One of the most loved clubs in the south is about to go bust and what a crime for football it will be if they do.
Southampton Football Club have been placed in administration to see whether the bankers can save their existence. The future looks rather bleak at present.
It happened when Southampton’s parent company was placed in administration that dragged the club down with them.
Trading in Southampton’s Leisure Holding plc’s shares was suspended on Wednesday after the company admitted they needed extra money to have a future, affecting its major asset the club.
The holding company had huge debts of £27.5 million to fight with, and that had a paralysing knock on effects.
However, with the parent company going to administration instead of the club, it may prevent the possibility of a 10-point deduction. So, the relegation dogfight is still on, hope is there.
One positive they can take from this is that Rupert Lowe has resigned after months of protesting from the fans. The manner of his resignation was not what the fans ideally expected though.
The Saints faithful were expecting major financial to an extent, this season has seen all the clubs assets and big earners loaned or sold. Players who would have secured the clubs safety were fished out, players like Stern John and Marek Saganowski who would have guaranteed goals. But it was not to be.
The club solely relied the youth set up and it promised some reasonable results despite the position the Saints find themselves in. The finance simply was not there but the team have done the fans proud.
I do hope they stay up and earn another season in the Championship.
Posts
1 comment:
I do not - not because my pompey roots mean I cannot, but it would simply be unfair now if they get the kind of break denied sides like Luton and Bournemouth.
The kids are alright - with this year of experience behind them, the side might just be promotion candidates in League One next year.
Post a Comment