Football Management

Commentary on the management of over 160 English football clubs by Dr John Beech, winner of the FSF Writer of the Year Award 2009/10 Twitter: @JohnBeech Curator of Scoop.it! Football Finance

Southampton update

Posted by John Beech on June 30, 2009

Things look even worse at St Mary’s today.

First has come the news this morning that the Marc Jackson bid has foundered (1), and then, less than two hours later, that the Pinnacle Group, including Matt Le Tissier, has also pulled out (2). The Pinnacle Group had for sometime been seen as the front runner, even when their exclusivity clause ran out. Pinnacle cite ongoing issues with Football League, although this cannot refer to the 10 points deduction as the issues are said to have only come to light recently.

Who then is still in the frame? A Swiss consortium (3) and a mystery group who appeared on the scene just yesterday (4). Neither bidder can act particularly swiftly if they conduct due diligence, and time is running desperately short – asset stripping in the form of selling players has begun (5). The end may well be nigh – let’s hope I’m wrong.

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