Saints' shares suspended by stock exchange (From Daily Echo)
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Southampton Leisure Holdings has shares suspended by stock exchange
5:40pm Wednesday 1st April 2009 in Saints News
SOUTHAMPTON Football Club's parent company is expected to be placed into administration within the next 24 hours.
This morning, shares in Southampton Leisure Holdings PLC were suspended by the stock market.
The company has been struggling with debts and, barring any last minute reprieve, the march towards administration could begin today.
This morning is was confirmed that the club's shares have been suspended because it could not publish its half yearly accounts.
This is usually the precursor to administrators taking over the running of the club, selling assets and negotiating with creditors to try and clear the debt.
However, in a further twist, if Southampton Leisure Holdings PLC is placed into administration but Southampton Football Club is not, then the team – currently battling against relegation from the Championship – may not be docked ten points by the Football League.
When the Daily Echo contacted the club last night they said they were unable to comment.
Saints fan and Southampton Itchen MP, John Denham, voiced his concern at the developments.
Mr Denham said "I am concerned that shares in Southampton Leisure Holdings plc have been suspended this morning. I have been in close touch with the football club over the last few weeks. I hope finance can be found to give the club a chance to avoid relegation."
Comments(69)
offix
says...
7:13am Wed 1 Apr 09
mastershot100
says...
7:36am Wed 1 Apr 09
soton3009 wrote:You will have to learn to support Eastleigh FC.
come on then guys...what does this mean?
loweout
says...
7:38am Wed 1 Apr 09
I dont know if this is a good thing or not?
McFanbeater's back!
Use the web to vent your anger at the man whose face looks like the dogs dinner!
http://www.punchacel
eb.com/#Rupert%20Low
e%20-%20986k
Ozmosis
says...
7:50am Wed 1 Apr 09
St.Yorkie
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7:53am Wed 1 Apr 09
Well there you have it - relegation plus -10 points next year.
Unibond here we come - never mind SMS we'll soon be playing on The Common!
normsted
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7:56am Wed 1 Apr 09
St.Yorkie
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7:59am Wed 1 Apr 09
Robster13
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8:02am Wed 1 Apr 09
Solent Saint
says...
8:04am Wed 1 Apr 09
St.Yorkie wrote:Looking on the bright side St Yorkie, You UTS Invidia and many more can now achieve both your ambitions and control the club. The share price/administration cost is well within your joint means. I look forward to taking up your new Season Ticket offer and being part of the great Saints revival under your coterie. God bless you all.
Well something to cheer me up at last - the end of Lowe! Seemed strange to me no big cash injection from an early deal for the Season Ticket holders - who after all are the truest fans! Well there you have it - relegation plus -10 points next year. Unibond here we come - never mind SMS we'll soon be playing on The Common!
Charlie George's Lawnmower
says...
8:14am Wed 1 Apr 09
I expect Lowe will do his usual trick now of letting fans and the media stew on today's news for a day or two and we won't get an idea of what's really going on until after Saturday's match.
Also, I would not put is past Lowe to be on holiday again right now !!
mastershot100
says...
8:21am Wed 1 Apr 09
Charlie George's Lawnmower
says...
8:25am Wed 1 Apr 09
If fans have learnt anything by now, it should be that we can't trust Rupert Lowe one bit.
St.Yorkie
says...
8:29am Wed 1 Apr 09
If anyone wants in to buy the club and run it as a cooperative - I might consider a small investment...but the players and staff have to buy in too!
Graham H
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8:48am Wed 1 Apr 09
Tobeblunt
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8:58am Wed 1 Apr 09
greystonesben
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8:58am Wed 1 Apr 09
Glen Wiffen
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8:59am Wed 1 Apr 09
Peter Strait
says...
9:00am Wed 1 Apr 09
You reap what you sow.
Whatever happens all season ticket holders, members and general supporters need to make it clear to the administrators that they will part with no cash for the coming season if Lowe, Wilde and Askham are any way involved in a future set up.
UTS
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9:01am Wed 1 Apr 09
someone who?
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9:03am Wed 1 Apr 09
Major Sir Jerry Pending
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9:06am Wed 1 Apr 09
Northern Saint
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9:10am Wed 1 Apr 09
I am absolutely no fan of Lowe or Wilde or, really for that matter, Crouch as they are all in different ways responsible. We have gone from a financially stable club (and yes guys, this was while Lowe was in charge) to a basket case but from what I can see the current issue stemmed from a period about three years ago which steadily got worse for the next two years before action was taken. The strategy was to spend to try and get back into top flight - not sure this was the right thing to do but this is with the benefit of hindsight and I'm sure we all wanted to see us back in the Premier League rather than sat comfortably in the CCC. Problem is that administration was on the cards from the start of the season and (I'll say it again that I am not a Lowe fan) I can only think of two Lowe could have done differently: 1, Endear himself to the fans more in the hope of getting gate numbers up (he does come across as an arrogant so and so); 2, finding a buyer. On the first point, he clearly made a mistake in his choice of manager and perhaps Wotte would have been a better first choice. On the second point, i think people are kidding themselves if they think Lowe has been beating buyers off with a stick. This is partly due to the club's financial state (would you buy a club that immediately needs a load of cash just to keep it running let alone improving?) but more to do with general climate.... the run of English clubs being bought has dried up over the last 12 months except for anomolies like Man City. This is because people can't raise cash on the markets like they used to.
So, the way forward? Administration looks likely, League 1 also likely with a 10 point deduction as we won't get away with simply dissolving the parent company, SMS will likely be retained and be leased back to Saints, I hope the manager stays as I think he does alright (maybe even better than Pearson in terms of results?), and of the teams I'm not sure - that will come down to wages as contracts will need renegotiating plus the creditors will want to cash in the good ones.
I'm not becoming a Pompey fan yet!!
Long live Saints!!
COYR!!
Graham H
says...
9:18am Wed 1 Apr 09
greystonesben wrote:this is a valid point to raise, but the administrators have to sell to the best potential buyers - doesn't this open it up for people like crouch too, not to mention the saints trust?
If anyone thinks this will get rid of the leaches they are sadly mistaken. Lowe, Wilde et al will still be around, administration just means they will be able to pick up more of the club (if not all of it) on the cheap.
the real mr x
says...
9:21am Wed 1 Apr 09
someone who? wrote:Well said brother.
You've got people on here saying your have to learn to start support Eastliegh FC or another football club, where is everyones loyalty in this situation? Just because we're going through rough times this isn't going to change my mind about the team I support, I'm a turn red and white fan through and through no matter what, leauge 2, leauge 1, championship or premiership no matter where we are I'll still wear my saints shirt with my head held high for I am a red and white soldier!!! COME ON YOU RED AND WHITES!
if this is an april fool, someone at the echo needs a good kicking.
Saints since '57
says...
9:27am Wed 1 Apr 09
If anyone thinks anything good will come from todays news then lets see if at the beginning of next season in Div 1 with a 'no-one' team you feel the same! The worst scenerio could be that that Lowe/Wilde & friends buy the club from the administrators and end up owning the lot.
Southampton FC RIP!
Saintbob
says...
9:35am Wed 1 Apr 09
Charlie George's Lawnmower
says...
9:36am Wed 1 Apr 09
Swing Rupert Lowe
Hang him from the Itchen Bridge
Fides
says...
9:45am Wed 1 Apr 09
The bright spot appears to be that because of an almighty hole left by the incompetent Football League we may escape a points deduction.
The gloomy spot, of course, is that this is likely to secure the place of the next god-awful combination to emerge from the Lowe, Crouch, Wilde Axis.
The administrator (if that's where we're heading because even that isn't clear yet) has little duty of care to shareholders (like me) or creditors, or staff. And no duty of care at all to supporters, fans, true supporters, stay away fans, teenage mutant protesters, or tw@ts like St Y and UTS. The administrator will just want to get the company of his or her books and trading again as soon as possible. Which will probably be about five seconds after it goes into administration when Lowe and the others put a single used fiver on the desk.
And then what. Well even that cloud may have a silver lining. A club unencumbered by debt and with no points deduction - whichever league - suddenly looks like a more attractive bet for inward investment.
Whatever happens, it won't stop me supporting my home team day in day out.
Let's hope for a full house and three points on Saturday.
Cmon you Reds.
owen_thesaints
says...
9:49am Wed 1 Apr 09
Saintbob wrote:Then check the Times and Sky Sports websites and find the jokes on you
Look at the Date people. Its clear this is just a joke.
Linesman
says...
9:50am Wed 1 Apr 09
Fred_In_Brizzle
says...
10:02am Wed 1 Apr 09
If some here read the article, they would also notice that its the HOLDING company going in Administration - so as long as the CLUB doesn't go the same way then we won't get docked any points.
lionheart
says...
10:05am Wed 1 Apr 09
Fred_In_Brizzle
says...
10:07am Wed 1 Apr 09
Louise86
says...
10:11am Wed 1 Apr 09
goard
says...
10:16am Wed 1 Apr 09
goard
Saint
says...
10:21am Wed 1 Apr 09
greystonesben wrote:Lowe is tech. chairman of leisure Holding Company.
If anyone thinks this will get rid of the leaches they are sadly mistaken. Lowe, Wilde et al will still be around, administration just means they will be able to pick up more of the club (if not all of it) on the cheap.
Solent Saint
says...
10:30am Wed 1 Apr 09
Fides wrote:True words my friend. If only your common sense prevailed. COYR and see you Saturday.
We it looks like St Y and UTS et al are getting what they wanted. The bright spot appears to be that because of an almighty hole left by the incompetent Football League we may escape a points deduction. The gloomy spot, of course, is that this is likely to secure the place of the next god-awful combination to emerge from the Lowe, Crouch, Wilde Axis. The administrator (if that's where we're heading because even that isn't clear yet) has little duty of care to shareholders (like me) or creditors, or staff. And no duty of care at all to supporters, fans, true supporters, stay away fans, teenage mutant protesters, or tw@ts like St Y and UTS. The administrator will just want to get the company of his or her books and trading again as soon as possible. Which will probably be about five seconds after it goes into administration when Lowe and the others put a single used fiver on the desk. And then what. Well even that cloud may have a silver lining. A club unencumbered by debt and with no points deduction - whichever league - suddenly looks like a more attractive bet for inward investment. Whatever happens, it won't stop me supporting my home team day in day out. Let's hope for a full house and three points on Saturday. Cmon you Reds.
midcheshire saint
says...
10:47am Wed 1 Apr 09
midcheshire saint
says...
10:50am Wed 1 Apr 09
SFC4EVA
says...
10:56am Wed 1 Apr 09
Echo, do some work and investigate to give people a bit of news! PleasE!
Security word
walk-rest lol
Dazzz
says...
11:25am Wed 1 Apr 09
Help The Saints
says...
12:13pm Wed 1 Apr 09
Louise86
says...
12:13pm Wed 1 Apr 09
saintsno1fan
says...
12:35pm Wed 1 Apr 09
When Saint's were made a plc company I knew from day one that it was not a good decision for the long term future of the football club? I'm not here to say I told you so! but for five plus years this club has had boardroom shanigans that have ultimately dragged the name of Southampton Football Club through the mill, whilst I have not attended this seasons games because of the return of Rupert Lowe I have maintained my loyal support as ever following the clubs games on radio and willing them to win every game as I have alway's done. Whilst the news that the plc company has entered administration does this mean the club can finally, after a very long and painful battle begin a fresh start which should have been made long time ago, and does this also mean that Rupert Lowe will now leave the club altogether and let somebody else have a go {lets be honest nobody can do any worse!} It's a shame it has come to this but I suppose somthing had to happen the club could not continue to be run the way it has and continue to drive thousends of supporters away and lose ther money and survive?
1adi
says...
12:55pm Wed 1 Apr 09
just look at their website for proof
security word sell-club
Tevez888
says...
1:00pm Wed 1 Apr 09
http://www.facebook.
com/group.php?gid=60
500087526
Dave_50
says...
1:01pm Wed 1 Apr 09
Football League rules state that clubs in financial trouble that go into administration will be deducted 10 points as happened to League Two Darlington last month.
"But clubs who go into administration after today's (26 March 2009) 1700 GMT deadline face having their 10-point deduction suspended.
If the club is relegated the points will be deducted from their tally at the start of next season but if the club stays up the 10 points will be taken off their final total.
The club would then go down if the 10-point deduction subsequently resulted in it slipping into a relegation place."
Good luck!
Bring Back The Dell
says...
1:19pm Wed 1 Apr 09
Lets all just get down to SMS on Saturday and get behind the team and make sure we are still playing Championship football next season, if we still exist !
NewForestStu
says...
1:49pm Wed 1 Apr 09
By the way, wonder how those 'North London Yobbos' are getting on these days?
George4th
says...
2:49pm Wed 1 Apr 09
Blame the people in charge during that period.
St.Yorkie
says...
3:00pm Wed 1 Apr 09
You can blame whoever you want for this mess...bigger gates would have just prolonged the agony.
We have only ourselves to blame as we care about a football club that is no longer part of a PLC?
Live within your means is what I have been told - but it looks like those with their noses in the trough have clearly not been!
Reality-man
says...
3:00pm Wed 1 Apr 09
Family Man
says...
3:25pm Wed 1 Apr 09
10:56am Wed 1 Apr 09
So if the PCL go in the Admin surely the Club will be sold off as an assest as the PLC is ultimately responsible for the debt?!
Echo, do some work and investigate to give people a bit of news! PleasE!"
Suely it is only an "asset" if is not so encumbered with debt that it is a net liability. I have not seen the accounts, but presumably the cost of the stadium is at least in part an outstanding debt, and possibly greater than the remaining assets.
The only silver lining I can see is that, with additional investment, Southampton could inherit a decnt concert venue... but it will no doubt fall as yet another victim to the "credit crunch".
tricky19791
says...
5:59pm Wed 1 Apr 09
chrissie 2968
says...
6:51pm Wed 1 Apr 09
OwenTheSaint
says...
7:12pm Wed 1 Apr 09
George4th wrote:Firstly, who's fault was it that we found ourselves outside of the Premier League? And second, if the damage was done during the period he was absent from the club why did Rupert return last year? As a major shareholder he would have known the exact state the club was in before he returned so why, if things were so bad, didn't he just cut his loses and sell his shares for the 30p he could have got at this time? A good businessman knows when to exit. He returned because he thought the club was in a viable enough position for him to take it forward and increase the share valuation so subsequently his own holding? Obviously things have not gone to plan for Rupert in the last year, but I guess like relegation from the Premier League and everything else, in some people's eye's, he's not to blame!
The problems occurred between Lowe leaving and Lowe returning - that's when the real financial damage was done - trying to buy our way back into the Premiership - Big Gamble that Failed!! Blame the people in charge during that period.
ruddy
says...
7:15pm Wed 1 Apr 09
Prairie Dog
says...
7:30pm Wed 1 Apr 09
LOL
ex so'ton
says...
7:37pm Wed 1 Apr 09
Denzil'
says...
7:41pm Wed 1 Apr 09
Prairie Dog wrote:You'll be more f*cked than us when you go down pal.
time to change from the red and white Saints shirt to the blue of Pompey... don't forget to practice singing.... "Play up Pompey.... Pompey play up...." LOL
Prairie Dog
says...
8:39pm Wed 1 Apr 09
stjamie
says...
8:49pm Wed 1 Apr 09
Prairie Dog wrote:C U Next Tuesday, prairie mongrel!
I'm not a Portsmouth or Southampton fan, thank you very much.... what with over paid players (all teams) this was bound to happen
jaspm7
says...
8:49pm Wed 1 Apr 09
Prairie Dog
says...
9:28pm Wed 1 Apr 09
stjamie wrote:why?? are you buying me tickets to see the Watford game...
Prairie Dog wrote: I'm not a Portsmouth or Southampton fan, thank you very much.... what with over paid players (all teams) this was bound to happenC U Next Tuesday, prairie mongrel!
St Jamie... so sad...
soton3009
says...
11:06pm Wed 1 Apr 09
iness.timesonline.co
.uk/tol/business/ind
ustry_sectors/bankin
g_and_finance/articl
e6018444.ece
seagullsaint
says...
11:43pm Wed 1 Apr 09
2) Holding companies are a clever way of directors avoiding responsibilities (will expand if anybody asks !)
IanRRR
says...
1:56am Thu 2 Apr 09
We await the rescue package, led by you know who, as the only bidder. This plot is thinner than Coronation Street, and even less inspiring!
hackneycarriage
says...
8:32am Thu 2 Apr 09
SOUTHAMPTON FC ARE NOLONGER WHAT PEOPLE WANT ANYMORE MOST WOULD RATHER HAVE A ICE RINK INSTEAD
click2find
soton3009 says...
7:11am Wed 1 Apr 09