Saints' parent company now in administration (From Daily Echo)

Saints' parent company now in administration

12:05pm Thursday 2nd April 2009 in

By Dan Kerins » Digital Editor

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SAINTS' parent company is now officially in administration.

The stock exchange released a statement confirming the appointment of the administrators Begbie Traynor at Southampton Leisure Holdings.

They also confirmed the resignations of Rupert Lowe, Michael Wilde and Andrew Cowen.

The full statement is below: The Board announces today that it has appointed Mark Fry and David Hudson of Begbies Traynor (South) LLP as joint administrators to the Company.

Rupert Lowe, Andrew Cowen and Michael Wilde have resigned as directors of the Company with immediate effect.

Southampton Football Club Limited, a subsidiary of the Company, is unaffected by these insolvency proceedings.

Comments(4)

Saintlygirl says...
2:59pm Thu 2 Apr 09

Great that Lowe and Wilde are out, but worrying times ahead. PLEASE someone with money buy our club. Or failing that, if every Saints fan paid £10.00 each, we could all own it. I so hope that 1. we don't go down, and 2. a fab buyer is found. COYR.

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Stoker says...
3:23pm Thu 2 Apr 09

"We could all own it."

Count me in.

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Stoker says...
3:58pm Thu 2 Apr 09

Having said that, the new owners will be taking on £24 million in mortgage arrears. The SMS would have to be converted post hoc to shared use - as it should have been originally. Whoever agreed to build a city centre stadium instead of staying at the (much-missed) Dell until a home was found for an easily-accessible mixed-use community stadium should be shot, imo.

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Ryan Mckinlay says...
4:04pm Thu 2 Apr 09

Saintlygirl wrote:
Great that Lowe and Wilde are out, but worrying times ahead. PLEASE someone with money buy our club. Or failing that, if every Saints fan paid £10.00 each, we could all own it. I so hope that 1. we don't go down, and 2. a fab buyer is found. COYR.

40 quid wont go far love!

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