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http://www.guardian.co.uk/football/2009/apr/27/southampton-future-threat-buyer
Southampton will fold in eight days without a buyer
Southampton will go out of business in eight days unless they find a buyer, according to a source at St Mary's. The Championship club, whose holding company went into administration last month, were relegated to League One on Saturday, the first time since 1960 they will have been in the third tier. The players are understood to have been paid last week thanks only to £130,000 raised by fans under a Save Our Saints appeal.
Southampton will play their final game of the season at Nottingham Forest on Sunday but the source says they will be forced to fold two days later unless one of the consortiums which have expressed interest in the club completes a deal. Two buyers are said to be keen.
Adding to Saints' worries is the pitch invasion at the end of Saturday's 2–2 draw at home to Burnley, which saw home supporters throw objects at the visiting fans and exposes the club to a possible fine from the Football Association. "I just hope they don't punish us for that as well because the club has to find a buyer and any further threat of punishment will not help us to do that," said Mark Fry, the joint administrator.
Southampton already face the prospect of starting next season with a 10-point penalty. That was imposed last Thursday by the Football League, which ruled that the holding company, Southampton Leisure Holdings plc, the stadium company and the football club were "inextricably linked as one economic entity".
The penalty was such that, if they pulled out of the relegation places, it would apply this season and so take them down; or, if they did not escape by their own means, it would apply next season. The draw with Burnley condemned them to relegation regardless. "I am not condoning the invasion," said Fry, "but after the announcement on Thursday emotions were bound to be running high."
Southampton will appeal against the 10-point punishment. "Our main concern has to be the appeal," said Fry. Lawrie McMenemy, the club's FA Cup-winning manager in 1976, appealed to fans before Saturday's match, for further rescue funds. It looks a case of now or never.
Southampton will fold in eight days without a buyer
Southampton will go out of business in eight days unless they find a buyer, according to a source at St Mary's. The Championship club, whose holding company went into administration last month, were relegated to League One on Saturday, the first time since 1960 they will have been in the third tier. The players are understood to have been paid last week thanks only to £130,000 raised by fans under a Save Our Saints appeal.
Southampton will play their final game of the season at Nottingham Forest on Sunday but the source says they will be forced to fold two days later unless one of the consortiums which have expressed interest in the club completes a deal. Two buyers are said to be keen.
Adding to Saints' worries is the pitch invasion at the end of Saturday's 2–2 draw at home to Burnley, which saw home supporters throw objects at the visiting fans and exposes the club to a possible fine from the Football Association. "I just hope they don't punish us for that as well because the club has to find a buyer and any further threat of punishment will not help us to do that," said Mark Fry, the joint administrator.
Southampton already face the prospect of starting next season with a 10-point penalty. That was imposed last Thursday by the Football League, which ruled that the holding company, Southampton Leisure Holdings plc, the stadium company and the football club were "inextricably linked as one economic entity".
The penalty was such that, if they pulled out of the relegation places, it would apply this season and so take them down; or, if they did not escape by their own means, it would apply next season. The draw with Burnley condemned them to relegation regardless. "I am not condoning the invasion," said Fry, "but after the announcement on Thursday emotions were bound to be running high."
Southampton will appeal against the 10-point punishment. "Our main concern has to be the appeal," said Fry. Lawrie McMenemy, the club's FA Cup-winning manager in 1976, appealed to fans before Saturday's match, for further rescue funds. It looks a case of now or never.
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