inquiries AN incredible 19 different approaches were made to administrators of Saints’ parent firm about buying the company, the Daily Echo can reveal.
At least two are known to be from serious potential buyers, leading administrators to be optimistic about securing the club’s future.
None of the possible buyers has been identified, but a huge range of local businessmen and figures connected with Saints have been tipped as possible purchasers.
If a buyer is not found within the month, the club could be shut down.
Since the Daily Echo broke the story on Wednesday, administrators called in to tackle a £30m debt mountain have had a lengthy queue of interested inquiries from well-heeled fans.
The club could also now appeal to football investors. Creditors such as Norwich Union, which is owed £24m on the loan on the ground, are understood to be keen to cut their losses, meaning St Mary’s might be available for a fraction of the debt. It means a new owner could have a debt free club complete with a Premiership standard ground for a sum dwarfed by the £50m valuation attached to Saints just a couple of seasons ago.
Administrator Mark Fry said: “There have been 19 inquiries now but to say how many of them are serious is difficult. But at least two are serious, so that’s encouraging and there may be more than two. It’s difficult to be sure at this stage.”
One approach that is a matter of public record was before the administration had even officially begun. Former chairman Rupert Lowe was at St Mary’s on Thursday as an 11th hour deal to buy the club and keep it out of administration was being brokered on Wednesday. In the end the people concerned could not provide proof of funds in time and administration was officially confirmed
Don't miss the special "Save Our Saints" poster which comes with every copy of the Daily Echo bought outside St. Mary's Stadium today.
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