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8:00am Saturday 2nd February 2008
FORMER chief executive Jim Hone was spot on when he painted a gloomy financial picture in the autumn.
Hone was criticised for releasing a statement to the Stock Exchange in early November saying players would be sold in the January window if no new investment was forthcoming.
The statement read: "In the absence of significant new investment, the directors would require to trade players during the January transfer window in order to generate funds for use as working capital during the remainder of the financial year.
"The sale of players in January would, in the opinion of the directors, be likely to have an adverse impact on the Company's ability to achieve promotion to the FA Premier League.
"Whilst the Company's bankers continue to support the Company, they have indicated that they will not passively sit by and watch the liquidity position of the Company deteriorate over the coming year."
The non executive directors believed that Hone was painting an unnecessarily bleak financial picture.
But Thursday evening's events - the departures of high wage earners Grzegorz Rasiak and Rudi Skacel - seem to excuse Hone's actions.
Saints Trust chairman and Uglier Inside webzine editor Nick Illingsworth said: "Leon was probably happy to get rid of the former executives because he thought Jim Hone would sell the big names in the January transfer window.
"I don't think the SISU deal was right for the club, but Jim Hone did say that if we didn't accept it we might have to sell players in the window.
"The non execs told us they didn't think the financial situation was that bad and that players didn't have to be sold.
"But it looks as if Jim Hone was right.
"Just because we changed personnel in the boardroom, doesn't mean the accounts are any better.
"We obviously needed to sell players."
Illingsworth continued: There is no leadership on or off the field.
"It's up to Leon Crouch to provide that leadership.
"It's time for him to be transparent, to stand up and be big.
"We need transparency."
Beautiful South fanzine editor Daren Wheeler was also critical of the transfer deadline day deals.
"Two of our most high profile players were shuffled out of the back door with barely a whisper," he said.
"I don't like the way it was done "I'll be absolutely fascinated to see how the club can put a positive spin on such a rank deal for Saints.
"Are we that poorly off that getting two high earners off the wage bill can be seen as anything other than a complete and utter disaster for the club?
"Could we not have sold them?"
Wheeler added: "There appears no leadership on or off the pitch.
"I like Leon Crouch, his heart is in the right place, but there has to be people accountable for their actions.
"In any business, the workers are accountable for their actions.
"Where is Michael Wilde? Sunning himself in Barbados? His actions had a big effect on the club and he should be more accountable."
Disappointed saint, london says...
9:04am Sat 2 Feb 08
Captain Swing, Southampton says...
9:23am Sat 2 Feb 08
Disappointed saint wrote:I suggest that you direct that question to Seymour Pierce, the investment bankers who were brought in by Michael Wilde to sell the club. Contact: suerutherford@seymou
Will someone please tell me when Saints have a great ground, good facilities and a strong fanbase that so many other clubs with less than us (QPR, Leicester, even Derby) are able to acquire investment and we are not? I\'m genuinely non plussed.
lowelife, says...
9:44am Sat 2 Feb 08
Disappointed saint wrote:Because those clubs were owned by only a handful of people, instead of the thousands who own Saints. Yes, we only have 10 or so big shareholders, but many of them hate each others guts and the Lowe camp will only sell for a big profit and enjoy being the "dogs in the manger". Its the only power over the club they have remaining, so they love being able to scupper potential takeovers. Other big shareholders are ego-driven, so basically the club is "owned" by a bunch of idiots and why it makes it so difficult for someone to buy it.
Will someone please tell me when Saints have a great ground, good facilities and a strong fanbase that so many other clubs with less than us (QPR, Leicester, even Derby) are able to acquire investment and we are not? I'm genuinely non plussed.
Saint, says...
9:45am Sat 2 Feb 08
Scott, says...
9:46am Sat 2 Feb 08
Hank, says...
10:16am Sat 2 Feb 08
John B, Bitterne says...
10:19am Sat 2 Feb 08
Hank wrote:I think you are completely right Hank
I am a little confused, have we actually sold anyone, or have we just loaned out a couple of players who were desparate to leave to give them a chance of playing in euro 2008 this summer. These players needed to start games, something that wasn't happening at St Marys We have bought one player (davis) for around £1m. so i see that as a £1m out, £0 in. The mass exodus didn't happen, as predicted by Hone.
saintly, says...
10:47am Sat 2 Feb 08
John B wrote:The reason we did'nt sell anyone in January was because there were not any clubs interested in our players. We have a bunch who are overrated and probably vastly over priced.
Hank wrote: I am a little confused, have we actually sold anyone, or have we just loaned out a couple of players who were desparate to leave to give them a chance of playing in euro 2008 this summer. These players needed to start games, something that wasn't happening at St Marys We have bought one player (davis) for around £1m. so i see that as a £1m out, £0 in. The mass exodus didn't happen, as predicted by Hone.I think you are completely right Hank If we were in real trouble we would be selling
Portswood Pete, says...
10:48am Sat 2 Feb 08
Hank wrote:Again, spot on Hank. It wasn't as if these mercenaries wanted to stay and nowadays it's the players that have all the power. we didn't HAVE to sell/loan these players, they wanted out. Another example of the Echo deliberatly stirring the fan base.
I am a little confused, have we actually sold anyone, or have we just loaned out a couple of players who were desparate to leave to give them a chance of playing in euro 2008 this summer. These players needed to start games, something that wasn't happening at St Marys We have bought one player (davis) for around £1m. so i see that as a £1m out, £0 in. The mass exodus didn't happen, as predicted by Hone.
loan options, says...
10:56am Sat 2 Feb 08
Jon, says...
11:22am Sat 2 Feb 08
mike hunt, your mums house says...
12:03pm Sat 2 Feb 08
Official Club Response, Southampton says...
12:09pm Sat 2 Feb 08
Portswood Pete wrote:Hank's not quite spot on when he says £0 in. We got money for Rasiak. A loan deal doesn't necessarily just mean some other club picks up the player's wages etc. In Bolton's case they have paid us an as yet undisclosed amount to tempt us into loaning them the Pole. No idea whether Hertha Berlin have too.
Hank wrote: I am a little confused, have we actually sold anyone, or have we just loaned out a couple of players who were desparate to leave to give them a chance of playing in euro 2008 this summer. These players needed to start games, something that wasn't happening at St Marys We have bought one player (davis) for around £1m. so i see that as a £1m out, £0 in. The mass exodus didn't happen, as predicted by Hone.Again, spot on Hank. It wasn't as if these mercenaries wanted to stay and nowadays it's the players that have all the power. we didn't HAVE to sell/loan these players, they wanted out. Another example of the Echo deliberatly stirring the fan base.
princey boy, Bitterne says...
3:43pm Sat 2 Feb 08
Automan wrote:Yes and be assured that at the rate that Lowe was selling,we would not have the stadium, the training complex and a team by now.
hate to say I told you so but this club has been a shambles since the night of the long knives saw off Lowe. No angel he but at lease Rupert had a clue about finance- usually not spending it.
princey boy, Bitterne says...
3:51pm Sat 2 Feb 08
Saint wrote:The Daily Echo are on Rupert Lowes payroll,this has been evident for a long time now.
Hold your horses Daily Echo! You guys are trying to put a spin to everything, and always picking up the wrong end of the stick!! Firstly who put us in that position in the first place, they did! Plus Hone and his bickering board menbers are first class idiots! It all about how you manage the club that matters. That means what you say and how you try to manipulate things to suit your own gains, which they clearly did, and you forget how their bickering could of cost us other possible takeovers on the cards! Do not try and paint this guy and his ruling as justified, because they rip this club apart on all levels and did not give a s**t at what cost, apart from their own pockets! GOOD RIDDANCE!! Daily Echo get behind your club for crying out loud!! COYR!!!!
Murray, Kent says...
6:33pm Sat 2 Feb 08
Portswood Pete, says...
7:28pm Sat 2 Feb 08
princey boy wrote:Princey you are joking right? The Echo hated Lowe and vice versa, no matter what you think of Lowe or the Echo, you're comment about them being in the pocket of Lowe is ludicrous in the extreme.
Saint wrote: Hold your horses Daily Echo! You guys are trying to put a spin to everything, and always picking up the wrong end of the stick!! Firstly who put us in that position in the first place, they did! Plus Hone and his bickering board menbers are first class idiots! It all about how you manage the club that matters. That means what you say and how you try to manipulate things to suit your own gains, which they clearly did, and you forget how their bickering could of cost us other possible takeovers on the cards! Do not try and paint this guy and his ruling as justified, because they rip this club apart on all levels and did not give a s**t at what cost, apart from their own pockets! GOOD RIDDANCE!! Daily Echo get behind your club for crying out loud!! COYR!!!!The Daily Echo are on Rupert Lowes payroll,this has been evident for a long time now. Wake up people, when was the last time this paper reported anything positive about SFC. Remember how this paper wanted to sell out to SISU,all those threatsabout having to sell players, total bollix.
Ex Daily Echo Reader, says...
10:00pm Sat 2 Feb 08
David, Poole says...
10:11pm Sat 2 Feb 08
bjg, Blackfield says...
10:23pm Sat 2 Feb 08
bjg, 910-882 says...
10:35pm Sat 2 Feb 08
Jermaine Defoe, The Premier League says...
12:54am Sun 3 Feb 08
hmm?, somewhere says...
5:21am Sun 3 Feb 08
Mark, Southampton says...
8:31am Sun 3 Feb 08
quoteDid you see my goal on MOTD ladies?!
Jermaine Defoe, The Premier League says...
8:43am Sun 3 Feb 08
Mark wrote:What like Sterne John?! Real class act he is!!
quoteDid you see my goal on MOTD ladies?!
You must have hated me signing for Pompey, shows just how far apart the
two clubs are!
Erm no thanks Saints don't need another overated player that worries
too much about what bird he's with as to playing for his club. I'm just
surprised Arry bung redcrapp has spent money on someone under thirty!
Andy, Shirley says...
10:37am Sun 3 Feb 08
Gordon Mockles, Southampton says...
11:00am Sun 3 Feb 08
lowelife wrote:I'm not sure how you can accuse Lowe of scuppering any deals. His egotistical attitude and slippery nature didn't enamour many and I do blame him for our relegation and fall from grace but you cannot seriously assume Lowe, esq. enjoy having power over the club & scuppering any deals purely as a whimsical pleasure.
Disappointed saint wrote: Will someone please tell me when Saints have a great ground, good facilities and a strong fanbase that so many other clubs with less than us (QPR, Leicester, even Derby) are able to acquire investment and we are not? I'm genuinely non plussed.Because those clubs were owned by only a handful of people, instead of the thousands who own Saints. Yes, we only have 10 or so big shareholders, but many of them hate each others guts and the Lowe camp will only sell for a big profit and enjoy being the "dogs in the manger". Its the only power over the club they have remaining, so they love being able to scupper potential takeovers. Other big shareholders are ego-driven, so basically the club is "owned" by a bunch of idiots and why it makes it so difficult for someone to buy it. Imagine trying to sell a car which had 10 owners all wanting a different price and half of them would prefer to see the car rot than give up their power over it.
Egomaniac, Southampton says...
1:19pm Sun 3 Feb 08
Saint Ash, At home says...
1:30pm Sun 3 Feb 08
Jermaine Defoe wrote:Well actually the skate hav'nt signed him,he's there on loan, and now they're are worried about the financial "problems" with the Benjani deal to Man city. Prehaps they've not got the money!
Did you see my goal on MOTD ladies?! You must have hated me signing for Pompey, shows just how far apart the two clubs are!
Egomaniac, Southampton says...
1:38pm Sun 3 Feb 08
sailor sam, portsmouth says...
5:01pm Sun 3 Feb 08
Egomaniac wrote:Cash strapped? Just because we are 'down wind' from you, financial melt-down is not a wind-borne disease!
Saint Ash: I understood that Pompey was relying on the Benjani deal with Man City to finance the transfer of Defoe to Fratton Park. If that's the case they could be cash strapped if the FA refuse to allow the deal to go through. I sincerely hope the authorities do refuse permission as the paperwork was not in order by the deadline. If they allow it, what does it say for their authority? Also, if the deal is allowed, then there is effectively no deadline for the transfer window. What a shambles!
Costa Baz, says...
5:02pm Sun 3 Feb 08
Egomaniac wrote:You don't know what you are talking about!! You say of Lowe " He was able to see that SFC were in no position to challenge the the top of the Premiership, but could nevertheless maintain our Premiership status at the lower half of the table." We were relegated under his stewardship, you plum!
What an excellent post Gordon Mockles! Written in Queen's English, no abuse or swear words, and well argued. I totally support your viewpoint. We are at least two years on from Rupert Lowe, and yet the ostriches are still sticking their heads in the sands and blaming him for everything. Wilde, Crouch et al came to power on false promises and have failed to deliver those pledges. Mr Crouch should now have the grace to resign on the basis of his failure to take our club forward. What so many of the dinosaurs forget is that Lowe maintained a healthy financial control. He was able to see that SFC were in no position to challenge the the top of the Premiership, but could nevertheless maintain our Premiership status at the lower half of the table. SFC simply did not have the vast sums of money available to buy in players. So Strachan left. We could have had Hoddle in to steady the ship, but no, 'popular' opinion could not see further than it's nose of resentment and hate of Hoddle, and so the decline began. Thanks to the current regime, we are broke, selling off or loaning out the better players to balance the books, no investment on the horizon, managerless and rudderless. There is no leadership or at all. Sorry, but the blame lays fair and square at Wilde and Crouch's doors. You cannot blame Rupert Lowe for the current state of a shambles.
Sinat for 40 Years, Southampton says...
5:11pm Sun 3 Feb 08
Twicher, Bookies Somerstown says...
5:27pm Sun 3 Feb 08
Jermain Defoe, Portsmouth says...
9:49pm Sun 3 Feb 08
Jermaine Defoe wrote:He's an imposter, I am the real Defoe, as usual the inbred skates cannot spell or use correct grammer - this shows how far apart the two cities are. ;)
Did you see my goal on MOTD ladies?! You must have hated me signing for Pompey, shows just how far apart the two clubs are!
Dave, says...
9:37am Mon 4 Feb 08
Jermain Defoe wrote:Yes you may have better grammer, but we have much better football. Still at least you have some crumb of success to hang onto, i just dont think your going to get promoted on the back of being able to spell longer words than us though.
Jermaine Defoe wrote: Did you see my goal on MOTD ladies?! You must have hated me signing for Pompey, shows just how far apart the two clubs are!He's an imposter, I am the real Defoe, as usual the inbred skates cannot spell or use correct grammer - this shows how far apart the two cities are. ;)
Egomaniac, Southampton says...
12:37pm Mon 4 Feb 08
Gordon Mockles, Not down wind of Pompey, LUCKILY! says...
12:55pm Mon 4 Feb 08
Gordon Mockles, Southampton says...
1:29pm Mon 4 Feb 08
pugwash, southampton says...
10:50pm Mon 4 Feb 08
Egomaniac wrote:WHAT AN EXCELLENT STATEMENT,COULD NOT AGREE MORE.YOU'RE SPOT ON.WILDE AND CROUCH SEEM LIKE AMATEURS COMPARED WITH LOWES PROFESSIONAL APPROACH,AND LIKE YOU , I AGREE THAT THINGS STARTED GOING WRONG WHEN LOWE WAS PREVENTED FROM BRINGING HODDLE BACK BY CERTAIN 'FANS' AND SOME WEAK BOARDROOM MEMBERS.
What an excellent post Gordon Mockles! Written in Queen\'s English, no abuse or swear words, and well argued. I totally support your viewpoint. We are at least two years on from Rupert Lowe, and yet the ostriches are still sticking their heads in the sands and blaming him for everything. Wilde, Crouch et al came to power on false promises and have failed to deliver those pledges. Mr Crouch should now have the grace to resign on the basis of his failure to take our club forward. What so many of the dinosaurs forget is that Lowe maintained a healthy financial control. He was able to see that SFC were in no position to challenge the the top of the Premiership, but could nevertheless maintain our Premiership status at the lower half of the table. SFC simply did not have the vast sums of money available to buy in players. So Strachan left. We could have had Hoddle in to steady the ship, but no, \'popular\' opinion could not see further than it\'s nose of resentment and hate of Hoddle, and so the decline began. Thanks to the current regime, we are broke, selling off or loaning out the better players to balance the books, no investment on the horizon, managerless and rudderless. There is no leadership or at all. Sorry, but the blame lays fair and square at Wilde and Crouch\'s doors. You cannot blame Rupert Lowe for the current state of a shambles.
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Automan, Southampton says...
9:00am Sat 2 Feb 08