New Mission to Save the Southampton Football Club
The holding company of the Southampton club the Southampton Leisure Holding is under serious financial trouble and trading in the share of SLH was halted. If we consider the worst scenario where Southampton Leisure Holdings fold up, then the club has to follow. But the most likely scenario is that SLH will try to negotiate with its two main creditors namely Barclays Bank and Norwich Union and there is every possibility that the club may change hands and get a new parent or a new individual boss.
As per the financial results of SLH ended June 2008, 23.1m pound was payable to Norwich Union and a amount of 4.4m pound was payable to Barclays and as per the reliable sources Barclays in the recent months reluctantly helped the club to clear off the wages of the players through the extended credit.
However senior officials of the club are still hopeful that the club independently can mange its financial commitments and the Football League at its board meeting next Tuesday is likely to take up this case. At present Southampton are placed in the 23rd position in the Football League Championship which is just three points short of the present safety zone whereas Plymouth who have played one more game that the Saints have taken their tally to 40 points and are at 21st position.
Just before five weeks Saints almost certainly were about to drop to the status of League One as they could gather only 28 points after playing 33 games however they came back strongly with three draws and three wins. Unless something gives way, we might not see Southampton in the Championship anymore and won’t be able to play as the team in games like FIFA 09, in the Championship at any rate. There is still a strong possibility of a buyer coming up, but this is provided Championship status of the Saints is maintained. It is a matter of survival for the Club.
