| Archive for everythingleeds.myfastforum.org |
| NE1 |
Admin for Southampton?http://news.bbc.co.uk/sport1/hi/f...l/teams/s/southampton/7976473.stmIts seems the money men will always try to find a way around things! It seems that by putting the parent company into admin and not the club they hope to get around the points deduction! See its not just Leeds who try to bend the rules   
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| raveydavey |
Ban them for life! |
| NE1 |
so what will the FA/FL do now?
http://news.bbc.co.uk/sport1/hi/f...l/teams/s/southampton/7976473.stm Do they have a team of legal experts at all? Yet another loophole found - the saints transfer their debt to the parent company and then claim as its the parent company going into admin the points are not deductable
The powers that be have got to sort this out. Points deduction does not help can they not see that. Look at Luton - they are about to go out of the league. Its was just too much to carry in one season. I don't have another solution to deducting points, I'm not a business person, but there has to be another solution. |
| raveydavey |
10 points deducted, meaning they are definately relegated from the CCC:
http://www.timesonline.co.uk/tol/...ootball_league/article6155153.ece Southampton are to appeal against a Football League decision to impose a ten-point deduction which would effectively relegate the club to Coca-Cola League One. Southampton Leisure Holdings, the football club's parent company, called in the administrators on April 2, but claimed that the club was a separate entity and should not therefore suffer the League's automatic ten-point penalty for entering administration. But after studying a report by independent forensic accountants, the League decided that the club and parent company "are inextricably linked as one economic entity" and imposed the points deduction. The 10-point penalty will come into force this season if the team, presently four points from safety with two matches to play, manages to escape the bottom three - sending them down after all - or at the beginning of next season if, as seems likely, they are relegated. However, the club are likely to exercise their right to appeal within seven days after the administrators claimed in a statement on the club website that the League had reached an incorrect conclusion. "The football regulations do not apply to the circumstances surrounding Southampton Football Club," it read. "This is a view shared by lawyers and advisors to both the club and the "Both the Club and the Administrators are now considering their positions and expect to launch an appeal." The League and the other clubs in and around the Championshp drop zone will hope that Southampton finish 22nd or lower in order to avoid a summer of uncertainty while appeals are heard and considered. But even a successful appeal would not be the end of the club's worries. Fans have raised £120,000 through a “Save Our Saints” appeal which will keep the club going until the end of the season. Mark Fry of Begbies Traynor, the joint administrator, reported last week that "over 30" parties had expressed an interest in taking over, but only two are prodeeding to due diligence, and a club in League One is a far less attractive proposition than a Championship side. The company went into administration with debts exceeding £24 million, most of which was owed to Norwich Union for the contruction of the 30,000-seat St Mary's Stadium, which replaced The Dell in 2001. Rupert Lowe, the executive chairman, and two other directors resigned, The Times understands, because the administrators and Barclays, with which the club had exceeded its £4 million overdraft limit, believed that it would be easier to find a buyer with the board out of the picture. Southampton, who enjoyed 27 successive seasons in the top flight between 1978 and 2005 and were founded members of the FA Premier League, last played in the third tier of English football in 1960. Since suffering relegation, the club has sold players worth a total of over £20 million, including products of its academy including Theo Walcott, the England winger now with Arsenal, Gareth Bale, the Wales defender now with Tottenham Hotsupr, and Kenwyne Jones, the Trinidad & Tobago forward who now plays for Sunderland. Previous League clubs to suffer points deductions for entering adminstartion and other breaches of league finance rules include Leeds United, Rotherham United, AFC Bournemouth and Luton Town. Luton will play in the Blue Square Premier Division next season after beginning this season in League Two on minus 30 points. The Football League statement said: "At its meeting today, the Board of The Football League reviewed the report of the independent forensic accountants commissioned by The League to examine the circumstances at Southampton Football Club, together with external legal advice as to the interpretation of The League’s regulations. "The report, by Grant Thornton, set out in detail the various inter-relationships between the four different group companies at Southampton Leisure Holdings Plc (the Holding Company "The conclusions were based both on the content of the annual accounts published by the Holding Company, which include the Club, and other information made available to Grant Thornton as part of their enquiries. "The Board noted that Grant Thornton reported that toward the end of their enquiries co-operation with them was withdrawn. "The report concluded, among other things, that: 1. The Holding Company has no income of its own; all revenue and expenditure is derived from the operation of Southampton Football Club Limited (SFC) and the associated stadium company. 2. The Holding company is solvent in its own right. It only becomes insolvent when account is taken of the position of SFC and the other group companies. 3. The three entities (the Holding Company, SFC and the stadium company) comprise the football club and they are inextricably linked as one economic entity. In light of all this advice, the Board concluded that an administrator had been appointed in respect of the Club or part of its undertaking or assets. Accordingly, it was left with no alternative other than to invoke its ‘Sporting Sanctions’ regulations and apply a 10 point penalty to the Club. The other provisions of The League’s insolvency policy also become effective. As the insolvency event occurred after The Football League’s deadline of the fourth Thursday in March, the points deduction will take effect either: 1. In the current season, if Southampton avoid relegation to League 1; or 2. Next season, if the club does not avoid relegation." Fry denied that the club and administrators had not co-operated with the League investigation. "The point regarding non-co-operation is not accepted," the administartors' statement read. |
| NE1 |
who was it that said many others clubs would rue the day they voted the sanctions against Leeds?
What was it? Turkeys and christmas........
At least we weren't involved in the vote so we can't be blamed
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| wewantourdarbyback |
This ones different to the 15 points they voted to keep on us, this is the initial 10 so for this I feel some sympathy.
If they don't get a CVA when the come out of admin then they'll get the -15/17 and I won't care. |
| raveydavey |
Joke just heard on the radio:
3 famous ships have left Southampton. The Titanic, the Premiership and the Championship..... 
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| NE1 |
lol ^^^ |