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Saints owners in administration


David

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Southampton Leisure Holdings, owners of Southampton Football Club, have been placed into administration.

Shares in the company were suspended on Wednesday and accountants from recovery and restructuring specialists Begbies Traynor have now been appointed administrators.

However, the company have insisted that the Saints are 'unaffected' by the proceedings, with administrators hoping a buyer can be found for the club.

Joint administrator Mark Fry said: "Southampton Football Club has a long history in English football, and could be an extremely attractive investment for the right buyer.

"We are working hard to preserve the value of the football club and produce a positive outcome for all stakeholders, and I ask that fans continue to show their support for the team for the remainder of the season, as we seek to show the best face possible to potential investors."

Southampton have debts estimated at £30million and are lying second from bottom in the Championship, but they should avoid a 10-point penalty from the Football League as the club are not in administration.

[url=http://www.skysports.com/story/0,19528,11095_5133983,00.html]http://www.skysports.com/story/0,19528,11095_5133983,00.html

Southampton are doomed, doomed I tell you!

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