Date: 27th January 2006 at 3:32pm
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As Vital Football first reported several weeks ago a consortium of local businessmen have been preparing a bid to take control of Saints.

A spokesman for the consortium has now told BBC Radio Solent the mystery group of seven are within just four weeks of having a package in place to approach the board with a takeover offer.

Southampton Leisure Holdings plc is an Aim-listed company and the ownership is fairly evenly spread among it’s directors. Due to this any offer would require the approval of the board for a takeover to take place. If a deal wasn’t forthcoming then a hostile takeover bid could be attempted.

Currently Rupert Lowe owns just 6% of the shares, with the largest investment belonging to the Thompson family, who own around 10%.

It is thought it would take a total of around £11 million to buy a controlling stake in the club.