Ricky Lambert to saints

[BensGrandad]

The new owner of Southampton has nothing whatsoever to do with their previous debts and like any other company he bought them from the receivers, with the debts at an agreed level, as a good business venture. I believe that even with the 10 point deduction incurred by the previous regime with Pardew as manager I would make them my favourites to be promoted automatically.

This an example of shrewd managment by Pardew and sound business sense by the new chairman/board. As regards the FA they could not placea restriction o0n transfers etc as it would be a restraint of trade as the new owners would argue, quite rightly, that the old debts had nothing to0 do with them and they were being stopped from trading efficiently in the manner that they wish.

 

[Easy 10]

As regards the FA they could not placea restriction o0n transfers etc as it would be a restraint of trade as the new owners would argue, quite rightly, that the old debts had nothing to0 do with them and they were being stopped from trading efficiently in the manner that they wish.

So how come Palace were put under a transfer embargo ?

 

[Silent Bob]

Maybe one day. When they've finished chucking more money at players.

Who knows.

Well they exited administration without a further points deductions so they must have agreed a deal with their creditors, I find it hard to imagine that deal is "we'll sign Dan Harding and Ricky Lambert and you can go whistle".

 

[Icy Gull]

Not a suprise, it was obvious they'd never go bust and would be sold for a bargain. Newish stadium, recently in the Premier League made them a cert to be snapped up by someone with proper money. They have every chance of making at least the playoffs, decent manager (whatever some on here say), great coach and now plenty of wonga behind them.

At least we'll be above them for at least 3 more games

Maybe they'll buy Murray as well I'm sure he might change his mind about going North if the price was right.

 

[Easy 10]

Well they exited administration without a further points deductions so they must have agreed a deal with their creditors, I find it hard to imagine that deal is "we'll sign Dan Harding and Ricky Lambert and you can go whistle".

Well when the only alternative for creditors is not to accept the deal, and instead issue a winding up order against the club (which would ultimately mean that at best they'd just get a small proportion of their debt, x amount in the £ back), I suppose they're left with little choice but to swallow it.

And then the whole cycle will begin again, as Southampton chuck money around in transfer fees and wages until some way down the line it all goes tits up again.

 

[gruntage]

the majority of people i work with are Rovers fans. the area around me has gone silent, most are shocked (even though they knew he'd go) and are not hopeful for the season now, as i believe they have also sold their keeper to some turkish club?

in fact a work related email i just recieved had a subject which was definatly not work related : The Gas are going down!

it's finally nice to rip it out of the gas heads here as last season i took alot of abuse over our 'form'.

 

[BensGrandad]

So how come Palace were put under a transfer embargo ?

They didnt change ownership so the present owners Tango man etc are responsible for any debts that they have not a new company.

 

[Easy 10]

They didnt change ownership so the present owners Tango man etc are responsible for any debts that they have not a new company.

Sure, but I don't think 'restriction of trade' can be used by clubs to get out of a transfer embargo, whether its new owners coming in or not. If the FA / FL want to impose it on a club then its within their power to do so.

 

[Silent Bob]

Well when the only alternative for creditors is not to accept the deal, and instead issue a winding up order against the club (which would ultimately mean that at best they'd just get a small proportion of their debt, x amount in the £ back), I suppose they're left with little choice but to swallow it.

So how much was it?

 

[Couldn't Be Hyypia]

The new owners at Soton have inherited sizeable debts and vastly reduced revenue. Add the points deduction to the equation and that's penalty enough in my mind. The new owners have money. The previous didn't. It's the luck of the draw in many respects, so get over it and show some compassion. Soton survived, as did we, and I for one remember plenty of them at Fans Utd. Such short memories.....

Chill for a sec Portlock - if you look up the thread all I asked was have they got a benefactor - in all the comings and goings this Summer that had slipped my mind. Not slagging off Saints - all I did was ask where the money came from and note that it's a good buy.

The fact is they still have their debts, they haven't unloaded on anyone and are lucky enough to have a benefactor (as are we). That was the info I was asking for and have now gleaned.

 

[Easy 10]

So how much was it?

I'm not owed anything personally.

But at work I've dealt with plenty of letters from administrators who are dealing with businesses who have gone into administration owing us thousands of pounds. More often than not we end up writing the debt off, then some time down the line (sometimes years), we get another letter saying we will get so much in the £ (usually between 5p and 10p if we're lucky).

 

[Couldn't Be Hyypia]

So, to be clear, did Soton come to an arrangement with creditors or did the new owners take over the old company and agree something (Xp in the £) or have they not dumped debt at all? Sorry, it's not clear to me.

 

[BensGrandad]

I think we are all making assumptions based on what has been put out in the media as none of us really know the intricate details.

 

[Garry Nelson's Left Foot]

Personally I'm looking forward to visiting a great club

Yes, but we're talking about southampton...

*oldbutgold*

 

[Easy 10]

So, to be clear, did Soton come to an arrangement with creditors or did the new owners take over the old company and agree something (Xp in the £) or have they not dumped debt at all? Sorry, it's not clear to me.

The x number of pence in the £ only comes into play if the company ends up being liquidated and the assets sold off (which is where the proceeds come from to divide up amongst the creditors). The fact that Southampton are still trading means that the new owners have indeed struck up an agreement with all the creditors, probably to pay them off over a longer period of time.

Its pointless the creditors turning this down, as they know they'll do no better if they declined and applied to have the club wound up. The creditors know they're between a rock and a hard place. At least they're not having to write their debt off, but it'll remain on their balance sheets as Bad Debt and will have a direct impact on their profitability.

Not that that'll bother Southampton FC.

 

[Lady Whistledown]

Personally I'm looking forward to visiting a great club

If that's your expectation, I fear you're going to be sadly disappointed when you see their uninspiring, flat-pack stadium, located on the edge of a grim industrial wasteland without a decent pub in miles.

 

[Simster]

If that's your expectation, I fear you're going to be sadly disappointed when you see their uninspiring, flat-pack stadium, located on the edge of a grim industrial wasteland without a decent pub in miles.

except that St Marys is in the city centre and has several decent-ish pubs within walking distance. Certainly more than Withdean has, and Falmer will have.

 

[Lady Whistledown]

Really? My memory must be playing tricks on me, as all I can remember from our last visit is a bunch of grey warehouses and a hideous banjo-strumming pub.

I must have come in from the wrong direction

Still stand by the assertion that the stadium is uninspiring and bland though.

 

[Carrot Cruncher]

The ground is about 20 mind walk from yer actual city centre. However, this incorporates the Scumhampton equivalent of West St. There are some decent areas for drinking though, but I'm buggered if I'm mentioning them on this forum.

The area surrounding the ground is like some post-apocalypse nightmare.

 

[Easy 10]

I can remember walking for AGES to get from some shithole of a pub to the ground.
And yes, it IS in a shit area