thu 2 Jul 09
SaintHarry
says...
12:25pm Thu 2 Jul 09
realistic lover
says...
12:34pm Thu 2 Jul 09
The Grinch
says...
12:35pm Thu 2 Jul 09
Propercynic
says...
1:00pm Thu 2 Jul 09
saint tom
says...
4:04pm Thu 2 Jul 09
normsted
says...
6:45pm Thu 2 Jul 09
Rossbkr C.O.Y.R wrote:Well dont whinge and moan then-sorted
milton road wrote:totally agree, he may not be first choice, but if it means i can still support my team then so be it..... rather have him and my team at the minute.... i've been a supporter since i was 4 and my dad sat me on his shoulders, im not ready to give up on them...i just want my support my team, not winge and moan all the time!
ANYONE COMING UP WITH ANY PLAN TO SAVE THIS CLUB I AM GRATEFUL TO INCLUDING MR. JACKSON. THE STUPIDITY OF PEOPLE CUTTING THEIR NOSES OFF TO SPITE THEIR FACE WILL SEE US WITHOUT ANY BACKERS AT THIS RATE. I HAVE SUPPORTED SAINTS SINCE 1965. I HAVE COME TO THE CONCLUSION THE TAG OF BEING THE MOST WINGING SUPPORTERS IN FOOTBALL IS WELL EARNT. THAT MORE THAN ANYTHING HAS MADE US THE LAUGHING STOCK OF FOOTBALL. SOME OF YOU NEED TO STOP THROWING YOUR TOYS OUT YOUR PRAMS AND GROW UP. YOU KNOW LITTLE OR NOTHING OF WHAT IS GOING ON BEHIND THE SCENES.LET THE REAL MEN TRY AND SAVE THE CLUB AND GO AND PLAY WITH YOUR DINKY TOYS. UNLESS YOU HAVE THE MONEY TO PUT WHERE YOUR MOUTHS ARE
openeyes
says...
7:38pm Thu 2 Jul 09
ben dover
says...
7:40pm Thu 2 Jul 09
Propercynic wrote:do you want cheap paper for your copier, try staples
If Jackson wants to save the club then I'm all for it. He seems more credible than that time-wasting joker Fialka.
jase
says...
8:08pm Thu 2 Jul 09
lodersvw
says...
11:01pm Thu 2 Jul 09
|
|
|
Enter your postcode, town or place name
Search for jobs with the Daily Echo
Search Now »
Find the right person for you with the Daily Echo
Search Now »
Search for homes with the Daily Echo
Search Now »
Search for cars with the Daily Echo
Search Now »
saintinsomerset says...
11:16am Thu 2 Jul 09