Vital Football

Latest Southampton FC News

Saints in desperate need of a buyer

Saints in desperate need of a buyer

Administrators have warned that there is a real danger that there will be no Southampton FC by the end of the season, unless a buyer can be found before then.

Southampton Leisure Holdings PLC, parent company of the Championship strugglers, have been placed into administration with debts rumoured to be in the region of £30million.

Restructuring specialists Begbies Traynor have been placed in charge after chairman Rupert Lowe, club chairman Michael Wilde and director Andrew Cowen resigned.

Speaking at a St Mary's press conference, joint-administrator Mark Fry admitted that the Saints are in desperate need of new investment if the club are to survive.

"If we don't find a buyer for the club there is a very, very high probability that it will not last until the end of the season. Realistically it will mean the end of the football club," said Fry.

"It's a very different economic climate from two years ago and football clubs have fallen as hard as anything. It's a difficult task, but we will search very hard for a buyer.

"And I would say that anyone looking to buy the club will find it a lot cheaper than it would have been two years ago."

Controversial former chairman Lowe is, according to Fry, unlikely to be among any potential buyers.

"We would welcome an approach from anybody, but as far as I am informed Rupert Lowe has not shown an interest," he added.

"We are urging the fans to show up and support the team for the last three home games to help the cash-flow of the business and also demonstrate to potential investors the level of the fanbase."

By placing their parent company into administration, however, Saints appear to have at least avoided a 10-point deduction from the Football League.

The League will discuss the matter at a scheduled meeting on Tuesday, but as things stand they cannot apply the standard sanction because the club are not in administration.

"We are in dialogue with the Football League and we don't think the club should be affected," said Fry.

"We don't think the rules apply to this, but we will find out in due course."



For the very latest Championship odds

Free £15 bet when you spend £5 on The New Football Pools




Click here to join in the debate on the club forum.

Writer:Daniel Bailey
Date:Thursday April 2 2009
Time: 7:37PM

Comments

0
Desperate times - and I hope you come through them!
merlin
02/04/2009 20:46:00
0
Desperate times - and I hope you come through them!
merlin
02/04/2009 20:46:00
0
As a ManCity fan I'd just like to express my sympathy for what you are going through. We looked to be heading the same way under Dr Shinawatra until we were rescued at the last minute by ADUG. Sincerely hope you find a rescuer as well, it would be an absolute scandal for a club with Southhampton's history and support to go out of business.
fifthcolumnblue
03/04/2009 01:12:00
0
As a ManCity fan I'd just like to express my sympathy for what you are going through. We looked to be heading the same way under Dr Shinawatra until we were rescued at the last minute by ADUG. Sincerely hope you find a rescuer as well, it would be an absolute scandal for a club with Southhampton's history and support to go out of business.
fifthcolumnblue
03/04/2009 01:12:00
0
Same from Pompey too. Sort it out and let's get on with the local rivalry.
eastneydave
03/04/2009 20:18:00
0
Same from Pompey too. Sort it out and let's get on with the local rivalry.
eastneydave
03/04/2009 20:18:00
Page 1/1
  1. 1

Login to post a comment

Recent Southampton Articles

Premier League Confirm 2017/18 Fixture Release Date

The Premier League have now confirmed the date on which the fixtures for the campaign of 2017/18 will be released.

More Reliable Than An Octopus 2016/17? (21/3/17)

A new season, a new special computer crunching the numbers to determine the final Premier League positions for 2016/17.

JWP To Seize England Chance

Midfielder James Ward-Prowse has said he's determined to make the most of his maiden call up to the senior England side this month.

Chelsea Visit Arranged For Later In April

Southampton have now confirmed when we will make the trip to Stamford Bridge to face Chelsea in our postponed Premier League clash.

Archived Vital Saints Articles

Vital Saints articles from

Site Journalists

SFC Forever
no email
Profile
Vital Saint
Editor email
Profile
Matt Gardner
no email
Profile

Current Poll (see more polls)

Tottenham MotM
Suggested By:
Forster1%
Soares0%
Stephens9%
Romeu27%
Yoshida0%
Davis0%
Bertrand0%
Ward-Prowse45%
Tadic0%
Redmond0%
Gabbiadini9%
Sub-Long0%
Sub-Boufal9%
Sub-Rodriguez0%
ScoopDragon Premier League Network Sites

League Table

# Team P W D L Pts. GD
1 Chelsea 28 22 3 3 69 38
2 Spurs 28 17 8 3 59 34
3 Man City 28 17 6 5 57 24
4 Liverpool 29 16 8 5 56 25
5 Man Utd 27 14 10 3 52 19
6 Arsenal 27 15 5 7 50 22
7 Everton 29 14 8 7 50 21
8 WBA 29 12 7 10 43 1
9 Stoke 29 9 9 11 36 -9
10 Southampton 27 9 6 12 33 -3
11 AFC Bournemouth 29 9 6 14 33 -12
12 West Ham 29 9 6 14 33 -12
13 Burnley 29 9 5 15 32 -11
14 Watford 28 8 7 13 31 -15
15 Leicester City 28 8 6 14 30 -14
16 Crystal Palace 28 8 4 16 28 -10
17 Swansea 29 8 3 18 27 -27
18 Hull City 29 6 6 17 24 -32
19 Middlesbrough 28 4 10 14 22 -13
20 Sunderland 28 5 5 18 20 -26
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Southampton Results (view all)

Southampton Fixtures (view all)

Apr 1 2017 5:30PM : AFC Bournemouth (H)
Barclays Premier League
Apr 5 2017 7:45PM : Crystal Palace (H)
Barclays Premier League
Apr 8 2017 3:00PM : West Bromwich Albion (a)
Barclays Premier League
Apr 15 2017 5:30PM : Manchester City (H)
Barclays Premier League
Apr 25 2017 7:45PM : Chelsea (a)
Barclays Premier League
Apr 29 2017 3:00PM : Hull City (H)
Barclays Premier League

Vital Members League Table

RankNamePoints
1.Vital Saint1
2.Bob Knox1
The Vital Football Members League