Date: 30th June 2009 at 8:07pm
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The Pinnacle group fronted by Matthew Le Tissier have pulled out of the race to buy Southampton Football Club.

Things were looking up for the cash-strapped Saints when the Pinnacle group had a three week exclusivity deal with administrator Mark Fry.

However, the group did not reach an agreement for the sale of the Hampshire club.

A meeting was then scheduled with the Football League regarding a hopeful appeal to the ten point deduction, given to the Saints following entering administration.

The Football League did not grant Pinnacle the opportunity to appeal the points and today the group have withdrawn their bid to buy Southampton.

Le Tissier explained the situation to Sky Sports: ‘It is with great regret and frustration, due to ongoing issues with the Football League, that I and in turn those behind the Pinnacle consortium have decided to withdraw our interest in purchasing Southampton football club.

‘With the ongoing issues with the Football League persisting, our backers have simply refused to provide the requisite funds to complete the takeover.’

 

8 Replies to “Pinnacle pull out of Saints deal”

  • Are sure its not some dumb ploy to get the league to rethink – don’t think it will work if it is – Good luck we know all about the rollercoaster ride of a take over at Swindon.

  • Never were the league going to change their mind. They never have on any other club. Very dum & niave to think you should get special treatment. You even get a bigger penalty than just minus ten. You deserve it!!!

  • Turns out that the FL gave us a contract to sign but Pinnacle didn’t sign it. Things could have all been sorted out but typical old Saints – it didn’t. Now we’re relying on some Swiss group?? Or a knight in shinning armor to save our Saints.

  • Jeeez fellas what bad luck… Although as a Pompey fan I revel in your plight even I must have to admit you have had some pretty *****ty luck of late.. Hope you get a buyer and survive (but still get relegated again… but Pompey without Scummers is like Fish without Chips .. Chins up, hope for the best and hopefully somebody will come in and save the day .. so we can contnue our humour and also remain the best club in Hampshire..

  • No special treatment for any Club that this happens to, others have gone before and taken the punishment and it made them better sides.

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