Financial trouble @ Southampton

[Lamby]

The stewards at Southampton were worse than the notoriously Nazi Plymouth stewards in my opinion. They really do believe they are the dogs.

Some of them are. I left on 90mins cos I had to catch the train but some others that I know who went left like 10mins later and got caught up in a riot and then got a police escort to the station

[Ultra]

Some of the chants we come up with yesterday were classic

'How does it feel to be soo skint'

'You're not gonna be here next year'

Some of us can remember when Charlton were in the same position.

At least the saints still have their own ground.

[Alexikokopops]

Whilst I don't wish for them to go out of business, if they get relegated and suffer, I wouldn't cry a single tear. We were always shit at their place, and it's a place I only have bad memories of. Hate the place, hate the ground, hate the stewards. **** them.

The stewards at Southampton were worse than the notoriously Nazi Plymouth stewards in my opinion. They really do believe they are the dogs.

I agree. how long did you manage last season? 15 minutes? Wankers, the lot of them.

[lcfc_jme]

I agree. how long did you manage last season? 15 minutes? Wankers, the lot of them.

Didn't even get 15 minutes! Got about 8 then walked down the stairs with a very bad leg, then had to stand outside for the rest of the game, watching everyone else inside stand up and listen to them score a massive goal. Very, very bad memories.

[C-man]

Some of the chants we come up with yesterday were classic

'How does it feel to be soo skint'

'You're not gonna be here next year'

Yeah, class mate, well done.

You're going to be in this league next year, and whatever Mingey Murray says, you'll be lucky to be in business in two years.

[leicesterseddon]

Milan doesn't personally own our stadium though LCFC does. Their parent company from what I understand does own St Marys and has amassed other debts relating to the running of the club. Debts that LCFC and other clubs take on themselves... rather than shuffling the debt off to Milan Mandaric Ltd, which then goes bust without paying the creditors.

Obviously not easy for us to preach, but the whole reason these parent companies are set up is to do exactly what they are doing if things go wrong. They have, so Southampton fc should have to pay the penalty... unless they want to take on all related debt from the parent company for the stadium etc.

As far as I'm aware, the stadium is owned by Teachers Insurance and Annuity Association in the US, and we are merely on a renewing 10-year lease.

I totally agree with the gist of your post there though - if Southampton's parent company have gone under, they will take a huge amount of the debt incurred by the club (mostly in the stadium) with them. They can say 'but the club's not gone into administration itself' until blue in the face, but at the end of the day the holding company is just a mechanism to keep a club's debt off its own balance sheet. When you consider the money they got by selling some of their players (£12m for Walcott ), the club has been run in a shocking fashion and will leave many of its creditors facing partial payment or perhaps no payment at all.

I mean the 10-point penalty is there for clubs who negociate to wipe out some of their debt - so in my eyes, unless the club can find a buyer who is willing to take it on, Southampton should get some form of points deduction, because if they don't get punished then they'll have basically offloaded some of their debt scott -free. They are after all the club who play in the stadium, which is responsible for something like £27m of the debt.

[Corky]

Some of the chants we come up with yesterday were classic

'How does it feel to be soo skint'

'You're not gonna be here next year'

Weren't you lot away from the Valley for about 8 years?

[Jon the Hat]

As far as I'm aware, the stadium is owned by Teachers Insurance and Annuity Association in the US, and we are merely on a renewing 10-year lease.

I totally agree with the gist of your post there though - if Southampton's parent company have gone under, they will take a huge amount of the debt incurred by the club (mostly in the stadium) with them. They can say 'but the club's not gone into administration itself' until blue in the face, but at the end of the day the holding company is just a mechanism to keep a club's debt off its own balance sheet. When you consider the money they got by selling some of their players (£12m for Walcott ), the club has been run in a shocking fashion and will leave many of its creditors facing partial payment or perhaps no payment at all.

I mean the 10-point penalty is there for clubs who negociate to wipe out some of their debt - so in my eyes, unless the club can find a buyer who is willing to take it on, Southampton should get some form of points deduction, because if they don't get punished then they'll have basically offloaded some of their debt scott -free. They are after all the club who play in the stadium, which is responsible for something like £27m of the debt.

You would need to look into the level of seperation. If the Parent company owns the Stadium, and rents that to the Club then the debt on the stadium is irrelevant and it is probably no different legally to Teachers IAA going bust in our case.

[Ultra]

League agree to launch inquiry

This is probably an admission that they can't touch Southampton - otherwise they'd have imposed a 10-point deduction straightaway.