Southampton FC has released an official statement confirming that parent company Southampton Leisure Holdings Plc was put into administration after it was no longer able to pay it’s debts. That being said, the Saints higher ups are very adamant that the club is safe, unaffected and will not face a 10 point penalty from the Football League as the club itself is not in Administration although they ARE on the lookout for a buyer as soon as possible.

Via SaintsFC

Mark Fry, Joint Administrator, commented:

“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 show their support for the team for the remainder of the season, as we seek to show the best face possible to potential investors.”

Can you explain the relationship between Southampton Leisure Holdings Plc and the football team?

Southampton Leisure Holdings plc owns 100% of the football club.

What exactly does placed into administration mean?

Administration is a process to protect the assets of the Company and the administrator is appointed to ensure the best outcome for the business and its creditors.

Why did this not happen earlier in the season?

The decision to put the business into administration was taken now because it was clear that the bsuiness was insolvent. This wasn’t the case earlier in the season.

So what exactly will Begbies Traynor be doing?

The Begbies Traynor team, who have assumed control of the holding company, will be working with the Directors to secure the future of the business. Our strategy will be to find a buyer for the Company.

What is the status of Southampton Football Club Limited?

The Club continues to trade under the control of its directors.

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