|
MLT and Pinnacle have withdrawn their bid to buy Southampton football club. We understand this is due to issues they were unable to resolve with the Football League. Reading between the lines, it seems that while Pinnacle were willing to accept the 10 point penalty, the football league would not undertake to not impose even more penalty points as the club did not pay the wages this week. It could be a bargaining ploy, but looks more likely the group felt that despite having spent near on £1m to keep the club going so far, they could not accept the possibility of even more points and end up looking at a further relegation next season. Time will tell, if this is correct......but how the football league think it’s better to impose further penalty points on a club, so that people will lose their jobs altogether is beyond me. |
|
After the deadline passed late last night , it appeared the exclusivity deal had hit a "few minor issues". In what was described as "minor", was the issue of the 10 point deduction by the Football League. The consortium have questioned its legality, and as this has a profound effect on a deal going through for its investors the issue has been raised once again.
As a result the Football League, will hold an emergency meeting on Monday afternoon, as the group are seeking assurances of the football clubs future in League 1 and the status of administration.
Notwithstanding that, it appears providing assurances are given to the football clubs future, Matt Le Tissier will be made Chairman, along with Leon Crouch securing a place on the board alongside the Pinnacle directors, and more importantly the mystery investor will be named..
We await with bated breath. |
|
|
 Saints first home game will be at home to Millwall the play off finalists last season. Boxing Day is at home to Exeter City with the last (hopefully not a crunch game) at home to Southend Utd.
|
|
Read more...
|
|
|
THE man negotiating the Pinnacle deal to takeover Saints has today written an open letter to all Saints fans. Dear All, I have been contacted by a large number of people given our entering into an exclusivity period for the purchase of Southampton Leisure Holdings (which to the man on the street and pretty much all supporters relates the Club itself). |
|
Read more...
|
|
|
