Michael Wilde blames Southampton's administration on Barclays Bank (From This is Hampshire)
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Michael Wilde blames Southampton's administration on Barclays Bank
9:14am Thursday 2nd April 2009 in
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- Exclusive By Adam Leitch » Chief Sports Writer
MICHAEL WILDE has laid a large part of the blame for Southampton Leisure Holdings PLC falling into administration at the door of the club’s bankers Barclays.
The former football board chairman was today standing down as administrators took over the running of the PLC after the business could no longer be classed as a going concern.
The Daily Echo understands that Saints had breached the overdraft limit agreed with Barclays of £4m – but by not much more than £110,000.
Read Michael Wilde's exclusive statement only in today's Daily Echo.
Comments(19)
SFC4EVA
says...
9:27am Thu 2 Apr 09
Look in the Mirror both of you, in fact i'll include Crouch in this! It is solely down to you three that the company has gone under! Hopefully the accounts will find someone to buy the club....f**k the parent company!
security word
easy-stay lol
St.Yorkie
says...
9:27am Thu 2 Apr 09
Help The Saints
says...
10:02am Thu 2 Apr 09
Invidia
says...
10:12am Thu 2 Apr 09
ps. I shall definitely renew my season ticket now!!!
UTS
says...
10:12am Thu 2 Apr 09
I dont think you will be very welcome at StMarys this Saturday or Lowe.
Propercynic
says...
10:25am Thu 2 Apr 09
San Marco
says...
10:37am Thu 2 Apr 09
gorf
says...
10:44am Thu 2 Apr 09
Got a barclays account?
move your money!
Steve R
says...
11:31am Thu 2 Apr 09
SFC4EVA
says...
11:35am Thu 2 Apr 09
gorf wrote:I must admit I closed my Barclays account years ago when I was younger. I went to them as I was having a bit of financal trouble and they offered me no help at all and just kept charging me!
i've just closed my barclays bank! Got a barclays account? move your money!
Friarscliff
says...
1:04pm Thu 2 Apr 09
I think Barclays were good to continue supporting the club at the beginning of the season and you can hardly claim that things have been well managed since. Why should the bank and it's shareholders risk more money when the club shareholders and directors are not prepared to contribute themselves? Why has it not been possible to find another purchaser for the club - I'm sure the present directors would have been happy to sell? Have the fans really helped by boycotting the club resulting in a loss of badly needed income?
I have been supporting and until recent years, watching the Saints since the late 1940's and will be very sorry to see the club fold.
At the end of the day however, football is only an entertainment business and there are many other firms and business's that are vital to the economy and merit support.
I sincerely hope the club can continue and stay in the Championship but don't blame the bank when the shareholders, directors, fans and prospective investors have turned away from helping.
scotsaint
says...
2:12pm Thu 2 Apr 09
Friarscliff wrote:Exactly. Let me understand this. The shareholders seem to be saying that this situation came about because barclays refused to increase the overdraft by £110k, yet they were not prepared to put the money in themselves. Upside for barclays if it worked - they get their money back. Upside for the shareholders if it worked - they keep control for no cost. Nice deal if you can get it but please dont insult us by blaming the recession. Bankers may have a lot to answer for but not on this occasion. This is all about years of bad management and i suspect no bank would have supported such a weak management team
Why is it the bank that always gets the blame in these situations? I think Barclays were good to continue supporting the club at the beginning of the season and you can hardly claim that things have been well managed since. Why should the bank and it's shareholders risk more money when the club shareholders and directors are not prepared to contribute themselves? Why has it not been possible to find another purchaser for the club - I'm sure the present directors would have been happy to sell? Have the fans really helped by boycotting the club resulting in a loss of badly needed income? I have been supporting and until recent years, watching the Saints since the late 1940's and will be very sorry to see the club fold. At the end of the day however, football is only an entertainment business and there are many other firms and business's that are vital to the economy and merit support. I sincerely hope the club can continue and stay in the Championship but don't blame the bank when the shareholders, directors, fans and prospective investors have turned away from helping.
offix
says...
3:14pm Thu 2 Apr 09
Not your fault that you appointed those charlatans like Hone and Hoos.
Not your fault that you betrayed all the fans and brought back Ru**rt.
Not your fault that the Dutch experiment got implemented.
Not your fault that the overdraft was exceeded (again)?
What a weasel you are.
Ryan Mckinlay
says...
4:07pm Thu 2 Apr 09
San Marco wrote:yes because people are interested in the premier league, even your own fans dont want to attend to watch your 2nd rate team! now lowes gone what other excuse will they find!
Of course I have absolutely no sympathy with Wilde but it is interesting that Barclays sponsor the Premier League. Should they also be the bankers of clubs?? After all I bet they give Ronaldo and friends more than £110,000 per year.
Brownowl
says...
7:51pm Thu 2 Apr 09
SF76
says...
11:05pm Thu 2 Apr 09
YOU are to blame as much as Lowe, if not more so.
Saint
says...
11:15pm Thu 2 Apr 09
SFC4EVA wrote:Snap! Barclays are a bunch of w#####s.
gorf wrote: i've just closed my barclays bank! Got a barclays account? move your money!I must admit I closed my Barclays account years ago when I was younger. I went to them as I was having a bit of financal trouble and they offered me no help at all and just kept charging me!
But bottom line is Wilde, Lowe, Richardson and Askham are to blame!
Hopefully now a properly run board will take over the club finaces and take this great club in the right direction.
Baybrit
says...
2:36pm Fri 3 Apr 09
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Charlie George's Lawnmower says...
9:24am Thu 2 Apr 09
This is a very affluent part of the country and there are quite a few rich Saints fans around. Now is their time to help the club.
Step forward Gavyn Davies, Anthony Salz, David Frost, Leon Crouch, Patrick Trant, Rod Bransgrove and anyone else who will put the club first above personal gain or ego.