Derby CountyOn The Verge Of Extinction on 13:34 - Jan 18 by SaintNick | If you think that if Southampton Leisure Holdings had been liquidated Southampton FC would just carry on as normal then you would have been greatly mistaken. SLH owned the name and the ground and the name of the club, St Mary's was an asset of SLH which in effect was the club if we went into liquidation we would have been expelled from the league. In July with the season only a month away, the liquidators would not have been able to sell the ground quickly as they would be bound to get the best price for it, they would be legally obliged to take the best offer whether that was from a football club or not. Ant phoenix club would have had to start with a new name and would be at the mercy of the Football league as to what position in the pyramid we started back. All players contracts would be null and void and they would be entitled to a free transfer, so there would be no squad. If a club could just go into liquidation , stay in the ground and keep their squad etc then there would be nothing to stop an owner starting up a new holding company and then putting the old one into liquidation |
** Any phoenix club would have had to start with a new name and would be at the mercy of the Football league as to what position in the pyramid we started back ** This is correct. Ask any Pompey fan, we were hours from being wrapped up before the high court ruling. | |