Late hitch in Saints buy-out

Emergency meeting scheduled for Monday

Last updated: 19th June 2009   Subscribe to RSS Feed

Late hitch in Saints buy-out

Late hitch in Pinnacle takeover

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Matthew Le Tissier's attempts to takeover Southampton have hit a late snag over the club's membership in the Football League.

Lee Tissier is currently spearheading the purchase of the troubled South Coast club by the Pinnacle consortium, who were expected to complete their buy-out on Friday.

However, some of the finer details of the deal have yet to be resolved with the Football League, who have imposed a 10-point deduction on the club after their holding company went into administration last season.

Emergency meeting

Administrator Mark Fry has now confirmed the League will hold an emergency meeting on Monday to resolve the situation, even though Pinnacle's three-week exclusivity deals ends on Friday.

"There are a number of very small issues that remain but the principle one of which is the Football League situation," Fry told the Daily Echo.

"They have agreed to have an emergency meeting on Monday but until any bidder can be satisfied about membership of the League they won't complete a purchase of the club."