Pinnacle's managing director insists the group are looking to put together a contingency package to ensure Southampton's staff are paid while their proposed takeover continues to drag on.
The takeover has been delayed because the consortium are unhappy with Football League chiefs insisting they forego the right to challenge the club's 10-point deduction. And with Saints staff due to be paid on Thursday, the group are preparing to cover all angles.
MD Tony Lynam told Sky Sports News: "I was explaining to the staff the issues at hand, I have explained that we are looking at working on a contingency arrangement and putting a contingency package in place to pay them in the interim while the takeover is being completed."
He added: "We were scheduled to complete the takeover last Friday. Up until that point we were blissfully unaware until Wednesday that a condition of the takeover was an issue with the Football League. So we can't change that, all we can do is work around it.
"(Football League chairman) Lord Mawhinney (previously) stated that the club have the right to appeal. This agreement doesn't state that."
Elsewhere, Saints defender Michael Svensson, 33, has announced his retirement after a series of injury problems stretching back over the past few seasons.
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The FL is breaking the law. What law is that then?
It seems the Football League is actually breaking the law by doing this, but lets not get into that...the fact of the matter is that the more this all hang in the balance, the less time the team has to prepare for the start of the season!
Pinnacle, accept the 10 points or let someone else take over the club...
Matt Le Tissier, please please please come on TV and reassure me that the guy fronting the money for you bid isn't a joke...
I am getting a bit P!$$ED of with all this waiting and false hopes , dont they realize the longer this takens the crapper start our teams gonna have at the start of the season thats if we will have a team !!! buy the club and settle for the -10pts and get on with it please.
from a very fed up saints fan
oh please..this is farcicle..have you seen our money man.
He lives with his parents, is supposidly a letting agent,his parents house is a £300K semi....doesnt sound plausible does it? and to top it off, he looks like rowan atkinson - oh God, its going from bad to worse.
this pinnacle seems a bit of a joke i be very concerned for saints fans ,,, another bodger group taken over ,, forget the ten points as fans said move on ,,,,but i think they will be a big waste of time ,,,,saints need to look at this and worry ,,,they want the club on the cheap and make fast money only ,and MLT might not be the man you think he is ,,,money as a way of changing people ,,but i think good saints fans can see this also,,, again best of luck saints ,,,
have just read about pinnacles money man now i know this to be a big joke! if what i have read is true? things do not add up? and saints fans should start to worry big time! we can not continue with this farce of lies and rubbish again the damage to southampton football club and its long term future is now a very serious doubt!
I spoke to a guy at the FL yesterday Darren, Customer Relations Manager, the joke is only 200 emails have come from saints fans (which they will reply to once they have something constructive to say), however they have had over a 1000 from pompey fans. At the end of the day, the FL act for the 72 league clubs. The 72 league clubs make the rules, the FL only ensure that the 72 clubs adhear to the rules they themselves set. So, at the end of the day, we HAVE to accept the -10 points. As mentioned 4 wins and we have 2 points, 3 wins and a draw and we have eliminated the -10. Pinnacle are dragging their heels and the longer it goes on, we will lose any hope of seeing MLT back at St Marys. Personally, MLT is just what we need. We need the investment over a three year period to get us back into premiership contention, a manager who is willing to re-build our team and a chairman who is a fan who will only ever have the best interests of our club at heart. If you are serious Pinnacle, do the deal now, today. We have to start going forwards not taking three steps back week in week out.
PAHARS YES WAS A GOOD PLAYER BUT INJURY!! NON STOP!! THATS WHAT I MEANT! SVENSSON JUST THE SAME !! ITS TIME FOR HIM TO GO HE IS NO COACH HE HAS JUST BEEN ON TO GOOD A THING! AND THINGS MUST COME TO END SOME TIME DONT YOU THINK? MONEY FOR OLD ROPE SO THE SAYING GOES. CLAUS WAS THE SAME.
marian pahars was class
Well said William. What's the problem Pinnacle? Looking for an excuse? Do the deal and move on. 10 points to make up is nothing. Other teams have proved that. Teams coming up from L2 have not one-tenth of the supporters resources that the Saints have. Cr** or get off the pan Pinnacle.
LETS GET ONE THING STRAIGHT SAINTS WILL BE PLAYING IN LEAGUE ONE. AND AS TIME DRAGS ON WAITING FOR THE FOOTBALL LEAGUE WHO WILL NOT CHANGE THER MIND!! ON THE -10 POINTS!! ITS TIME TO MOVE ON!! ITS AT THE POINT NOW THEY HAVE TO DRAW A LINE UNDER IT AND MOVE ON.PINNACLE ITS TIME BUY THE CLUB OR STEP ASIDE BECAUSE YOU ARE CAUSING MORE DAMAGE TO ANY LONG TERM RECOVERY FOR SAINTS IF THEY HAVE A FUTURE! -10 POINTS 3 WINS AND A DRAW THATS ALL!! OVER A SEASON ITS NOTHING.ALSO MICHAEL SVENSSON HAS A CHEEK HE HAS MILKED SAINTS AND HE SHOULD GO AWAY HE IS A JOKE WHAT A DISGRACE! JUST LIKE PAHARS REMEMBER HIM!!
But roger m said that the wages were being paid. Funny that.
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