Southampton are in BIG trouble.

[Mackenzie]

*News Flash*


Pinnacle pull out of Saints bid

Southampton have suffered a huge blow after prospective buyers Pinnacle pulled out of negotiations to buy the club.


Source:BBC SPORT | Football | My Club | S | Southampton | Pinnacle pull out of Saints bid

....more to follow

 

[Curious Orange]

Doubt it, the administrators were talking to other interested parties too.

 

[theonesmith]

Doubt it, the administrators were talking to other interested parties too.

Still in big trouble. The other parties were from South Africa and Asia I believe. The time it will take for them to take over is a worry enough. They don't have a manager and haven't structured their team- and the season starts in what, 5 weeks?

 

[Bevendean Hillbilly]

Oh dear, what a pity, never mind.

 

[Curious Orange]

There has just been another take on the story, and it had included this:

Administrator Mark Fry is now battling to tie up a deal with another buyer.

Southampton might not be in great shape to start the season, but I'm fairly confident they will. It all rather smells like the Pinnacle Group tried to call the FL's bluff over the 10 points... only to find that the FL had pocket Aces.

 

[theonesmith]

I'm sure they will start it. But as you say I don't think they will be in great shape. Would be hilarious if they dropped into league 2

 

[Worthai Seagull]

If they go out of business, can we borrow their ground for two years,please !

 

[scooter1]

If they go out of business, can we borrow their ground for two years,please !

Err why, its 50 f***ing miles away. Withdean might be shite, but at least it has a BN postcode

 

[theonesmith]

According to the Guardian, the Administrators are going to consider winding up the club on Friday.

 

[Icy Gull]

According to the Guardian, the Administrators are going to consider winding up the club on Friday.

Expect a last ditch takeover

 

[Uncle C]

Makes you appreciate how well Dick Knight ran our club over the years.

 

[theonesmith]

Expect a last ditch takeover

Whats the League enforced cut off date? How long do takeovers usually take to go through?

 

[Worthai Seagull]

Err why, its 50 f***ing miles away. Withdean might be shite, but at least it has a BN postcode

Its a joke,twat .

 

[Worthai Seagull]

Makes you appreciate how well Dick Knight ran our club over the years.

AND, how very lucky we are to have the new chairman basically bankrolling the club out of his own pockets . Without him, im pretty sure we would have been slipping into big trouble as well !

 

[Jim D]

...It all rather smells like the Pinnacle Group tried to call the FL's bluff over the 10 points... only to find that the FL had pocket Aces.

It sounds to me that they had decided not to proceed and were using the 10 points as a reason. The FLs position had been firm all along, and they had history with Luton, Leeds, Bournemouth, etc. They had no reason whatsoever to believe they could succeed where the others hadn't. It's possible that they found something they didn't like during their 'due diligence' period.

 

[The Ringleader]

According to the Guardian, the Administrators are going to consider winding up the club on Friday.

Won't happen, sorry but it really wont

 

[Normal Rob]

my southamption supporting mate thinks that they are gone (ok - he is a bit of a pessimist). However he has vowed to start supporting us instead. It's all money...

 

[Easy 10]

Presumably they won't be allowed to start the season if new owners are not in place by then ? The FL will be requiring a bond from the owners that the club can fulfil its fixtures, so if a prospective buyer can't seal the deal in the next month and a bit, then it really could be bye-bye Saints.

 

[ATFC Seagull]

Supposedly it was always a 2-horse race between Pinnacle and a Swiss group, so all hope not lost yet?

Jokes aside, I cannot believe there are some so-called Albion fans on here revelling in this situation.

 

[Tony Meolas Loan Spell]

Cant they do a leeds and be wound up (or equivalent) only to come back as Southampton 2525 or something that just happen to play at St Marys and wear Red & White and have virtually the same staff etc? But take the points deduction on the chin?

Or do what Leeds did and have a protracted legal case about the deduction.