Date: 1st April 2009 at 10:52am
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The company that owns Southampton has had its shares suspended ahead of an announcement about its financial future.

Southampton Leisure Holdings had been warned it would be unable to continue as a viable business if additional funds were not secured before Tuesday’s deadline.

While talks with a number of parties are going on, the company said it was required to suspend its shares because the uncertainty had prevented it from posting half-year results before the three-month deadline.

Reports in the national press suggest that the move to put the club’s parent company, rather than the club itself, into administration will save it from being hit with a 10-point penalty, meaning that the Saints still have a chance of retaining their status as a Championship club.

However, even without the precarious financial situation the club finds itself in, avoiding relegation is going to be an uphill struggle, as Mark Wotte’s Southampton currently sit second bottom in the table and three points from safety.

Charlton visit St Mary’s on Saturday, and it will be a very interesting game in light of today’s developments. How will the players react to the news? What sort of atmosphere will there be at the game?

One thing is for certain, these are very bad times for Southampton and its fans. And to think it was only six years ago that Saints were in the FA Cup Final . . .

 

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