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Southampton shares suspended

nth_london_addick
nth_london_addick Posts: 35,919
edited April 2009 in Other Football and Sports
Company that owns southampton football club have had their shares suspended ahead of anouncement about its future,

why would that happen folks,

is it a takeover or worse for them
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Comments

  • eastbourne_addick
    eastbourne_addick Posts: 911
    saw this

    (dont believe april fools no point)
  • nth_london_addick
    nth_london_addick Posts: 35,919
    it is on Sky news and GMTV

    not an april fools i assure you
  • eastbourne_addick
    eastbourne_addick Posts: 911
    same

    however nothing on official website

    but charlton tickets slashed (saints end )

    deffenitely not april fools
  • Addickson's God
    Addickson's God Posts: 478
    Hasn't the deadline for points deduction this season passed?
  • WSS
    WSS Posts: 25,070
    [cite]Posted By: Addickson's God[/cite]Hasn't the deadline for points deduction this season passed?
    Nope, if they went into admin (the club) they would lose 10 points this season.

    Not that it would help us.
  • _MrDick
    _MrDick Posts: 13,103
    I think the parent company may go into admin but not the football club...Which will mean no points deduction for them next season.
  • BlackForestReds
    BlackForestReds Posts: 17,952
    [cite]Posted By: nth london addick[/cite]Company that owns southampton football club have had their shares suspended ahead of anouncement about its future,

    why would that happen folks,

    is it a takeover or worse for them

    A share suspension is generally for one of two reasons - either they are about to go into receivership/liquidation etc, or they are about to be taken over/folded into another company.
  • golfaddick
    golfaddick Posts: 33,624
    Article in todays Daily Mail.

    1) its the holding company (Southampton Leisure) that it in trouble & not the football club - points deduction wont happen

    2) passed the deadline for this season - any points deduction (see above) will happen next season.
  • Henry Irving
    Henry Irving Posts: 85,219
    The deadline means that any deduction can be either this season or next depending on their finishing position
  • McLovin
    McLovin Posts: 2,307
    A debt free Southampton even with a 10 point penalty, would be a very big fish in League One
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  • jimmymelrose
    jimmymelrose Posts: 9,750
    [cite]Posted By: McLovin[/cite]A debt free Southampton even with a 10 point penalty, would be a very big fish in League One

    Bigger than us? Why?
  • BlackForestReds
    BlackForestReds Posts: 17,952
    edited April 2009
    Big stadium, decent fan base, a good stream of young players who've come through against a lot of northern/midland teams with much smaller fan bases and smaller stadia etc. At any rate a debt free Saints without financial problems hovering over them would be a much bigger fish than a cash-strapped Saints with financial problems.

    As they are likely to be joining us in League One next year I don't want them to go into administration and then emerge with few debts to hold them back next year. I want them to continue having financial problems as that will hold them back.
  • LargeAddick
    LargeAddick Posts: 32,559
    imo we don't want Saints, Forest or Narwich to come down with us. It would make it much harder to bounce back first time. We need Blackpool, Plymouth, Barnsley to drop with us.
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    Think Southampton might go into freefall if relegated but then so could we !
  • MIDLANDS ADDICK
    MIDLANDS ADDICK Posts: 167
    Parent company just gone into admin.
  • adamtheaddick
    adamtheaddick Posts: 8,664
    thye can always ground share with pompey....
  • Henry Irving
    Henry Irving Posts: 85,219
    From the Saints OS


    RNS Number : 0096Q
    Southampton Leisure Holdings PLC
    02 April 2009

    Southampton Leisure Holdings plc ("SLH" or "the Company")


    Appointment of Administrators

    The Board announces today that it has appointed Mark Fry and David Hudson of Begbies Traynor (South) LLP as joint administrators to the Company.


    Rupert Lowe, Andrew Cowen and Michael Wilde have resigned as directors of the Company with immediate effect.

    Southampton Football Club Limited, a subsidiary of the Company, is unaffected by these insolvency proceedings.

    For further information:

    Begbies Traynor (South) LLP

    Mark Fry

    Tel: 0207 398 3800


    Seymour Pierce Limited

    Paul Davies

    Tel: 0207 107 8000


    This will be interesting. Let's see how the Football League react. Took a very hard line with Leeds, Rotherham and Luton.

    Will they allow this holding co. dodge and will they deduct this season or next?
  • adamtheaddick
    adamtheaddick Posts: 8,664
    would rather them get done next season as they could be up there with us, 10 points does us no favours unless the others go down too, although if we could get above them would be a few more grand in the bank for final posistion and moral not being the bottom team.
  • Kap10
    Kap10 Posts: 15,563
    How can a subsidiary not be affected by the parent going not administration?
  • Plaaayer
    Plaaayer Posts: 8,997
    Said on SSN that any deduction wouldn't be till next season anyway. If they go down and then get a points deduction next season they'll be in big trouble.
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  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    Rupert Lowe has resigned from the holding company and from board of Southampton FC
  • WSS
    WSS Posts: 25,070
    [cite]Posted By: Plaaayer[/cite]Said on SSN that any deduction wouldn't be till next season anyway. If they go down and then get a points deduction next season they'll be in big trouble.
    "If Saints are unable to beat the drop they will start their League One campaign next season on minus-ten points.

    However, if they finish outside the drop zone, the ten points will be taken off after the final game of the season.

    And if that causes them to slip into the relegation zone, they would then go down."
  • kinveachyaddick
    kinveachyaddick Posts: 3,875
    So they would lose the 10 points this season then?

    Which means effectively they are on 30 points and just one ahead of us?

    Big game on Saturday!!
  • Henry Irving
    Henry Irving Posts: 85,219
    [cite]Posted By: kinveachyaddick[/cite]So they would lose the 10 points this season then?

    Which means effectively they are on 30 points and just one ahead of us?

    Big game on Saturday!!

    Maybe.

    They only lose the 10 points this season if they finish outside the bottom 3.

    Might be better for us if they finish in the bottom three and lose the 10 points next season.

    Means we'd only have to finish above three teams next term to stay up then.
    (Thought I'd say it before someone else did : - )
  • BigRedEvil
    BigRedEvil Posts: 11,070
    If they don't get a points deduction and they stay up and say Barnsley go down in their place, that won't be fair would it?
  • Covered End
    Covered End Posts: 51,989
    [cite]Posted By: BigRedEvil[/cite]If they don't get a points deduction and they stay up and say Barnsley go down in their place, that won't be fair would it?

    They are down, because even if they stay up they will go down (because they will have 10 points deducted) :-)
  • Henry Irving
    Henry Irving Posts: 85,219
    [cite]Posted By: Covered End[/cite]
    [cite]Posted By: BigRedEvil[/cite]If they don't get a points deduction and they stay up and say Barnsley go down in their place, that won't be fair would it?

    They are down, because even if they stay up they will go down (because they will have 10 points deducted) :-)

    what CE said

    IF the league don't allow them to get away with this holding company dodge
  • LargeAddick
    LargeAddick Posts: 32,559
    [cite]Posted By: Henry Irving[/cite]
    [cite]Posted By: Covered End[/cite]
    [cite]Posted By: BigRedEvil[/cite]If they don't get a points deduction and they stay up and say Barnsley go down in their place, that won't be fair would it?

    They are down, because even if they stay up they will go down (because they will have 10 points deducted) :-)

    what CE said

    IFthe league don't allow them to get away with this holding company dodge

    is it a dodge though ? What if our PLC went into Admin that isn't the Club itself is it ?
  • Henry Irving
    Henry Irving Posts: 85,219
    edited April 2009
    Not sure about Southampton Holdings but what is our PLC other than the football? It doesn't own a whole range of different companies and I doubt Southampton does either.

    Thing is if they let Southampton get away with it every club will just spend £80 to set up a holding company to dodge the points deduction.
  • LargeAddick
    LargeAddick Posts: 32,559
    edited April 2009
    I thought their holding co was set up to purchase the ground and as such it is owned by them, just as our training ground will be owned by a director. I don't possess enough info on this to judge either way but it ain't gonna affect us anyway. I'm sure they would have taken substantive legal action before going down this route.

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