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| Southampton escape further punishment | |
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| Tweet Topic Started: 13th July 2009 - 05:23 PM (273 Views) | |
| Sir Quej Of Quejdom | 13th July 2009 - 05:23 PM Post #1 |
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100% Leeds
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:toofunny: WTF ??? Basically this billionaire has bought the club and ground and left the "Holding Company" still in administration........ AND THE FL ARE NOT GOING TO PUNISH SOUTHAMPTON FOR BEING SOLD OUT OF ADMINISTRATION WITHOUT A CVA IN PLACE ????? ISNT THAT EXACTLY WHAT BATES DID WITH US ?????? |
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| Fitz | 13th July 2009 - 06:52 PM Post #2 |
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Perfectly formed member
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Thats just about fucking typical......... |
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| Carlo Algatrensig | 14th July 2009 - 10:11 AM Post #3 |
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Board Villain
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It isnt exactly what Bates did with Leeds The company in Administration is Southampton Leisure Holdings PLC. They were the owners of Southampton Football Club Limited. The Administrators of Southampton Leisure Holdings PLC have sold Southampton Football Club Limited to to the new owners. It is not the actual club that has ever been in administration as was the case with Leeds United and none of the debt of Southampton Football Club Limited has been written off. |
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| Kev Walker | 14th July 2009 - 10:32 AM Post #4 |
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Services to LUFC for putting up with a scouser!!!
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It isnt exactly what Bates did with Leeds The company in Administration is Southampton Leisure Holdings PLC. They were the owners of Southampton Football Club Limited. The Administrators of Southampton Leisure Holdings PLC have sold Southampton Football Club Limited to to the new owners. It is not the actual club that has ever been in administration as was the case with Leeds United and none of the debt of Southampton Football Club Limited has been written off.[/quote] Are you Mawhinney in disguise? Edited by Kev Walker, 14th July 2009 - 10:33 AM.
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| Sir Quej Of Quejdom | 14th July 2009 - 01:14 PM Post #5 |
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100% Leeds
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i'm sure you are right (on paper) but the FL decided that Southampton Football Club and the holding company were one and the same when they gave them a 10 point deduction. If what you say is totally correct, then the FL would have had no grounds for the 10 point deduction. And correct me if I'm wrong (which is most of the time in fairness), but wasnt Leeds united FC owned by a holding company in the same way? And didnt Bates buy the club (as an Asset) from the Holding company, which was in administration in exactly the same way as the southampton one has? |
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| Carlo Algatrensig | 15th July 2009 - 12:50 AM Post #6 |
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Board Villain
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I personally think that there were no grounds to give Southampton a 10 point deduction. The entity that was in administration was the owners of the club not the club itself. In leeds case it was the club that was in administration as the Club was LUAFC (1919) limited or something like that. That was the entity that had the contracts and agreements that would allow it to play in the football league. In southamptons case it wasn't Southampton Football Club Limited which was the entity that held the contracts and agreements to play in the football league that went into administration. Leeds United AFC (1919) were owned by a holding company (FSF) but that holding company didnt go into administration it was the actual club that did. When Leeds United was sold to the New Company, what was sold was the rights to intellectual property, good will, existing contracts and once the golden share was transferred the right to play in the football league. In Southampton Football Club limiteds case none of the assets have been sold all that has changed is that that the shares in that company have been sold from an insolvent company to a solvent person/Company. |
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3:13 PM Jul 11