New bidders in for Saints

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Sky Sports News understands a new consortium has entered the race to buy Southampton.

English-based company Gillico have expressed an interest in the cash-strapped League One club.

The Pinnacle group, backed by Matt Le Tissier, were thought to be in line to gain control at St Mary's but the deal collapsed as a result of Pinnacle asking the Football League to overturn the 10-point deduction handed out to the club for the start of the new season as a result of parent company Southampton Leisure Holdings plc going into administration.

Administrator Mark Fry has been searching for new investors and now Gillico have come to the table with an offer for the club.

It was feared that if no bids were forthcoming by the end of this week the club could find themselves going out of business, but news of Gillico's interest will raise hopes that the club could have new owners before the start of the new season.

"Since our update last week we have continued in our discussions with a number of parties in relation to an acquisition of the football club," said Fry.

"We currently are very confident that a sale will be achieved and that this process will be concluded very shortly.

"In relation to information regarding new interested parties, we are now in an unusual situation whereby we are receiving offers from a number of other parties very late in the day, but are committed to getting the transaction completed with our current buyer."

Fry added: "We are pleased that the directors of the football club were able to take action that has enabled the staff to be paid for last month and once again would like to thank the club and its staff for their continued support and patience.

"Last week I was very concerned for the club's future following the failure to complete by the then proposed purchaser, but this week has been much more positive and as said we believe a sale is close to completion."