Friday, 3 April 2009

Southampton Football Club

I'm going to be lazy now and not even start to describe the goings on - and the goings - at Southampton Football Club and it's parent company this week. A quick Google News search for any or all of Southampton, administration, SLH, Rupert Lowe will tell you more than you need to know.

Just for the record, so I can refer back to it when I'm proved right, (and delete it if I'm wrong) this is how I see things panning out.

The Football League will do their usual fudge job and rule that provided someone buys the FC before end of season then no points deduction.

It's not goig to cost much to buy JUST the football club. Someone WILL buy the FC, my guess is about £3.5million. All they are really getting for that is players contracts and future gate receipts/tv income.

I think the £24m owed on the stadium (owned by SLH not the FC) is a bit of a red herring, it's like a mortgage, it's not all due to be paid now just the annual payment. Norwich Union will reluctantly agree to take ownership of the stadium and take a percentage of future gate receipts till they've got their money back (or sell it to a 3rd party who will do the same). It's not like repossessing house that they can re-sell, it's useless to them or anyone else unless SFC are using it. Similar deal with Staplewood (training ground)

SLH will cease to exist and Mr Lowe will never be heard of again in football circles.

We'll still get relegated this season even without points penalty

With a clean slate next season new owners will have learned from past mistakes. A much smaller squad will do a Leicester next season and storm Division 3 on average gates of 25,000.

Within 5 years the money coming into football will be much lower. We'll have a club back on it's feet and improving as others (bigger clubs) start suffering what we've already been through. We'll be in a position to buy back our own stadium whilst others are losing theirs and be totally self reliant again.

Within 5 years there will be only ONE team in Hampshire, Portsmouth's structure means they have far less chance of getting out of their mess than we have. (Ok I forgot Eastleigh).

Champions League Winners 2018.


OK The last bit was a joke.

1 comment:

  1. Interesting that it was Saints, Norwich and Charlton relegated from the Championship this season.

    It does seem to have something to do with the problems of adjusting to the Championship after being relegated from the Premiership, still with many of the liabilities from that expensive level of competition once the parachute payments have gone.

    Mind you, in Saints case it was Barclays Bank who finally pulled the plug. I also notice that Barclays announced some healthy profits yesterday. Perhaps all Saints supporters currently with Barclays, should switch banks ?

    One could also argue that as it was Gordon Brown who encouraged the light-touch regulation that led to the Banking crisis. Saints demise is all Gordon Browns fault, one more thing to add to his worries - and why not !

    At the end of the day though, I agree that there's now some real hope of successfully rebuilding the club over a few years, having finally got the toxic liabilities (i.e. players wages, stadium debt, chairman) out of the system via some dramatic surgery and blood-letting...

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