glass half full They will probably be bought by a 'Ken Bates type' for 1p and all debts wiped, leaving some poor souls out of pocket.....
Fezza In other news; could the coin hitting the ref in the Cardiff Vs Swansea game cause Cardiff to be docked some points?
Fezza In other news; could the coin hitting the ref in the Cardiff Vs Swansea game cause Cardiff to be docked some points?
T.R.O.L.I. Is the decision on the points deduction being made today?
An independent inquiry into Southampton's finances will be launched by the Football League before deciding on whether the club will be punished.
Southampton Leisure Holding was placed in administration after it admitted it needed extra money to have a future.
The club could be deducted 10 points as a result of going into administration.
"The League board has told its legal team to commission a report to clarify the legal and financial position of the club," said a statement.
The holding company was put into administration last week with debts of £27.5m, reportedly made up of financial liabilities of £23.1m and an overdraft of £4.4m.
It is possible that putting the parent company into administration - thus wiping out a significant proportion of the club's debt - could save the club from a points deduction.
Clubs such as Leeds and Luton, who were hit with points deductions themselves after going into administration, would be angry if Southampton avoided such a fate.
Chief executive Rupert Lowe, Saints chairman Michael Wilde and director Andrew Cowen resigned from the company last week, although a statement from SLH said the club was "unaffected by these insolvency proceedings".
The business is heavily in debt after spending more than £30m on the 32,000-seat St Mary's Stadium, which they moved to from The Dell in 2001, before being relegated from the Premier League in 2005.
Southampton are three points from safety with six games remaining in the Championship.
Unless they decide to start from scratch like the Wimbledon fans and create AFC Southampton.bobby m's syrup I don't believe that any true football supporter, regardless of which team, will gloat at this news. That said, I remember a time, perhaps 25-30 years ago, (when Reading were in the doldrums and the Saints, a moderately successful top tier outfit), when Southampton FC ran a quite aggressive advertising campaign in and around Reading.
If the Saints do fold, can we expect their fans to follow Bournemouth?...Possibly. Pompey?...Never! That leaves little ol Reading. Perhaps Sir John had better dust off those stadium extension plans.
Doh! I forgot Aldershot. Nearer than us and Hampshire by a squeak.
bobby m's syrup I don't believe that any true football supporter, regardless of which team, will gloat at this news. That said, I remember a time, perhaps 25-30 years ago, (when Reading were in the doldrums and the Saints, a moderately successful top tier outfit), when Southampton FC ran a quite aggressive advertising campaign in and around Reading.
If the Saints do fold, can we expect their fans to follow Bournemouth?...Possibly. Pompey?...Never! That leaves little ol Reading. Perhaps Sir John had better dust off those stadium extension plans.
Doh! I forgot Aldershot. Nearer than us and Hampshire by a squeak.
Archie's penalty Who'd have thunk it? Both Southampton and Charlton in League one. Crazy!
Russell Street http://news.bbc.co.uk/sport1/hi/football/teams/s/southampton/8014811.stm
Penalised Saints face relegation
Southampton will be relegated from the Championship after being docked 10 points by the Football League.
The penalty comes after the club's parent company went into administration at the start of April.
Southampton are currently four points off safety with two games to go and, even if they beat the drop, they will be deducted 10 points.
If they do not avoid finishing in the bottom three then the points penalty will take effect next season.
The south-coast outfit had hoped to avoid the punishment as they argued that it it's parent company Southampton Leisure Holdings plc had gone into administration.
But a League investigation by "forensic accountants" found that the club and the holding company were "inextricably linked as one economic entity" and applied their mandatory penalty.
More to follow.
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